Greek Prime Minister Kyriakos Mitsotakis announced a package of 6 measures aimed at alleviating the housing crisis, including tax breaks for entrepreneurs, restrictions on short-term rentals and renovation subsidies to stimulate the supply of affordable housing.
6 main measures to combat the housing crisis:
- Tax haven for investors. Rental income from new or renovated buildings is exempt from tax if the lease is for a minimum of 10 years.
- Housing instead of offices. Simplification of rules for converting warehouses and offices into housing stock. Investors are attracted by maintaining the conditions of the “Golden Visa” for such properties (but without the right to short-term rentals).
- A blow to Airbnb. The ban on new licenses for short-term rentals extends from Athens to the center of Thessaloniki. When the apartment is sold, the license is canceled.
- Renovation grants. The program is worth 400 million EUR. The state will pay up to 90% (up to 36,000 EUR) for the renovation of old and empty houses for families with incomes up to 35,000 EUR.
- Support for civil servants. Doctors and teachers will receive a subsidy of two months' rent per year when they work in other regions.
- Municipal housing. Reconstruction of buildings in remote areas specifically for housing government employees.
Detailed statistics on average property prices in Bulgaria by city and neighborhood can be found at imot.bg