Bookings for short-term rental accommodation in Greece this summer is increasing at the fastest rate in Europe. So far, there is an annual increase of 232% compared to bookings made in the same period last year, followed by Portugal with an increase of 196% and Croatia with an increase of 151%. The pan-European average is 74%. 

This conclusion is based on data collected by the short-term rental research company AirDNA regarding the reservations made until March 1 for short-term rentals during the period from the beginning of June until the end of September this year.

Among the individual regions of the country, the largest increase compared to last year is Santorini by 552% ,while large increases are also observed in Athens with 429% compared to 2021, and Corfu, with an increase of 317%. 

At the national level, the number of bookings made this year is 7% higher compared to the corresponding period in 2019, the year before the pandemic. This fact shows the reversal of the trend that has prevailed in the last two years due to the pandemic, notably in the case of last-minute bookings. In both 2020 and 2021, a large percentage of bookings were made in the days immediately prior to the arrival of visitors. This appears to be changing this season, and the market is starting to function as it did before the pandemic.

Similarly, as AirDNA analysts point out, in contrast to southern European destinations, countries with colder climates such as Great Britain, Ireland and Finland are seeing a significant drop in reservations for the summer, at least on the basis of the data so far. This means that more and more people will holiday in the Mediterranean countries this year, as most of the restrictions of the past two years ease and increasing numbers of people are willing to travel.

It has also been noted that the ongoing war in Ukraine hasn’t had a negative effect on the rate of bookings for this summer, at least for popular holiday destinations such as Greece, Spain, Italy and Portugal. 

The picture of the reservations made in areas close to Ukraine is also interesting. In many cities bordering Ukraine, there has been a spike in bookings since the pre-invasion period. In Helm, Poland, for example, bookings increased by 614% between February 24 and March 19, while in Tulcea, Romania, the increase reached 319%, and in Velense, Hungary, the increase was 311%. In Chisinau, Moldova, bookings increased by 80%. 

It should be noted that both Airbnb and Vrbo have removed their ads from Russia and Belarus, while many Ukrainian supporters abroad have made tens of thousands (61,406 until March 4) of virtual accommodation bookings to financially support landlords in the country. 

This article was previously published in Greek at kathimerini.gr.