19Jan2017
Written by Athanasios Rozou. Posted in Articles
Deprived of tax revenue from disallowance of short-term property leases, Greek law now enables citizens to lease vacant properties on a short-term basis provided certain conditions are met.
The building boom of recent decades combined with migration and de-urbanization resulted in an increase of vacant apartments in cities and the oversupply of rental properties for lease at low rates. Difficulty in leasing plus overtaxation of real estate forced private owners to either sell or switch to new forms of exploitation, including short-term rental of properties to tourists via the internet. With the use of digital platforms, the most famous of which being Airbnb, hundreds of individuals in Greece are able to lease apartment rooms to luxurious villas to tourists for limited periods of time.
Read more about Tourist Accommodation in Greece