The supply of winter homes for short-term rentals this year is considerably reduced compared to 2019, therefore the number of bookings is significantly limited, according to recent AirDNA figures.
The decline in supply has this month led to a drop in bookings by up to 80% from December 2019, the last year of comparable data, as there can be no comparison with 2020 when the country was on lockdown.
The data from the company, which monitors the short-term rental market, reveal that this year’s bookings of homes for the winter period in the popular village of Trikala in Corinthia are down 80% compared to two years ago. Bookings for the villages of Mount Pilio dropped 61%, for Arachova on Parnassos 43%, for Kalavryta 41% and for Karpenisi 40%.
Supply is also reduced, with the data showing that there are 41% fewer winter homes listed in Trikala Corinthias, 37% fewer in Arachova, 24% in Karpenisi, 23% in Kalavryta and 18% in Pilio.
The reduced supply means a better picture regarding occupancy rates and the average rate of booking per night. Another reason pushing prices higher is the fact that the few homes that are available tend to be in a higher price range. As observed in summer and city break destinations too, the fewer the ads on offer, the higher the quality of supplied properties due to the reduced number of hosts: These are mainly professionals, either from the tourism sector or property management companies, offering high-quality assets, which is reflected on rates too.
For instance, in Arachova near Delphi, the average rate stands at 231 euros per night this month, just 8% below the rate two years ago, while for January 2022 the average price is 20% higher than two years earlier, at €249/night.
The picture is even better in Trikala Corinthias, where the average rate this month is 66% higher this month at €168/night, and 77% higher in January at €193/night, even though occupancy has dropped by 34% and 62% respectively.
Prices are generally higher for January, thanks to the improvement in bookings, as data also show for Pilio and Karpenisi, with rates at the latter coming close to €200/night.
This article was previously published at ekathimerini.com.
