Rent in Greece is between 40% and 70% of the income of the population

Over the past 2-3 years, rental housing prices in Greece have risen sharply, which, together with rising prices for food and essential goods, leads to the fact that many Greeks cannot find housing and stay in their parents’ houses until the age of 40.

How difficult it is for a Greek resident to find housing, confirms the European Commission report, which says that rental prices are so high and completely unaffordable compared to the average salary, that Greece ranks first in the list of 27 countries EUwhere residents pay at least 40% of their income for rent.

The relative percentage of housing costs in Greece is huge, reaching a staggering 74.6% of wages. For comparison, the next country on the list is the Netherlands with 48.3%, and the third is Bulgaria with 45.5%.

Spain, where the cost of housing is often discussed in public debates, takes only 4th place with 40.9%.

European average for 27 EU countries is only 21.2%, which means that Greece’s “dismal” performance is nearly four times the European average.

In its report for Spain, the European Commission says that lowering rental prices should be one of the challenges for the Spanish economy in the near future. Imagine what will be written in the corresponding report on Greece. With all this, we are seeing an increase in the number of auctions in which citizens lose their homes due to the inability to pay loans they took out in another era, before their salaries were “cut” due to the protracted crisis.

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