A Complete Guide to Short-Term Rental (Airbnb) Investments in Athens – 2025

Real estate in Athens has become particularly attractive in recent years, driven by a growing demand for short-term rentals. If you are considering investing in a short-term rental property in the city, there are several important factors to be aware of.

At Beta Real Estate, we have assisted a wide range of clients in identifying and acquiring properties in Athens. In addition, we provide our clients with end-to-end management of the entire process — from property sourcing and acquisition, through value enhancement and licensing, to the operation and management of short- or medium-term rentals — all handled directly and with full transparency.

In this article, we outline everything you need to know before investing, including the key advantages, the property acquisition process, financing options, property management, and the challenges that may arise along the way.

Key Takeaways

• Athens offers a real estate market with strong returns, particularly in short-term rentals.

• Understanding local market trends and the impact of tourism on property prices is essential.

• The property acquisition process includes search, due diligence, negotiation, and contract signing.

• There are various financing options, including bank loans and leveraging existing assets.

• Post-purchase property management requires ongoing attention, including maintenance and rent collection.

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Demand Is Surging — and Investors Are Benefiting: How Athens Is Becoming a Short-Term Rental Hub

In recent years, Athens’ real estate market has undergone a significant transformation. The latest data points to a continued growth trend in Greece’s short-term rental sector.
As of December 2024, approximately 132,500 active properties were listed across short-term rental platforms nationwide — a notable 11% increase compared to 2023.

Furthermore, 2024 saw a substantial rise in booking volumes, with the total number of booked nights increasing by 16% year over year. These figures highlight the growing demand for short-term rentals and reinforce the attractiveness of investing in this segment, particularly in high-demand areas such as Athens.

Once known primarily as a hub of culture and history, Athens has become a global tourism destination, offering investors the potential for stable and highly profitable income streams. As infrastructure and urban services continue to improve, understanding market trends and tenant expectations has become critical to the success of any short-term rental investment.

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Key Characteristics of the Athens Real Estate Market

The Athens real estate market is defined by several core factors:

• Dynamic and tourism-driven: The market is significantly influenced by fluctuations in international tourism.

• High yield potential: Attractive returns are achievable, especially through tourist-focused rentals on platforms such as Airbnb.

• Growing demand: There is a sustained upward trend in demand, driven in part by increased tourism.

• Relatively attractive pricing: Property prices in Athens remain competitive compared to other major European cities and Israel.

• Improving infrastructure and population inflows: Athens continues to upgrade its public transportation, leisure areas, accessibility, and urban services.

• Value-add opportunities: Many properties in Athens are 50–100 years old and require renovation and upgrading, creating opportunities for experienced investors to generate added value. This is why Beta Real Estate focuses on urban renewal projects.

• Bureaucratic complexity: Local regulations and administrative processes require careful handling and familiarity with Greek law.

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Property Price Trends in Athens

Price trends in the Athens real estate market indicate a consistent increase in property values, alongside the expansion of the short-term rental sector.
Athens is positioning itself as a center of significant investment opportunity, with the Spitogatos Property Index reporting an impressive 11.8% increase in apartment sale prices in central Athens during Q1 2025.

Source

Rental prices are rising not only due to tourism, but also as a result of Greece’s economic recovery and the continued development of public transportation in Athens, which has improved accessibility to major tourist and employment areas.

According to data from the World Bank, Greece’s Gross Domestic Product (GDP) has shown a significant recovery trend in recent years, as illustrated in the chart. After a period of volatility between 2013 and 2021, marked by both downturns and partial rebounds, GDP surged to $243.50 billion in 2023.

This figure, representing approximately 0.23% of the global economy, points to a positive economic momentum that supports Athens’ attractive real estate market and strengthens the case for continued investment in short-term rental properties.

 

Source

Price trends in Athens’ real estate market, driven by growing demand and a decline in supply, are clearly reflected in the characteristics of the rental market, as outlined below:

• Prices vary significantly by neighborhood. For example, an apartment in Plaka will be priced much higher than a similar property in areas such as Kypseli.

• There is strong demand for small, renovated apartments in the city center, particularly those suitable for tourist-oriented short-term rentals.

• It is essential to conduct thorough market research before purchasing, including comparing prices of similar properties within the same area.

 

An Important Reminder

Real estate prices can change rapidly, especially in a market like Athens. What is true today may no longer be relevant in a few months. For this reason, it is essential to stay continuously updated on the latest market trends.

For example, according to recent data, apartment prices in Athens rose by 7.66% in Q3 2024 compared to the previous year, indicating a real growth rate of 4.69%.

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The Impact of Tourism on the Greek Economy

Tourism is a central driver of Athens’ real estate market.
According to the Bank of Greece, tourism activity in 2024 increased by 35%, leading to a sharp rise in demand for short-term rental apartments, which in turn affects both property prices and yields.

Indeed, 2024 marked a record-breaking year for Greece in terms of tourist arrivals, reinforcing the structural strength of the sector.

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Rising Demand for Short-Term Rentals in Athens

Athens — with its rich history, vibrant culture, and wide range of attractions — has attracted a growing number of tourists from around the world in recent years. As previously shown, the city has experienced a steady increase in visitor numbers, prompting investors to recognize the emerging potential of the short-term rental market.

Tourists increasingly seek authentic local experiences, which has fueled demand for short-term rental apartments, particularly through platforms such as Airbnb.

As of December 2024, approximately 132,500 active properties were listed across short-term rental platforms nationwide — a significant 11% increase compared to 2023.

 

Source

 

Moreover, 2024 was marked by a notable increase in booking activity, with the total number of booked nights rising by 16% compared to the previous year. These figures highlight the growing demand for short-term rentals and reinforce the attractiveness of investing in this segment, particularly in high-demand areas such as Athens.

To better understand the significance of these trends, we have summarized the most important data points below:

 

Infrastructure and Services Development in Athens

Tourism has not only influenced the market, but has also driven significant improvements in infrastructure and urban services across the city. Local authorities and private developers are responding to growing demand by investing in transportation infrastructure, retail spaces, restaurants, and additional services.

All of these developments enhance the overall attractiveness of the area and continue to draw both tourists and investors alike.

Challenges in the Rental Market in Athens

Alongside the advantages and the growth in tourism, Athens is not without its challenges:

• Tourism can be seasonal — visitor numbers are higher in summer than in winter.

• Competition among rental properties is intense — offering a high-quality apartment in a strong location is essential.

• Airbnb regulations are constantly evolving — staying up to date with local laws and requirements is critical.

Important to Know

As of January 2025, Athens has banned private individuals from registering new short-term rental properties in the city center until the end of 2026, alongside stricter safety and quality requirements for existing hosts.
This move is intended to protect the local housing market and reduce pressure on permanent residents. (Source)

That said, Athens’ real estate market remains both attractive and challenging. With proper research and planning, it is still possible to identify strong opportunities in the short-term rental sector. Just remember to do your homework — and, most importantly, consult with experienced professionals.

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Advantages of Investing in Short-Term Rental Property in Athens

Investing in a short-term rental property in Athens can be a smart move, especially for investors seeking attractive returns. As a popular global tourist destination, Athens offers several key advantages for real estate investors.

High Returns

One of the most notable advantages is the potential for high returns. Short-term rentals — such as those listed on Airbnb — allow owners to charge higher nightly rates compared to long-term leases.
During peak tourist seasons in particular, income levels can be significant. For example, a furnished apartment in central Athens can generate substantially higher monthly income than a traditional long-term rental.

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Management Flexibility

Short-term rentals offer greater flexibility in property management. Owners can decide when to rent out the property and when to use it themselves.
In addition, Athens has a wide range of professional property management companies that handle everything from listing and guest communication to cleaning and maintenance. This is especially valuable for investors who do not live in Athens.

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Opportunities in the Greek Tourism Market

Athens’ tourism market continues to grow steadily, creating numerous opportunities for investors. The city attracts visitors from around the world who seek to experience its history, culture, and unique atmosphere.

Investing in a property located in a high-demand area — such as near the Acropolis or in Plaka — can help ensure high occupancy rates throughout the year.

Overall, investing in short-term rental property in Athens requires careful planning and a solid understanding of the local market. However, the potential benefits — including strong returns and management flexibility — make it an attractive option for many investors.

Key Considerations

• Location is critical

• Maintenance and management costs must be carefully evaluated

• A clear understanding of local laws and regulations governing short-term rentals is essential

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Did You Know?

According to a report by the Bank of Greece (Short-Term Rentals Overview, 2024), 42% of all active short-term rental properties in Greece are concentrated in Athens — more than in any other city in the country.

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The Property Acquisition Process in Athens

So, you’ve decided to buy a property in Athens — great!
Before moving forward, it’s important to understand the process. While it may sound complex, with proper planning and due diligence it can be managed smoothly.

Property Search and Due Diligence

The first step is identifying the right property. This can be done through:

• Local real estate agents

• Online property platforms

• Property management companies that also offer sourcing services

Conducting thorough market research is essential to understand which areas are attractive for investment, typical price ranges, and the income potential of each property.

• Visit Athens in person: Seeing properties firsthand provides a much better understanding of both the neighborhood and the asset itself.

• Legal due diligence: Comprehensive legal checks are crucial to ensure the property is free of debts, liens, or other legal issues. Working with a local lawyer familiar with Greek law is highly recommended.

• Technical inspection: Assess the property’s physical condition — plumbing, electrical systems, and structural integrity. A professional inspection can help identify hidden issues.

Important reminder: Patience is key. Do not rush decisions, and always verify every detail. A property investment is a major commitment and should be approached thoughtfully.

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Price Negotiation

Once you’ve found the right property, it’s time to negotiate. Negotiation is common in Greece, so don’t hesitate to offer below the asking price.
Cash buyers often have stronger negotiating power, so if cash payment is an option, it may help secure a better deal. Avoid accepting the asking price immediately.

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Signing the Purchase Agreement

After reaching an agreement on price, the purchase contract is signed. The contract must be clear, detailed, and legally sound, covering all agreed terms.
It is strongly advised to have a lawyer represent you throughout this stage. The signing takes place before a notary, and funds are typically transferred a few days in advance.

• Deposit payment: Once terms are agreed, a deposit is usually paid — commonly around 10% of the purchase price.

• Transfer of ownership: After the contract is signed and full payment is made, ownership is officially transferred.

• Property registration: The property must be registered in your name with the Greek land registry, securing your legal ownership rights.

Ensure that you have all required documentation ready — including valid identification (passport), residency permit or visa if applicable, and any tax-related documents required by Greek authorities.

• Available Financing Options for Property Purchases in Greece

Purchasing a property in Athens, as anywhere else, requires careful financial planning. There are several ways to finance a property purchase — ranging from bank loans to leveraging existing assets. It is important to understand the different options available and choose the one that best fits your financial situation.

The table below summarizes the key information you need to know regarding financing options for purchasing property in Greece:

Financing Option	Description	Advantages	Disadvantages / Key Considerations
Greek Bank Loans	Obtaining a mortgage directly from a Greek bank for the property purchase.	Direct financing linked to the asset; local banking familiarity with Greek real estate transactions.	Strict eligibility requirements; proof of stable income required; interest rates may be relatively high; lengthy approval process; significant documentation needed.
Using Existing Assets (Israel)	Leveraging an existing property in Israel as collateral to obtain a loan locally and purchase the property in Greece with cash.	Avoids Greek banking bureaucracy; potentially lower interest rates; faster execution; stronger negotiating power as a cash buyer.	Exposure to currency risk; dependency on the value of the Israeli property; increases leverage on existing assets.
Foreign Investor Credit Terms	Financing options available specifically to non-Greek residents and foreign investors.	Access to financing for investors without local residency; possible solutions for experienced investors with strong financial profiles.	Higher equity requirements (often up to 50%); lower loan-to-value ratios; longer and more complex approval process; extensive documentation (income proofs, bank statements, tax certificates).

Bank Loans in Greece

One of the most common options is to obtain a loan from a Greek bank. However, it is important to understand that loan conditions may differ from what you are used to. Greek banks carefully assess a borrower’s repayment capacity, meaning you will need to provide proof of stable income.

In addition, interest rates in Greece may be higher than in other European countries or Israel, making it essential to conduct market research and compare different offers. It is also advisable to consider property management services to help ensure stable rental income from the asset.

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Using Existing Assets

Another option is to use an existing property you own in Israel as collateral to obtain a mortgage. This allows you to take out a loan in Israel and purchase the property in Athens with cash.

The main advantage of this approach is avoiding Greek bureaucracy and relatively higher local interest rates. However, it is important to factor in the associated risks, such as a decline in the value of the property in Israel.

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Credit Conditions for Foreign Investors

Foreign investors may face different credit conditions compared to Greek citizens. For example, banks may require higher equity contributions (sometimes up to 50% of the property value) or limit the loan amount.

In addition, the loan approval process may be longer and more complex. Proper preparation is essential, including gathering all required documentation such as income statements, bank reports, and tax certificates.

Consulting with a mortgage advisor specializing in Greek real estate transactions is highly recommended in order to secure the most favorable terms. It is also important to understand the impact of tourism on the real estate market before making a final decision.

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Important Reminder

Banking policies in Greece may change from time to time, especially in the post-financial-crisis environment. Therefore, it is advisable to stay up to date with current market conditions and credit policies.

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Additional Costs to Consider When Purchasing a Property

• Brokerage fees

• Legal fees

• Property transfer tax

• Land registry (Tabu) registration costs

• Ongoing property management after purchase

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Property Management After Purchase

Once the property purchase process in Athens is complete, an equally important stage begins — property management. This is a critical phase that directly impacts the success of your investment.

Proper management not only ensures consistent income, but also helps preserve the property’s value over time and reduces the risk of operational or legal issues.

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Property Management Services

One of the most common and convenient solutions is to work with a local property management company. These firms offer a wide range of end-to-end services, allowing you to maintain peace of mind — especially if you do not reside in Athens.

Below is a table summarizing the main services typically provided by a property management company:

Service	Description	Why It’s Important
Tenant sourcing	Listing the property on platforms and initial tenant screening	Maximizes occupancy and attracts quality tenants
Background checks	Credit checks and verification of tenant reliability	Reduces non-payment risk and tenant issues
Ongoing maintenance	Repairs, renovations, and routine maintenance	Preserves the property’s condition and long-term value
Building & HOA management	Coordination with building management and service providers	Ensures proper upkeep of shared areas
Cleaning & housekeeping	Regular cleaning and professional housekeeping services	Maintains property value and cleanliness
Tenant communication	Ongoing communication and handling tenant requests	Improves tenant experience and retention
Monthly reporting & oversight	Full oversight — revenues, expenses, and property status	Full oversight — revenues, expenses, and property status

Ongoing Maintenance

Proper maintenance is key to preserving a property’s value and preventing larger issues down the line. It is important to carry out:

• Regular inspections (electrical, plumbing, structural maintenance)

• Thorough cleaning between tenants

• Upkeep of gardens, balconies, and furniture

• Timely minor repairs (locks, doors, plumbing)

Consistent investment in maintenance is not an expense — it’s a way to protect and sustain income.

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Rent Collection

The rent collection process must be clear, consistent, and contract-based. To avoid issues:

• Define a fixed monthly payment date

• Implement automatic reminder systems (SMS, email)

• Ensure the contract includes late-payment clauses and penalties

• Consider automatic payments via local apps or banking systems

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Professional Insight from the Field

What many investors don’t realize is that managing a property in Athens requires more than real estate knowledge — it requires real on-the-ground presence and deep familiarity with Greek regulation.

For example, obtaining approval to operate a property as a short-term rental (STR) requires more than simply knowing the law. It requires understanding how authorities actually operate, who to speak with, and how to accelerate processes that can otherwise take months.

At Beta, with an active office in Athens and a team of dozens of local Greek professionals, we don’t just understand the rules — we live them. This allows us to manage properties for Israeli investors in a smooth, legal, and efficient manner, maximizing returns while avoiding bureaucratic surprises.

Always remember: In Athens, the rules are written in small print — but what truly matters is knowing how to read between the lines.

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Challenges in Investing in Real Estate in Athens

So, you’ve decided to invest in Athens real estate — excellent! But before diving in, it’s important to understand the potential challenges.

Local Bureaucracy

One of the biggest challenges is Greek bureaucracy. Processes can be slow and complex, often requiring significant patience.
For example, obtaining building permits can take months — sometimes even years. This makes working with experienced local professionals essential.

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Regulatory Changes

Real estate laws and regulations can change frequently, especially regarding short-term rentals such as Airbnb. Staying continuously updated is critical to avoid legal issues or fines.

For instance, restrictions may be introduced on:

• The number of days a property can be rented annually

• New taxes on rental income

Did you know?
Properties purchased under the Greek Golden Visa program cannot be rented as daily short-term rentals (classic Airbnb).
Under the updated regulations, Golden Visa properties must be rented for a minimum of 60 consecutive nights.

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Economic Risks

Greece experienced a severe economic crisis over the past decade, and while recovery is strong, the economy is not entirely risk-free. Investors should consider:

• Currency fluctuations

• Inflation

• Potential economic slowdowns

Thorough research and professional consultation are essential before making investment decisions.

Despite these challenges, real estate investment in Athens can be highly rewarding. With proper planning, patience, and expert support, it can become a true success story.

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In Short — Key Things to Remember

• Be prepared for bureaucracy

• Stay updated on regulatory changes

• Factor in economic risks

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Tips for a Successful Rental Property Investment in Athens

Deciding to invest in a rental property in Athens is a great step — but success requires planning, strategy, and market understanding.

Define Clear Goals

Start by clarifying your objectives:

• Are you seeking stable monthly passive income or long-term capital growth?

• Do you prefer short-term tourist rentals or conventional long-term leasing?

Your answers will shape the type of property, location, and management strategy you choose.

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Choosing the Right Location

Location, location, location — especially for rental properties.

Consider:

• Proximity to public transportation

• Access to tourist attractions, universities, and shopping areas

• Neighborhood dynamics and tenant profiles

Areas such as Kallithea, Nea Smyrni, and Ambelokipi can offer attractive opportunities. Understanding your target tenants — families, students, young professionals, or tourists — is essential.

Important reminder:
The Athens market is hot, but not every “touristy” area is a good investment in 2025. The best Airbnb locations today are not necessarily the most central ones, but those offering the right mix of regulatory flexibility, reasonable purchase prices, transport access, and operational yields.

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Four Key Insights from the Field

• Local regulation: Neighborhoods like Ambelokipi and Kolonos may be less “trendy” but face fewer short-term rental restrictions than areas like Plaka or Psiri.

• Transportation access: Properties near active metro stations (e.g., Victoria or Agios Nikolaos) enjoy significantly higher occupancy — even outside peak tourist season.

• Lower purchase prices: Areas such as Kypseli or Sepolia are still priced 15–25% below the city center, yet can achieve similar nightly rates with proper renovation and presentation.

• Alternative demand segments: Medical tourism and long-term tourism are growing near hospitals and universities, creating less seasonal and more loyal tenant demand.

Pro tip:
Look for properties within 500 meters of an active metro station, priced below €2,000 per sqm.
Search for “Neighborhood name + Airbnb Restrictions Athens”, request historical management reports, and review data from platforms like AirDNA or InsideAirbnb before purchasing.

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Understanding Tenant Needs

Once you choose a location, tailor the property to your target audience:

• Tourists expect furnished apartments, fast internet, air conditioning, and modern kitchens.

• Students or long-term tenants may prefer smaller, affordable units with easy university access.

Renovating older properties and upgrading infrastructure, kitchens, and furnishings can significantly increase rental performance.

Do not hesitate to seek expert help. Greek real estate can be complex, especially for foreign investors. A good local lawyer and professional valuation can save substantial time and money.

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Final Summary and Recommendations

Investing in Athens real estate can be an excellent opportunity — if approached correctly.
Do your research, understand the local market, choose the right property, and ensure all legal and financial aspects are properly addressed.

With the right strategy, you can secure a property that generates strong and sustainable income. Good luck!

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Frequently Asked Questions

What are the advantages of investing in short-term rental property in Athens?

• Higher income potential compared to long-term rentals

• Growing tourist demand

• Management flexibility

• Personal use options

Which property types are best suited for short-term rentals?

• Central and tourist-area properties

• Apartments with easy access to attractions

• Properties with added amenities (gardens, pools)

• High-end apartments attractive to tourists

What should be considered before investing?

• In-depth local market research

• Renovation and operating cost analysis

• Careful location selection

How can a property be managed effectively?

• Strong customer service

• Use of property management technology

• Maintaining high guest ratings

• Systematic maintenance processes

How can Beta Real Estate help with short-term rental investments in Athens?

• Identifying attractive investment opportunities

• Connecting investors with trusted local service providers

• Providing personalized investment guidance

What are the advantages of working with Beta Real Estate?

• Extensive local market experience

• Access to up-to-date pricing data

• Full support throughout the acquisition process

• Tailored solutions for each investor

Does Beta Real Estate assist with financing solutions?

Yes. We support investors by:

• Advising on financing options

• Connecting with reliable funding sources

• Accompanying investors throughout the financing application process