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Draft Law Places 90-day Cap on Short-term Rentals in Greece

hand over house keysIn efforts to deal with a growing sharing economy and lost taxes to the tune of 250 million euros annually, the Greek government is expected to table a draft law which foresees a 90-day limit on short-term rentals in the city and 60-day cap for the islands (due to a shorter season), the General Secretary of Tourism Policy and Development Giorgos Tziallas said this week.

Speaking at a day-event on the sharing economy, Tziallas said that a legal framework covering short-term rentals — which has been an standing demand of local hoteliers — has been delayed due to disagreement with Greece lenders. Tziallas added that elsewhere in Europe, the issue is at the discretion of municipal authorities.

Besides the above restriction, the ministry’s plan also includes the creation of a home e-rental registry which will provide all properties and their owners with a special ID; collaboration with online rental platforms for the provision of information to Greek tax authorities; the execution of audits to ensure compliance and the imposition of hefty fines for violations; a limit to the number of properties a person can lease; an annual rental restriction; and the introduction of a special 5 percent tax on the rate per overnight stay.

According to the said bill, all leasing transactions are exempt from VAT.

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