From April 1, 2026, Greece requires all rent payments via bank transfer to the landlord’s registered AADE account. Discover rules, penalties for non-compliance, tax deductions lost, housing subsidies affected, and tips for landlords & tenants to comply.
Property
Today we speak with Aristotle (Arian) Galanis, co-founder of Metis Group, a fast-rising Australian development…
Rapid expansion of the five-star White Coast hotel on Mytakas beach in Milos continues despite municipal rejection of its environmental impact study and calls for a suspension, raising alarms over irreversible damage in a protected grassland/forest and wildlife refuge area.
Discover the 2026 Airbnb restrictions in Greece: frozen new licenses in central Athens (1st-3rd districts) and Thessaloniki’s 1st Municipal Community starting March 2026. Non-transferable AMAs, stricter inspections, and penalties aim to ease the housing crisis.
Greece extends Airbnb crackdown in 2026: New bans on short-term rental permits hit Thessaloniki, Santorini, Chania, Paros, and Halkidiki amid rising rents and housing shortages. Full details on rules, taxes, and impacts for owners.
The Nicosia Permanent Assize Court hears the trial of German real estate agent Eva Isabella Künzel, accused of usurping and promoting Greek Cypriot properties in Turkish-occupied northern Cyprus. Prosecutors argue criminal intent amid the island’s ongoing division, while defense claims political motives and lack of awareness. Künzel remains in custody as proceedings continue.
The iconic family mansion in Ekali where Stefanos Kasselakis grew up – a stunning three-storey ancestral “jewel” – is now available for rent at €10,000–€20,000 per month after a full renovation by shipowner Haris Vafeias. Discover details on this ultra-luxury 1,600 sqm villa in Athens’ elite northern suburbs
Lendlease, Mirvac and Coombes Property Group have been appointed to deliver Sydney’s Hunter Street Metro precinct, including two commercial towers above the future Metro West interchange in the CBD.
Greece has extended the ban on registering new short-term rental properties in Athens’ central districts until December 31, 2026, aiming to ease housing shortages driven by tourism. Strict penalties, including fines up to €40,000, apply for violations.
Greece is rapidly emerging as a promising market for branded residences, with global hotel brands investing in luxury residential projects across key destinations.
The European Investment Bank (EIB) has approved €490 million in financing for the IPTO North East Aegean Interconnection project, which will connect the islands of Lemnos, Lesvos, Chios, Samos, and Skyros to Greece’s mainland grid, ending their electrical isolation and replacing diesel power with cleaner, more reliable electricity.
“Gen Z Adelaide property investor Zach Hristodoulopoulos built a $5M portfolio before 30 by buying land-rich ‘ugly ducklings’ and subdividing. Now running HRISTO, he’s proving young Aussies can still win big in property.
Around 200 small, family-owned hotels and guesthouses (10-30 rooms) are currently for sale in Greece’s popular mountain destinations like Arachova, Kalavryta, Karpenisi, and Arcadia. Rising costs and seasonality are forcing owners to sell, while strong buyer interest comes mainly from the Greek diaspora, drawn by emotional ties and confidence in the growing potential of year-round mountain tourism.
By Greek City Times Staff December 26, 2025 Foreign direct investment (FDI) in Greece’s real…
Commercial real estate in Greece continued its upward trend in the first half of 2025, with both office and retail spaces seeing increases in sale prices and rental rates. According to Bank of Greece data, premium office prices rose 0.5% nationally, while retail spaces grew 1.1%. Ermou Street strengthened its global ranking, reaching 15th place with a 7% rental increase.
Greece is offering up to €10,000 in financial aid to encourage permanent relocation to depopulated areas in the Evros region, specifically the municipalities of Soufli, Orestiada, and Didymoteicho. The program, active as of 2025, supports single-person and multi-person households with grants paid in two installments to combat demographic decline in this border area.
A 25-27-year-old migrant worker died after falling from the second floor at the Hellinikon construction site on December 6, 2025, prompting unions to declare a 48-hour strike over safety concerns and intense working conditions.
Winter Sports World, a AU$700 million project planned for Penrith, has signed a memorandum of understanding with BonSki Group in Guangzhou as part of an NSW government trade delegation.
For the first time ever, Greece has been named the world’s best place to retire in 2026 by International Living’s Annual Global Retirement Index, topping longtime favorites Portugal and Spain thanks to affordable healthcare, low-cost seaside housing, perfect weather, and one of Europe’s easiest residency programs.
Mykonos (€10,800/m²) and the Athenian Riviera (€10,500/m²) have stormed into the Mediterranean Top 10 most expensive luxury markets, now rivaling Ibiza and prime Dubai waterfront, while 67% of buyers are international and most Greeks are priced out forever.
Ermou Street in central Athens has risen to 15th place among the world’s most expensive shopping streets, with rents reaching €310/sq.m. per month following a 7% increase, according to Cushman & Wakefield’s latest report.
From January 1, 2026, all rent payments in Greece must be made via registered bank accounts. Cash payments will no longer be valid, and a new tax scale with a 25% middle bracket will increase taxes for many landlords.
Cyprus’ property market is increasingly embracing cryptocurrency, with newly built properties in Limassol now displaying “bitcoin acceptable” signs. Lawyers report a rise in crypto-based deals, supported by EU-compliant smart contracts that ensure legal and secure transactions.
The “Spiti Mou 2” program extends its application deadline with higher income limits, while the new “Anakenizo” initiative provides government and EU-funded subsidies for home renovations and energy efficiency upgrades, supporting families across Greece.
The Makris Group has unveiled a landmark $500 million redevelopment of the Gold Coast’s Marina Mirage, transforming the iconic precinct into Australia’s own Riviera. The project blends superyacht marina culture, luxury residences, world-class hospitality and Mediterranean-inspired design, reflecting the Makris family’s Greek heritage. Completion is expected in 2029.
Tennis legend Novak Djokovic has secured Greece’s golden visa through a major property investment, highlighting the program’s global appeal. The 24-time Grand Slam champion cited cultural ties and quality of life—while likely benefiting from Greece’s €100,000 flat tax regime for high earners.
The Greek government has launched new social rent and housing initiatives to address the country’s deepening housing crisis. The plan mobilises unused public land and military sites to create up to 1,700 affordable housing units while introducing public-private partnerships to expand access for middle-income households.
New applications for Greece’s Golden Visa plunged 49.7% in September after investment thresholds doubled to €800,000 in major areas, signaling a cooling of the once-booming program.
Luxury home prices in Greece have doubled in five years, driven by strong demand in Mykonos, Santorini, and the Ionian and Dodecanese islands, with properties fetching up to €20,000 per square meter. Foreign buyers from the US and Asia are fueling this booming market.
A Cyprus court sentenced Israeli businessman Shimon Mistriel Aykout to five years for illegally developing Greek Cypriot-owned land in northern Cyprus, highlighting the contentious property rights dispute stemming from the island’s 1974 division.
