Athens Rentals Project

Athens is one of the busiest tourism hotspots in Europe, especially in summer. This brings great opportunity for estate investors but also poses challenges when it comes to choosing location and pricing strategy. This analysis of existing Airbnb listings in Athens aims to provide an insight into the rental landscape and helps inform decision making.

Business Questions

  • Where to invest?
  • Which price range is profitable but remains competitive?
  • Which strategy to have a successful rental in Athens?

Methods

The dataset covers about 10.000 Airbnb listings in Athens up to 2021. For preliminary analysis, descriptive statistics and simple charts are generated in Tableau Public to give an overview of the rental market. Also, investors are interested in small to medium budget rentals so all rentals over 200 euros are excluded for this purpose.


Key findings

  • 1
    Location

    ΕΜΠΟΡΙΚΟ ΤΡΙΓΩΝΟ-ΠΛΑΚΑ is the most crowded neighborhood of Airbnb rentals. The next in the top 3 are ΚΟΥΚΑΚΙ-ΜΑΚΡΥΓΙΑΝΝΗ and ΝΕΟΣ ΚΟΣΜΟΣ, also near historical landmarks but less than half crowded and up to 30% cheaper in average rent compared to ΕΜΠΟΡΙΚΟ ΤΡΙΓΩΝΟ-ΠΛΑΚΑ.

  • 2
    Price Range

    Average rent per night is €61 while 50% of listings offer rental of no more than €50.

  • 3
    Success Factors

    To find patterns in the most chosen rentals in Athens, a list of 100 rentals is extracted based on the most number of reviews from customers. Results show their rental offerings (price, min nights…) are all favorable to their counterparts.

Recommendations

  • Investors should avoid overcrowded areas and look into new attractive areas like ΝΕΟΣ ΚΟΣΜΟΣ.
  • Pricing strategy and other rental conditions like availability and minimum stay should be benchmarked against top market performers.
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