Airbnb rules headed for overhaul

Greece to overhaul Airbnb rules

Greece's recently appointed conservative government will move ahead with a complete overhaul of rules applying to the short term property rental market.

On Thursday, Prime Minister Kyriakos Mitsotakis met with Tourism Minister Haris Theoharis, where they discussed the government's tourism policy.

After being elected earlier in July, the conservatives have decided to start work on a ten year plan aimed at launching the country's vital tourism industry forward.

In regards to homes offered for rent on Airbnb-type platforms, Theoharis said that some order needs to be restored to the industry without providing any more details. Among the key problems the government wants to solve is rampant tax evasion and the housing shortage caused by a large number of homes being exclusively offered to tourists for brief stays.

Like in many other European capitals, the number of homes in central Athens has exploded in recent years on the back of strong tourism numbers. Data from the Center of Planning and Economic Research (KEPE) shows that 126,00 homes were put up on Airbnb in the last year, showing a rise of 31 percent.

However, large supply levels are driving rental fees lower, prompting a number of owners to switch back to long term rentals.

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