Leasing of Real Property in Greece

Indicatively, the main elements and general rules that a tenant should take into consideration when renting real property, are the following:

1. In residential tenancy, the amount of the rent to be paid is freely determined and is binding to both parties.
2. The term of lease of a permanent residence remains in force for at least three (3) years, even if the rental agreement makes explicit reference to a shorter period of time or the lease duration remains indeterminate.
3. In case the lease duration is set at less than three years and the application of rent adjustment has not been agreed, then for the remaining period until the expiration of three years the tendered leasing fee is subject to an annual indexation of up to seventy- five per cent (75%) of the living cost index of the past twelve (12) months as defined by the Hellenic Statistical Authority.
4. The landlord is obligated to hand over the property to the tenant and maintain it in the appropriate condition for the agreed use throughout the lease term.
5. Rent deposits are only permitted for the current month.
6. The security deposit cannot exceed two (2) months’ worth of rent.
7. The owner bears any burden of property ownership of the lease.
8. The landlord reimburses the tenant for all necessary property’s expenses.
9. The tenant is not responsible for the cost of dealing with any damages or alterations caused by the agreed use.
10. The delay in payment for shared expenses brings the same consequences as in case of rent arrears.
11. A fixed term tenancy ends as soon as the expiry date has lapsed, without any other further action been necessary. As a matter of fact, a tenancy for a fixed term is deemed renewed for an indefinite period of time, when, after the expiry of the agreed period, the tenant continues to occupy the real property without any objection by the owner.
12. After the lapse of three years an indefinite term tenancy, ends following the termination of the agreement by either owner or tenant.
13. Upon the expiry of the term the tenant is required to hand over the property in the same condition in which he received it.
14. Since 1.1.2008 the stamp has been repealed (Law 3522/06 par. 4 of Article 3, Official Gazette 276 / B / 06).                                                                                                                                     Attention: the repeal applies only in case of rental housing, while the stamp for commercial/professional leases is still 3,6%.