The Greek government has passed new legislation aimed at drastically reducing the number of tourist accommodations managed by platforms such as Airbnb, in response to an escalating housing crisis. This measure, which includes stricter restrictions and heavier fines, has sparked an intense debate on the impact of short-term rentals on the housing market and the tourism sector in the country.
The new legislation in detail
The new regulations prohibit companies and legal entities from managing more than two properties on short-term rental platforms such as Airbnb or Booking.com. Furthermore, stricter requirements have been set for the registration and operation of these accommodations, including:
- Mandatory registration in the national tourist accommodation registry.
- Fines of up to €50,000 for those operating without a license or violating the regulations.
- Specific restrictions in urban areas where the housing shortage is most pressing.
These measures are aimed at easing the pressure on the real estate market in areas where the availability of housing for residents has been affected.
Housing in Greece: A complex context
In recent years, Greece has been facing a growing housing crisis, particularly in cities like Athens. The main causes include:
- Rising prices: In some areas, rents have increased by 30% due to tourist demand and a lack of housing supply.
- Shift in residential use: Many properties have transitioned from permanent residences to short-term rentals.
- Socioeconomic factors: Economic recovery and the return of tourism after the pandemic have intensified competition for habitable spaces (source).
Impact on the short-term rental sector
These restrictions will significantly impact property managers in Greece, who will need to adapt their operations to the new regulations. Estimates suggest that thousands of tourist rentals could shut down in the coming months, potentially altering the tourism landscape in the country. However, these measures are also aimed at balancing the needs of local residents with the opportunities offered by the tourism sector (source).
The situation in Greece mirrors a common challenge in many European cities: how to regulate short-term rentals to prevent gentrification and ensure access to housing. Countries like Spain, Italy, and France are considering similar measures, underscoring the importance of finding balanced solutions that benefit both residents and property managers.
The role of Roomonitor in this new context
At Roomonitor, we understand the importance of managing properties sustainably and in compliance with local regulations. Our noise monitoring and 24/7 guest services solutions are essential tools to ensure neighborhood harmony and optimize property management in an increasingly regulated environment.
If you manage properties in Greece or other markets affected by similar regulations, get in touch to discover how we can help you adapt to this new landscape.