Data instead of stereotypes at the heart of the conference
A discussion that had been missing from the public debate on short-term rentals was launched on Thursday, December 18, at the Athens Chamber of Tradesmen, on the initiative of the Short-Term Rental Committee of the Chamber. The conference, titled “Short-Term Rentals: A dialogue that never took place. Their impact on the economy and society. Myths and reality,” brought together politicians, local government representatives, professional bodies, and representatives of local communities, confirming that the issue remains open and complex.
A common denominator across all interventions was the need for the dialogue to be grounded in documented data rather than generalizations that often ideologically polarize the discussion.
Short-term rentals and the housing crisis: what the data show
According to the data presented, exclusively short-term rental properties account for just 0.4% of the country’s total housing stock and 1.1% of vacant homes—figures which, as emphasized, do not support the view that the sector is a primary cause of the housing crisis.
Instead, housing pressure was attributed to a combination of factors: limited construction activity over many years, rising construction costs, the aging building stock, and the absence of a coherent housing policy.
Measurable economic contribution at national and local level
Particular emphasis was placed on the economic footprint of short-term rentals. For the period 2020–2024, the total impact on the economy is estimated at €11.83 billion, corresponding to 5.4% of GDP, directly and indirectly.
In terms of employment, the sector supports more than 95,000 jobs, while in 2024 more than 8 million rental nights were recorded nationwide, with strong regional dispersion of revenues.
It was also noted that 98% of owners manage one to two properties, reinforcing the argument that this is primarily a small-scale activity, with income flowing back into local consumption and the upgrading of previously inactive housing stock.
The role of local government and the need for coexistence with cities
Interventions by representatives of local authorities highlighted the pressures faced by specific neighborhoods, as well as the need for localized management tools rather than horizontal measures. A shared conclusion was that short-term rentals can coexist with residents’ quality of life, provided they operate within a clear and stable regulatory framework.
The proposals: from restrictions to targeted policy
In the proposals segment, the dominant theme was the need to move away from generalized bans toward a development-oriented and proportional approach. Among the key proposals presented were:
- Establishment of a permanent dialogue committee involving the state, local authorities, professional bodies, and local communities.
- Creation of a Special Housing Fund, directing part of the tax revenues from short-term rentals to:
- the construction or renovation of housing for long-term rental,
- student housing and social housing programs.
- Urban regeneration investments, using revenues to support infrastructure and the upgrading of neighborhoods with a high proportion of aging or vacant housing stock.
Indicatively, it was mentioned that, based on current revenues, it would be possible to finance annually the construction of 32,000 housing units or up to 112,500 student rooms, substantially strengthening the housing supply.
Conclusion: part of the problem or part of the solution?
The main conclusion of the conference was clear: numerical data do not substantiate the claim that short-term rentals constitute a structural cause of the housing crisis. On the contrary, with proper planning and effective use of their revenues, they can function as a funding tool for housing and social policies.
As emphasized in the closing of the event, the dialogue on short-term rentals in Greece is only just beginning—and this time, it begins with data on the table.
