Short-term rentals in Greece: new rules and implications for the market

New activity mode for short-term rental properties such as Airbnb will be included in the bill that Tourism Minister Olga Kefaloianni will present for public discussion from the beginning of next week.

The new law will be much stricter since it installs performance requirementssimilar to the requirements for hotels. The most important element of the bill is that for the first time homes will be checked for compliance with established requirements by the Ministry of Tourism, and fines will be imposed.

Airbnb common areas are illegal

According to information, the changes in the new law concern only dwellingsrather than common areas in apartment buildings. Moreover, only living quarters can be used as short-term rental objects.

We remind you that the main elements of the bill were presented for the first time at the meeting government council October 31 by the Minister Olga Kefaloianniand these days the discussion with the relevant ministries was completed. It is expected to be published and submitted to the public next week. public discussion.

Regulations proposed by Kefaloianni

According to what was presented at the government meeting, objects like Airbnb must:

• have insurance from civil liability for damage or accidents;
• have responsible statement electrical, fire extinguishers and smoke detectors, trip or shock relays and exit signs;
• have certificate a pest control kit and a first aid kit with essentials, as well as a manual with emergency numbers;
• be residential premises with natural light, ventilation and air conditioning.

Numerous off-market properties

A first look at the new rules is expected from the minister during 12th General Assembly Greek Hotel Association, which will take place on Saturday, November 23rd, at the Exhibition Center Metropolitan Expo in the area Athens International Airport.

The Ministry of Tourism bill is expected to remove a significant number of properties that were included in short-term rentals from the market, as adapting them to the new requirements will be either expensive or impossible.

The new bill ends establishment of legal framework for the operation of short-term rental objects and healthier competition with hotels is established.

Many residential premises will be requiredaccording to competent sources, switch to long-term rentalwhich will reduce the pressure on the housing crisis, especially in large urban centers, which is one of the goals of general government policy.

As competent persons note, after intervention in the tax system, the new bill completes the legal framework for the operation of short-term rental properties and establishes healthier competition with hotels.

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