Οικονομοτεχνική μελέτη εκμετάλλευσης διαμερίσματος βραχυχρόνιας μίσθωσης μέσω της πλατφόρμας Airbnb
Feasibility study for the operation of a short-term rental apartment via the Airbnb platform
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Keywords
Feasibility study ; Short term rental ; Airbnb ; Market analysis ; Investment evaluation ; NPVAbstract
This thesis presents a feasibility study for the development and operation of a short-term rental apartment located in the district of Koukaki, Athens, through the Airbnb platform. The study analyzes the market environment, tourism trends, competitive positioning, and the unique characteristics of the area, which is one of the most dynamic short-term rental markets in Greece.
The investment plan includes a full renovation of the property, acquisition of necessary equipment, and the estimation of all operating expenses. A detailed financial analysis is conducted over a four-year horizon, incorporating key indicators such as Net Present Value (NPV), Internal Rate of Return (IRR), Return on Investment (ROI), and Payback Period. The results indicate strong financial viability, with a positive NPV, high IRR, and short payback period.
Additionally, a sensitivity analysis is performed under three alternative scenarios (optimistic, realistic, and pessimistic), evaluating the impact of changes in occupancy and revenues. The findings show that the investment remains profitable even under adverse conditions, demonstrating resilience to fluctuations in market demand.
Overall, the study concludes that the proposed Airbnb investment is financially sustainable, operationally feasible, and strategically positioned to benefit from the growing tourism activity in Athens.