France, Greece, and Portugal are considering following Spain's lead by implementing a 100% housing tax on British expats. Spain's initiative, announced by Prime Minister Pedro Sánchez, aims to prioritize affordable housing for locals. This development could impact British communities living in these countries, as reports suggest similar measures might be introduced to address rising housing costs and availability issues.
Tag: Housing Crisis
The boom of Airbnb in Athens has transformed the city's central neighborhoods into thriving tourist hotspots, driving up rent prices and displacing local residents. While tourism fuels economic growth, it also creates challenges for the city's infrastructure and social fabric, prompting debates over sustainable management and regulation.
Starting January 1, Greece will halt issuing Airbnb licenses in several districts of downtown Athens as part of new measures to address the housing crisis and increase property tax revenue. A revised tax and rental framework has been introduced, distinguishing between short-term and long-term rentals, with specific requirements for registration, tax obligations, and the offering of additional services. The changes aim to balance the needs of tourism with the shortage of affordable housing for Greek citizens.
Greece has extended the deadline for Golden Visa property purchases to February 2025, giving investors more time to complete contracts under the previous investment thresholds. This move offers flexibility amidst recent program changes aimed at addressing the country's housing crisis.
An OECD report highlights a staggering 69% rise in Greek housing prices since 2017, worsening the affordability crisis for local families. With nearly 27% of households spending over 40% of their income on housing—compared to a eurozone average of 9.4%—Greece faces the highest housing cost burden in the EU. The report also examines the impact of foreign buyers, rising mortgage risks, and government measures like the golden visa reforms and renovation subsidies.
Greece is tackling its island housing crisis with a new plan to house public sector workers in hotel staff accommodation. This initiative aims to alleviate the pressure of high seasonal rents in popular tourist destinations, ensuring essential services remain adequately staffed year-round.
Greek singer Stelios Dionyssiou faces foreclosure on his home despite previous claims that the situation was under control. A scheduled auction date looms as recent reports contradict his assurances of a resolution.
Greece is bracing for a nationwide 24-hour strike today, November 20, as unions protest against stagnant wages, rising living costs, and weakened labor rights. The strike, organized by GSEE and ADEDY, will disrupt public transport, healthcare services, and education, with major rallies planned in Athens. Key demands include wage increases, affordable housing initiatives, and the restoration of collective labor laws, as workers across sectors join the call for action.
Greece will experience a nationwide general strike on November 20, 2024, as public and private sector unions ADEDY and GSEE unite in a 24-hour walkout. The strike will disrupt public transport and ferry services while workers demand wage increases, labor rights, and enhanced social policies. Demonstrations are planned across the country, with a major rally in Athens at Klathmonos Square.
The Panhellenic Seamen’s Federation (PNO) announced it will join a 24-hour strike on November 20, called by the General Confederation of Employees of Greece (GSEE). The strike aims to address the housing crisis, restore collective labor rights, and tackle the erosion of workers' purchasing power, with Greek seamen particularly affected by these pressing issues.
Greece is likely to end its Golden Visa program's real estate investment option in January 2025 to combat its housing crisis. This follows similar moves by Portugal and Spain, and reflects a shift towards attracting investment in startups rather than property.
The Airbnb landscape in Greece is undergoing a seismic shift as Athens moves to prioritize long-term housing affordability. New licenses for short-term rentals will be frozen in central neighborhoods, while existing owners face new regulations and a potential occupancy tax increase.
The Greek government is re-evaluating its approach to short-term rentals amid growing concerns over housing availability. Instead of implementing a broad cap on rental days, it is introducing targeted restrictions in highly saturated urban areas, such as central Athens and Thessaloniki. This shift aims to balance short-term and long-term rental ratios locally, based on detailed data down to the postcode level. Additionally, a new tax incentive is being proposed to encourage the conversion of vacant or short-term rental properties into long-term leases, with Prime Minister Kyriakos Mitsotakis expected to unveil these plans at the Thessaloniki International Fair.
Barcelona residents protested mass tourism by spraying tourists with water guns and urging them to "go home." Around 2,800 people marched, citing negative impacts on housing and local services.
Property auctions in Greece are becoming a popular solution amid soaring property prices and rents. Despite the opportunities, they come with challenges, including complex bidding processes and potential legal and physical issues with properties. Recent significant deals highlight the dynamic nature of the Greek real estate market.
Greeks are facing a daunting challenge in the housing market, with soaring property prices making…
Melih Ozunal and his neighbours in Goztepe, on Istanbul's Asian shore, are facing a troubling…
During "Prime Minister's Question Time" in Parliament, Prime Minister Kyriakos Mitsotakis responded to a question…