In Attica free plots with an area of over 1,000 m² suitable for the construction of large residential complexes have almost been exhausted, reports Prosperity. The problem is the standards that have worsened the situation with anti-steamers*.
Large plots for construction have run out in Attica
The number of large vacant plots suitable for the construction of residential complexes is rapidly declining, especially in Attica. According to Prosperityvacant land with an area of over 1,000 m² constitutes only a third of all plots, and is concentrated in the northern and eastern suburbs of Athens. IN Piraeus and southern regions – the situation is critical: there are only about 145 such sites (10% of the total), and in the center of Athens – only 158, that is, about 6%.
These figures show that without large-scale measures – such as reclaiming derelict office buildings and former industrial sites – the housing shortage will not be solved. The question is not only about the land, but also about the current construction rules.
Bureaucracy, laws and fear of investors
As noted Panagiotis Nerandzisdevelopment director Arbitrage Real Estate“Today the law has become another problem.” After 2011, constant changes to building regulations created chaos, and NOC has become a “challenged law”, as evidenced by the sharp drop in the number of new building permits. “We cannot keep a huge real estate fund out of the market. We need a system that gives real tools to investors,” he said at the conference Prodexpo 2025.
A similar position is held by Efthimios BakoyannisSecretary General for Urban Planning. He promised it was new Building Code will consist of only 20 articles, “simple and clear”, without the previous confusion that caused engineers to constantly argue with government agencies.
Plans until 2027 and a paralyzed market
New territorial schemes (TCS) are expected no earlier than 2027 – that’s when the publication of the first presidential decrees will begin. Until this time, the market will remain in a state of uncertainty. Businesses are wary of investing in large projects, especially in areas with unclear legal status.
According to Dion Gavriilidiscompany partner Elxis – At Home in Greece“Many foreign investors are now avoiding buying empty plots due to urban planning confusion.” They prefer ready-made objects for reconstruction or change of purpose, but do not take risks with clean sites.
Owners are not giving in – the market is frozen
An additional obstacle remains the behavior of the land owners themselves. Most are unwilling to reduce price or share anti-steamers*although now their plots allow you to build 30% less due to the abolition of bonuses on NOC. Negotiations, according to market participants, are becoming “virtually impossible.” This further slows down purchases and sales and threatens a sharp drop in new construction volumes after 2026.
Thus, Athens construction sector found himself between bureaucracy, outdated laws and inflated expectations of owners. Until the government updates regulations and simplifies procedures, the housing shortage will only grow.
*Reference: “Antiparokhi” (Greek αντιπαροχή) is unique to Greece land exchange system for apartmentswhich shaped the face of Athens for decades. In simple terms: the owner of the site gives the land to a construction companyand in return receives several apartments in a built house – instead of money.
Example: a man owns an old house in the center of Athens. The developer demolishes it, builds a high-rise building and transfers, say, two out of ten new apartments to the owner, and sells the rest himself, covering costs and making a profit.
Problem now is that due to changes in building codes (cancellation ΝΟΚ bonuses and reduction of permitted development) building has become less profitable.
Therefore, developers offer owners fewer apartmentsand they do not agree – hence the stagnation of deals and the “freezing” of projects. Essentially antiparokhi is a barter between land and housinga symbol of 20th-century Greek urbanism, but today it is stalled.
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