Greek short-term rentals averaged €15,200 in annual income, Hosthub reported in May 2026

On May 6, 2026, reports based on performance data compiled by Hosthub showed that the average annual income from a short-term rental property in Greece reached €15,200 in 2025. The figures indicated that the country's short-term rental market was continuing to expand, though it was transitioning toward a more mature and balanced operational phase that relied less on aggressive price increases and more on occupancy and asset utilization.

The performance metrics, which reflected data from a significant part of the short-term rental market, showed that the national average occupancy rate stood at 40.9% in 2025. During the same period, the average nightly rate across the country was €121, demonstrating a stable baseline for property owners and managers operating in both urban centers and island destinations.

What the data shows

According to the Hosthub data published in May 2026, the performance of short-term rentals in Greece varied widely by geographic region, revealing distinct operational models. The Cyclades recorded the highest returns nationwide, with an average annual income of €19,800 per property in 2025. This high revenue was achieved despite a relatively low average occupancy rate of 22.3%, as property managers commanded a high average nightly rate of €260. Destinations such as Mykonos and Santorini continued to set the price level in this region, despite the correction of the previous two years due to higher prices and external factors.

In contrast, the Ionian region secured the second-highest returns in the country, posting an average annual income of €18,900. The operational model in the Ionian relied on a higher average occupancy rate of 28.9% combined with a lower average nightly rate of €193. This combination shaped a different but equally efficient model compared to the high-rate, low-occupancy structure of the Cyclades.

In central Athens, the market demonstrated high stability and maturity. The average annual income for properties in the capital was €17,900 in 2025. This income was driven by a high average occupancy rate of 55.6%, which offset a lower average nightly rate of €109. A similar picture was seen in the southern suburbs of Athens, where proximity to the sea boosted demand, resulting in slightly lower occupancy but higher nightly prices than the city center.

Crete also performed as a mature market in 2025, generating an average annual income of €16,300 per property. The island maintained an average occupancy rate of 35.5% and an average nightly rate of €140. Growth in Crete was characterized by a steady strengthening of demand rather than rapid price fluctuations.

Thessaloniki recorded the lowest average annual income among the highlighted regions at €12,700 in 2025. However, the city achieved the highest average occupancy rate in the country at 61%, while maintaining a lower average nightly rate of around €71.

How it was measured

The metrics were compiled by Hosthub, a property management software provider. The company stated that its data reflected the performance of a significant part of the short-term rental market in Greece during the 2025 calendar year, with projections extending into 2026. The figures represented actual booking performance, including occupancy rates, average nightly rates, and annual revenues across different regions.

The primary source did not publish the exact methodology used to gather these figures, nor did it disclose the total number of properties, listings, or active hosts included in the Hosthub database. The report did not specify whether the properties tracked were listed on a single platform or across multiple booking channels such as Airbnb, Vrbo, and Booking.com. It also did not provide details on the size or distribution of the properties, such as whether they were apartments, villas, or shared rooms.

Regional performance models

The data highlighted a clear division between high-rate, low-occupancy leisure markets and high-occupancy, lower-rate urban markets. The Cyclades represented the extreme end of the high-rate model. Property managers in this region generated the highest annual revenue in Greece while leaving properties vacant for more than three-quarters of the year on average. The high nightly rates of €260 compensated for the low occupancy of 22.3%, allowing hosts to achieve premium returns within a compressed booking window.

The Ionian islands presented a slightly more balanced variation of this leisure model, trading a lower nightly rate of €193 for a higher occupancy rate of 28.9% to achieve comparable annual returns of €18,900. This suggested that the Ionian was highly efficient at capturing demand without relying on the extreme pricing seen in the Cyclades.

Urban centers like Athens and Thessaloniki operated on the opposite end of the spectrum. These markets relied on consistent, year-round demand to maintain high occupancy rates. Thessaloniki's occupancy rate of 61% was almost triple that of the Cyclades, yet its low average nightly rate of around €71 resulted in the lowest annual income among the analyzed regions. This suggested that while urban properties required significantly more operational management due to frequent guest turnovers, they provided a steady stream of bookings and high asset utilization.

Market dynamics and drivers

Several factors influenced these performance metrics in 2025 and shaped the expectations for 2026. In the Cyclades, the high nightly rates persisted despite a correction that occurred during the previous two years. This correction was attributed to higher prices and external factors. For 2026, Hosthub expected a notable shift in the Cyclades, with revenue per property projected to increase by 41.3% and occupancy expected to rise by 32.96%, while prices were forecast to rise more moderately. This development showed a return of demand and a transition to a more sustainable growth model, with greater emphasis on occupancy and the overall guest experience.

In the Ionian, the trend for 2026 pointed toward continued strengthening, with demand upgrading in quality. The market expected to attract more guests of a higher income level, see a longer length of stay, and experience faster absorption of availability during peak months.

Central Athens was characterized by stability without excess, with a mild increase expected in both occupancy and income for 2026 without strong fluctuations. In Crete, growth for 2026 was not expected to rely on price increases. Instead, the market anticipated a deeper strengthening of demand, characterized by more bookings, a longer season, and better utilization of properties to generate higher overall income.

In Thessaloniki, the outlook for 2026 was strongly upward, with significant increases expected in both occupancy and income, indicating better utilization of demand and an overall upgrade of the market.

Impact on hosts and investors

These findings suggested that the short-term rental market in Greece was moving into a new phase. Growth was continuing, but with different characteristics. The market was experiencing less dependence on aggressive price increases and a greater emphasis on occupancy, product quality, and the overall guest experience. This shift was expected to strengthen the sector's sustainability and create the conditions for a more stable and resilient trajectory in the coming years.

For property investors, this shift meant that purchasing decisions could no longer rely solely on the assumption of rising nightly rates. In mature markets like Crete and Athens, sustainability and returns were increasingly tied to operational efficiency and guest satisfaction. Investors looking for high returns with lower operational wear and tear might have favored the Cyclades model, while those seeking steady, year-round cash flow with less seasonal volatility might have looked to Athens or Thessaloniki.

For hosts in high-cost regions like the Cyclades, the projected 32.96% increase in occupancy for 2026 highlighted a transition toward a more sustainable growth model, where maintaining high occupancy and delivering a quality guest experience became more critical than pushing nightly rates higher.

What the data does not reveal

While the Hosthub report provided a broad overview of average revenues and occupancy rates, it left out several critical financial details. The figures represented gross annual income and did not account for the operating costs associated with managing short-term rentals. These costs include platform booking fees, local lodging taxes, utility bills, maintenance, cleaning services, and property management fees, which can significantly reduce net returns.

Additionally, because the report did not specify the distribution of property types, it was unclear whether the high average rates in the Cyclades were driven by luxury villas or if standard apartments also commanded premium pricing. The data also did not reveal the performance differences between individual islands within the Cyclades and Ionian groups, masking potential underperformance in lesser-known destinations. Furthermore, the report did not provide historical context on how the 2025 figures compared to pre-pandemic baselines, making it difficult to assess the long-term growth trajectory of the market.

What to take from it

The shifting dynamics of the Greek short-term rental market in 2025 and 2026 provide several key lessons for hosts, managers, and investors looking to evaluate their own performance.

• Compare occupancy and rate balances against regional benchmarks to determine if your property is optimized for maximum yield or if you are over-relying on high rates at the expense of occupancy.
• Evaluate the operational costs of high-turnover properties in urban centers like Athens and Thessaloniki, ensuring that the high occupancy rates justify the increased cleaning and maintenance expenses.
• Monitor local demand trends rather than relying on national averages, as performance drivers in seasonal island markets differ fundamentally from those in year-round urban destinations.
• Assess whether your local market is entering a mature phase where growth is driven by longer stays and booking volume rather than aggressive price increases.