Greece and Turkey Lead in Housing Insecurity Amidst Rising Costs

A recent study by the housing research platform Prindex reveals a significant increase in housing insecurity globally, with about 1.1 billion adults, or 23% of the population, feeling insecure about their property and rental rights over the last four years.

Factors contributing to this trend include rising rents and mortgage costs.

In Europe and Central Asia, approximately 19% of adults report insecurity regarding their housing situation, primarily due to economic pressures. Greece and Turkey have been highlighted as the countries with the highest levels of housing insecurity in Europe, exceeding 35%, largely due to ongoing economic instability.

Anna Locke of Prindex remarked on issues in Turkey, where a 37% insecurity rate is influenced by a preference for renting over buying and fears of eviction by landlords. In Greece, at 35%, prolonged economic challenges and declining real wages contribute to difficulties in securing stable housing despite broader economic recovery.

Cyprus and Albania also face notable levels of housing insecurity, while the UK reports a 14% insecurity rate. In contrast, Lithuania reports the lowest rate at 6%.

Between 2020 and 2024, Ukraine experienced the most significant increase in housing insecurity worldwide, rising from 10% to 33% due to the ongoing conflict. Similarly, Greece saw a significant rise from 16% to 35%, reflective of systemic economic challenges and foreclosure policies.

Financial difficulties remain the primary driver of housing insecurity across Europe, with affordability and potential eviction being key concerns among the population.

This news story highlights the key findings and implications from the Prindex study on global housing insecurity.