The number of available short-term rental listings in Greece fell 2.5% in June from a year earlier to about 156,000, according to data from AirDNA, a research firm that tracks platforms including Airbnb and Vrbo. The decline extends a trend that began earlier this year, though the pace has eased from drops of as much as 6% in the opening months of 2026.
The contraction follows regulatory changes introduced in October 2025 that tightened technical and operating requirements for short-term rentals, effectively pushing some properties out of the market.
For hosts and professional property managers who remain active, the reduced supply has helped reinforce pricing power.
The average daily rate for a short-term rental in Greece rose 12.2% in June from a year earlier to €178.80, or roughly $208, according to AirDNA. That was well ahead of the 7.5% increase recorded across Europe. Revenue per available rental night, a key industry measure known as RevPAR, climbed 11% to €115.40.
Demand, meanwhile, softened only slightly. Overnight stays in Greece declined 2.1% from June 2025, compared with a 3.3% drop across Europe as a whole. Occupancy was essentially unchanged at 64.5%.
The figures suggest that Greece’s short-term rental sector is proving resilient despite a more complicated environment for European tourism, marked by high prices, changing travel patterns and growing concern over extreme summer heat.
Advance bookings point to a stronger peak season. Demand already booked for the third quarter is running 6.4% above last year’s levels. Reservations for July and August are 4.9% higher, while booked rates are up 17.8%. Occupancy for the two-month period is only marginally higher, by 0.7%, indicating that much of the revenue growth is being driven by price rather than significantly fuller properties.
That puts Greece in an unusual position. While some Mediterranean destinations are facing weaker peak-season demand, Greek hosts have so far been able to raise rates without a meaningful decline in occupancy.
One of the forces reshaping the European travel market is the rise of the so-called “coolcation,” as increasingly intense heat waves lead some vacationers to seek milder climates.
Short-term rental bookings for July and August in parts of Northern Europe and Scandinavia are running between 14% and 21% above year-earlier levels, according to AirDNA.
By contrast, advance bookings in Spain are down 6% for the peak summer period, while Croatia is down 4%.
The shift suggests that climate is beginning to influence not only where Europeans travel, but also when they take their main vacations.
So far, Greece appears to be holding its ground. Demand from its core inbound tourism markets remains strong enough to sustain occupancy, while limited supply has given property owners room to lift prices.
The broader European short-term rental market is also settling into a new pattern.
Across Europe, the number of available listings reached 4.07 million in June, up just 1.3% from a year earlier. That was the weakest rate of supply growth since April 2022, suggesting that the rapid expansion seen in previous years is slowing as the market matures and regulation becomes more restrictive in a number of countries.
At the same time, overnight stays across Europe fell 3.3% to 46.1 million. Occupancy slipped to 60.3% from 61.9% a year earlier.
Yet weaker occupancy hasn’t stopped hosts from charging more. The average daily rate across Europe rose 7.5% to €150, while revenue per available night increased 4.8% to €90.50.
AirDNA says the June weakness appears to reflect a change in the timing of travel rather than a broad deterioration in demand.
Travelers are shifting some trips away from June and toward the traditional peak months of July and August, while September is emerging as an increasingly important extension of the summer season.
Forward bookings support that view. Reservations for July are 5.3% higher than a year ago across Europe, August bookings are up 5.4%, and September is showing the strongest growth, at 9.6%.
The trend could reflect a combination of factors, including travelers seeking to avoid early-summer uncertainty, families concentrating trips around school holidays and vacationers increasingly choosing September in search of lower temperatures and potentially better value.
Supply trends also vary sharply by country.
France remains Europe’s largest short-term rental market, with about 1.06 million listings, followed by Italy with 556,000, the U.K. with 404,000, Spain with 382,000 and Germany with 363,000.
Spain stands out for the scale of its contraction. Available listings there fell 12.5% from a year earlier following efforts to remove properties from short-term rental platforms that began in the second half of 2025.
Among major European markets with more than 75,000 listings, Greece and Croatia are the only other countries where supply continues to decline. Croatia’s available listings fell 3.4%, amid a more prolonged slowdown in demand.
Elsewhere, the market is still expanding. Supply in Poland rose 7.2%, the strongest increase among the larger markets, while Denmark recorded growth of 6.2%. Portugal also continued to add listings.
