Short-term rental hosts left disappointed

The short-term property rental market has become a trap for the majority of owners who entered into it due to the problems the pandemic created to the sector.

With the exception of some areas in Athens' city center and southern suburbs  that enjoyed some demand in the summer months only, the number of foreign visitors to Greece was definitely not enough to justify the investment in the renovation or reconstruction of properties for their utilization through online short-term leasing platforms.

The statistics on property ads on platforms such as Airbnb and HomeAway showed a steep decline from the highs of two years ago. On average, the drop is calculated at around 50%, while there also are some cases in areas like the suburbs of Filothei and Psychico in northern Athens where it has come to 70%.

In general, the drop has been more dramatic in the northern suburbs,...