Starting from April 1, 2026, Greece will introduce a rule that directly affects the rental property market. All rent payments must be made exclusively via bank transfers. Cash payments will no longer be legally recognized. Funds must be transferred to the bank account of the property owner specified in the lease agreement. Payments to third parties will not be considered valid.

🏠 Until now, cash payments have been widely used in the rental market, especially in long-term rentals and private agreements. The new rule effectively eliminates this practice. After the changes take effect, the basic conditions are as follows:

— rent must be paid through bank transfers only;
— each payment must be linked to a lease agreement;
— the recipient must be the property owner;
— cash payments are not considered official proof of payment.

📊 The key aspect of the reform is not the restriction itself, but the consequences of non-compliance.

If a property owner continues to accept cash payments, they risk losing the 5% tax deduction, which applies only to income that is properly documented and confirmed through bank transfers.

Tenants, in turn, may lose access to government subsidies and compensation, as these benefits are granted only when payments are verifiable. Without a bank transfer, it is not possible to prove that rent has been paid.

⚙️ The main objective of the reform is to reduce the shadow segment of the rental market. In Southern Europe, a significant share of rental payments has traditionally been made outside official reporting, and Greece is no exception. Cash transactions have allowed landlords to underreport rental income and declare lower rents. Moving to bank transfers makes all payments transparent and aligned with tax reporting.

📈 Increased financial transparency is expected to lead to higher officially declared income and a more transparent market overall. This is particularly important for foreign investors, as Greece remains a popular destination for real estate investment.