Short-term rentals become big business

An ever-greater share of the short-term property leasing market in Greece is passing into the hands of investors and professional property managers, a trend that is also being observed in many other countries.

Athens, in fact, ranks second among 18 major European cities in this respect, as more than half (53 percent) of the properties available for short-term renting through online platforms such as Airbnb, HomeAway etc, belong to a professional or investor in the real estate sector.

The Greek capital comes second only to Prague (56.5 percent) and just above Budapest (50.3 percent). High rates are also recorded in Barcelona (49.8 percent), Madrid (48.2 percent) and London (45.7 percent). In contrast, Scandinavian markets such as Copenhagen and Stockholm show very low rates, at 9.6 percent and 10.5 percent respectively.

As property consultancy Arbitrage Real Estate...