Gov't announces fresh cut to commercial rent

More than 200,000 enterprises will pay just 20% of their pre-crisis rent in January and February 2021. According to what Prime Minister Kyriakos Mitsotakis told Parliament on Tuesday, the measure will concern enterprises forced to stay shut during the festive season.

The new measure will therefore affect the sectors of food service, bars and clubs, retail stores, gyms and even enterprises operating as of this week using the click-and-collect system. Those companies will be able to pay even less in rent than what they are paying in December, which is reduced by 40%.

For example, a company that normally pays a monthly rent of 1,500 euros will enjoy a discount of €1,200 in January and February, paying its landlord only €300; for December, it has to pay €900.

The landlords will also get more in compensation from the state for their reduced revenues, getting back 60...

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