DW publishes a study connected whether the Greek state is acceptable to “break an egg” for a λύση housing crisis.
Economist Cosmas Marinakiscreator Greekonomicsrefutes the thesis that explosive maturation successful rents and lodging prices is simply a earthy effect of a “rapidly increasing economy.”
For residents Athens and not lone the epoch when renting oregon buying an flat was achievable has turned into a memory. Thousands are unsuccessfully searching for affordable housing, and those paying rent are progressively unable to support up with the costs. According to Eurostat (autumn 2024), 17.7% Greek tenants were unable to wage connected clip implicit the past year – highest successful EU.
The aureate visa argumentation is exacerbating the lodging situation successful the agelong run. Image: Dragoslav Dedovich/DW
Prices are rising faster than incomes
According to ELSTATin 2018–2023 rent accrued to +52.1%. Only from May 2024 to May 2025 – much +10.9%. At the aforesaid time, income is “stuck”: arsenic helium emphasizes MarinakisIt is the spread betwixt slowly rising wages, ostentation and accelerating lodging prices that makes the situation peculiarly acute.
IN Joint Employment Report 2025 European Commission records that the stock of families with excessive lodging load successful Greece successful 2023 reached 28.5% (EU mean – 8.8%). According to EurostatGreeks spend connected mean connected rent and related expenses 35.2% income is an EU record.
Purchasing arsenic an unattainable goal
Cerved Property Services together with University of Athens And University of Macedonia estimate: to bargain 60 m² successful Athens “as rapidly arsenic possible”, the mean wage earner would person to prevention All income 12 years successful a row. From 2018 to 2023, the mean wage accrued by +17%but successful 2017–2024 lodging prices accrued by +71% (Alpha Bank).
Why the Greek lawsuit is special
According to Marinakis“rapid growth” is “100% narrative” The 5.9% surge is associated with a post-Covid rebound; then the system moves astatine the level 2.3–2.6% — this is not capable to explicate the standard of the crisis. Additional Driver – Policy “Golden visas”: While injecting liquidity successful the abbreviated term, it shifts supply sideways successful the agelong term luxury projects and crowds retired affordable lodging for locals.
According to Professor Cosmas Marinakis, the maturation complaint does not warrant the standard of the lodging crisis. Image: Ang Tuan Kiat
Research OPA (OEP/OPA – Оικονομικό Πανεπιστήμιο Αθηνών) indicate: developers are switching to premium properties under overseas capital, there are fewer available rental apartments, contention for “affordable” meters is growing, and rents and prices proceed to climb.
What doesn’t work and what is needed
Among the authorities measures Marinakis evaluates positively “Ανακαινίζω-Νοικιάζω“as a way to instrumentality dormant apartments to the market. But the instrumentality of 1 month’s rent each fall, helium said, warms up prices: seeing further liquidity, owners rise rates.
K. Mitsotakis argues that the lodging situation is an integral portion of a rapidly increasing economy. Image: Alexandros Avramidis/REUTERS
The expert’s decision is straightforward: “The Greek lodging situation is besides income crisis” Solutions are needed extracurricular the constrictive existent property sector: expanding productivity and wages, accelerating construction, expanding the stock of affordable housing, revising incentives for concern instruments similar Golden Visa.
Kyriakos Mitsotakis astatine DEF called for “looking astatine some sides” of the equation. Most citizens are already doing this: they spot some the hard situation of tenants and the benefits of owners. Without a systemic policy, the hazard is obvious: lodging turns into luxury item.
Source: **DW**
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