Short-Term Rental Rates in Greece Rise to €200 per Night

Ekathimerini

In July 2026, short-term rentals in Greece became noticeably more expensive despite a decline in supply. Occupancy increased most significantly among higher-end properties, while bookings for September and October exceeded 2025 levels, Euro2day.gr reports, citing AirDNA data.

Rates in Greece Exceed the European Average

In July 2026, short-term rentals in Greece cost an average of €200.35 per night, up 12.8% from the same period in 2025. Across Europe, the average rose by 8.2% to €159.2. Over the past 10 years, the rate in Greece has increased by 100.3%: in 2016, it stood at around €100. Compared with 2021, when accommodation cost €145, the increase reached 38.2%.

The trend was less pronounced in the hotel sector. Over the decade, the average room rate rose by 77.3%, from €110 to €195, while the five-year increase amounted to 30%. However, the figures are not directly comparable: hotel data refer to the price of a room, while short-term rentals typically involve an entire property.

AirDNA’s Repeat Rent Index (RRI), which tracks price changes for the same properties over time, rose by 7.8%. The 5-percentage-point gap with the average daily rate indicates that changes in the composition of the market also affected pricing.

Short-Term Rental Revenue in Greece

Occupancy of short-term rentals in Greece rose by 1 percentage point in July to 71.3%. This was supported by both an increase in booked nights and a decline in the number of available properties. The European average was lower at 69.2%.

Revenue per available night (RevPAR) reached €142.80, up 14.3%. Across Europe, the figure stood at €110.1, an increase of 7.7%. The gap between Greece and the European average therefore exceeded €32 per night.

RevPAR increased in 19 of Europe’s 20 largest markets, even though occupancy declined during six of the first seven months of 2026. Across Europe, it fell by 0.3 percentage points in July, while revenue continued to rise. Hungary recorded the strongest increase, at 25%. Greece, with 14.3%, also significantly outpaced the European average, while Poland posted an 11% gain.

Premium Properties Lead Occupancy Growth

The supply of short-term rentals in Greece declined by 2% compared with July 2025, to 162,000 properties. Croatia was another major Mediterranean market to record a decrease, at 2.1%. At the same time, booked nights in Greece increased by 1.9% to 2.68 million, while reservations made for stays in the current and following months fell by 3.4%.

Occupancy increased most strongly among more expensive properties. In the luxury category, it reached 48.75%, up 4.8 percentage points over the year. Upscale properties recorded occupancy of 56.39%, 4 percentage points higher than in July 2025. Budget accommodation continued to have the highest absolute level at 59.2%, but the increase was much weaker at just 0.5 percentage points.

The autumn months in Greece look noticeably stronger than August, when booked nights were only 1.6% above the previous year’s level. September bookings are 6.9% higher. RevPAR is up 16.9%, while the average rate has reached €152.34, an increase of 12.9%. Occupancy for budget properties is 1.1 percentage points higher, compared with 2.2 points for upscale accommodation and 2.3 points for luxury properties. For October, booked nights are 6% above the 2025 level and RevPAR is 15.9% higher. The average rate stands at €148.58, up 14.3%.

Trends in Other European Countries

In France, supply increased by 4% to 1.11 million properties, while booked nights rose by 2%. In Italy, the corresponding figures increased by 3.6% to 563,000 and by 4.2%. In the United Kingdom, growth reached 3.4% to 416,000 properties and 2.5%, respectively.

Spain stood out from the broader trend: supply fell by 12.5% to 365,000 properties, booked nights declined by 11.8%, and new reservations by 14.5%. In Germany, the number of available properties increased by 3% to 367,000, while Portugal recorded a 4% rise to 124,000.

Among Northern and Central European countries, the strongest growth in booked nights was recorded in Sweden at 11.9%, followed by Finland at 9.9%, Poland at 9.7%, Denmark at 9.3%, and Norway at 8%. Across Europe, supply expanded by 1.9% to 4.18 million properties, while booked nights increased by 0.8% to 61.68 million. At the same time, new reservations declined by 3.9%.

The Market Is Shifting Toward the Higher-End Segment

AirDNA data indicate that Greece’s short-term rental market is gradually shifting toward higher-quality accommodation. Following the introduction of new requirements, some lower-standard properties have left the market, while the share of more expensive options has increased. Interest in these properties remains strong after the summer peak, supporting demand in September and October and helping extend the tourist season.

Analysts attribute the decline in new reservations primarily to changes in booking timing rather than weakening travel demand. Across Europe, revenue growth is currently driven largely by higher prices, while in Greece both occupancy and revenue per available night are increasing.

International Investment analysts note that investors should consider whether a property meets the new market requirements, its level of amenities, and its ability to generate income outside the summer season. A longer period of active bookings could make revenue more stable and reduce dependence on a few peak months.