Athens-based architect and Chicago native Katerina Sirouni helps owners decode Greek property laws. In this post she provides the latest in Greek property news.
Greek property ownership
As a Greek American who has been educated and lives in Greece — and happens to be an architect — I am continually approached by Chicago area family and friends about how to make sense of the many changes in Greece’s property laws, codes, and taxes. As the owner and operator the architectural firm, KSirouni Architects, I help clients all over the world in design, management, and maintenance of properties, as well as navigating Greece’s new property laws.
Here’s the latest in Greek property news.
Photo by Katerina Sirouni
Short-term rentals license
Have you ever thought of occasionally renting out your city condo or pappou and yiayia’s patriko and still use it? Well, now you can!
The Greek government has recently passed a law that allows owners to lawfully rent their property for a short-term, as often as desired, throughout the year. You can list and rent your property through online platforms such as AIRBNB, one of the world’s largest property marketplaces connecting over 190 countries.
In the past, owners were obliged to provide a special license issued by the Ministry of Tourism for leasing their homes for a period of less than 30 days.This new law however, does not substitute the Short-Term Rentals License required for renting homes for up to three months.
If you decide to take advantage of this opportunity, keep in mind that you are required by law to file annual tax returns. Short-term rental income is taxed as long-term income as the law stands up-to-date but we all know that this may change as the Greek government is always full of last minute surprises!
What’s new in capital controls?
NEW LIMIT! The weekly limit of withdrawing cash in Greece may still be 420 Euros, but you can now wire up to 1,000 Euros abroad per month from your Greek bank account.
Last time, we announced our new Q&A. The response has been overwhelming! Next time we’ll dedicate an entire post to Q&A. In the meantime, feel free to send your question.
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