Apartment booking sites used by tourists and other travelers have boosted growth in Greece, as they have done elsewhere. Real estate that remained unused is now being developed. New cells of urban economic activity have been created around those properties.
However, the side effects of this trend are already being felt in the country’s big cities, starting with the asymmetric increase in rents. Apart from imposing taxation, the government will need to consider introducing certain limitations and rules for such rentals in order to ensure that city centers will continue to be inhabited by locals.
The upcoming municipal elections are a good opportunity to open this debate in Athens, before it is too late.