The cost of housing continues to increase as a result of higher demand and limited supply, exacerbating the problem, especially for the category of citizens who rent.
According to data published by ELSTAT, rents increased by 10.8% in 2025 compared to 2024, the cost of home repair and maintenance by 5.9% and home-related services by 2.1%, while based on a recent Alpha Bank study on housing, 52% of tenants state that they spend more than 30% of their income on their rent.
The above figures follow Bank of Greece’s report on apartment prices, which last year increased by 8.7% on an annual basis, compared to a significant increase of 13.9% in 2023 and 11.9% in 2022.
In particular, the prices of new apartments (up to 5 years old) in 2024 increased at an average annual rate of 10.1%, compared to 7.8% recorded in old apartments, which the market attributes to the continuous increase in the cost of materials.
As construction industry executives estimate, construction costs have doubled compared to the period of the economic crisis.
With apartment values soaring, citizens are turning to rent.
The factors that cause the imbalance between supply and demand in the housing sector are many.
Based on estimates (latest census and market data), there are approximately 794,000 vacant homes in Greece, mainly in urban centers.
Their use could be part of the solution to the problem of the supply of homes for rent.
At the same time, the building stock is aging. 64% of homes are over 30 years old and renovation is often not feasible for some households, especially as the cost of materials is constantly increasing.
