Owners of luxury homes and villas in Greece can earn €100 million by renting out their property this summer season. Since many of them have officially registered their activities, upcoming budget revenues are estimated at €20 million, according to ee24.com citing ekathimerini.com.
Greek National Tourism Organization initially planned to issue 500 permits for lease of luxury real estate, but the number of people willing to earn on the property exceeded all expectations. As a result, 1,800 licences have been issued, and this number is increasing every day. Only in Crete 389 owners have a right to rent out their super villas, compared with 35 owners last year.
A total of 14,000 tourists can accommodate in those 1,800 luxury villas. The average rental price of such housing for the entire season is about €50 thousand, which is comparable to the price of small apartments in Greece.