The lack of housing for permanent residents in popular neighborhoods is caused by short-term rentals for tourists.
Restrictions on short-term rentals have begun to apply in Athens, with which the authorities are trying to ease the housing shortage for permanent residents. TASR informs about it according to the AFP agency.
The law approved in November imposes a one-year ban on the registration of new short-term rental apartments in more than ten of the most sought-after neighborhoods in central Athens, including Kolonaki, Koukaki, Pangrati and Exarchia.
Property owners had until December 31 to register apartments intended for short-term rent, and for violating the restriction they face a fine of 20,000 euros. The law also offers tax breaks to property owners who switch from short-term to long-term rentals.
According to data from the American company AirDNA, which monitors rentals, there are almost 18,000 apartments in the Greek capital intended for short-term rental through Airbnb and Vrbo. Demand peaks during the busy summer tourist season in Greece, while in the long term the availability of rental housing for domestics and rising real estate prices in many neighborhoods of Athens also reduces.
