This year Crete has once again confirmed its position as one of the strongest and most resilient markets for short-term rentals in the Mediterranean, according to information presented at the Short Stay Conference Crete 2025, which was held in Heraklion on 23rd of October. According to data from the platforms Lighthouse, Booking.com, Vrbo, Beyond and Hosthub, the island is showing strong development in the number of accommodation units, occupancy and prices, confirming that the market is maturing and becoming differentiated.
A sharp increase over five years
Crete now has 32,500 short-term rental units, an increase of 50% by comparison with 2020, when around 21,000 were recorded. The island represents 14 per cent of the total Greek offer, while it has the highest density of units among all the island destinations in the Mediterranean.
The average daily rate (ADR) for 2025 varied between €275 and €325, a higher level than the national average. In August it varied around €260, slightly lower than 2024 (€285). In contrast, prices of hotels on the island remain 17 percent lower than the national average, with the result that Airbnb units in Crete are 13% more expensive than the countrywide average.
Total occupancy during the summer of 2025 reached 65%, with Chania in the lead at 76% (+1%), followed by Rethymnon with 70% (+4%) and Heraklion with 67% (+4%). Booking.com recorded an increase of 16% in income, 8% in nightly stays and 6.9% in available accommodation units, while the average daily rate hardened by 7% during the period April to September 2025.
Visitor profiles
Vrbo presented information which showed that Crete is attracting high-spending travellers. The average prices per reservation varied between $2,576 and $4,664, with a duration of 6 to 10 nights – characteristic of family and luxury holidays. The basic countries of origin were the UK, Germany, France, the US, and the Scandinavian countries. Crete stands out as one of the most popular European destinations for longer stays which are not easily cancelled, while the demand for luxury villas leads to the maintenance of high prices.
First among competitors
Lighthouse confirmed that Crete has more accommodation units (33,000) even than Mallorca (21,000), Cyprus and Malta which each have less than 20,000. Despite the fact that the ADR showed a drop of 16% in 2025, the island has maintained its resilience, showing stronger price retention than Cyprus (-21%) and Malta (-15%) [sic].
(Haniotika Nea, 31/10/25) More information can also be found in the Conference report given on Bnbnews.gr.
Short-term rental data sources
https://www.mylighthouse.com
https://www.booking.com
https://www.vrbo.com
https://www.beyondpricing.com
https://www.hosthub.com