40% of Greek income goes to paying for housing

Greek families are “brought to their knees” as housing costs reach 34.2% of citizens' income when… EU the same expense item is at the level of 19.2%.

Also, half of Greeks have limited or are preparing to limit their purchases of food and essential goods to cope with rising prices that are literally eating away at their incomes, says Focus Bari research.

At the same time, total housing costs (because these are also bills – for electricity, water, etc.) reach 40%, while in the EU they are 10.6%. In addition, as the publication pronews writes, 45.5% of citizens have overdue debt on loans and bills.

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The country's households have already cut spending on essential items, as well as on such basic categories as clothing, shoes, books, toys, and cosmetics. Saving on food is increasingly coming to the fore, while for many people the basket is filled with cheaper products to survive until the next paycheck or pension.

These are the results of a new study conducted by Focus Bari, according to which half the Greeks said they would spend less on food and drink over the next 12 months.

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