Greece | The Future of Short – Term Rentals in Question

 

The Authorities of Greece are seriously facing backlash from the Association of Short – Term Accommodation Managers of the Hellenic country over a proposed provision in the Ministry of Tourism's draft law, which threatens to disrupt this market and the future of short - term rentals is in question.

A new provision excludes properties that changed use after 2011 from the possibility of short – term rentals and the Association has expressed its firm opposition in this measure, warning of serious economic, social and urban consequences if it is enacted.

The provision mandates that properties rented for short - term use must be designated as primary residential spaces under Greek law, or their change of use must have been legalised before 28th July 2011, allowing for the exclusion of properties that were converted after this date, including many office buildings and industrial spaces in urban centres that were repurposed for short - term rentals.

For the Rental Employers' Association this measure is considered discriminatory and inpractical, as it punishes owners and investors who acted within the legal framework to revitalise unused spaces.

The Association argues that the provision violates Article 5 of the Greek Constitution, which guarantee economic and professional freedom.

By retroactively restricting the use of properties, the legislation undermines investments that were legal under the legal framework.

The economic consequences of the measure are also of great concern, so the Association considers that millions of euros have been invested in the improvement of properties for short - term rentals and, if these properties are disqualified, their value will plummet, leading to significant economic losses for their owners.

Link - https://www.expreso.info/noticias/internacional/104276_el_futuro_de_los_alquileres_corto_plazo_en_grecia_en_tela_de_juicio