The Autumn Shift: Greece, Italy’s New STR Regulations and Tax Reforms

The Greek government is actively considering new tax measures and time limits for short-term property leases, with decisions anticipated next autumn. A transitional adjustment period will follow to help stakeholders adapt to the new framework. Alexis Patelis, head of the economic office of the Prime Minister’s General Secretariat, discussed these forthcoming changes at the 1st International Conference of the TMEDE.

Focus on Taxation and Rental Duration

Patelis indicated that the changes will specifically target taxation and the maximum duration properties can be rented through platforms like Airbnb. These measures are expected to be introduced after the summer, ensuring a transition period similar to that provided during changes to the Golden Visa program.

Targeting Multiple Property Owners

Reports suggest that the new regulations will primarily focus on owners with multiple properties listed for short-term rentals, rather than those with just one or two. The Ministry of National Economy and Finance and the Independent Authority for Public Revenue (ADE) will conduct a review to ensure professional owners with more than two Airbnb properties are registered and meeting their tax obligations.

Considering Regional and Economic Impacts

The government plans to evaluate the impact of the tourist season and consider factors such as geographical differences, housing issues in specific regions, and the effect of short-term rentals on long-term rental availability. These insights will shape the final decisions.

Calls for Stricter Local Oversight

Some industry reports, particularly from the hotel sector, advocate for a legislative provision limiting Airbnb operations to 60 to 90 days per year. Additionally, municipalities have requested greater control over the number of licenses issued, but the government has thus far denied these appeals.

A Balanced Approach to Short-Term Rentals

The proposed measures aim to increase oversight on owners with multiple properties while protecting the income of families who rely on one or two rentals for supplemental income. This balanced approach seeks to address concerns about housing availability and support individual property owners.

Stay Updated on Greece’s Evolving Regulations

Stay informed to navigate the evolving landscape of vacation rental compliance and hosting effectively.