In the radical left-leaning Athens neighbourhood of Exarchia, long known for its community solidarity, residents and activists are pushing back against a wave of property acquisitions by foreign investors. According to local architects and campaigners who have been digitally mapping foreign-owned flats, short-term rentals are rapidly overtaking traditional housing, pricing out long-term residents and erasing the area's distinct cultural identity.

The influx of external capital has transformed residential apartment blocks into de facto hotels, evidenced by keypads for temporary guests replacing traditional resident nameplates and anti-gentrification slogans painted across building facades. Critics argue that the aggressive expansion of tourism-driven housing is displacing families, low-income residents, and students, while dismantling local community structures that took decades to build.

The European regime in Athens purportedly attempts to cool the overheated property market through regulatory adjustments, such as planned tax increases for non-EU property buyers and an extended freeze on short-term rental licenses in the city centre. However, local residents remain deeply skeptical about the effectiveness of these measures, asserting that the commercialisation of their neighbourhoods has already caused irreversible damage.

Source: www.aljazeera.com