Greece's alternative accommodation boom

Alternative holiday accommodation is enjoying a boom in Greece, as locals turn to renting out their empty homes in the face of a struggling real estate market and strong tourism industry.

Indeed, Greece's visitor numbers continue to climb, as interest from overseas stays strong. While some buyers are snapping up low-priced bargains, though, some homeowners have struggled to sell their properties. Also faced with property taxes (ENFIA), a growing number are renting out their homes as illegal lodgings.

Indeed, a turnover of 1 billion euros was made in Greece from the leasing of alternative-styled lodgings, reports Protothema. With many owning a second home, there are an estimated 2 million vacant properties ready to be let out to tourists.