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Tuesday, 5 January 2021

Athens: Airbnb short-term rentals dropped sharply

 According to the "Covid-19 Industry Pulse Report: Tourism" report released by Ernst & Young (EY) in December, the demand for Airbnb short-term rentals in Athens has dropped sharply this year, resulting in an 80% drop in revenue. 


The coronavirus (Covid-19) pandemic caused a 76% drop in the number of international inbound tourists to Greece, which led to a decline in demand and affected the Greek hotel industry in terms of demand, occupancy and income. 


More specifically, citing data from market analyst AirDNA, the number of active listings in Athens fell from 12,700 in the third quarter of 2019 to 7,100. 


Between January and October 2020, the number of active listings seems to have dropped by at least 30% from the same period last year. 


At the same time, the average daily price (ADR) dropped by 50% to 60% from 55 to 60 euros last year to an average of 30 euros.

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