Greece’s short-term rental market gains momentum as nightly rates rise

Across the country, occupancy stands at 34.85%, up from 34.58% a year earlier, representing a marginal increase of 0.8%. By contrast, the average nightly rate has risen by 7.9% to €121.55, from €112.68.

The performance was stronger than that of the European market, where the average daily rate increased by 7.8% to €157, while occupancy declined by 1.4 percentage points to 66.9%.

Greece and Albania were the only two among Europe’s 20 largest short-term rental markets not to record a decline in occupancy during the summer season.

Cyclades: €268 Average Nightly Rate

According to data from Hosthub, based on a sample of more than 17,000 properties and comparing bookings made through September 25, 2026, the Cyclades recorded the highest rates among the main markets included in the survey.

The average rate reached €267.56 per night, up from €252.25 in 2025, representing an increase of 6.1%. At the same time, occupancy rose to 23.08% from 20.70%, an increase of 11.5%. As a result, RevPAR increased by 18.2% to €61.76, from €52.23.

Hosthub notes, however, that the high average rates in the Cyclades—as well as in Crete and the Ionian Islands—are influenced by the inclusion of luxury villas in the sample and recommends placing greater emphasis on trends rather than absolute figures.

Southern Suburbs: 22.7% Jump in Revenue

The strongest increase in RevPAR among the areas disclosed was recorded in the southern suburbs of Athens. Occupancy rose by 12% to 43.30%, from 38.68%, while the average nightly rate increased by 9.6% to €107.43, from €98.

The combination of higher occupancy and increased rates pushed RevPAR to €46.52, from €37.91, representing an increase of 22.7%. The performance differs significantly from that of central Athens, where there are signs that the market is stabilising.

In central Athens, occupancy declined by 2.7% to 44.74%, from 45.97%, while the average rate increased by 4.3% to €96.69. RevPAR therefore recorded a limited increase of 1.5%, reaching €43.26.

This was the lowest RevPAR increase among the six individual markets publicly presented in the analysis.

Thessaloniki: More Bookings and Higher Rates

Thessaloniki posted a stronger performance, with both key indicators moving higher. Occupancy increased by 7.3% to 46.69%, from 43.51%, while the average nightly rate rose by 5.1% to €65.08. RevPAR consequently reached €30.39, from €26.95 in 2025, representing an increase of 12.8%.

Crete and the Ionian Islands

In Crete, occupancy remained essentially stable, at 30.52% compared with 30.27%. However, the average rate increased by 7.8% to €144.51, driving an 8.7% increase in RevPAR to €44.11.

In the Ionian Islands, occupancy rose by 4.6% to 28.35%, while the average rate reached €205.30, up 6.9%. RevPAR stood at €58.20, recording an increase of 11.8%.

The Fourth-Quarter Test

The available data show that Greece’s short-term rental market is maintaining its momentum, but growth is now being driven more by the ability to increase rates than by adding more occupied nights.

For the fourth quarter, occupancy already recorded for the October–December period stood at 10.0% as of September 25, compared with 9.8% at the same point in 2025, an increase of 1.6%. Hosthub notes that last year’s quarter ended at a significantly higher level due to last-minute bookings, leaving the final picture for 2026 still open.