A panoramic view of Athens. Real estate in Greece is experiencing a significant price rally, causing concerns despite being relatively affordable compared to other European countries.
Hotel owners are voicing concerns over the unfair competition posed by a rising number of short-term rental apartments in Greece, despite recent government tax initiatives. The market’s growth is linking to overtourism issues and scarcity of affordable housing in tourist hotspots.
A recent report highlights the environmental impact and disproportional bed supply from short-term rentals compared to traditional hotels. While the property owners benefit financially, discussions continue on the need for sustainable tourism practices and regulation in the sector.
As the debate unfolds, stakeholders are focused on finding a balance between economic growth and environmental preservation in one of Europe’s most popular travel destinations.