Greece’s booming short-term leasing sector, so-called “AirBnB-type” lodgings, will be subject to the application of VAT, Greek Prime Minister Kyriakos Mitsotakis himself announced on Saturday, speaking at an annual state-of-the-economy address in Thessaloniki.
According to Mitsotakis, income from three or more properties exploited on a short-term basis will be subject to VAT and other fees imposed on hospitality units, i.e. hotels, motels, rooms-to-let etc. – beginning as of Jan. 1, 2024.
Under the current framework, an individual leasing out “AirBnB-type” properties is taxed at 15 percent of the generated income, if the latter is below 12,000 euros annually; 35 percent for income of between 12,001 and 35,000 euros and 45 percent for income in excess of 35,000 euros.
This specific sub-sector of the overall Greek tourism/holiday industry has grown exponentially over the past few years, with projected turnover expected to reach roughly four billion euros this year. Indicative of the fertile climate – or the complete absence of regulatory rules – is that the turnover of the Airbnb economy in Greece is expected to reach 4 billion euros this year
An estimated 100,000 properties in Greece are listed on the AirBnB platform alone, with central Athens alone featuring 12,345, according to the Inside Airbnb website.
In the northern city of Thessaloniki, listings total 3,717; 25,425 for Crete, and more than 32,000 for the south Aegean region, which includes the popular Cyclades Island chain.
Latest News
Heating Oil Prices in Greece Range from €1.16 to €1.39 per Liter
In Athens, the average price of heating oil, which became available to the public as of Oct. 15, stands at 1.67 euros per liter, while in Thessaloniki, it is a little higher at 1.77 euros per liter
Homeownership Increasingly Unattainable for Young Greeks
Compared to two decades ago, the difficulty of finding housing has risen dramatically, with homeownership rates in Greece plummeting since 2005
S&P Delays Greek Economy’s Credit Review, Keeps Rating at BBB-
Moody’s took a “stricter” stance compared to the other agencies when in Sept. of 2023 it refused to grant Greece the investment grade
The History of Greece’s Tallest Buildings
By the end of 2025, the rejuvenated Hilton Athens—now rebranded as "The Ilisian"—will begin a new chapter as an innovative multi-use complex, featuring the Conrad and Waldorf Astoria brands of hotels and residences.
Alonissos Top Pick for Popular French Website
The list also includes Chios, Kythira, Ithaca, Kea, and Patmos
Greece’s Tourism Success Tied to Expanding U.S. and Asian Markets
Its findings reveal that travelers to these destinations are becoming increasingly demanding, expecting high-quality travel experiences while also seeking authenticity.
Greece to Simplify Procedures for Solar Installations
Under the new procedures, businesses no longer need to seek approval from Greece's electricity regulator or obtain an environmental permit as part of the application process for installing solar panels.
HCAA Reports 6.1% Rise in Passenger Traffic January-September
Regarding domestic and international flights, the total number of passenger arrivals and departures amounted to 9,984,655 in the first nine months of 2024
Greece Tops Europe in Rent Payment Struggles
Families with children are even more affected, with 26.3% of these households struggling to pay rent.
S&P Set for Key Decision on Greek Economy Amid Positive Outlook
Last April’s positive outlook issued by the agency lays the groundwork for another potential upgrade.