Airbnb: Short-term Rentals Not to Blame for Greece’s Housing Crisis

The short-term rental market is not responsible for Greece’s housing crisis, according to Valentina Reino, Airbnb’s Head of Public Policy for Southern Europe.

Speaking at the 25th Prodexpo real estate conference on Tuesday, Reino stated that Airbnb has “little to no effect” on housing availability or prices in most areas.

“While short-term rentals may compete with long-term housing in certain neighborhoods and city centers, renting out private spaces — whether it’s a primary or secondary residence, or even individual rooms — on an occasional basis does not impact housing availability,” she explained. “In fact, this additional income helps the average Greek household to manage financially, while also promoting the better use of existing properties, particularly in rural areas.”

Valentina Reino, Airbnb’s Head of Public Policy for Southern Europe. Photo source: Prodexpo

Regarding Greece’s recent regulations on short-term rentals, Reino suggested reviewing the impact of these measures to ensure support for families who rely on rental income to make ends meet. She advocated for the exclusion of hosts who lease their primary or secondary residences, or individual rooms, for short-term rentals, noting that many of these hosts occupy the properties for part or all of the year.

Additionally, Reino highlighted the agreement between short-term rental platforms and Greece’s Independent Authority for Public Revenue (AADE), describing it as “a best practice in Europe”. She underlined that the registration process for hosts is straightforward, automated, and renewed annually, making legal compliance easy.

Reino also shared that Airbnb’s experience in other countries where short-term rental restrictions have been imposed has not been positive, as these measures have failed to benefit local communities and have, in some cases, driven up property prices.

POMIDA brushes off overtourism claims

Stratos Paradias, president of the Hellenic Property Federation (POMIDA) and the International Union of Property Owners (UIPI), expressed concerns about the ongoing discussions regarding short-term rentals and “alleged” overtourism.

Paradias argued that the growth of short-term rentals has improved many neighborhoods in Athens. He warned, however, that the recently announced one-year ban on new short-term leases in three central Athens districts could cause significant issues for property owners. Specifically, leases could expire, and cooperation with hosts registered under the Property Registry Number (AMA) could be disrupted.

“The AMA must be linked to the Property Identification Number (ATAK) to safeguard the investments property owners have made,” Paradias emphasized.

Stratos Paradias, president of the Hellenic Property Federation (POMIDA). Photo source: Prodexpo

Regarding the government’s proposed measure of offering a three-year tax exemption for vacant properties that return to the long-term rental market, Paradias said it could “successfully bring many houses back onto the market”, provided the legislation is well-structured.

“Unnecessary restrictions should not be imposed. Every restriction removes housing options for young people,” he warned. He also criticized the idea of applying the three-year vacancy rule to short-term rentals, arguing that it makes little sense. Property owners who wish to exit the short-term rental market should not be forced to wait three years before re-entering the long-term rental market.

The Prodexpo event, held from October 21-22 at the Athens Concert Hall, is Greece’s longest-running real estate conference.