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 incentives
The Greek Parliament has passed a new tax bill introduced by the National Economy and Finance Ministry, with the ruling New Democracy party securing its approval amid opposition resistance. The legislation, aimed at boosting incomes and fostering innovation, includes 72 tax cuts and measures to fight tax evasion. Deputy Minister Christos Dimas defended the bill as a step toward strengthening the Greek economy and improving public services, though critics remain divided on its broader implications.
The Greek government is incentivizing property owners to convert short-term rentals (like Airbnb) into long-term leases by reducing the required short-term rental period from three years to one to qualify for a three-year tax break. However, property owner associations like POMIDA argue that linking the tax break to the initial tenant, rather than the property itself, creates insecurity and discourages participation.
The new Greek tax bill introduces major changes for short-term rental properties, including a ban on new permits for Airbnb-style rentals in central Athens for 2025. Property owners who violate these regulations face hefty fines, with penalties escalating up to €40,000 for repeat offenses. The bill also includes tax incentives for landlords who convert short-term rentals into long-term leases and introduces a higher ENFIA reduction for insured properties. These changes are set to reshape the rental market and offer new opportunities for property owners.
Greece launches a comprehensive online guide to attract global talent and encourage the return of Greek expats. The guide provides step-by-step instructions on relocation procedures, tax incentives, and resources for navigating life in Greece.
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.
Between 2010 and 2021, about 600,000 educated Greeks left the country, prompting the finance ministry to offer tax incentives to encourage their return. Despite these efforts, emigration continues, though at a reduced rate. The Greek government, under Prime Minister Kyriakos Mitsotakis, is working to reverse this trend by offering a 50 percent tax rebate for returning expatriates. However, challenges remain, including low living standards and high unemployment, which make it difficult for many to return.
foreign investment, Greek real estate, property investment, Golden Visa, tourism boom, real estate market trends, competitive property prices, Mediterranean lifestyle, infrastructure development, tax incentives, investment opportunities, sustainability in real estate, strategic location, high-yield properties
The government is exploring new tax incentives and regulations to promote long-term rentals over short-term rentals, including potential increases in tax rates for short-term income and limits on the number of properties that can be rented short-term. Expected decisions in September may impact property owners and rental markets significantly
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