The question comes up often, and it is a legitimate one. Since the beginning of 2025, the rules for short-term rentals in Athens have changed. Restrictions have been introduced, procedures have been tightened, and some neighborhoods are now subject to a moratorium on new registrations. Does this mean that investing in an Airbnb-type property in Athens no longer makes sense? Not really. But it must be done with eyes wide open, and with a strategy adapted to the reality of 2026.
Market Figures: Demand Remains Strong
Let’s start with the fundamentals, because they matter.
Greece welcomed 37.98 million tourists in 2025, a 5.6% increase year-on-year according to official Greek government data, setting a new historic record. Athens is one of the main beneficiaries of this influx: the capital has become a destination in its own right, not just a stopover on the way to the islands.
As for the short-term rental market, Airbtics data, updated in March 2026, paints a clear picture:
Annual median revenue for an Airbnb property in Athens: €22,000
Average occupancy rate: 71%
Average nightly rate: €81
Year-on-year revenue growth: +8.2%
Number of active listings: 12,626, up 19% year-on-year
Share of international travelers: 77.9%
These figures are medians: in other words, half of the properties perform better, and half perform less well. They provide a realistic picture of a market that is not collapsing. However, the conditions for entering this market have changed. Ignoring these changes would be a mistake.
What Has Changed: The New Rules You Absolutely Need to Know
The Moratorium on New Registrations in Central Athens
This is the flagship measure. Since January 1, 2025, and until at least December 31, 2026, the Greek government has suspended the issuing of new short-term rental licenses in the 1st, 2nd, and 3rd municipal districts of Athens. The affected areas include, among others: Plaka, Monastiraki, Psyrri, Koukaki, Exarchia, Kypseli, Metaxourgeio, Gazi, Thiseio, and part of Pagrati.
This moratorium does not affect properties that were already registered before January 1, 2025, which can continue to operate normally. It also does not apply to long-term rentals, meaning contracts of more than 60 days, nor to neighborhoods located outside these central districts.
In practical terms: if you buy an apartment today in one of these neighborhoods with the intention of renting it on Airbnb, you will not be able to obtain a new authorization while the moratorium remains in force.
The AMA: A Mandatory Number for Every Property in Greece
Throughout Greece, every short-term rental must be registered with the Greek tax authority, AADE, and must receive an AMA number, short for Arithmos Mitroou Akiniton. This number must appear on every listing published on Airbnb, Booking.com, Vrbo, or any other platform. Listings without an AMA are now removed by the platforms, and the authorities carry out cross-checks with booking data.
Stricter Safety Standards Since October 2025
Since October 1, 2025, short-term rental properties must comply with mandatory minimum standards: civil liability insurance, certified electrical compliance, fire extinguishers, smoke detectors, and clearly marked emergency exits. Inspections are carried out by the Ministry of Tourism and the IAPR. In case of non-compliance, fines range from €5,000 to €20,000.
A Two-Speed Market: What This Means for Investors
The result of these measures is the emergence of a two-tier market in central Athens.
On the one hand, there are apartments that already have a valid AMA in areas subject to the moratorium. These properties are trading at a 10% to 20% premium compared with similar properties without an AMA, because the buyer inherits the right to continue operating as a short-term rental in a neighborhood where new authorizations are blocked. This is a real advantage, and its value could increase further if the moratorium is extended beyond 2026.
On the other hand, there are areas not subject to the moratorium, where new registrations remain entirely possible:
The Athens Riviera, including Glyfada, Voula, Vouliagmeni, Kavouri, and Varkiza: a premium area with strong international demand, supported by the impact of the nearby Ellinikon project.
The northern suburbs, including Kifisia, Marousi, and Chalandri: attractive to professionals and expatriate families.
All Greek islands and mainland regions outside Athens, where no equivalent restriction currently applies.
For investors who want to start a seasonal rental activity from scratch, these are currently the most relevant areas to target.
What Kind of Return Can You Realistically Expect in 2026?
Seasonal Rentals: The Highest Yield, Under Certain Conditions
In well-located and properly equipped neighborhoods, the gross yield of an Airbnb rental in Athens can reach 7% to 12%, according to market data. The median annual revenue of €22,000 for an average property represents a significantly higher level than what is generated in most major French cities.
However, real costs must be deducted:
Property management fees, usually 15% to 25% of revenue if you use a professional, which is strongly recommended if you live abroad. Please note that no expenses are deductible. Rental tax is paid on turnover, not on profit.
Maintenance between stays
Insurance
ENFIA property tax
Rental income tax and tourist tax
The net yield is more moderate, but it generally remains competitive compared with other European alternatives. To fully understand the tax obligations, see our guide to taxation in Greece.
Long-Term Rentals: More Peace of Mind, Lower Yield
A standard lease in Greece, lasting three years and renewable, offers a gross yield of 5% to 7% in Athens, with much simpler management. This is the preferred strategy for investors who do not want to deal with the operational constraints of seasonal rentals, or who purchase in an area subject to the moratorium.
The Mixed Strategy: The Best of Both Worlds
This is the approach adopted by many Athens property owners: seasonal rentals from May to October, followed by a standard lease or medium-term stays during the rest of the year. It makes it possible to maximize yield while limiting vacancy periods. To learn more about the possible models, our guide to rental investment in Greece explains each option in detail.
So, Is It Still Worth It?
The honest answer: yes, but under certain conditions.
The fundamentals are there: growing tourism, still-accessible property prices, yields higher than in many European capitals… but the days when you could buy any apartment in the center and list it on Airbnb the next day without formalities are over.
It is worth it if:
You buy outside the areas subject to the moratorium, such as the Riviera, northern suburbs, or islands.
You buy a property that is already registered with a valid AMA in the center.
You surround yourself with local professionals capable of handling compliance, declarations, and day-to-day management.
You have a medium- to long-term vision, not just a focus on immediate yield.
It is risky if:
You buy in an area under moratorium without an existing AMA, hoping that the restrictions will be lifted quickly.
You manage the property from abroad without a reliable local representative.
You ignore the compliance obligations imposed since October 2025.
Getting the Right Support: The Non-Negotiable Condition
At Mobilia, we have been supporting foreign investors in the Athens market for more than 20 years. We know how to identify properties that already have their AMA, pinpoint neighborhoods where new registrations are still possible, and help you build a rental strategy aligned with your profile and budget.
Our property management department handles your property from A to Z: listing publication, tenant or guest selection, rent collection, tax declarations, and coordination with local service providers. You may be in Paris, Brussels, or Geneva, while your property in Athens keeps running.
For a complete overview of the neighborhoods where it makes sense to invest in Athens today, our full guide to investing in an apartment in Athens in 2026 is a good starting point.
Are you considering an Airbnb investment in Athens and would you like to assess current opportunities with local experts? Contact the Mobilia team for a first free, no-obligation discussion. We are here to help you invest intelligently and with peace of mind.
FAQ
Can you still rent on Airbnb in central Athens in 2026?
Properties that were already registered before January 1, 2025, can continue to operate normally. However, no new licenses are being issued in the central districts until at least the end of 2026.
What gross return can you expect from an Airbnb in Athens?
The annual median revenue for an Airbnb property in Athens is €22,000, with an occupancy rate of 71%. Gross yields range from 7% to 12% depending on the location and quality of the property.
What is the AMA number, and is it mandatory for short-term rentals in Greece?
The AMA number is an official identifier issued by the Greek tax authority and is mandatory for all short-term rentals. Without this number, listings are removed from platforms such as Airbnb or Booking.com.