IMF Urges Greece to Tax Empty Homes and Boost Rental Supply

Saturday, 30 May 2026/Source: Google News/1 min read

The International Monetary Fund has recommended that Greece introduce a tax on vacant residential properties. The proposal targets the large number of homes left empty across the country, including in Crete, and aims to bring more housing stock onto the rental and sales market. The IMF argues this measure could help ease housing shortages and reduce pressure on accommodation prices in tourist-heavy areas. For visitors, this is relevant context: short-term rental supply in Crete has tightened in recent years, contributing to rising costs for holiday accommodation. If the Greek government acts on the recommendation, more properties could eventually enter the market, potentially stabilizing or lowering rental prices in popular destinations such as Heraklion, Chania, and Rethymno. No implementation timeline has been announced yet.