Italy, Malta, Cyprus, Croatia, Spain, France, And Portugal Watch Greece Capitalize On A One Hundred Twenty-Three Percent Growth In Short-Term Rentals, Strengthening Its Position As A Global Tourism Leader

Published on September 1, 2025

Greece has seen an extraordinary one hundred twenty-three percent surge in short-term rentals between 2018 and 2024, outpacing its Mediterranean neighbors like Italy, Malta, Cyprus, Croatia, Spain, France, and Portugal. This remarkable growth has positioned Greece as a leader in the region, addressing gaps in its accommodation infrastructure and meeting the increasing demand from international tourists. As Greece continues to attract millions of visitors each year, its booming short-term rental market has played a crucial role in diversifying its lodging options, offering travelers unique and personalized stays, and significantly contributing to the country’s tourism sector’s success.

Between 2018 and 2024, Greece experienced a remarkable growth in the short-term rental market, with a staggering 123.1% increase in the number of short-term rentals available. This surge places Greece among the leaders in the Mediterranean region, significantly outperforming many of its counterparts, such as Croatia, Cyprus, France, Italy, Malta, Portugal, and Spain. According to data from AirDNA, a consultancy firm specializing in short-term rental data, Greece’s growth in this sector stands out as one of the most significant in the region.

This dramatic rise in short-term rentals can be attributed to several factors, including changes in travel habits, the country’s appeal as a global tourist destination, and the overall boom in the sharing economy. Over the years, Greece has become increasingly popular with international travelers who are looking for a more personalized and often more affordable alternative to traditional hotel accommodation. The ability to stay in short-term rental properties, ranging from luxury villas to simple apartments, has attracted millions of visitors who seek unique local experiences, especially in key tourist areas like Athens, Santorini, Mykonos, and Crete.

The majority of stays in these short-term rentals are by foreign visitors. Data indicates that over 80% of bookings were made by international tourists, with many choosing short-term rental options for their perceived advantages, such as greater privacy, more space, and the opportunity to immerse themselves in local neighborhoods. These foreign visitors often look for flexibility, whether for a weeklong getaway, a longer stay, or as a base to explore the country’s rich cultural and natural attractions. Short-term rentals in Greece cater to these needs, offering an array of options from beachfront apartments to private homes with spectacular views of the Aegean Sea.

This growing trend in short-term rentals has also led to an expansion in Greece’s accommodation infrastructure. Eurobank economists have pointed out that the boom in short-term rentals, coupled with the development of new hotels, has played a crucial role in filling a gap in the country’s lodging infrastructure. Greece’s tourism sector had previously been heavily reliant on traditional hotels, many of which were concentrated in a few major cities and islands. The influx of short-term rentals helped to diversify the accommodation options available to visitors, particularly in smaller towns and less-visited regions. This diversification is essential in meeting the demands of an evolving global tourism market, where travelers increasingly seek alternatives to conventional lodging, particularly as the preference for unique and authentic experiences grows.

The rapid expansion of short-term rentals also reflects broader trends in the global tourism industry, where platforms like Airbnb, Vrbo, and Booking.com have revolutionized the way travelers book their accommodations. The growing preference for these platforms is in line with shifts in consumer behavior that favor more personalized, home-like experiences over the standard hotel stay. For Greece, this trend has been a major boon, particularly as international tourists seek greater value for money, especially during the peak travel seasons.

While short-term rentals have brought substantial economic benefits to Greece, they have also sparked debates about the impact on local communities and the housing market. In popular tourist destinations, the surge in short-term rental properties has contributed to rising rental prices, making it increasingly difficult for local residents to find affordable long-term housing. This issue has led to discussions around the need for regulation to ensure that the growth of short-term rentals is sustainable and does not negatively affect local populations. Several cities around the world, including Athens, have introduced measures to regulate the short-term rental market, ensuring that it complements rather than competes with the local housing needs.

Despite these challenges, the rise of short-term rentals in Greece has undoubtedly had a transformative impact on the tourism sector. The increased availability of diverse and affordable accommodation options has played a vital role in the country’s ability to handle a rising influx of international visitors. By expanding the range of lodging options available, Greece has successfully attracted a broader demographic of tourists, including millennials and digital nomads, who prefer the flexibility and cost-effectiveness offered by short-term rental properties.

Moreover, the short-term rental market has helped to address seasonality issues that have traditionally plagued the Greek tourism industry. While summer months tend to see the highest number of visitors, short-term rentals have made it easier for tourists to find accommodation during the off-peak seasons, particularly in less tourist-heavy areas. This has led to a more even distribution of tourism throughout the year, supporting local economies that were previously reliant on a short, intense tourist season.

The future of the short-term rental market in Greece looks promising. With the country continuing to attract millions of international visitors each year, the demand for alternative accommodation options is expected to remain strong. As Greece works to enhance its infrastructure, both for tourists and residents, the challenge will be to balance the benefits of short-term rentals with the needs of local communities. As the market continues to evolve, ensuring a sustainable and well-regulated environment for both hosts and guests will be key to maintaining Greece’s position as a top global tourist destination.

Greece has experienced an impressive one hundred twenty-three percent growth in short-term rentals from 2018 to 2024, surpassing its Mediterranean counterparts like Italy, Malta, Cyprus, Croatia, Spain, France, and Portugal. This surge has helped bridge accommodation gaps and strengthen Greece’s position as a top destination for international tourists.

Greece’s substantial growth in the short-term rental market between 2018 and 2024 reflects not only the country’s rising popularity as a travel destination but also the broader global trends in the tourism and hospitality sectors. With the continuing influx of international visitors, short-term rentals are playing an essential role in diversifying the country’s accommodation infrastructure, meeting the needs of modern travelers, and contributing to the ongoing growth of Greece’s tourism economy.