Of the 277 regional markets in Greece, 119 have an average ADR of €100 or less. However, 16 of them have an average rental price of €250 or higher, as they are aimed at luxury travelers. Mykonos, in particular, with an average of €754.39, catapults Greece's position among the most expensive countries in Europe.
The most expensive country is Iceland, followed by Monaco, the United Kingdom, while Spain completes the top five.
More generally, June saw a record in Europe for accommodation rentals through the Airbnb platform which reached a record high of 44.5 million in June, up 18.6% year-on-year (year-on-year). Available listings continued to grow steadily as well, reaching 3.8 million, up 14.8% year over year.
Last month's strong demand also kept occupancy growth positive, which averaged 59% in June, up 1.4% year-on-year.
The countries with the largest year-over-year (YOY) growth in June were:
Czech Republic (+25.3%)
Sweden (+27.4%)
Poland (+27.7%)
Norway (+29.3%)
Finland (+32.3%)
RevPAR increased in 13 of the top 20 EU markets
Strong growth in demand doesn't always mean more revenue for hosts. 4 of the top 5 countries driving demand growth in June actually saw year-over-year (YOY) RevPAR declines. Keep in mind that RevPAR combines your average daily rate (ADR) with your occupancy rate
In Denmark, 15.4% YoY RevPAR growth was driven by 12.8% YoY ADR growth and 2.3% YoY occupancy growth.
Germany, which has hosted EURO 2024 since June 14, saw ADRs rise 6.7% year-on-year last month, while occupancy rose 2.3%.
In Spain, occupancy growth of 5.9% combined with ADR growth of 2.9% led to a 9% YoY increase in June RevPAR.
*Average Daily Revenue (ADR) is a key metric in the Short Term Rental (STR) industry. Reflects average rental income per nightly booking, including overnight stays and additional fees such as cleaning fees.
