{"id":43726,"date":"2026-10-12T10:11:41","date_gmt":"2026-10-12T07:11:41","guid":{"rendered":"https:\/\/bnbnews.gr\/?p=43726"},"modified":"2026-10-12T10:27:00","modified_gmt":"2026-10-12T07:27:00","slug":"airbnb-athens-1500-properties-long-term-rentals","status":"publish","type":"post","link":"https:\/\/bnbnews.gr\/en\/news\/43726\/airbnb-athens-1500-properties-long-term-rentals\/","title":{"rendered":"Airbnb: What happened to the 1,500 properties that left short-term rentals in central Athens?"},"content":{"rendered":"

Airbnb in Athens<\/a> has seen a decline of around 1,500 registered properties<\/strong> over the past year, following restrictions on new registrations in the short-term rental property registry. Yet behind this decline lies a question with significant implications for the housing crisis: what actually happened to these apartments? Did they return to the long-term rental market, go up for sale or remain empty? Real estate professionals describe a more complex picture than the figures alone suggest, as a property leaving the Airbnb market does not necessarily become an available home for the capital\u2019s permanent residents.<\/p>\n

The question has become even more relevant following comments by Athens Mayor Haris Doukas about the approximately 40,000 homes standing unused<\/strong> across the municipality. On the one hand, thousands of apartments remain outside the active housing market. On the other, the government is seeking to curb the further expansion of short-term rentals to ease pressure on housing supply. The outcome, however, is less clear-cut than the decline in registrations might suggest.<\/p>\n

The two figures are not directly comparable. The 40,000 unused homes are spread across the entire Municipality of Athens, while the decline of around 1,500 properties concerns the three municipal districts where the ban on new registrations applies. They nevertheless illustrate different aspects of the same problem: the market\u2019s difficulty in turning existing housing stock into available, affordable homes for people seeking somewhere to live.<\/p>\n

What lies behind the decline of 1,500 properties?<\/h2>\n

The starting point for the debate is the data presented by Minister of National Economy and Finance Kyriakos Pierrakakis. According to those figures, the number of registered short-term rental properties in the three central municipal districts fell from more than 14,000 to fewer than 12,500 within a year<\/strong>.<\/p>\n

This change follows the introduction of a ban on new registrations in the Short-Term Stay Property Registry in these areas of Athens. The measure seeks to stem the continued conversion of homes into tourist accommodation, particularly in neighbourhoods where the spread of Airbnb rentals has reshaped the local property market.<\/p>\n

From Plaka and Monastiraki to Koukaki, Petralona, Pangrati and Neos Kosmos, letting apartments to visitors has become a particularly popular investment option in recent years. Small apartments were renovated, repurposed and listed on short-term rental platforms, allowing their owners to capitalise on rising tourism demand.<\/p>\n

The picture, however, appears to be changing. Greater competition, operating expenses, new accommodation standards and the prospect of securing a steady income from long-term rentals are changing the equation for property owners.<\/p>\n

This does not mean that all 1,500 properties permanently left the short-term rental market because of the ban. The decline in registrations records a change in the registry, without revealing what happened to each individual property. This is precisely where the implications for the housing market become more interesting.<\/p>\n

Speaking to BnBNews.gr, Anna Mokakou, a certified property valuer and head of NEW LIFE REAL ESTATE<\/strong>, describes this complexity. She is cautious about whether the recorded decline reflects an equivalent number of homes actually leaving short-term rentals.<\/p>\n

\u201cI do not think the number of properties that have left short-term rentals is that high. I do not know where this figure comes from, but several different things could be happening,\u201d she says.<\/p>\n

As she explains, properties that disappear from the registry do not all follow the same path. Some owners may have concluded that short-term letting was no longer as profitable and opted to return to long-term rentals. Others may have decided to sell, which also entails the cancellation of the previous manager\u2019s Property Registration Number, known in Greece as an AMA.<\/p>\n

There is also a third possibility, with particular implications for housing supply: apartments withdrawn from short-term rentals that are not offered for long-term letting either, because their owners intend to sell them.<\/p>\n

According to Mokakou, many owners who decide to put their property up for sale prefer to keep it vacant to facilitate the transaction. An apartment with vacant possession can attract buyers who want to move in immediately or undertake renovations and put it to a new use, without being bound by an existing tenancy.<\/p>\n

A property may therefore have stopped operating as an Airbnb without returning to the rental market. It may be up for sale, have already changed hands or remain temporarily empty while its next use is being decided.<\/p>\n

This distinction is crucial. A decline in short-term rental registrations is one thing; an increase in the homes available for permanent residents to rent is another. For now, there is insufficient publicly available data to establish exactly how the approximately 1,500 properties are divided between long-term letting, sales and vacancy.<\/p>\n

Why long-term rentals are becoming attractive again<\/h2>\n

Manos Kranidis<\/strong> offers a different but complementary perspective. A civil engineer who graduated from the National Technical University of Athens, holds an MSc from Carnegie Mellon University, serves as CEO of KRAMA PROPERTY and sits on the board of the Hellenic Property Federation, POMIDA, he tells BnBNews.gr that owners leaving short-term rentals mainly have two economically rational options: let their property on a long-term basis or sell it.<\/p>\n

In his view, an owner with a property in a high-demand area is unlikely to leave it unused when it could generate income or release capital through a sale.<\/p>\n

Long-term letting is attracting renewed interest because it combines predictable income with fewer management demands. Unlike short-term rentals, where owners must cover a substantial share of operating expenses, conventional letting reduces many of these costs.<\/p>\n

An Airbnb property may generate higher revenue during periods of strong tourism demand. However, cleaning, maintenance, booking management, utility bills, platform commissions and potential periods of low occupancy must all be factored into the calculation.<\/p>\n

A long-term tenant, by contrast, can provide a steady monthly income while taking responsibility for some of the property\u2019s ongoing running costs. This means that even if the monthly rent is lower than the potential revenue from short-term letting, the final net return may prove competitive.<\/p>\n

According to Kranidis, strong demand for long-term rentals makes this option even more attractive, reducing the risk of an apartment remaining without a tenant for an extended period.<\/p>\n

Selling, meanwhile, allows owners to realise the value of their property immediately, particularly at a time when residential prices in central Athens have risen significantly compared with previous years.<\/p>\n

An owner\u2019s decision therefore depends on more than short-term rental restrictions alone. It involves a broader financial assessment: how much income the property can generate, what it actually costs to operate and what a sale could deliver.<\/p>\n

The 40,000 unused homes and the other side of the housing crisis<\/h3>\n

The debate over the fate of properties leaving short-term rentals adds another dimension to an already complex problem: the large stock of homes standing unused in Athens.<\/p>\n

Athens Mayor Haris Doukas has referred to approximately 40,000 unused homes across the municipality, highlighting the paradox of a city where, despite intense housing pressure, a substantial share of the existing residential stock is not being used.<\/p>\n

The problem therefore extends beyond the number of homes converted into tourist accommodation. It also concerns properties that remain empty for other reasons, ranging from high renovation costs and unresolved inheritance issues to owners waiting for a better sale price or being reluctant to take on the risks of a long-term tenancy.<\/p>\n

In many cases, bringing an older apartment back onto the market requires substantial investment. Replacing electrical and plumbing systems, improving energy efficiency and undertaking general repairs can involve costs that owners are either unable or unwilling to cover.<\/p>\n

Even when financial incentives are available to bring vacant homes back into use, this does not always happen immediately. It takes time, capital and, above all, confidence that the property\u2019s future use will deliver a satisfactory return.<\/p>\n

The figure of 40,000 homes cannot, of course, be linked numerically to the decline of 1,500 Airbnb registrations, as it covers a different geographical area and a different category of properties. It nevertheless shows that addressing the housing crisis depends both on limiting tourist use and on bringing existing unused homes back into circulation.<\/p>\n

The real need is for small, affordable apartments<\/h3>\n

Kranidis places particular emphasis on the type of properties returning to the market. He argues that the housing crisis does not affect all categories of homes equally, but is concentrated primarily in smaller apartments sought by households with limited financial means.<\/p>\n

In his assessment, larger homes are more readily available, while demand for properties of around 200 square metres is not associated with the same pressing housing needs. The greatest difficulties are faced by people looking for a small, affordable home who cannot meet today\u2019s rental prices.<\/p>\n

This is particularly relevant to central Athens neighbourhoods, where much of the demand for permanent housing concerns small apartments suitable for young workers, students, people living alone and couples. If properties leaving Airbnb in Athens fall into this category and return to long-term letting, they could help increase supply where it is needed most.<\/p>\n

Even then, however, the outcome is not guaranteed. A small, fully renovated apartment in Koukaki, Pangrati or the historic centre may return to the long-term rental market at a price that remains beyond the reach of many prospective tenants. Increasing supply is a necessary condition for rebalancing the market, but it does not, on its own, guarantee affordable housing.<\/p>\n","protected":false},"excerpt":{"rendered":"

Airbnb in Athens has seen a decline of around 1,500 registered properties over the past year, following restrictions on new registrations in the short-term rental property registry. Yet behind this decline lies a question with significant implications for the housing crisis: what actually happened to these apartments? Did they return to the long-term rental market,<\/p>\n","protected":false},"author":83,"featured_media":41508,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":"","_members_access_role":[],"_members_access_error":""},"categories":[506,518],"tags":[535,604],"class_list":["post-43726","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","category-518","tag-airbnb-en","tag-athens-en"],"_bunyad_layout_template":null,"_bunyad_layout_spacious":null,"_bunyad_sponsor_name":null,"_bunyad_sponsor_logo":null,"_bunyad_sponsor_url":null,"_bunyad_sub_title":"Fewer registrations do not automatically mean more homes available to rent. Property sales, long-term lettings and apartments that remain empty reveal a more complex picture.","_yoast_wpseo_metadesc":"Airbnb in Athens: Around 1,500 fewer registered properties, but did they return to long-term rentals, go up for sale or remain empty?","_yoast_wpseo_focuskw":"Airbnb in Athens","_yoast_wpseo_title":"Airbnb in Athens: What happened to 1,500 properties?","_bunyad_layout_style":null,"yoast_head":"\nAirbnb in Athens: What happened to 1,500 properties?<\/title>\n<meta name=\"description\" content=\"Airbnb in Athens: Around 1,500 fewer registered properties, but did they return to long-term rentals, go up for sale or remain empty?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bnbnews.gr\/en\/news\/43726\/airbnb-athens-1500-properties-long-term-rentals\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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