Europe’s hospitality landscape is undergoing a seismic shift, with managed residences redefining urban travel and living. From flexible leases to investor-friendly returns, here’s your guide to this booming sector. Key gateway cities such as London, Paris and Berlin are leading this charge, with London forecast to see its managed property stock increase by 21% by 2028, cementing its position as Europe’s largest market for extended-stay suites.
Key Takeaways
15–20% annual demand surge for urban managed residences in cities like Berlin and Lisbon.
Save 30%+ with long-term hospitality units vs. short-term stays.
Athens’ luxury extended-stay suites (e.g., DKG Development) average €4,000+/month, with offseason deals.
Eco-smart designs & community hubs redefine urban living, tackling housing shortages.
Long-Term vs. Short-Term Hospitality Units: Which Fits You?
Short‑term suites typically cater to travellers seeking nightly stays in fully furnished flats with hotel‑style amenities—think daily housekeeping, concierge service and flexible check‑in/out options. Conversely, long‑term executive apartments often feature discounted monthly rates, in‑suite laundry facilities and dedicated workspaces, appealing to corporate relocations, expatriates and digital nomads seeking home‑like environments
The Rise of Managed Residences in Major European Cities
Post-pandemic, cities like Berlin, Paris, and Lisbon have seen a 15–20% annual surge in demand for flexible lodging solutions. Urban professionals, digital nomads, and hybrid workers are ditching traditional hotels for hospitality units that blend workspace efficiency with residential comfort.
Key drivers include:
Urbanisation: 78% of Europe’s population now lives in cities, fueling demand for centrally located stays (Savills 2023).
Cost Efficiency: Managed residences offer 30%+ savings over hotels for stays longer than a week.
Tech Integration: Smart-home features and app-based services attract millennials and Gen Z.
Cities like Dublin and Athens are repurposing office buildings into luxury managed suites, while Barcelona leverages tourism growth to expand its inventory.
Rent a Managed Residence in Athens: Availability and Prices
Athens’ hospitality unit market thrives in areas like Kolonaki, Glyfada, and near Piraeus Port. Prices vary by season and location:
Budget: €1,200–€1,800/month (suburban studios)
Mid-Range: €2,500–€3,500/month (central 1-bed units with gym access)
Luxury: €4,000+/month (Acropolis-view penthouses with private terraces)
Peak summer rates spike 25%, but off season discounts apply. Brands like DKG Development dominate high-end offerings, blending Greek aesthetics with smart tech.
Top 10 serviced apartment chains in Europe
The Ascott Limited – Operates nearly 8,000 units across Europe under Citadines, Somerset and lyf brands.
Staycity – Plans to triple its apart-hotel portfolio to 18,000 rooms by 2032, operating under Staycity and Wilde brands.
SACO – Provides access to over 3,000 apart-hotels across the UK and Europe through SACO, Cove and Locke brands.
Adagio (Accor Group) – A leading extended‑stay brand in Europe, ranking among the top five operators in the development pipeline.
limehome – Fast‑growing developer specialising in smartly furnished accommodations, prominent in Europe’s new supply pipeline.
Marriott Executive Apartments – Marriott’s branded residential suites, featuring prime city‑centre locations and loyalty‑programme integration.
NUMA – Europe’s leading tech‑driven apart-hotel operator with over 7,300 units, following its acquisition of Native Places.
Cityden – Dutch operator with nearly 400 flats in four Amsterdam locations, representing strong regional growth.
Quest Apartment Hotels – Partnered with Ascott, this ANZ‑based chain brings corporate‑style suites and long‑stay residences to Europe.
DKG Development – A rising Greek developer offering homelike investment flats in Athens, with studio units priced at €110,000 each in its Laurel project.
How Hospitality Units Are Reshaping Urban Living
Serviced residences are reshaping city living by offering a hybrid of private living spaces and hotel conveniences, fostering neighbourhood integration and community engagement for both short‑stay guests and long‑term residents.
Space Optimization: Compact, multi-functional designs replace rigid layouts.
Community Focus: Shared lounges and networking events foster connections.
Sustainability: LEED-certified buildings and waste-reduction programs align with EU green goals.
Investor Appeal: High yields (5–8%) lure real estate funds to managed residence projects.
In cities like Lisbon, these units account for 12% of new housing developments, easing rental shortages while catering to transient populations.
How DKG Development is Reshaping Piraeus’ Urban Landscape
Piraeus Gate reimagines the historic Piraeus Textile complex and surrounding industrial sites into a dynamic urban hub. The project includes 462 family homes and 268 serviced apartments tailored for students, professionals, and travellers, alongside offices, retail spaces, cafes, and community areas.
Key features:
Adaptable Architecture: Multi-functional buildings designed for flexibility, ensuring long-term relevance to evolving urban needs .
Green Integration: Rooftop gardens, shaded terraces, and ground-floor green spaces improve air quality and create communal relaxation zones .
Smart Infrastructure: Energy-efficient systems, wastewater recycling, and eco-friendly materials align with EU carbon neutrality goals .
Piraeus Gate exemplifies how urban renewal can balance heritage preservation, sustainability, and economic vitality. By fostering a “live-work-dream” ecosystem, DKG Development is not only redefining Piraeus’ skyline but also setting a benchmark for future projects across Europe.
Conclusion
From budget-friendly extended-stay suites in Warsaw to DKG Development’s luxury Athenian penthouses, Europe’s hospitality unit sector bridges the gap between temporary stays and permanent living. As urbanisation accelerates, these spaces aren’t just changing where we stay—they’re redefining how we live.
Sources:
Savills (2024). Spotlight European Hospitality - Q1 2024.
Retrieved from: https://pdf.euro.savills.co.uk/european/spotlight-european-hospitality---q1-2024.pdfSavills Greece (2023). Greek Property Market: Investment Opportunities in Hospitality.
Retrieved from: https://www.savills.gr/research_articles/262959/301061-0Savills (2023). European Hospitality Trends Report 2023.
Retrieved from: https://www.savills.com/research_articles/255800/365458-0DKG Development (n.d.). Piraeus Gate: Urban Regeneration in Piraeus.
Retrieved from: https://piraeusgate.com/Forbes Greece. (2024, April 11). Επένδυση 200 εκατ. ευρώ στην είσοδο της πόλης του Πειραιά από την DKG Development. https://www.forbesgreece.gr/forbes-elliniki-ekdosi/3889325/ependusi-200-ekat-euro-stin-eisodo-tis-polis-tou-peiraia-apo-tin-dkg-development