Study: Short-term lease sector increase in Greece estimated at 25%; 1.9 bln€

6 February 2019
550 Views

Grant Thornton estimates the short-term lease sector in Greece as growing by a whopping 25 percent last year, with revenues estimated at 1.9 billion euros, or 10 percent of the annual tourism-related expenditure in the country.

The figure was included in a study unveiled by the accounting and advisory firm this week in Athens, and commissioned by the Hotel Chamber of Greece.

The chamber and lesser hotel organizations have long called for a stricter framework governing short-term leasing, the so-called “AirBnB” phenomenon, viewing the latter as a direct rival.

According to Grant Thornton business consulting director for Greece, Panagiotis Prontzas, the goal of the study was the “quantify the social repercussions of the short-term lease economy. The issue is particularly complex, and we must, as a society, explore whether there are population groups that are negatively affected by the expansion of this phenomena.”

As mostly expected, Prontzas referred to a “crowding out effect” from the short-term lease phenomenon as well as a spike in prices of rents in areas where the “AirBnB” effect is particularly intense.

You may be interested

Brutal murder of British mother, 20, in front of her baby in Attica has left Greece in shock
GREECE
shares35 views
GREECE
shares35 views

Brutal murder of British mother, 20, in front of her baby in Attica has left Greece in shock

makis - May 11, 2021

Greek society is in shock, as more details are emerging of the brutal murder of a British mother, 20, in…

First TUI flights depart for Greece and Cyprus from Sweden
GREECE
shares266 views
GREECE
shares266 views

First TUI flights depart for Greece and Cyprus from Sweden

Panos - May 11, 2021

TUI‘s first flight from Sweden to Mediterranean destinations departed this morning. According to data, the Greek islands and Cyprus are…

Ambassador Pyatt at Delphi Forum: Biden wants Greek-US relations to level up
FINANCE
shares41 views
FINANCE
shares41 views

Ambassador Pyatt at Delphi Forum: Biden wants Greek-US relations to level up

Panos - May 11, 2021

The US Ambassador to Athens, Geoffrey R. Pyatt, spoke with journalist Marianna Kakaounaki in the framework of the 6th Delphi…

Leave a Comment

Your email address will not be published.