Should I turn my rental property into an Airbnb? Greece bookings soar, Spain mixed
Bookings for vacation rentals on platforms such as Airbnb soared by 200 percent in Athens this summer, versus 2019 levels, as the Greek capital ranked among the best performing cities globally, according to Rentals United Data Studio.
In Italy, the market is also recovering though taking more time to do so, while data for Madrid shows that bookings moved higher, rising some 8 percent from two years ago when the pandemic first hit Europe.
The gradual resumption of international travel helped boost crucial tourism sectors in Europe’s south this summer on the back of strong demand from European and US travelers.
The figures provided by Rentals United do not show not cover the month of August where tourism was particularly strong in markets such as Greece.
“Demand for vacation rentals in Greece has been huge this summer and that includes Athens too. Vacation rentals in Greece are especially popular among travelers from Spain, France and Italy,” says Rentals United in a statement.
“Thanks to their open borders and relaxed restrictions, compared to 2019, Athens has seen an average percentage increase of more than 201.01%,” highlights the company.
The best performing platforms for short term property rentals in Athens are Expedia, Airbnb, Booking.com, Ostrovok and Agoda, it adds.
In Spain, the country’s two largest cities, Madrid and Barcelona, are showing a mixed bag of results.
While Spain is bouncing back, Barcelona is taking a little longer to get back to pre-pandemic times. The spike in Covid cases in Barcelona in July clearly took a hit with reservations.
“Barcelona is starting to look a little more positive in terms of bookings but we still see an average percentage decrease of 28.4 per cent compared with 2019,” highlighted the company.
Tourism in Spain performed well this year supported by travelling Spanish residents though the pandemic continues to weigh on the number of foreigners visiting the country. Some hotels owners report experiencing a better season than in 2019 as the sector heads towards pre-pandemic levels.
In Italy, trends are similar with growth largely supported by domestic travelers.
“Italy as a whole is bouncing back tremendously well, thanks to its popularity with French travelers who are able to drive across the border. Italian cities, on the other hand, are taking a little longer to bounce back,” Rentals United says.