Greece Real Estate Market: Rise of Serviced Apartments

Explore the growing demand for serviced apartments in central Athens, where integrated hospitality services attract savvy investors in the Greece real estate market.

In the heart of Athens, a burgeoning trend has emerged: serviced apartments nestled within hospitality-driven edifices are capturing the attention of astute investors. These properties, ingeniously operated through digital short-term rental platforms, have managed to sidestep the recent regulatory restrictions that have left many in the real estate sector in a state of disarray. 

Despite the impending ban on the issuance of new Property Registry Numbers in central Athens, effective January 1, these serviced apartments are poised to continue their operations unabated. Market analysts elucidate that, while these assets are fundamentally categorized as short-term rentals, they cleverly circumvent the need for a Property Registry Number. Instead, they operate under a purely touristic license, akin to that of a hotel, albeit with a distinct operational model and product offering that sets them apart.

This unique positioning not only ensures their survival amidst regulatory challenges but also opens the door for the creation of additional units, further enriching the tapestry of Athens' accommodation landscape. As the demand for such properties escalates, one cannot help but marvel at the intricate dance between regulation and innovation that defines the current real estate milieu in this historic city.