Greece ranks first among European countries in terms of seasonal growth in short-term rental prices: in the summer, the average rental price is 54.9% higher than in the rest of the year, according to data from the analytics platform AirDNA.
The AirDNA study was published on May 21, 2026, and updated on May 29. Analysts compared the average daily rate (ADR) for short-term rentals in June–August with the rate for the remaining nine months of the year.
In Greece, the average off-season rate is 112.64 euros per night, while in June–August it rises to 174.46 euros. Thus, the seasonal premium reaches 54.9%—the highest rate among the European countries analyzed.
Croatia ranks second, with summer prices 37.6% higher—€154.28 compared to €112.09 during the rest of the year. Portugal ranks third, with a seasonal increase of 36.5%, to €160.06 from €117.27.
Seasonal fluctuations are particularly pronounced on popular Greek islands. On Mykonos, the average cost of a short-term rental rises from approximately 458 euros during the off-season to 758 euros per night in the summer—an increase of 65.6%.
At the same time, even more dramatic fluctuations are observed among individual European resorts. For example, Portimão, Portugal, shows a seasonal increase of about 71.6%, but Greece ranks first overall among countries.
The sharp rise in prices is accompanied by steady demand. According to AirDNA estimates, before the start of the season, the number of nights booked in Greece for June–August 2026 was approximately 9.3% higher than a year earlier. For July, the growth in early bookings was 13.5%, and for August, 11.4%.
Actual statistics for the summer confirm the high price levels. In June, the average cost of a short-term rental in Greece reached 178.8 euros per night, an increase of 12.2% year-over-year, while the European average was 150.05 euros, up 7.5%. At the same time, the number of available properties in Greece decreased by 2.5%, to approximately 156,000
. In July, the average price rose to 200.35 euros per night, which is 12.8% higher than in July 2025. The European average rate was €159.20, up 8.2% year-over-year. Revenue per available night in Greece increased by 14.3% to €142.8.
Over a longer period, the growth is even more pronounced. According to AirDNA, the average cost of a short-term rental in Greece has increased by approximately 100% over the past ten years—from about 100 euros in 2016. Over the past five years, the increase has been about 38%.
However, the claim that Greece “has outpaced all of Europe in terms of Airbnb price growth” should be interpreted with caution. The top ranking specifically refers to seasonal summer growth—that is, a comparison of June–August with the rest of the year—rather than annual price growth. Based on actual July data, year-over-year growth in Greece was 12.8%, compared to an 8.2% average across Europe.
The total solar eclipse on August 12, 2026, became one of the biggest tourism events of the year for Spain and Iceland, causing a sharp increase in short-term rental bookings in cities located within the totality zone.
According to a study by the analytics platform AirDNA, published on July 29, 2026, demand for short-term rentals in Zaragoza, Spain, for dates around the eclipse rose by 123% compared to the same period last year. In Logroño, the increase reached 109%; in Burgos, 65%; in Valladolid, 64%; and in León, 63%. In Kópavogur, Iceland, the figure rose by 48%, and in Reykjavík, by 44%.
The path of totality will pass through Greenland, western Iceland, northern Spain, and a small section of northeastern Portugal. In most other European countries, the eclipse will be partial. Spain will be one of the prime viewing locations, as the total eclipse phase will cross the country from west to east and continue over the Balearic Islands.
The strongest impact on rental prices is expected in Iceland. The western and southern regions of the country, which fall within the path of totality, account for about 60.6% of the national supply of short-term rentals.
At the same time, the country’s entire market consists of only about 8,300 available properties. Given the limited supply, even a short-term influx of tourists could significantly increase the average cost of accommodation nationwide.
AirDNA expects that Iceland will see the most significant increase in the average daily rental rate. Additional demand is being driven not only by foreign tourists but also by residents, as a total solar eclipse has not been observed in Iceland for over half a century.
Interest is also extending to related events. A week before the eclipse, more than 90% of tickets for a four-day themed festival in Iceland had already sold out.
In Spain, approximately 86,300 short-term rental properties fall within the path of totality, representing 22.6% of the country’s total supply, which AirDNA estimates at roughly 382,400 listings.
Thus, in the Spanish eclipse zone alone, there are more than 16 times as many properties available as in Iceland’s entire short-term rental market. This allows Spain to accommodate significantly more tourists and keeps price increases in check, despite high demand.
Among the destinations expected to be in highest demand are Bilbao, León, Burgos, Zaragoza, Valencia, and Palma de Mallorca. Madrid and Barcelona are outside the path of totality, although a partial eclipse will be visible there as well.
Spain also has a more extensive network of air connections and a significantly larger supply of hotels and rental properties. Therefore, analysts consider it a more suitable option for travelers who book their trip immediately before the event.
However, the cost of specific accommodations can change rapidly. Property owners and management companies use dynamic pricing, automatically raising rates as demand increases and the number of available options decreases.
To assess the potential impact, AirDNA used data on the total solar eclipse in North America in April 2024. At that time, the occupancy rate for short-term rental properties in the total eclipse zone reached 88%, and the average daily rate increased by 18.4%. These figures are not a direct forecast for Europe, but they demonstrate the impact of a rare astronomical event on local rental markets.
The official primary source of data on the short-term rental market is the AirDNA study dated July 29, 2026. The eclipse path has been confirmed by the European Space Agency and NASA.
The booking rate for vacation rentals along Spain’s coast for August 2026 reached 85.5%, which is 1 percentage point higher than the figure for the same period last year, according to a study by the Rentalia platform published on July 29. The study is based on an analysis of availability calendars for apartments and vacation homes located no more than 15 km from Spanish beaches. In August 2025, the share of booked properties stood at 84.5%.
The highest occupancy rate was recorded in Mallorca, where 99% of vacation rentals were booked for the last month of summer. Next are the Asturian coast at 95.6%, Menorca at 94.6%, Lanzarote at 93.5%, and the province of Alicante at 92.2%.
In Murcia, the booking rate reached 89.1%; in Cantabria, 88.3%; in Cádiz, 87.5%; on the Costa del Sol in the province of Málaga, 86.8%; and in Almería, 86.5%. In Fuerteventura, the figure matches the national average at 85.5%, and on the Costa Brava, it stands at 85%.
The greatest number of available last-minute booking options remains on the coast of the province of Huelva, where 44.7% of accommodations are occupied. Relatively low occupancy rates were also recorded in Tenerife (72.4%), the province of Valencia (72.6%), the Costa Dorada in Tarragona (76.7%), and the Barcelona coast (77.9%).
Almudena Ucha, director of Rentalia, attributes the rise in demand for northern regions of Spain to the intense summer heat. Occupancy rates for vacation rentals in Asturias rose by 4.7 percentage points over the year, and in Cantabria by 4 points, as tourists are increasingly opting for cooler destinations. Among properties with air conditioning, 86.7% were booked for August, and among those with a pool, 85% were booked. The booking rate for rural homes in Spain’s inland regions was even higher, reaching 87.6%.
Data source: a study by Rentalia, a vacation rental platform on Idealista
The European Commission is developing a new legislative framework that will allow national, regional, and municipal authorities to restrict short-term housing rentals in areas facing particularly sharp price increases and a shortage of apartments for permanent residents.
The initiative will be part of the future European Affordable Housing Act, which the European Commission plans to present in 2026. The document is intended to help authorities identify areas under housing pressure based on publicly available statistical data and take measures commensurate with the scale of the problem.
This does not mean a blanket ban on Airbnb, Booking.com, or other services across the entire European Union. The European Commission intends to create a legal framework within which cities and regions can independently regulate short-term rentals without violating the rules of the single European market.
In particular, municipalities should be given greater legal certainty when imposing restrictions in areas where tourist rentals reduce the housing supply for local residents. Possible measures will be determined taking into account the local situation, the interests of the tourism sector, and the principle of proportionality.
During the consultations, representatives of cities and regions called on the European Commission to develop a list of tools compatible with EU legislation. They also emphasized the need to take into account the differences between major tourist centers, small towns, and rural areas.
The drafting of the Affordable Housing Act is proceeding in parallel with the implementation of previously approved EU rules on the collection of information regarding short-term rentals. EU Regulation No. 2024/1028 will take effect on May 20, 2026. It provides for the creation of digital registration systems for landlords and the exchange of data between platforms and government agencies.
In countries that implement such registration, property owners must obtain a unique property number and include it in their listings. Online platforms are required to display and verify these numbers, conduct random checks, and remove listings at the request of authorities if they do not comply with established rules.
Platforms must also submit monthly data on the number of guests and booked nights via a single national digital gateway. This will allow municipalities to assess the actual scale of short-term rentals and make data-driven decisions.
However, the current regulation primarily governs registration and the exchange of information. It does not, in and of itself, establish EU-wide limits on the number of apartments available for rent or the permitted number of nights.
According to the European Commission, short-term rentals already account for about a quarter of all tourist accommodation supply in the EU.
In 2025, 951.6 million guest nights were booked through Airbnb, Booking.com, Expedia, and other major online platforms. Compared to 2024, this figure increased by 11.4%.
The European Commission acknowledges that this market generates income for property owners, expands options for tourists, and supports local businesses. At the same time, the high concentration of short-term rentals in historic centers and popular resorts may reduce the supply of apartments for permanent residence and contribute to rising prices.
According to the European Affordable Housing Plan, the number of short-term rental bookings through the largest platforms increased by more than 90% between 2018 and 2024. Professional operators account for more than 45% of listings, even though they represent a minority of property owners.
Once the new legislation is adopted, the rules will depend not only on the country but also on the situation in a specific city or district. In tourist destinations with a housing shortage, local authorities will potentially be able to impose stricter requirements regarding registration, licensing, and rental duration. In regions where there is a shortage of tourist accommodations and short-term rentals support the local economy, restrictions may be significantly fewer.
Demand for short-term housing rentals in the EU through online platforms continued to grow in early 2026. From January through March, guests spent 144.3 million nights in short-term accommodations booked through Airbnb, Booking, or Expedia. This is 9.7% more than in the first quarter of 2025 and 16.6% higher than in the first quarter of 2024, Eurostat reported on July 2.
Malta showed the fastest growth—up 30.5% year-over-year. It was followed by Slovenia—up 24.7%, Slovakia—up 23.5%, and Cyprus—up 22.3%. Double-digit growth was also recorded in Finland, the Czech Republic, Ireland, Croatia, Greece, Germany, Italy, Sweden, Poland, Estonia, Latvia, and Lithuania.
Among the EU’s largest tourism markets, all seven of the most-visited countries also showed growth. Germany saw a 14.9% increase, Italy 14.7%, Poland 11.9%, France 8.1%, Spain 6.5%, Portugal 4.9%, and Austria 4%. This means that the market is growing not only in small countries with a low baseline but also in major tourism economies.
Eurostat clarifies that these figures specifically refer to guest nights in short-term accommodations booked through platforms, rather than hotels and campgrounds. For example, if a family of four stays in an apartment for three nights, this counts as 12 guest nights. The data is published as experimental statistics and is based on information that the platforms report directly to Eurostat.
Regional statistics are published with a delay. According to data for the fourth quarter of 2025, the most popular regions for short-term rentals through these platforms were Andalusia in Spain—9.9 million nights, the Canary Islands—8.2 million, and Île-de-France in France—7.2 million. Only regions from three countries—Spain, France, and Italy—made it into the top ten.
For investors, these statistics mean that focusing solely on overall market growth is no longer sufficient. It is necessary to take into account the specific country, city, seasonality, local restrictions on Airbnb and Booking, taxes, registration rules, and competition from hotels. In Europe, short-term rentals continue to grow, but are becoming an increasingly regulated and professional business.
The short-term tourist rental market in Spain is experiencing its largest decline in recent years: the number of listings on digital platforms in May 2026 fell by 10.7% year-over-year, according to the Spanish National Institute of Statistics (INE).
According to INE data, 40,836 thousand tourist accommodations were removed from the market over the course of the year. This marked the second-sharpest decline in supply in the agency’s history of compiling such statistics.
Despite the year-over-year decline, by the start of the peak summer season, the market had partially recovered compared to November 2025: supply increased by 3.4%, or 11,237 thousand units. In May, Spain had 341,001 thousand active tourist accommodations, which collectively provided 1.71 million beds. On average, each property had about five beds.
The decline in supply affected all of the country’s major tourist regions. The most significant decline was recorded in the Valencian Community, where the market lost nearly 12 thousand properties over the year, and the total number of active listings fell to 51,268 thousand. As a result, the region ceded second place in terms of supply to Catalonia.
Andalusia, despite a decrease of 5,527 thousand properties, retained its status as Spain’s largest vacation rental market, with 90,649 thousand apartments and villas. Catalonia lost 5,546 thousand properties but remained among the leaders with 51,3 thousand active listings.
The island markets also saw a decline. In the Canary Islands, the number of properties fell by 2,33 thousand to 48,356 thousand, while in the Balearic Islands, it dropped by 3,057 thousand to 21,304 thousand listings.
At the provincial level, the largest markets remain the tourist coastlines. Málaga leads with 45,176 thousand properties, followed by Alicante with 32,148 thousand and Las Palmas with 26,998 thousand.
When looking at individual municipalities, the largest concentration of tourist accommodations is in Madrid—10,836 thousand properties. Next are the city of Málaga—8,288 thousand, Barcelona—8,231 thousand, Marbella—6,987 thousand, and Seville—6,937 thousand properties.
Analysts attribute the decline in supply to stricter municipal regulations, license revocations, and growing political pressure on the short-term rental sector. In Spain, the conflict between the tourism industry, property owners, and local residents—who are facing a shortage of affordable long-term rentals and rising prices in major cities and resort areas—has been intensifying for several years.
For the real estate market, this signals a shift in phase. Tourist rentals remain a profitable segment, but they are becoming more heavily regulated and riskier for investors. Whereas high occupancy rates and tourist traffic were once the key factors, licenses, municipal restrictions, the legal status of the property, and the location’s resilience to potential bans are now increasingly important.
For real estate buyers in Spain, this is an important signal: a property that was previously viewed as a short-term rental vehicle may lose some of its investment appeal if local regulations change. This is especially true in overheated tourist areas, where authorities are most actively restricting short-term rentals.
At the same time, a reduction in the supply of tourist apartments could support the hotel and aparthotel market, as well as partially return some housing to the long-term rental market. However, this is unlikely to quickly solve the problem of housing affordability: demand for housing in major cities and tourist regions remains high, while new supply is limited.
