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The property owners in Greece switched to long-term rentals

by Ella on May 15, 2020
The property owners in Greece switched to long-term rentals

The property owners in Greece switched from short-term to long-term leases, the Russian Athens portal reports.

The coronavirus pandemic dealt a severe blow to short-term leases; 1,900 apartments and houses were removed from the electronic platform. A negative “background” began to take shape in late April when most of the Airbnb facilities were idle due to border closures and quarantines. Landlords, so as not to lose income, decided to urgently return to the “traditional” long-term lease. During quarantine, the cancellation of armor ranged from 40% to 80%. According to Airbnb analysts, May and June are considered lost months.

The “escape” from platforms like Airbnb was also confirmed by data released a few days ago by Spitogatos. The study showed that the number of properties offered for long-term lease increased by 44%. In addition, despite the pandemic, 85% of those looking to rent a house said they were still looking.

Konstantinos Caravias, a member of the Tourism Committee of Ithaki Municipality, explained: “In order to stop experiencing difficulties and pay for the property (bills, etc.) from your own pocket, you can rent objects for medium-term rent, for example, to health workers, for 6 or 8 months. During this time, the owner of the apartment will understand whether it suits him, whether it is worth returning for a long-term lease or staying for a short-term one. ”

According to Mr. Caravias, AirBnB property owners are highly dependent on foreign tourists. “I would say that at least 65% of the guests of our country who use real estate for short-term rental are foreigners,” he said.

Source: HomesOverseas.ru