Hellenic Property Federation

The government is reviewing the provision for a three-year income tax exemption for vacant properties and those withdrawn from short-term rentals. Concerns have been raised during the public consultation phase that the current requirements are too stringent and may reduce the measure’s effectiveness.

In recent years, tax revenues from short-term rentals in Greece have surged dramatically. Tax earnings from Airbnb-style rentals have increased more than tenfold since 2017, according to Giorgos Pitilís, head of the Independent Authority for Public Revenue (AADE).

The government, not local municipalities, will decide whether to freeze or allow new short-term rental permits like Airbnb. This policy starts with three main districts of Athens (1st, 2nd, and 3rd), where new Property Registration Numbers (AMAs) will not be issued for at least one year.

Just 5.3 percent of the total stock of apartments for rent in Attica are currently bound for short-term leasing, numbering below 12,000 across the capital, according to data presented on Thursday by the Sharing Economy Association (SODIA).