In Greece the outlook is now bleak, since housing costs for households exceed 40% of disposable income, when the European average is 10.7%, according to Eurostat.
The housing crisis in Europe has become a major social and political problem. Purchase and rental prices have skyrocketed and availability has plummeted. Eurostat indicates that from 2010 to 2022, house prices in the European Union soared by 47%, while rents increased by 18%. In Greece the outlook is now bleak, since housing costs for households exceed 40% of disposable income, when the European average is 10.7%, according to Eurostat.
”There is a real estate offer when it comes to selling, but people protest a lot about the prices. This makes sense, because unfortunately In Greece we do not have official transaction data. This creates a very special problem, because we all discuss prices based on the figures requested in the advertisements. However, the asking prices in the ads come from the owners or real estate agents and are not the final transaction prices,” says Antonis Markopoulos, co-founder of Prosperty.
High demand for rentals and few possibilities of accessing housing
aluilarIn Greece, since 2018 the rent increase has reached 37%according to Eurostat data.
“In terms of rent, indeed, there is a very big supply problem, because the rental demand It is five times greater than the offer. Nowadays, Five people look for a home, but only one agrees to rent it. Normally what is rented is an older home, because when an owner renovates his property, or builds a property, he puts it in the short-term rental business, or promotes it to a very small circle of tenants,” says Antonis Markopoulos. .
”It is estimated that the closing prices of average urban properties are between 15% and 20% below sales prices. If interested owners, buyers or tenants had a clearer idea of the real pricesthe market would regulate itself, experts say,” explains Fay Doulgkeri, journalist for ‘Euronews’.
The Greek Government prepares a series of interventions to face the crisis of the home. The final announcements are expected for the next political year.
