Greece Short-Term Rental Regulations Update: New Rules for 2024

Stay informed on the latest updates to Greece's short-term rental regulations for 2024. Learn how these changes may affect property owners.

Greece’s Parliament has recently implemented changes to the rules governing short-term rentals, effective as of January 1st, 2024. These changes have implications for property owners looking to rent out their accommodations in the upcoming year. Let’s delve into the key modifications and how they may impact you as a property owner.

One significant change is the introduction of a Climate Fee, which will be applicable to properties rented out between March and October. The fee amounts to 1,50€ per day for most properties, with a higher rate of 10,00€ per day for detached properties exceeding 80 sqm. From November to February, the fee is reduced to 0,50€ per day, or 4,00€ per day for larger detached properties. This fee is collected from guests and must be paid by property owners to the tax authorities, with the revenue earmarked for public projects.

Another adjustment is the implementation of an Accommodation Tax, amounting to 0.5% of the rental amount, which is collected from guests and remitted to the tax authorities. This tax, previously applicable only to tourism businesses, has now been extended to rental properties as well.

The short-term rental stay limit has been reduced from 90 days to 60 days, effective from January 1st, 2024. However, the specific regions to which this limit applies have not been specified, allowing homeowners to continue renting out their properties for the entire year.

Property projects renting out all apartments through a short-term rental system are required to obtain an EOT license from the Greek National Tourism Organization. Additionally, individuals owning three or more properties available for short-term rental must charge a VAT of 13%. Consideration may be given to registering as a company in such cases, as companies can offset the VAT with other business activities.

For individuals owning one or two properties used for short-term rentals, rental income remains exempt from VAT. It is advisable to seek further information on the taxes applicable to rental property owners.

These changes to Greece’s short-term rental regulations introduce new fees and requirements for property owners. It is essential to stay informed and compliant with the updated rules to ensure a smooth rental process in 2024.