The housing in our country for the majority of citizens, both for the owners who have acquired a loan home and the tenants who pay much of their salary for rent, remains a big problem.

The lack of balance between increased demand and limited supply has led to a significant deterioration in housing in Greece, as a new economic study by Alpha Bank.

According to the study, much of the citizens find it difficult to buy or rent a home without having a disproportionate part of his income. Treatment requires combined interventions in offer, upgrading of stock and targeted social policies.

The issue of affordable home in Greece as the highest speed at which real estate prices are moving compared to the disposable income of households reflects the deterioration of the conditions of access to accessible home in our country.
The study examines in depth the problem of accessible housing in Greece, through social, economic and historical perspective. In addition to the basic social good, the residence has been a key means of saving and investing for households in Greece, due to the long lack of other investment options and frequent crises.

Historical Framework and Evolution

Greek housing policy was based mainly on private initiative, through consideration and family aid, without extensive state intervention. Since 1994, and especially after entering the eurozone (2001), mortgage lending began to replace savings, contributing to increasing demand for homes. This trend was reinforced until the 2008 crisis, when lending was drastically reduced.

Demand for Homes: Factors and dynamic

  • Increasing Foreign Investment (LCA): Real estate investments reached € 2.8 billion in 2024, mainly affecting high -demand areas.
  • Sharing Economy (Airbnb): Strengthened demand for housing for investment, limiting availability for long -term lease. • Telegraph & Change preferences: Demand for larger spaces and homes increased, especially from young people and families has increased. • Cultural preference for ownership: Despite the difficulties, 74% of Greeks consider the housing market a good investment, while only 25% prefer rental as a more flexible solution.

QED Field Research on behalf of Alpha Bank shows that 12% of Greeks are planning a home market over the next two years. Most are interested in mainstream residence and only 12% are targeting investment property. However, 54% consider the market unacceptable and 70% say rents are not affordable in relation to wages.

Housing Offer: Structural Problems and Developments

  • Stock aging: 64% of homes are over 30 years of age. Renovation is often financially impossible or delayed.
  • High construction costs: Increasing material and energy prices (especially in 2022) increased the overall cost of building new houses.
  • Limited construction activity (2010–2020): The crisis has drastically reduced new buildings. Although building permits have been increasing since 2016, supply is not sufficient to meet demand.
  • Short -term leases: Many homes are withdrawn from long -term rental, especially in tourist areas such as the South Aegean and Crete, leading to renting rents.
  • Empty houses: There are about 794,000 vacancies in Greece, mainly in urban centers. Their utilization is a possible solution to the offer problem.

Deviation between incomes and housing prices

The analysis shows that housing prices are increasing at a faster rate of income, making the home less and less accessible:

  • +13.9% increase in housing prices in 2023, and +8.7% in 2024, according to the Bank of Greece.
  • Available income increased at a slower rate: 8.1% in 2023 and 5.6% in 2024.
  • The income price index remains above the long -term average, indicating increasing pressure on accessibility.

Housing burden: an increasing weight

The financial burden of households for housing is now evident:

  • 42% of households with a mortgage loan spent more than 30% of their monthly income income.
  • 52% of tenants say they pay more than 30% of their income for their rent.
  • The burden reaches almost 60% for those who have an income of less than € 1,450.

Field Research: Citizens’ Voice – Concern and limited options, based on QED’s research on Alpha Bank:

  • 54% consider housing market today impossible,
  • 39% difficult.
  • 68% believe that rents are not accessible based on current wages.
  • 60% expect a further increase in rents and housing prices over the next five years.

In spite of the difficulties, Home -owned remains a basic desire for Greeks: 74% see it as an investment of life. However, the transition to their own home is delayed – the average withdrawal from the parental home is 35 years.

State policies and measures

Greek housing policy, for decades limited and fragmentary, is now at the heart of government interventions:

  • The “My Home” program was restarted in 2025 on new terms. • “Renovate – rent” promotes the utilization of the old building stock.
  • New tax incentives are launched for those who withdraw real estate from short -term lease.
  • A new social consideration program, with public private partnerships, is ongoing.