New historical high recorded its market short -term lease In Europe last month, with the available listings reaching 4.15 million (+2.8% annually). In fact, the demand It increased by 7.7%, reaching 61.3 million overnight stays, while fullness was increased by 3%.
According to AIRDNA’s pan -European recording, the Greek short -term real estate market stood out, as the offer of accommodation increased by 5%annually, demand was even higher with a rise of 7.5%, and the completeness was raised by 2%.
Unlike Greece, countries such as Italy (-1.5%), Spain (-1.2%) and France (-1.1%) fell offer, with the exception of individual areas that showed small increases.
Luxurious real estate
AIRDNA records the strengthening of demand mainly in the category of Luxury (+14%) and Upscale (+9%) of accommodation, with Europe highlighting new markets such as Norway and Switzerland.
“Greece, with a strong presence in villas and luxurious homes, benefits from this international trend, as it attracts high -income travelers looking for upgraded experiences,” says.
The prospects
The reservations in Europe show strong dynamic for the coming months. Specifically, for September the bookings are up 10%, while for October 13%. On the contrary, November shows a slowdown with only +2%, which may indicate the retention of demand for winter.
New ‘destinations’
According to AIRDNA’s other research, the less prominent destinations of Eastern and Northern Europe are rapidly rising, indicating travelers’ shift to alternative, less saturated and more economical areas.
Countries such as Poland, the Czech Republic and Croatia have shown a significant increase in demand. Especially in Croatia, the supply decreased by 0.8%, but demand increased by 11.7%, leading to an increase in completeness by 10.6%. Correspondingly, Poland and the Czech Republic saw demand over 15%.
The case of Norway is also noteworthy, which recorded a 27% increase in demand, Lithuania and Estonia with increases between 20-30% for August reservations.
Market Operation Framework
According to the impressive development of short -term leasing throughout Europe – and especially in Greece – it has inevitably opened the debate on the regulations and framework of the market.
In many countries, local authorities have introduced rules on the duration of lease, taxation or registration of real estate, attempting to balance the needs of residents, hoteliers and owners.
In Greece, the debate is intense, as short -term leasing has evolved into a key part of the tourism product, but also create reflections on issues such as housing pressure on large urban centers or equal terms of competition with hotels.