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Short-term rentals are coming of age

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The number of individual owners using properties through online short-term rental platforms has registered a significant decline compared to 2019. In contrast, listings from professionals (investors or property managers) have registered an increase, signaling an industry shift towards short-term rentals. A more professional operating method.

The pandemic, which has sharply reduced demand for short-term accommodation, and a significant increase in rental rates since 2018, averaging around 30-40% in the metropolitan areas of Athens and Thessaloniki, has pushed many landlords back to long-term accommodation. I was. term lease.

Based on data collected by short-term rental research firm AirDNA on Kathimerini’s behalf, only one in three listings in Athens currently involves an owner with one property listed. The share of private owners is 31%, down from 42% in 2019. Nationally, the corresponding proportion is 40% from 46% in 2019.

The biggest increase is seen in owner listings between 6 and 20 properties. The share of this category today in Athens he has increased from 15% in 2019 to 22% and nationwide he has increased from 11% to 15%. However, for popular holiday destinations such as Mykonos, for example, the increase is even greater as their corresponding share is now 25% of all listings, compared to 17% in 2019.

At the same time, an important development concerns the penetration of professional property management companies, especially in Athens. Companies managing 21 or more properties now make up 21% of the list, compared to 16% in 2019. Some companies, such as Dimitris Rizos’ Homm, manage both privately owned and third party owned properties. According to AirDNA’s annual survey released a few months ago, Homm manages a total of 218 facilities, making it the largest company of its kind in Greece. Other companies, such as Nasos Gavalas’ Mint, manage only third-party properties.

In a separate analysis, Transparent, a strategic partner of STAMA Greece (Association of Short-Term Accommodation Managers), reported that the Athens market registered the second largest increase at European level in an analysis a few weeks ago. professionals working there.

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