{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Short term rentals puts pressure on housing market in Athens' data-url='/boclips/videos/5c54d5fcd8eafeecae1fffd3' data-video-url='/boclips/videos/5c54d5fcd8eafeecae1fffd3' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nShort term rentals puts pressure on housing market in Athens\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eLEADIN:              Autumn may well be here, but tourism in Athens is booming and there's a growing appetite for short term holiday rentals let through websites like Airbnb.              Developers say the rise in short term lets is...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eLEADIN:\u003cbr/\u003e              Autumn may well be here, but tourism in Athens is booming and there's a growing appetite for short term holiday rentals let through websites like Airbnb.\u003cbr/\u003e              Developers say the rise in short term lets is giving a much-needed boost to the economy, but the rise in rental prices is making it harder for locals to live in the city centre. \u003cbr/\u003e              STORYLINE \u003cbr/\u003e              2017 is set to be a record year for Greek tourism, with the Acropolis in Athens top of the list for many.\u003cbr/\u003e              Greece is expecting 30 million overseas visitors this year, according to Tourism Minister Elena Kountoura.\u003cbr/\u003e              And all these tourists need somewhere to stay. \u003cbr/\u003e              Instead of booking a room in a hotel, many are choosing to stay in apartments let through short term rental platforms like Airbnb.\u003cbr/\u003e              But what started out as individuals renting out their own homes, or rooms, is becoming big business. \u003cbr/\u003e              2017 is also Greece's eighth year of economic crisis. \u003cbr/\u003e              In this country of less than 11 million, there is an official unemployment rate of 22.5 percent, according to March 2017 Eurostat figures. \u003cbr/\u003e              Athens property prices have fallen more than 40 percent since 2007, according to the Bank of Greece. \u003cbr/\u003e              That's left a lot of properties unsold and many development companies in trouble. \u003cbr/\u003e              Demetris Colocassides is managing director of Greek Resort Developments, which was founded in 2002 to build and manage real estate. \u003cbr/\u003e              He says the company was struggling to sell its city centre apartments, when a friend suggested that he advertise the properties as short term rentals instead. \u003cbr/\u003e              \"It started as a joke. We said why not, let's try it. We did. It was going very very well. So slowly slowly we started moving on and we put more apartments into the system. And we started looking for old apartments, we took them, we renovated them and we put them into the rental business.\"\u003cbr/\u003e              Now the company is renting dozens of properties in Athens through Airbnb and is finishing renovations in more, to be put into the short term rental market in the next couple of months. \u003cbr/\u003e              Building activity in Greece has dwindled from almost 80,000 building permits in 2007 down to just over 10,000 in 2016, according to the Greek national statistics authority. \u003cbr/\u003e              Colocassides says the growth in the short term rental sector is giving a boost to the whole market. \u003cbr/\u003e              \"The whole market works from this. It is not only the rental and my business. The whole construction sector is working out of this. Lawyers, solicitors, out of the new contracts that are made, employees, for the cleaning, for the servicing,\" he says.\u003cbr/\u003e              In Koukaki, a central Athens neighbourhood only a few minutes' walk from the Acropolis, many properties are listed on Airbnb. \u003cbr/\u003e              Eleni Thoma, a 35-year-old former medical laboratory technician is now in charge of Sales and Reservations at a neoclassical building converted into small apartments for short-term renting through Airbnb and other platforms. \u003cbr/\u003e              \"I was without a job for about one and a half years. I found this job through a friend of mine. And that was a chance for me to have a steady job again. For sure, (I did it for) the money and to rejoin the labour market,\" she says.\u003cbr/\u003e              But Thoma says finding a flat to rent long term in central Athens, especially close to tourist attractions, is a big challenge.\u003cbr/\u003e              \"It is much more difficult for someone to find a flat to rent per month as used to be the norm. I too was looking to find an apartment closer to my work, to move from my rented flat in Glyfada (an upscale Athens suburb southeast of the city) and rent something around here. It was very difficult because most flats were either very expensive or are already rented, short term, through Airbnb.\"\u003cbr/\u003e              Miltos Epithimiadis, Founder and CEO of real estate company Nova International in Greece says the short term rental sector is growing. \u003cbr/\u003e              \"In Greece we have discovered the platforms for short term letting apartments in the past two years. From this process, the pool of available residences in the city centre has grown. This means that a lot of previously empty and abandoned apartments have been renovated and are being offered as an alternative tourist product.\" \u003cbr/\u003e              While the boost in short term rentals is good news for the property market, it is not a positive development for everyone.\u003cbr/\u003e              \"AirBnB and HomeAway and all these platforms for (short term) letting have provided a new source of income for many people, property owners, whose apartments were empty. On the other hand, we have the problem that, given that salaries and incomes in general, are still shrinking, rising rent prices are a very big problem for the Greek residents in the city centre,\" says Epithimiadis. \u003cbr/\u003e              According to Inside Airbnb, a data gathering website run by a community activist in the US, Athens has 5,127 listings.\u003cbr/\u003e              The Koukaki and Makrigianni neighbourhoods alone have 343 listings. About 49 percent of the listings are multi-listings, which means that an owner has two or more properties. \u003cbr/\u003e              In a written statement to the Associated Press, Airbnb said: \u003cbr/\u003e              \"Airbnb is transforming how guests experience Greece and is opening new economic opportunities for local families and their communities. Most Airbnb hosts share the home in which they live and use the money they earn to help pay their bills or stay in their homes. The typical Greek hosts share their space for less than 3 nights a month, while make an additional yearly 2,800 US dollars. We want to be good partners to everyone in the country and support the responsible and sustainable growth of innovative forms of tourism.\"\u003cbr/\u003e              Ahmad Saiehin, a tourist from Singapore, says he thinks short term rentals put money in the hands of local people.\u003cbr/\u003e              \"I think bringing the money back to the local people is pretty much good in that sense because it brings back, it stimulates the local economy, and generates more wealth for the city instead of contributing to a major business,\" he says. \u003cbr/\u003e              Madison Irias, from Honduras, says she likes the more personal experience that an Airbnb rental can offer. \u003cbr/\u003e              \"This is like my third time I used AirBnb, and first time here in Athens. And the host people were really great, they really help you a lot. Not just with the tips for the city but they also help you a lot with what you should get to know. And they are really helpful in regards of the apartment, and they are really there for you. So that's what I really like more then a hotel I guess. The contact, the real contact with the person.\" \u003cbr/\u003e              But Alexandros Vassilikos, President of the Athens-Attica and Saronic Gulf Islands Hoteliers' Association says that the short term rental market in Athens is becoming increasingly focused on larger companies. \u003cbr/\u003e              \"It is very important to realise that we are not speaking about sharing economy anymore. We are speaking about organised companies that rent tens or hundreds of flats that make direct competition to hotels without having any specifications by the government, whether it's simple things as does a flat have to have a fire extinguisher? Nobody says this today.\" \u003cbr/\u003e              Airbnb and short term rentals are still relatively new in Greece and the government is still adapting its legislation to the burgeoning holiday rental market.\u003cbr/\u003e            \u003cbr/\u003e\u003cbr/\u003e              Athens, Greece - 11 August 2017\u003cbr/\u003e              1. Wide pan of Athens \u003cbr/\u003e              2. Close of the Parthenon temple\u003cbr/\u003e              \u003cbr/\u003e              Athens, Greece - 28 August 2017\u003cbr/\u003e              3. Various exteriors of building where Greek Resorts Developments has three short term let apartments\u003cbr/\u003e              4. Managing director of Greek Resort Developments Demetris Colocassides entering apartment\u003cbr/\u003e              5. Wide of apartment sitting area \u003cbr/\u003e              6. SOUNDBITE (English) Demetris Colocassides, managing director of Greek Resort Developments: \u003cbr/\u003e              \"It started as a joke. We said why not, let's try it. We did. It was going very very well. So slowly slowly we started moving on and we put more apartments into the system. And we started looking for old apartments, we took them, we renovated them and we put them into the rental business.\"\u003cbr/\u003e              7. Wide of apartment buildings in city\u003cbr/\u003e              8. SOUNDBITE (English) Demetris Colocassides, managing director of Greek Resort Developments:\u003cbr/\u003e              \"The whole market works from this. It is not only the rental and my business. The whole construction sector is working out of this. Lawyers, solicitors, out of the new contracts that are made, employees, for the cleaning, for the servicing.\"\u003cbr/\u003e              \u003cbr/\u003e              Athens, Greece - 11 August 2017\u003cbr/\u003e              9. Various of Eleni Thoma entering building where she works and setting up at her desk\u003cbr/\u003e              10. Various of computer screen showing rental website \u003cbr/\u003e              11. SOUNDBITE (Greek) Eleni Thoma, in charge of sales and reservations at Athens Residence Apartments:\u003cbr/\u003e              \"I was without a job for about one and a half years. I found this job through a friend of mine. And that was a chance for me to have a steady job again. For sure, (I did it for) the money and to rejoin the labour market.\"\u003cbr/\u003e              12. Wide tilt down of apartment building \u003cbr/\u003e              13. Various of Thoma going to one of the rooms and preparing it\u003cbr/\u003e              14. SOUNDBITE (Greek) Eleni Thoma, in charge of sales and reservations at Athens Residence Apartments:\u003cbr/\u003e              \"It is much more difficult for someone to find a flat to rent per month as used to be the norm. I too was looking to find an apartment closer to my work, to move from my rented flat in Glyfada (an upscale Athens suburb southeast of the city) and rent something around here. It was very difficult because most flats were either very expensive or are already rented, short-term, through Airbnb.\"\u003cbr/\u003e              \u003cbr/\u003e              Athens, Greece - 14 August 2017\u003cbr/\u003e              15. Various of Miltos Epithimiadis, Founder and CEO of real estate company Nova International in Greece at his desk\u003cbr/\u003e              16. SOUNDBITE (Greek) Miltos Epithimiadis, Founder and CEO of Nova International in Greece:\u003cbr/\u003e              \"In Greece we have discovered the platforms for short term letting apartments in the past two years. From this process, the pool of available residences in the city centre has grown. This means that a lot of previously empty and abandoned apartments have been renovated and are being offered as an alternative tourist product.\"\u003cbr/\u003e              17. Close up of Miltos Epithimiadis, browsing his companies website \u003cbr/\u003e              18. SOUNDBITE (Greek) Miltos Epithimiadis, Founder and CEO of Nova International in Greece:\u003cbr/\u003e              \"AirBnB and HomeAway and all these platforms for (short term) letting have provided a new source of income for many people, property owners, whose apartments were empty. On the other hand, we have the problem that, given that salaries and incomes in general, are still shrinking, rising rent prices are a very big problem for the Greek residents in the city centre.\"\u003cbr/\u003e              \u003cbr/\u003e              Athens, Greece - 15 August 2017\u003cbr/\u003e              19. Medium of tourists walking close to the Acropolis\u003cbr/\u003e              \u003cbr/\u003e              Athens, Greece - 28 August 2017\u003cbr/\u003e              20. Medium shot of Ahmad Saiehin from Singapore and his friend browsing at a souvenir shop\u003cbr/\u003e              21. SOUNDBITE (English) Ahmad Saiehin, tourist from Singapore:\u003cbr/\u003e              \"I think bringing the money back to the local people is pretty much good in that sense because it brings back, it stimulates the local economy, and generates more wealth for the city instead of contributing to a major business.\"\u003cbr/\u003e              22. Various of Madison Irias from Honduras browsing at a tourist shop\u003cbr/\u003e              23. SOUNDBITE (English) Madison Irias, tourist from Honduras:\u003cbr/\u003e              \"This is like my third time I used AirBnb, and first time here in Athens. And the host people were really great, they really help you a lot. Not just with the tips for the city but they also help you a lot with what you should get to know. And they are really helpful in regards of the apartment, and they are really there for you. So that's what I really like more then a hotel I guess. The contact, the real contact with the person.\" \u003cbr/\u003e              \u003cbr/\u003e              Athens, Greece - 10 August 2017\u003cbr/\u003e              24. Various of Alexandros Vassilikos, President of the Athens-Attica and Argosaronikon Hoteliers Association in his office \u003cbr/\u003e              25. SOUNDBITE (English) Alexandros Vassilikos, President of the Athens-Attica and Argosaronikon Hoteliers Association:\u003cbr/\u003e              \"It is very important to realise that we are not speaking about sharing economy anymore. We are speaking about organised companies that rent tens or hundreds of flats that make direct competition to hotels without having any specifications by the government, whether it's simple things as does a flat have to have a fire extinguisher? Nobody says this today.\"\u003cbr/\u003e              \u003cbr/\u003e              Athens, Greece - 11 August 2017 \u003cbr/\u003e              26. Various of Acropolis and Parthenon temple with tourists \u003cbr/\u003e              27. 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