Greek Government Tackles Housing Shortage with New Measures

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The Greek government is exploring ways to utilise the country’s 600,000 vacant properties to address a severe housing shortage, according to a report by Kathimerini.

The move aims to increase housing supply and reduce soaring property prices, which have made homeownership and renting unaffordable for many young households.

The issue has become a priority for the government, with officials also viewing the property market as a significant area for potential tax evasion. Prime Minister Kyriakos Mitsotakis is expected to unveil a series of measures to tackle both the housing crisis and tax evasion during his keynote speech at the Thessaloniki International Trade Fair on September 7.

Key initiatives will include strategies to bring vacant properties back into the market and stricter regulations on short-term rentals, which have limited rental availability for locals, particularly in areas popular with tourists. The government is also considering the development of a user-friendly property platform that would allow public access to detailed property histories, including sales and rental prices, to help curb tax evasion.

The government’s housing plan also includes a redesigned subsidy program, “My Home,” aimed at assisting young households. The second phase of the program, already announced by Mitsotakis, seeks to secure €1.7 billion from the EU’s Recovery and Resilience Fund, with a total budget of €2 billion. Additionally, the government is considering raising the age limit for subsidy recipients from 40 to 50.

These measures are expected to be part of a broader effort to make housing more accessible and affordable, while also tightening controls on property-related tax evasion.