Greek government to help people and businesses to pay rent
Due to the economic instability and insecurity caused by the COVID-19 epidemic, the Greek government has devised special measures to help people who are struggling financially, including tenants who can no longer afford to pay rent.
Rent for Greek individuals and companies severely affected by the economic downturn will be reduced by 40%, while a force majeure clause in negotiations between landlords and tenants who are unable to pay their rent will be introduced, to protect the latter.
Notarial agreements, cadastre updates, and financing plans from banks in the sphere of real estate have been put on hold until further notice, due partly to the closure of land registries, cadastre offices, and most notary offices.
Landlords and property investors are also set to benefit from the measures because the sector has been classified as “hit by the crisis” and is therefore eligible for bailout programmes. All real estate related taxes are postponed as well.
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