Despite a mild downturn in key financial indicators, the short-term rental market continues to clearly outperform long-term residential leasing in central Athens.
In 2025, average revenue per available unit fell by 4% compared with the previous year. This decline is largely attributed to an expanding supply of short-term rental properties and a slight decrease in average nightly rates.
Even so, short-term rentals remain considerably more profitable for property owners than traditional long-term leases.
Based on occupancy levels and average daily rates, annualized monthly revenue from short-term rentals in central Athens amounted to approximately €1,740 in 2025. After deducting operating expenses, management fees and taxes, net monthly profit is estimated at around €800. By comparison, the average net income from leasing a 75-square-metre apartment on a long-term basis does not exceed €600 per month. This figure does not take into account additional costs such as major maintenance works or property-related taxes, including Greece’s annual real estate levy.
The income gap of at least €200 per month continues to serve as a strong incentive for owners to keep their properties in the short-term rental market. Beyond higher returns, short-term leasing offers structural advantages, such as advance payment of rental income and more frequent oversight of the property’s condition. These factors significantly reduce the risks associated with unpaid rent or extensive wear and tear, reinforcing the appeal of short-term rentals despite softer yields.
As a result, short-term rentals remain the financially preferred option in central Athens, even as the market shows signs of stabilisation rather than rapid growth.
By the end of 2025, the number of short-term rental units in the city centre had risen to approximately 14,350, representing a 12% increase compared with 2024. This expansion is particularly notable given that no new property registration numbers—the mandatory licensing requirement for short-term rentals—have been issued in the affected municipal districts since the autumn of 2024.
The continued growth is largely explained by the timing of the regulatory announcement. When the forthcoming restrictions were made public in late 2024, many property owners rushed to secure registration, even if they had no immediate plans to operate in the short-term rental market. A substantial share of these properties eventually entered the market during 2025, sustaining the upward trend in supply.
