As market players say the platform "destroyed Europe the same way it did America" and now, European lawmakers are starting to take action on both short-term rentals and the sharing economy.
When Airbnb came to Europe, it received a warm welcome similar to the one it received in the US. It is recalled that the platform was originally a home-sharing site where like-minded vacationers around the world could spend time in unique spaces without being in a tiny hotel room. And for a while, it was, until people realized they could turn this whole thing into a "small business".
The tip of the "iceberg"
Short-term rental did not take long to develop in the Greek market as well. Suddenly investors "remembered" the real estate industry and started buying mostly old apartments which they could turn into modern hospitality spaces generating passive income. At the same time, with the individual cases, investment funds entered the "game" which drove the market prices to the heights and dramatically reduced the available properties.
Our country nowadays is one of the most expensive short-term leasing market. The average price per night in the summer was €204, respectively in Switzerland it reached €208, in Britain €205 and in Iceland €230.
A contrasting picture is shown by several destinations in Europe this summer, such as Moldova with a price per night of only €47, North Macedonia €48, Kosovo €49, Albania €60, Serbia €62 and Bulgaria €72.
During this summer, 17% of visitors to accommodation in Greece came from the US, which was the fifth highest percentage in Europe, behind Ireland, Switzerland, Italy and Portugal.
