In 2022, revenue from short-term rentals in Greece increased significantly. The largest increase in income was recorded in Athens, as well as on the islands of Paros and Mykonos.

A few numbers

The research company Transparent said that the largest annual increase in 2022 occurred on the island of Paros — plus 50% of the revenue from short-term rentals. Mykonos saw a 38% annual increase to €60,779. And in Athens, growth in 2022 reached 37% compared to 2021 (up to €22,302). 

The southern suburbs and the center of Athens enjoy increased demand for short-term rentals in Attica: the suburb of Glyfada stood out in 2022 with an annual growth of 45% (to €30,592), Alimos with a 31% increase (to €24,078), and Palaio Faliro with an 11% increase (to €19,924). 

What will happen to the economy and real estate prices in Greece in 2023? Economic Outlook

The company Key Data noted that short-term rentals generated €3.46 billion in revenue in 2022, with 144,000 properties rented nationwide and 20.87 million overnight stays.

The cost of short-term rentals also rose slightly, from €113 per night in 2021 to €139 in 2022. There are several reasons for this: 1) a sharp increase in demand compared to 2021; 2) price adjustments by landlords and property managers to compensate for higher operating costs of the accommodation (which, in turn, is due to rising electricity rates).