The rent continues: tenants of real estate in despair

Against the background of high indicators of public finance and ongoing economic growth, the problem housing prices And Rent It becomes a serious social and economic risk.

The Greek real estate market, after a decade of reduction and stabilization, has been demonstrating anxious signs in recent years overheatingcreating conditions for a new housing crisis.

Growth in housing prices

According to the data Bank of Greece (Τράπεζα της ελλάδος, tax), in the fourth quarter of 2024, the prices of apartments rose by 6.6% In the annual calculus, approaching the historical maximum of the third quarter of 2008. For new apartments, growth was 9.1%and for old housing – 4.9%.

The situation with rental

An even more complicated picture with rent. Prices continue to rise and, according to data, have not yet reached peak values. Rent in recent years has become a difficult task for many. Those who are looking for housing during this period call prices “Unreal”even for old small houses.

Vice President of the Association of Realtors of Athens Attics Mina Harmpali On the air of the MEGA Saturday program, it commented on the situation: “Reducing prices is not expected. We move to stable, but high prices in 2025. They are too high for the Greeks, since the salaries in Greece are very low and do not correspond to current prices. But for foreign investors, we are a very cheap country, so they come here to rent or buy ”.

She added: “Greeks are very difficult to find housing. There are no areas where prices would remain low, even Western suburbs have risen in price. We have a very low property supply, which raises prices. The state must find ways to open the market. About 300,000 objects are closed. We need subsidies, the state takes steps, but this is not enough “. Harmpali noted that the program “My house 2” She was a good initiative, but due to delays with subsidies, housing manages to go to the free market.

Market dynamics

Although the rental is still lower than the record levels of 2011, in 2025 it increased significantly: the index compiled 109.7 (Base 2007 = 100) against 99.9 in 2024. The imbalance between housing prices and rental is associated with a low offer of affordable housing and deterrence of investments, which maintains pressure on the market.

The causes of the crisis

Low construction of new housing exacerbates the problem. According to TTE:

• Limited housing supply due to investment operation.
• Low level of issuing new construction permits, which, although they have grown on 14.9% In 2024, demand is still not satisfied.
• High tax burden on real estate.
• Growth in the cost of life, including energy expenses.

In 2023, housing expenses were 35.2% disposable income, which makes Greece one of the most expensive countries EU By the level of housing load.

Political measures

The problem is recognized at the political level. Programs “My house 2” And “I improve my house” aimed at supporting young and vulnerable groups to buy the first housing and modernization of the existing fund.

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