Significant growth in Athens, Crete, and the Ionian Islands, and a “correction” in performance in the Cyclades, compared to 2024, are reflected in the data presented by Hosthub on the state of the short-term rental market in Greece, based on demand trends from the beginning of the year through September 2025.
The overall picture from the sample of properties in Hosthub’s Greece “portfolio,” regarding bookings made during the first nine months of 2025 for the entire year, compared to last year’s data, shows a notable increase in occupancy rates by 2.16%, reaching 35%, and a decrease in the average nightly rate by 1.79%.
Athens city center shows strong performance
The center of Athens recorded a significant increase in occupancy rates, rising by 7% (to 49%), and an increase in the average nightly rate by 2.85%, reaching €92. These figures indicate a stable and healthy recovery of the market, with rising demand and no significant pressure on prices. Unlike last year, when managers had higher expectations for rate increases, this year’s price growth appears more stable and organic, reflecting a mature market that attracts visitors year-round.
Steady upward trend in Crete
Crete also shows a strengthened performance, where the average occupancy rate for short-term rentals rose by 2.67% from last year, reaching 30%. The average price increased by 5.48%, reaching €120. These figures highlight a market in steady upward development, where the increase in average price is accompanied by moderate growth in occupancy.
Dynamic growth in the Ionian Islands
In the Ionian Islands, occupancy rates surged by 10.55%, reaching 27.6%, indicating a rapidly growing short-term rental market. Prices rose at a slower pace (+2.54%, reaching €158). The rising demand is accompanied by a modest price increase, maintaining a balance between occupancy and revenue per property.
Low occupancy and prices in the Cyclades
A significant correction, in contrast to the broader trend seen in key Greek destinations, is observed in the Cyclades. Occupancy rates dropped by 9.5% compared to last year, and the average nightly rate decreased by 13.2%, to €220.5 from €254. Factors affecting short-term rental performance in the Cyclades include fluctuating demand, high operating costs, and recent seismic activity in Santorini, which appears to have affected visitor confidence, contributing to lower bookings and reduced prices.
Stabilization in Athens’ Southern Suburbs
The short-term rental market in Athens’ southern suburbs showed signs of stabilization, with a marginal increase in occupancy and a slight decrease in prices, which this year average €101.4. These figures suggest market maturity, as demand remains stable despite the area’s growth potential. Unlike previous years, when the Athenian Riviera experienced rapid growth, this year marks a period of stabilization, likely due to market maturity and price adjustments by managers.
Thessaloniki remains a “safe” investment
Thessaloniki recorded a 3.28% drop in occupancy, down to 46%, while the average nightly rate increased by 6.82%, reaching €68.6. The slight decline in occupancy combined with rising prices reflects a pricing strategy by managers aiming for higher revenue per booking amid steady demand. Thessaloniki also continues to show low seasonal fluctuations compared to other areas, making it a safe market for short-term rental investments, with a focus on optimizing price and availability throughout the year.
