The government is attempting to regulate real estate market disruptions caused by the growth of short-term rentals with a new set of regulations to be announced in September. The measures currently discussed include implementing caps on rental days, with a view to increase housing supply for long-term rent and ideally, reduce rental prices.

PM Mitsotakis highlighted that the main goal is to put an end to those who have been exploiting their Airbnb properties, turning operations into a “business” of sorts and not merely supplementing their income. Mitsotakis also mentioned the need to free up more properties for long-term leasing, and noted that owners with multiple Airbnb properties or entire buildings for short-term rental should be treated as businesses.

The calendar cap is currently on the table and is most likely to be implemented soon, a measure already in use for Airbnb in several other European countries. More specifically, short-term rentals for each property will not exceed 90 days per calendar year. The cap is to be applied in major cities, but adjustments will be made in accordance with the areas in question. For example, a cap of 60 days is considered for islands with fewer than 10,000 residents and a slightly higher threshold for popular tourist destinations.

After using up the 90 days, lessors will need to either leave the property vacant or use them as their personal residence, with the government aiming to pressure owners into considering long-term leasing.

However, there will be exceptions to the calendar cap – for example, allowing to exceed the designated amount of days in case of a proprietor’s total income not surpassing 12,000 Euros per year for all the properties they own.