Even though analysts say that the move won’t have much effect on the market
Raptors return on investment is the real dealMLS Cup the winning goal in record-breaking season for soccer in North AmericaNorth America’s oldest sport catches momentum in new professional localesCanadian Football League fanatics fuel financialsCanada’s Davis Cup team finding loveA sign inside the now-shuttered Tintinnabulum shop reads, “Beautiful little stores are beautifully shut down by greedy owners and Airbnb.
With affordable housing becoming harder to find, politicians have been casting about for any opportunities to ease pressure on the market. One target has been Greece’s “golden visa” program, which since 2014 has offered residency to foreigners who invest at least €250,000 in property in the country — a relative bargain compared to countries like Spain and the Netherlands, where similar programs cost multiples more.
While the government says the plan will discourage foreign investors from buying up desirable areas, many argue that the changes won’t do much to rein in housing costs. Against a backdrop of heated political debate, Greece’s government is taking steps to ease the crisis. Starting this year, owners are obliged to set up a business and pay a tax rate of 13%, the same as hotels, if they rent at least three properties short-term. And as of February, Greece’s government will pay 40% of renovation costs, or up to €10,000, on apartments whose owners are willing to rent them long-term.
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