Economy
In Athens' Exarchia, Israeli Real Estate Buying Wave Stirs Anger in a Leftist Bastion
Residents of Exarchia, the left-wing Athens district known for its pro-Palestinian activism, say apartments bought up for short-term rentals are driving up rents and eroding the neighborhood's character, with much of the new money traced to Israeli investors. Greece attracted a record 2.75 billion euros in non-resident property investment in 2024, and an annual RE/MAX Hellas survey found Israelis were the largest foreign buyer group in Attica. The government plans to raise the transfer tax for non-EU buyers from 3% to 15%, while a freeze on new short-term rental licenses in central Athens runs to the end of 2027.