Schertz for cheap housing: “Menu” of tools, subsidies and incentives especially for young people

The Minister of State refers to the innovative ideas of the government plan that will provide a solution to the social problem of securing housing especially for young people and at the same time offer them hope, in an article in the newspaper “TA NEA Savvatokyriako”. Akis Schertsos.

“The fear of the new generation that for the first time since World War II they may live worse than that of their parents is real. And it does not only concern our country but all the young Europeans”, the Minister of State points out in his article. He underlines that “the economic ordeal of the past decade, the climate crisis, the refugee and migration issue, the pandemic and now the energy crisis and the inflationary pressures on income brought by the Russian invasion of Ukraine, have created an environment of multiple crises that are now “normality” in young people’s lives’.

In his article, Mr. Skertsos emphasizes that this finding should not stop the ambitions of young people, but “it is enough to turn it into awareness and a springboard for brave initiatives in favor of the new generation. In other words, it is enough to lead to a new contract between the older and the younger, with the aim of a fairer Greece and a – finally – a fairer redistribution of resources and opportunities to the young people who are among the losers of the system over time”.

And he notes: “This plan is already being prepared by the government with the aim of being announced by the prime minister at the next TIF and is applied, among other things, to the issue of cheaper housing.

What do we observe today in contrast to previous decades in this critical field? That what for our salaried parents of the previous generation was self-evident, is almost impossible today: young couples find it difficult to obtain their own “tile” on their own. A worrying indicator here is the downward trend that home ownership has taken in our country in recent years – although it still remains at higher levels than the European average (74% versus 70%). This downward trend must be reversed with the help of a modern policy of acquiring cheaper housing.’

He adds that what is also troubling is that “housing costs eat up a disproportionately large part of the disposable income of the general population in Greece, compared to other countries. 1 in 3 citizens spends more than 40% of their income on housing costs, when the corresponding percentage in Europe is 20%. We must also converge to this percentage so that the cost of living becomes more bearable and there is also the possibility of saving. The increases in the minimum wage that cumulatively reach 22% in the last 4 years together with the tax reductions boost the disposable income, but at the same time they are compensated by corresponding increases in the prices of rents (25%) and real estate (23%).

Also pointing out that “what drives real estate prices upwards at a faster rate is the limited stock of modern housing in relation to the demand that exists”, and therefore “an exclusively subsidized policy will not solve the problem of the ever-increasing prices”, Mr Skertsos underlines the need for “our cheaper housing policies to be smarter and aim to increase the supply of more modern homes either for long-term rental or for purchase by younger people”.

And he concludes in his article: “The government plan is moving in this direction with the aim of offering a menu of tools, supports and incentives especially to young people to occupy existing private and public properties that have not been used to date. A significant budget program with innovative ideas that will provide solutions to this major social problem and hope for young people. Because Greece must become and will become a more welcoming place for its young people so that they can live and realize their dreams as they should, with greater autonomy, freedom and security”.

RES-EMP

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