New home sharing tax set to see owners revert to longer tenancies

The taxation of the peer-to-peer property rental market and the intensification of inspections by tax authorities from early 2018 are expected to discourage some property owners who use online platforms to lease their assets on a short-term basis to boost their income.

Property market professionals say that the popularity of such lettings has increased considerably over the last couple of years, offering Greeks the opportunity to avoid paying taxes without violating the law.

The financial incentive has been very strong too: Apartments in high-demand areas of Athens such as Koukaki, Gazi, Thiseio, Acropolis and Plaka can attract a high number of visitors, sending revenues soaring for owners. In those areas a conventional rental contract fetches between 200 and 450 euros per month, depending on the size and features of each flat. The same property could fetch an average...