The Greek government has introduced a tax exemption for rental income to encourage property owners to convert vacant or short-term rental properties into long-term leases. Under the new measure, landlords signing leases between September 8, 2024, and December 31, 2025, will enjoy a three-year exemption from income tax on rental income. The exemption applies to properties up to 120 m² and requires compliance with tax reporting rules. However, the exemption will be revoked if the property becomes vacant or is converted back to short-term rental during the lease term.
Tag: tax exemption
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.