Housing – TIF: Who is affected by the three-year tax exemption on rents

Thousands of property owners will have a double incentive to open and renovate some 700,000 properties after what Prime Minister Kyriakos Mitsotakis will announce at the TIF. The latest reports say that the three-year tax exemption for closed properties and those transferred from short-term leases has been locked in, while the state subsidy in the Renovate-Rent program will also be increased. The housing package to be announced by Kyriakos Mitsotakis also provides for intervention in Airbnb which, as first revealed by newmoney, provides a barrier to new permits in saturated areas. These are areas where it has been found that properties on short leases exceed 5% of the total stock of properties that can be made available for lease.

That is, in areas such as Koukaki and other places in the center of Athens, in the southern suburbs (especially in the coastal zone), in Thessaloniki, etc., a ratio, a “fraction”, will be created between short-term and long-term leases. If this “fraction” is reversed to the detriment of long-term leases, then a brake will be put on new permits, i.e. new AMAs for short-term leases. In fact, the fraction will be formed locally and very precisely, as the inventory that has been done on leased properties reaches the level of… postcode. That is, the temporary freeze on licenses will not be applied in total at the municipality level, but in sections within the municipality itself, depending on the data obtained each year from the review of the ratio. This is one of the two axes of the solution to the housing problem expected to be presented by Prime Minister Kyriakos Mitsotakis during his speech at the TIF.

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