Athens has implemented new regulations aimed at preventing housing shortages for its residents. As of January 1, a law has gone into effect that limits short-term rentals in specific areas of the city. The law, passed in November, introduces a one-year moratorium on the registration of new apartments for short-term rental in over ten central districts, including popular areas like Kolonaki, Koukaki, Pangrati, and Exarchia.
Failure to comply with the new law can result in fines of up to 20,000 euros. The regulation also provides fiscal incentives for property owners who switch from short-term to long-term rentals.
According to data from the U.S.-based rental tracking site AirDNA, nearly 18,000 properties are listed on platforms such as Airbnb and Vrbo in Athens. The demand for these rentals peaks during the summer tourist season. For years, complaints have been mounting due to limited availability and rising property prices in many of the city’s sought-after neighborhoods.
These measures are seen as an effort to address the growing imbalance between the housing market for locals and the tourism-driven rental industry.
I simply had to say thanks yet again. I do not know what I might have tried without the type of opinions documented by you on such concern. It previously was the depressing case for me personally, however , noticing your expert strategy you managed that made me to cry over delight. I will be grateful for the help and in addition hope that you comprehend what an amazing job that you’re putting in teaching many others by way of a site. I am certain you have never come across all of us.
A person essentially lend a hand to make critically articles I’d state. That is the first time I frequented your web page and up to now? I surprised with the research you made to create this particular put up incredible. Great job!
Thank you, I have just been searching for information approximately this topic for a long time and yours is the best I have found out till now. But, what about the bottom line? Are you certain about the source?