Rents in Attica’s most affordable areas now exceed €500 for an 80 sq.m. apartment, highlighting the growing housing affordability crisis. Recent data shows rental prices rising by 8.5% annually, far outpacing inflation at 2.6%. Districts like Perama, Acharnes, and Ilion reflect this trend, with Moschato and Athens Center experiencing steep hikes.
Tag: housing costs
In a surprise announcement, Canadian Prime Minister Justin Trudeau has resigned, citing the need for “renewal” within the Liberal Party. His departure comes amid declining approval ratings and mounting pressure from within the party, fueled by public discontent over issues like the soaring cost of living and housing affordability crisis. Trudeau will remain in office until a successor is chosen.
An OECD report highlights a staggering 69% rise in Greek housing prices since 2017, worsening the affordability crisis for local families. With nearly 27% of households spending over 40% of their income on housing—compared to a eurozone average of 9.4%—Greece faces the highest housing cost burden in the EU. The report also examines the impact of foreign buyers, rising mortgage risks, and government measures like the golden visa reforms and renovation subsidies.
Rental prices in Athens have surged significantly, putting increased pressure on households. The southern suburbs, along with central Athens, are among the most expensive areas, with Vouliagmeni topping the list at 20 euros per square meter. Meanwhile, neighborhoods like Perama and Acharnes remain the most affordable. Despite current increases, rental prices in Greece are still below the levels recorded in 2010, contrasting sharply with rising rent trends across much of the European Union.
While a recent EU report reveals rising living costs as the main concern for 90% of Europeans, Greece stands out with a cost of living below the EU average. This comes amidst a general surge in expenses across the bloc, particularly driven by housing and energy prices.
Savings in Greece have seen a dramatic decline since 2002, particularly in private savings by…
Prime Minister Kyriakos Mitsotakis unveiled a forthcoming series of measures to bolster support for families…
Greeks are facing a daunting challenge in the housing market, with soaring property prices making…