Athens to ban new short-term lets
Source: TheMayor.EU RSS
Athens to ban new short-term lets
The measure, which will come into force from 1 January 2025, will be partial and temporary…for now
As the summer season draws to a close, and popular European destinations are tallying up the results from yet another busy tourist season, many are coming to the realization that a breaking point in terms of impact might have been reached. In that regard, only a day after Budapest residents voted to ban short-term rentals in one of the central districts, similar news comes from the Greek capital, Athens.
The Greek government has made the decision to ban the issuing of new short-term rental licences in the first, second and third municipal districts in downtown Athens, effective 1 January 2025. The restriction, however, will be temporary on a twelve-month basis. After that, the effects on the local housing situation will be studied before deciding whether to extend it or not.
Plus, an increase in the tax burden on the sector
Reportedly, the initial plan of the authorities was to limit the number of days (to 90) that property owners could accept tourists. This plan, however, was scrapped as insufficiently impactful. The new strategy targets districts where short-term lets comprise more than 5 per cent of the total housing stock.
The authorities are also reaching into the fiscal toolbox to incentivize landlords to show more solidarity with locals unable to access affordable housing.
According to Reuters, a daily tax on short-term rentals which helps the country deal with the impact of natural disasters related to climate change will be increased from 1.5 euros to 8 euros for the April-to-October period, Finance Minister Kostis Hatzidakis said. During the low-season winter period, the tax will increase from 0.5 to 2 euros.
2024 is shaping up to be a record year in terms of revenue from tourism for Greece with estimates showing that the total amount could reach 22 billion euros.
The original article: TheMayor.EU RSS .
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