The data from AirDNA for October indicate the consolidation of the short-term rental market in Greece, with demand stabilizing and total revenue increasing, despite declines in supply and prices.
Specifically, available listings fell by 2%, or by 2,878, from 142,551 in October 2024 to 139,673.
Overnight stays increased slightly by 1%, reaching 1,446,233, while occupancy rose to 52.4% (+0.9%), supported by the decline in listings compared to last year, indicating stable demand for Greece in October.
At the same time, total revenue climbed to 192.8 million euros, marking the strongest positive change (+4.2%) compared to the other indicators for short-term rentals in Greece.
3.6% drop in prices and -2.8% in revenue per accommodation
In contrast, the average daily rate (ADR) fell by 3.6%, to 114.41 euros, reflecting a market under pricing pressure, either due to competition or deliberate price restraint strategies to boost demand during this period.
Similarly, revenue per available rental decreased by 2.8% and settled at 59.95 euros. This decline confirms that the rise in demand was not enough to offset the decrease in prices.
The market is “maturing” in Europe
At the European level, the short-term rental market moved downward in October 2025 compared to the same month in 2024, as the increase in supply outpaced demand. Available listings in Europe rose by 1.8%, reaching 3.6 million, while overnight stays decreased by 0.5%.
This imbalance led to a drop in average occupancy to 54.9% (-1.8% YoY) and a reduction in revenue per available rental (RevPAR) by -3.3%, to 66 euros, confirming the transition to a more mature and competitive market.
Among the largest price declines in Europe, Greece stands out
The average daily rate (ADR) across Europe fell by 1.5% compared to October 2024. Among the three countries with the greatest losses was Greece (-3.6%), following France (-7.9%) and Finland (-4.8%).
The drop in prices in October 2025, depending on the destination, is linked to major events such as the Paris 2024 Olympics and this year’s price “correction,” as well as the 1.9% increase in supply, mainly from lower-priced listings, which has shifted the market mix downward.
At the same time, established hospitality providers maintain strong pricing power and can outperform inflation. Newer hosts compete at lower nightly rates, collectively reducing the national average ADR.
Increase in supply in 16 of the 20 largest markets
European supply is highly uneven. Spain recorded a drop of 8.2%, as regulatory measures introduced in August targeted tens of thousands of rentals and led to a reduction of 33,000 units in October alone.
Germany led Europe in absolute supply growth, adding 25,000 listings and showing a 7.8% year-on-year increase.
France (+1.9%), the largest short-term rental market in Europe, added nearly 18,000 units in October, the second-highest nominal increase across the continent.
Italy saw a decline of 0.6%, while the United Kingdom posted an increase of 2.1%.
Some Central and Northern European markets, such as Norway and Denmark, also recorded strong growth in supply, intensifying pressure on occupancy levels.
Occupancy declines in most European countries
The increase in supply, combined with softening demand, led to falling occupancy in most markets, with the sharpest drops recorded in Croatia (-5.7%), Norway (-5%), and Sweden (-4%).
In contrast, Hungary (+2.3%), Czechia (+1.8%), and Belgium (+1.1%) recorded the largest increases.
Decrease in forward bookings through May 2026
The overall trend indicates that travelers remain interested in key winter and summer holiday periods, but shorter booking windows and macroeconomic caution could reduce future demand, particularly during off-peak months.
For the period through May 2026, forward bookings in Europe show a 2% decline compared to last year. March and April show the greatest pressure (-5% to -7%), reflecting uncertainty and shorter booking windows among travelers.
However, December bookings show a 3% year-on-year increase, indicating strong demand for travel during the holiday period. May 2026 currently remains unchanged compared to last year, an encouraging sign that booking momentum may be stabilizing as summer approaches.
