Holiday Rentals in Crete: How much does the accommodation cost for a family

The most sought after areas

In the market of short-term rentals in Crete, a total of 13.623 properties are registered, including apartments and detached houses. A huge increase of 306% has been recorded in the demand for short-term rental accommodation for 2022.

The pandemic was the ideal opportunity to “launch” the short-term lease in Crete, with the domestic market growing significantly within two years’ time. More specifically, during the period from the beginning of 2020 to the first quarter of 2022, the number of users who booked short-term rental accommodation doubled.

According to a research conducted by Airdna company, the data collected until March 1st 2022 for the period from June to September 2022, Greece records an increase in demand for holiday lettings by 232% compared to 2021. It is worth mentioning that Crete is emerging as a “champion” in rentals demand, recording an increase of 306%, for the corresponding period. The rise “reaches” the percentage of 302% in the Dodecanese, 248% in Athens, 233% in the Cyclades, 230% in the Ionian Islands, and 135% in the Peloponnese.

Greece holds the first position in Europe in terms of demand for short-term rental accommodation, surpassing Portugal in the second place with 196%, and Croatia that follows recording an increase in demand by 151%.

Holidaymakers who are interested in booking their vacations should keep in mind that the key factor determining the cost and the availability, thus being able to choose a home according to your needs and your budget, is the time of booking. The earlier we plan our summer holidays, the better price opportunities we can achieve.

Renting houses on short-term rental platforms, for 5 nights in Crete

The following data refer to the following 16 areas of Crete:

Heraklion, Mastabas, Therisos, Kokkini Hani, Gouves, Stalis, Ierapetra, Gazi, Hersonissos, Chania, Malia, Kalamaki, Agios Nikolaos, Loutro, Rethymno and Makris Gialos.

They are about apartments or detached houses (not villas), suitable for a family of four guests. The cost of accommodation is modified based on availability, and sometimes the house can even accommodate up to 6 people, depending on the policy of each owner-administrator.

A similar situation is observed in short-term leasing. In particular, 2/3 of the demand in our country is recorded mainly in the period of June to September. Especially when it comes to Crete, the demand is rising significantly from Easter Holidays onwards.

In the short-term rental market of Crete, a total of 13,623 properties are registered, including entire apartments or detached houses (not villas).

The distribution of real estate in the four Prefectures of Crete:

Prefecture of Chania: 5,525
Prefecture of Heraklion: 3,460
Prefecture of Rethymno: 2,751
Prefecture of Lassithi: 887

The key factor determining the cost of accommodation is the time of booking

Most of the available houses, especially in mainland Greece, are houses bigger than 50sqm – 60sqm, which are used as a “holiday home” for families. The cost of accommodation for a family of four in many cases does not exceed the total amount of 500 euros for five nights.

The earlier you plan your summer vacation, the better price opportunities you will achieve.