Introduction: Airbnb & Short‑Term Rental Restrictions for Golden Visa Properties — 2025 Guide
For years, investors obtaining a Golden Visa in Greece often relied on short-term rentals (STRs) like Airbnb to maximize returns on their properties. These investments allowed high yields, seasonal flexibility, and a steady income stream. However, beginning in 2024, a regulatory shift changed the rules: authorities prioritized housing availability for long-term residents, limiting STRs for Golden Visa properties.
This guide clarifies what Golden Visa investors must know about Airbnb restrictions in 2025, including applicable legislation, penalties, compliance strategies, and legal alternatives. Understanding these changes is crucial for anyone planning or managing real estate investments under the Golden Visa program.
1. Why the Rules Changed: Housing Market Pressure & New Legislation
Golden Visa properties have historically contributed to Greece’s real estate market, yet rapid growth in short-term rentals caused local housing shortages. Policymakers responded to increasing pressure:
- Rising urban housing demand for long-term residents
- Public concerns about affordability and community stability
- Regulatory shift emphasizing sustainable housing over transient income
The new rules reflect a broader policy goal: ensuring that real estate investments supporting residency benefit local housing needs rather than purely speculative short-term gains. Investors must now consider long-term rental strategies or alternative uses to comply with the updated framework.
2. What the New Rules Say: Law 5100/2024 & Golden Visa Restrictions
Under Law 5100/2024, Golden Visa properties face strict limits on short-term rental activity:
- Short-term rentals (rentals under 30 days, e.g., Airbnb) are prohibited
- Subleasing or temporary rental arrangements for Golden Visa purposes is forbidden
- Relevant provisions are specified in Article 12, Paragraph 3 of Law 5100/2024 (Varnavas Law | Golden Visa Greece)
These rules apply to all newly acquired Golden Visa properties and enforce a clear distinction between regular investments and temporary, high-turnover rental strategies. Investors must adapt their property management to remain compliant.
3. Penalties for Non‑Compliance: €50,000 Fines and Permit Revocation
Violating the STR ban carries serious consequences for investors:
- Fines of up to €50,000 per property
- Revocation of Golden Visa eligibility or permits
- Potential legal liability for repeated non-compliance
Authorities enforce these penalties to ensure that housing resources benefit long-term residents rather than short-term tourism-focused investments. Investors relying on Airbnb income must assess their risk tolerance carefully and consider alternative compliance strategies.
4. Who the Ban Applies To — New Investors, Renewals and Transitional Cases
The STR ban impacts several categories of Golden Visa holders:
- Properties purchased for initial Golden Visa applications post-2024
- Renewal applications where properties were previously rented short-term
- Transitional cases: certain pre-2024 acquisitions may have limited grandfathering rights
Varnavas Law emphasizes that while transitional exceptions exist, the primary trend favors long-term usage, making it essential for investors to verify whether their property falls under the new restrictions before planning rental strategies.
5. What That Means for Investors: Yield, Strategy and Compliance
The prohibition of short-term rentals significantly affects investment returns and strategy:
- Reduced yield if investors previously relied on Airbnb income
- Long-term rentals offer steadier but generally lower returns
- Compliance becomes critical to avoid fines or visa issues
- Diversifying property investments or adjusting strategies can mitigate risk
Investors must weigh the trade-off between income potential and legal compliance when planning future acquisitions or managing current holdings.
6. Legal Alternatives: Long‑Term Rentals, Personal Use or Separate Properties
Despite restrictions, several legal paths remain for Golden Visa investors:
- Renting the property on a long-term lease
- Using the property for personal residence or family use
- Purchasing additional properties not tied to the Golden Visa for short-term rentals
- Investing under a commercial or tourism license where permitted
Consulting with legal advisors (e.g., Machas & Partners) ensures that investors’ strategies align with both local law and Golden Visa requirements.
7. 2025 STR Regulations: What They Mean — and Why They Don’t Help Golden Visa Investors
Starting October 2025, nationwide STR regulations introduce:
- Safety and quality standards for rental properties
- Mandatory tourism licenses and compliance protocols
- Registration and monitoring for short-term rentals
However, these regulations do not override the Golden Visa-specific STR ban (Elxis – At Home in Greece). Investors must continue to treat their Golden Visa properties as subject to stricter rules than general rental properties.
FAQs
Can I use Airbnb if I bought before 2024?
Some pre-2024 properties may qualify for a transitional period, but most investors are advised to switch to long-term rentals to remain compliant.
If I rent long-term, will earnings still count for Golden Visa renewals?
Yes. Income from long-term rentals is generally acceptable and does not jeopardize Golden Visa renewal eligibility.
What if I own a second property not connected to Golden Visa — can I Airbnb that one?
Yes. Properties not tied to a Golden Visa are not subject to the short-term rental ban and can be listed on Airbnb or similar platforms, provided local tourism and safety regulations are followed.