Landlords see delays in compensation

Landlords have suffered during the pandemic from the forced reduction of rents, with the compensation from the state taking longer than expected to reach their bank accounts.

Finance Minister Christos Staikouras stated that landlords would get their compensation for November before midnight on Monday, while the compensation for December's losses would be paid out by February 15.

Since March 2020, mandatory rental reductions of 40% have been in place for almost all commercial properties (stores, food service and bars) as well as for hotels, and a significant number of apartments, with numerous exceptions.

September and October aside, when the forced cuts were limited to tourism and cultural properties (such as cinemas and theaters), the last 10 to 11 months have inflicted huge losses on many property owners who rent out their assets.

Up until October the...

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