Short-Term Rentals in Greece Have Minimal Impact on Housing Market

A study by the Athens University of Economics and Business reveals that short-term rentals account for just 0.4% of Greece’s total housing stock. At this scale, the impact on the residential housing market is minimal, but the economic contribution is significant, according to Ekathimerini.

The number of short-term rental properties is dwarfed by the estimated 2.28 million vacant homes and apartments in the country. Researchers also highlighted the contribution of online platforms, particularly to tourism and employment. By 2023, platforms like Airbnb were estimated to have generated €3.25 billion in economic activity and supported over 100,000 jobs at local and national levels.

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The short-term rental industry has become an integral part of the Greek tourism and hospitality sector, contributing 4.5% to 5.4% of GDP in 2023. According to AADE, tax revenues from short-term rentals hit €830 million in 2024—ten times more than in 2017.

The European Bank for Reconstruction and Development notes that the rapid growth of rentals and hotel openings between 2022 and 2024 helped accommodate the post-pandemic tourism boom. Still, short-term rentals have lower occupancy rates (30.1–56.1%) than hotels, and stays tend to be shorter (3.7 to 4 days).

The number of listed short-term rentals continues to grow. In April 2024, there were 212,000 properties available; by April 2025, that number had risen to 228,000. In May, listings increased from 218,000 to 236,000, and in June, from 225,000 to 242,000. In August 2025, demand for short-term rentals in Greece rose 12% year-on-year, outpacing Italy and Spain (under 10%) according to TornosNews.

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Protothema points out that the study was released shortly after the government imposed new rental restrictions. In central Athens, new licenses for short-term rentals are temporarily banned in areas such as:

Plaka, Kolonaki, Koukaki

Syntagma, Omonia, Monastiraki

Exarchia, Ilisia, Neapoli

Mets, Neos Kosmos, Agios Artemios

Pagrati, Votanikos, Metaxourgeio

Gazi, Petralona, Rouf

The moratorium may be extended until December 31, 2026. The government aims to restore a balance between short- and long-term rentals.

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New rules will also require Airbnb-style rentals to meet hotel standards. Starting October 1, 2025, all such properties must be licensed and insured, equipped with fire extinguishers, smoke extraction systems, emergency signage, and first-aid kits. Adequate ventilation and natural lighting will be mandatory. Renting out windowless basements will be prohibited, though former warehouses and industrial buildings will remain allowed.

Greek Hotel Association President Yiannis Chatzis warned that unregulated short-term rentals harm the tourism industry and social cohesion. At the same time, property owners fear declining profitability. While media narratives once focused on rental expansion and soaring prices, the rhetoric has shifted—yet restrictions remain in place and more are expected.

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