Post pandemic property prices

To stay in a hotel or apartment post pandemic this summer will be 35% more expensive than it was prior to the pandemic.

Meanwhile campsites, hotels and cottages, the increased rates of which are much more moderate, have already achieved more business so far this year than they did in 2019.

Specifically, at the end of May (the last month for which there is data), hotel prices were 39.12% higher than they were in May 2019, while tourist apartments were 36.5% higher, according to the National Institute of Statistics.(NIS)

By contrast, campsites have only raised their prices in three years by 3.7% and rural tourist accommodation has gone up by 8.7%.   

Hotels have become 22.1% more expensive compares to last year and tourist apartment prices have gone up by 13.5%.

In May 2021, overnight stays in tourist accommodations that weren’t hotels multiplied by 2.6 on average compared with figures collected prior to the pandemic, proving that people are more likely to find an alternative form of holiday accommodation.

Thank you for taking the time to read this article, do remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories and remember, you can also follow us on Facebook and Instagram.