The AADE records significant increase in short-term rental income was recorded in 2024, with total income reaching €830 million. In the context of the Prodexpo conference, AADE’s governor, Giorgos Pitsilis, emphasized the contribution of new technological tools and cooperation with short-term rental platforms to strengthening tax compliance and improving revenues.
He emphasized that “from the €654 million revenue in the 9th month of 2023, we have reached €742 million in the 9th month of 2024 and we will end the year with a revenue of €830 million”.
Mr. Pitsilis mentioned that AADE has developed innovative tools in collaboration with the platforms, which has led to higher levels of compliance. In particular, 90% of managers with more than three properties have already opened books, while the remaining 10% have either used the wrong codes or taken no action, with auditing intensifying to address these issues.
The quality of the data AADE receives from short-term rental platforms has also improved. The percentage of problematic listings decreased from 37% in 2022 to 12% in 2024. Despite the improvements, the difficulty in identifying vacant properties remains. To address this issue, the AADE is working with the Land Registry to create the Property Ownership Registry, which will offer full transparency and enable the development of targeted policies.
On the underground economy front, AADE’s tools are constantly evolving, with the agency already having identified hundreds of cases of tax evasion from undeclared income from previous years. The compliance is impressive, with revenues soaring from €70m to €830m in a few years.
Airbnb’s Valentina Reino described the cooperation with the AADE as “best practice” at the European level, while emphasizing that the platform remains committed to ensuring transparency and renewing the cooperation with the AADE.
The president of POMIDA, Stratos Paradias, expressed concerns about the new regulations restricting short-term rentals, noting that the ban on issuing new AMAs in the three central districts of Athens will create serious problems for owners who will see their contracts expire or, who want to discontinue their cooperation with management companies. He suggested that the AMA should follow the property and be linked to the ATAK to make it easier for owners and to avoid unnecessary difficulties.
The Prime Minister’s economic adviser, Alexis Patelis, left open the possibility that the ban on issuing new AMAs could be extended to other areas beyond the three central districts of Athens. However, he said any decisions would be made after analyzing the data and the impact on the property market. He also underlined the need to create better databases in the next two to three years, which will help to increase transparency in buying, selling and renting properties.
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