The housing crisis engulfs Greece - What has caused the significant increase in rents?
Greeks continue to face serious problems finding housing, as rents in the country are becoming increasingly “unaffordable.” Rental prices, although stable, still remain high, with Greece registering a negative ranking in Europe in housing costs.
The housing problem is constantly worsening, mainly affecting vulnerable social groups, young workers and families. The cost of rent remains "a burden" for most tenants who spend a large part of their salary to cover rent.
According to data available from ELSTAT, the average monthly rent in Greece fluctuates around 440 euros in April 2025. According to real estate offices, for Greeks, prices are too high because salaries are very low in Greece, and the salary is not in line with the prices that currently exist.
At the same time, Greece is a very economical country for foreign investors, as they are more interested in renting or buying. Greeks are having difficulty finding a home as there is no area that offers affordable costs.
Currently, there are many properties that are empty and completely closed. In fact, these are estimated at approximately 300,000. Furthermore, according to a recent survey by Kapa Research on behalf of POMIDA, almost one in three owners estimate that it is not profitable to have properties available for rent today. 12% of owners currently own an empty house.
In 7% of cases, the house has been empty for more than 5 years. When asked why the house is empty, 54% answer that it needs renovation, the cost of which in most cases (61%) is estimated to be between 5,000 and 20,000 euros. 12% say that renting is not profitable due to taxation and 10% that they do not trust interested tenants.
Only 1% cite future tourism development as a reason. Despite the difficulties, 74% of Greeks consider buying a home a good investment, while only 25% prefer renting as a more flexible solution. 52% of renters say they pay more than 30% of their income on rent.
68% believe rents are unaffordable based on current wages, while 60% expect further increases in rents and house prices within the next five years. The first quarter of 2025 ended with significant increases in rental property prices across the country.
Your opinion
The labor market favors men/ Gender gap in the country, high difference between employment of both sexes
In 2024, Albania ranks among the countries with the deepest gender gap in employment in Europe. According to Eurostat data, the difference between the......
Holiday accommodation increases in price by 3-5% - In Dhërmi, an average of 95 euros/night, Ksamil in a slight decrease
On the eve of the summer tourist season, the prices of apartments for daily rent in the most frequented tourist areas, such as Dhërmi, Shëngjin, Himara and......
Pensions, record income - 600 million euros paid by employees, an additional 65 million euros
Despite the low ratio between contributors and beneficiaries, the pension scheme has begun to improve. Official data from the Ministry of Finance show that......
EBRD and BoA present the 2024-25 Transition Report on industrial policy!
The European Bank for Reconstruction and Development (EBRD) Transition Report 2024-2025, regarding industrial policy, was presented today. The main......
Muzhaqi: Innovative projects in financial education to empower young people
Students from the "Dhaskal Todri" school and the "Tirana Technical and Economic School" held the closing activity of the "Fibsat" project. Thanks to this......
Volcanic soil that replaces water - The solution for Jordan, which is the second country in the world for water shortage
In Jordan's Mafraq region, located north of the capital Amman, workers and machines processed volcanic rocks, crushing them into sand, a key material used in......
Those who do not pay taxes will have their cars impounded - Taxes, appeal to businesses: Pay your debts on time!
Taxpayers who do not pay their obligations on time risk having their personal or business vehicles impounded. The Tax Administration has signed an agreement......
January-April, 32.8% of new vehicles are electric - DPSHTRR: The fleet of green vehicles increased by 56%
Green vehicles continue to increase their dominance in road traffic in Albania. According to the General Directorate of Road Transport Services, for the......
