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Pressure builds for obligatory reduction in rents in areas hit hardest by coronavirus

A significant spike in confirmed coronavirus infections in Greece over the past two months, compared to the number in the country in the spring, in tandem with a tepid response by property owners to a call for a voluntary reduction in monthly rents by at least 30 percent has resurfaced calls for an obligatory cut in rates.

Reports state that the government is considering proposals to oblige landlords, especially in the retail sector, to cut monthly leases, not only in areas declared in a “level 4” emergency, but also in “level 3” areas.

An obligatory reduction of 40 percent in rents comprises a primary demand by the country’s business world.