Aegean Islands: Short Term Rental Demand up 101%
The short-term rental sector in Greece is recovering at the fastest rate on a pan-European level, following the general course of tourism this year. Summer 2022 is in full swing in Greece. Hotels are filled to capacity, and short-term rental properties via platforms like AirBnb are also in high demand according to Greece Investor Guide. In fact, short-term rental requests have shot up by 26% this year compared to 2019, and with prices per night trending up
According to AirDNA’s latest monthly survey and based on bookings made for the months of July, August and September it is clear that demand for short term rentals during the 2022 summer season recorded an increase which places Greece in the top performer spot across the European continent.
In particular and worth noting, is the high demand for short term rentals on the Aegean and South Aegean islands, where in the first ten days of July alone, the five international Airports in the Southern Aegean registered more than 2 Million passengers, a record number well ahead of that of the same period in 2019.
Bookings across the entire region have increased dramatically, with island of Kos taking the top spot with an increase of 101.7% according to (AirDNA), followed by Tinos with an increase of 59.7%, Santorini with 58.3%, Corfu 57.2% and Zakynthos 51.7%, while in Rhodes the rise reaches 44.7%. In the Cyclades, a significant increase is also recorded in Naxos with 51.5%, Milos with 50.4% and Mykonos with 38.8%.
Considering the fact that property prices in Greece have dropped as much as 50% in some areas since the credit crisis and are now showing signs of strong recovery, stability and promising potential to yield high returns, finding and buying the right property in Greece is highly likely to be a good long term investment.