Renting

The urgent need to address the acute problem of homelessness is driving the government’s decisions from September onwards. The primary goal is to free up homes from Airbnb and incentivize long-term rentals to help young couples struggling to find accommodation.

The government is considering a series of measures in order to increase the supply of properties for long-term rental, including higher taxes and interventions to contain short-term rentals and the number of vacant houses.

With property sales prices up 60% in the past six years and rents skyrocketing, auctions seem to be the only way for a household to avoid the complications of the housing crisis.

The number of short-term rental accommodation units has grown in most areas of Attica, as the arrival of summer has brought new properties to digital platforms, despite the government measures taken at end-2023

The government's decision to expand interventions in the short-term rental market, especially in Athens, seems definitive, following the new statements Prime Minister Kyriakos Mitsotakis made on Wednesday.

Prime Minister Kyriakos Mitsotakis has indicated potential measures to tighten regulations on short-term rentals, including considering a cap on rental days.

The government and the realty market are pinning significant hopes on the success of the "Renovate-Rent" program ("Anakainizo-Enoikiazo" in Greek), in order to increase the supply of available apartments for long-term renting. 

Bulgarians possess properties in 59 nations worldwide, with real estate holdings spanning every continent except Antarctica. These holdings include residences on exotic Caribbean islands like Aruba, the Netherlands Antilles, and the British Virgin Islands.

The tax authorities are increasing the burden on owners choosing to rent out their property short-term.

Changes in the tax framework for the short-term rental market have not deterred property owners, as the number of units in the center of Athens is constantly rising.

According to AirDNA, 18.5% more properties operated as short-term rental accommodation in the center of Athens in the year's first quarter, reaching 12,762, even though these months show the lowest demand.