Worsening housing crisis hits Greece hard

The housing market is tightening in one of Europe's southernmost countries.

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[JP-wjcz]

How does a country with a declining population have a housing crisis? It sounds like artificial scarcity.

[Nevio]

I am 30 and I still live with my mom because rents are just insane

[UnCoolDad]

Not only is there a lack of property, but a lack of parking too.

[PatPriice]

If anything, it's likely to get worse. Affordable housing will soon become unaffordable. Therefore, I advise taking action now because today's prices will seem like bargains tomorrow. Until the Fed takes more decisive action, I expect we will see hysteria due to rampant inflation. You can't just halfway rip the band-aid off.

[vasilishimself]

It's a lot worse than what the video shows. People cannot even inherit their parents' houses now. If I accept inheritance of my parents' house, the government will see it as a "proof of living standards" or "living presumption" regardless of my income, and I will have to pay 5, 000 euros + property tax every year. So basically the inland revenue gets to sublet you your own home perpetually. I live abroad for all my adult life and have never worked in Greece but still, paying 6k to the inland revenue each year is almost 20% of my yearly income. Now imagine what that means to a country where 40% of the population earn between 4, 000 - 10, 000 euros per year.

[Bebedollie]

This is happening all around the world

[antonarap]

Greece came out of a crisis that saw prices and rents plunge. The problem is not high prices, these are still below pre crisis levels, even without taking into account inflation and much much lower than average Europeans prices. The problem is salaries kept artificially low because of employers overtaxation and huge social security costs.

[vaggelisrizos]

Thats the most basic need for a human being to survive, a home, the rest are also expensive, markets, medication, electricity, food, water, a country with avarage wage of 800-1000 euros a month and with expenses 1500-2000 a month, also if you own a house you also need at last 1000-1200 a month

[QWERTY-hlwm]

It can get worse, I live in Lisbon and a room! in a flatshare costs you a monthly minimum wage at times. Airbnbs should be banned! One recruiter told me that housing in Greece is cheap and costs 300€ - I think it’s 3h from Athens ☠️

[ronniewilliams-g]

Luckily, my spouse and I were able to pay off our mortgage early. We took the money we were spending to accelerate our mortgage repayment and invested it right away while we were both still working. We were able to retire early after accumulating what would have been our home payment for over 7 years and maxing out our 401K/403B plans. Thankfully, both of our parents taught in us the importance of living within our means.

[dennisyannoutsos]

Oh great more government regulation. The gov is the biggest problem in this crisis starting with rentals where they blame short term rentals. Ive developed properties for 2 decades across 3 continents and here the paperwork etc for even a simple renovation let alone a new building permit is iinsane and costly. If they work like most normal govs with very little red tape the amount of properties that could enter the market would solve this very quickly but its easier to rather blame foreign buyers and AirBnB than take responsibility for a BS policies and procedures

[insidebody]

Αθήνα, ένα απέραντο ξενοδοχείο, ένα λούνα πάρκ για τουρίστες, ο παράδεισος για χρυσές βίζες και για remote jobs για ξένους που έρχονται εδώ "επειδή είναι φθηνα", το ποιος φταίει καλό είναι να το απαντήσουμε μόνοι μας...

[AnimeFreaks]

I love how everyone realised suddenly how fucked up greece has been all this time.

[BladeRunner_]

The situtation is tragic..
Always best! at everything bad..this 3rd World Banania.

[sandie]

It's everywhere. Try getting a rental in the UK anywhere near the coast, or anywhere near a University. Greedy landlords.

[karenmbbaxter]

All the people complaining about open borders I just wish to explain some FACTS because it is happening across the Western World and the problem is the amounts of previous rental properties are now advertised on AirBnB because owners of the property can charge much more for a short tern rental that if a family rents it out for a blaming migrants are The Greek Gov needs to make rules that only a small percentage of properties can be available on AiBnB and the rest must be rented out for long term tenants.

[GeronimoLogistics]

Same as venezuelana, hyper inflation is a direct factor of Central banks, private corporations

[benny]

It's happening everywhere. Living in Canada now is a luxury. Regular homes are over 1 million on average in major cities. We can't afford this.

[fourtails]

Malta is the same ..2 bedroom dog box in shell form in a mediocre neighborhood...over €300, 000, its ridiculous

[alexandros]

The rents are reasonable but the salaries arent. Minimum wage should be atleast 1000 euro by now. The unions needs to do better work.