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Greece Implements Ban on Cash Payments in Property Deals, with Exceptions for Pre-Established Agreements

Violators face strict consequences, including fines amounting to 10% of the transaction value if payments are not properly verified. A new rule in Greece, effective December 11, requires all property-related financial transactions to be conducted exclusively through banking methods, effectively eliminating cash payments from this process. While the regulation is stringent, it includes specific exceptions…

Bank of Greece: Housing Price Trends in Q3 2024

According to preliminary data, apartment prices in Greece (excluding inflation) rose by an average of 7.8% year-on-year in the third quarter of 2024. In comparison, the same period in 2023 saw a 13.8% increase. By Type of Housing In Q3 2024, prices for new apartments (up to 5 years old) grew by 9.7%, while older…

Demand for Short-Term Rentals in Greece Remains Strong

AirDNA has shared statistical data for the summer months of the current year, revealing significant changes in the short-term rental sector in Greece. AirDNA Data During the summer months, demand for short-term rental housing in Greece saw a substantial increase compared to the previous year. According to AirDNA, this growth reached approximately 18% in August…

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