Short-term rental limits in popular Athens areas take effect

ATHENS

Limits to short-term rentals in Athens areas took effect on Wednesday as authorities seek to alleviate a housing shortage for permanent residents.

A law approved in November sets a one-year ban on registering new apartments for short-term rentals in over a dozen central Athens districts, including sought-after areas such as Kolonaki, Koukaki, Pangrati and Exarchia.

Homeowners had until Dec. 31, 2024, to declare new properties in those areas. Flouting the restriction triggers a fine of at least 20,000 euros ($20,800).

The law also offers tax breaks to property owners who switch from short-term to long-term rentals.

According to US-based rental trackers AirDNA, there are nearly 18,000 flats dedicated to Airbnb and Vrbo rentals in the Greek capital.

Demand peaks during Greece's busy summer tourism season – but complaints have been mounting for years over low availability and rising property prices in many working-class Athens districts.