Luxury home rental industry set for high revenues this year | Business

Greece is set to spend another summer in the focus of the high-standard home rentals market, as this property category is experiencing ever growing demand at popular resorts in Greece and abroad.

Data from firms in the industry put the figure of holiday homes around Greece that have obtained the Greek National Tourism Organization stamp at over 10,000, with 80 percent of them having been added over the last three years.

The reason for that development is the major interest even in very luxurious properties in areas of high demand, such as the island of Myconos, where rental costs at peak season can reach up to 30,000 euros a week, rivaling international destinations like Cannes in the South of France.

On average, weekly rental rates on Myconos range around 10,000 euros throughout the summer season, meaning such an asset can earn its owner as much as 120,000 euros in just three…

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