Short-term property rental market saturated

The number of properties up for short-term lease in Greece has soared from just 130 in 2010 to over 200,000 by the end of 2019, according to a survey by the Center of Planning and Economic Research. Despite the huge changes this surge has brought to the property market, however, the regulatory framework has resisted change and adjustment to reality.

Greece is one of just a few countries in Europe that have not introduced any restrictions to short-term property rentals - or effectively enforced those that already exist. There is no doubt that short-term rentals, led by US online platform Airbnb, have provided a solution for landlords struggling to pay taxes for properties they were unable to find any tenants or buyers for. However, the absence of tax regulations and rules does not just make life difficult for ordinary people trying to find a house to rent or buy, but also...