Effective for another year the 3% ceiling in professional lease agreements
Effective for another year the 3% ceiling in professional lease agreements
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Effective for another year the 3% ceiling in professional lease agreements

RE+D magazine
06.12.2022

A 3% ceiling on professional leases will be maintained for another year.

Prime Minister Kyriakos Mitsotakis has recently (5/12) paid a visit to Tripoli where he participated in a meeting with the other ministers, local government and representatives of agencies for the Integrated Development Plan of the Peloponnese Region 2030. During his address he announced the extension of the ceiling in professional lease agreements

According to what is valid ta date from 1.01.2022 until the 31st. 12.2022, an adjustment of the rent amounting to a maximum of three percent (3%) is allowed, in relation to the rent of the year 2021, for commercial and professional real estate leases.

This arrangement, according to the government, addressed the issue of rent adjustments during a period of economic turmoil due to the geopolitical crisis in Ukraine and its significant, extraordinary and unforeseen consequences on the cost of operating businesses.