The government is preparing measures: a three-month limit on rentals through Airbnb.

In order to return properties to long-term rental, the Greek government plans to introduce a series of measures. Given that the number of bookings through Airbnb significantly exceeds hotel reservations, and Greece ranks fourth in the list of the most expensive countries in the world, such initiatives are becoming particularly relevant. Specifically, this involves the introduction of fines and the creation of favorable conditions for small islands and individuals with an income of up to 12,000 euros.

Consequences of a lack of control over short-term rentals

To alleviate the housing crisis in Athens and other major cities, the government aims to eliminate distortions caused by the sharp increase in short-term rentals. To prevent a situation similar to the housing crises in other major European metropolises, it is proposed to consider measures that limit the number of days a property can be rented out on a short-term basis. This is expected to increase the availability of housing for long-term rentals and help reduce rental prices.

The position of the Prime Minister

Greek Prime Minister Kyriakos Mitsotakis emphasized that the new measures are aimed at those who have turned renting out apartments on Airbnb into a business, rather than at other property owners who are simply supplementing their income.“Let’s see how we can logically limit short-term rentals in Athens to free up more properties for long-term rentals.

Previous events and current research

The government has already implemented a number of measures as part of the Airbnb program and the "Golden Visa," and is considering further steps taking into account the opinions of market participants and the opposition.“We are studying the Airbnb market to understand how much we can limit short-term rental rates in Athens and free up housing for long-term tenants.”- Mitsotakis reported.

Upcoming measures

It is expected that final decisions will be made in September, after analyzing the data from the summer tourist season. Most likely, the priority will be to limit the number of days during which properties can be rented out for short-term stays.

Opinions of the Minister of Finance

In March of this year, Finance Minister Kostis Hatzidakis hinted at necessary measures during one of the conferences. He emphasized the impact of tourism and Airbnb on property prices, stating:“We are monitoring the situation. We will see how the new law works this summer and discuss it again in September.”

Possible limitations

The government is considering the possibility of introducing a limit on short-term rentals at 90 days per calendar year, especially in large cities like Athens. For small islands with a population of less than 10,000 people, this limit may be reduced to 60 days per year, with different rental limits potentially set for various zones.

Conclusion

The government's goal is clear: to restore balance in the housing market by regulating short-term rentals and ensuring more properties are available for long-term rental.It is expected that this approach will help address the current housing issues and create fairer conditions for all participants in the process.