Beginning April 1, 2026, new legislation in Greece will require all rent payments to be made through bank accounts, eliminating the incentives previously available for cash transactions. This will affect tenants who currently receive a 'gift' of one month's rent annually and any state support or allowances related to rental agreements. Those making cash payments will no longer qualify for these benefits, thereby increasing their overall rental costs.

Property owners who continue to collect rent in cash will lose a 5% income tax deduction on rental income, which may lead to higher tax liabilities. This shift in policy targets a significant number of tenants and landlords across Greece, fundamentally changing the rental landscape and financial interactions in housing. As this regulation is implemented, many will need to adapt to the new monetary system for handling rent payments.

A ministerial decision is expected to be released in the coming days, clarifying the details for conducting rent transactions through banks. This will include specific instructions on how to record bank account information (IBAN) in existing rental agreements and guidelines for updating leases from April 1 onward. The transition to bank transactions aims to enhance transparency and tracking of rental payments in the Greek real estate market.