New obstacle for short-term rental investors

A recent decision by the Thessaloniki Court of Appeal against an investor who attempted to convert office spaces into residences and utilize them for short-term leases is seen as a new major obstacle to similar ventures by creating a legal precedent.

Dozens of buildings around Athens’ Omonia Square have hundreds of empty offices due to the departure of the professionals who rented them in previous years.

Now, interested investors will have to secure the required consent from other owners in the buildings to avoid similar lawsuits.

At the same time, the government is reopening the issue of imposing tighter restrictions on short-term rentals.