Short-Term Rentals in Greece: A Smart Investment Choice

Short-term rental properties in Greece are booming. With growing demand and rising prices, the market has become one of the most attractive segments in Greek real estate. From bustling Athens to vibrant Thessaloniki, property owners are seeing significant returns. In 2022 alone — the first full year after the global lockdowns — homeowners earned almost 37% more from short-term rentals than the year before.

Strong Growth in Rental Profitability

The performance of Greece’s rental market is regularly monitored by AirDNA, a leading real estate analytics firm. Their latest data reveals that short-term rental income across Greece surpassed €2.2 billion in 2022 — a huge jump from €1.4 billion in 2021, marking a 36.6% increase.

This surge has attracted both Greek and international investors, who see short-term rentals as a stable and profitable option. While tourist hotspots like Santorini and Athens remain top choices, demand is also spreading to lesser-known regions across the country.

Rising Prices Reflect High Demand

Rental prices per night have risen consistently. In 2022, the average nightly rate reached €193 — up 15% compared to 2021, and an impressive 35% more than in 2019 (before the pandemic). With housing development lagging behind the growing number of tourists, it’s no surprise that occupancy rates climbed to 55% nationwide in 2022, compared to just 12% in 2021.

Greece Among EU’s Fastest-Growing Rental Markets

In 2022, Greece ranked fourth in the European Union for growth in available short-term rental properties. Despite conservative forecasts, the country saw 11.5 million overnight stays — a 19% increase compared to 2019 and nearly 60% more than in 2021.

Travelers consistently choose accommodations offering comfort and quality service. Top-performing areas include Athens, Mykonos and Santorini, but other regions are quickly gaining popularity among savvy investors and vacationers alike.

Looking to invest in a property that works for you — even when you’re not there? Short-term rentals offer excellent potential for income and long-term value.
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