ECONOMY

Short-term rentals cover fraction of flats

short-term-rentals-cover-fraction-of-flats

Just 5.3 percent of the total stock of apartments for rent in Attica are currently bound for short-term leasing, numbering below 12,000 across the capital, according to data presented on Thursday by the Sharing Economy Association (SODIA).

Speaking at an event by the Athens Traders Association and the Hellenic Property Federation (POMIDA), SODIA officials Theodora Dima and Romina Tsitou defended online platforms like Airbnb and HomeAway, saying that have contributed to the decentralization of tourism, livening up districts in the capital that used to have little or no demand. They conceded, however, that many locals wanting to move to the city center are finding it difficult to find an apartment to rent, which is why short-term rentals have been getting some heat recently.

Dima and Tsitou went on to stress the risks stemming from growing demand for property acquisitions by Chinese investors, calling on the state to increase inspections against tax evasion and to offer incentives for abandoned buildings to be put into use again.

Andreas Chiou, the head of the Panhellenic Association of Property Managers (PASYDA) ,said there are 8,989 active properties in Athens on online platforms. Just 10 percent are advertising individual rooms.