The housing crisis is not only a concern for Greek society, but for all European countries.
At the initiative of Eurogroup President and Greece’s Minister of National Economy and Finance, Kyriakos Pierrakakis, the issue will be discussed by finance ministers during the informal Eurogroup meeting in Nicosia on Friday. The main objective is for countries to exchange best practices and policy approaches to tackling housing challenges, allowing member states to learn from the successful measures implemented elsewhere.
“I believe we need to examine how many additional measures each country can implement individually, while working in close coordination with the others, in order to address an issue with strong social dimensions,” Pierrakakis said.
Agenda
According to the meeting agenda, eurozone finance ministers will also discuss the outlook for the European economy in light of the European Commission’s latest forecasts, which are due to be published today, taking into account the impact of the crisis in the Middle East.
“There is a need for greater housing supply. First of all, Greece has a large number of vacant properties. We have approximately 794,000 vacant primary residences. Have we taken steps to increase the availability of these vacant homes? Yes, we have. Even more measures in this direction will follow,” Pierrakakis noted.
The European affordable housing plan presented by the European Commission in December 2025, along with the proposals unveiled by the European Parliament in March 2026, provide for practical measures aimed at improving housing conditions, expanding Europe’s construction and renovation capacity, and offering financial support to those most affected by the crisis.
The four pillars of the European plan
The European affordable housing plan is based on four pillars requiring action:
I. Boosting supply
II. Mobilising investment
III. Facilitating immediate support while advancing reforms
IV. Providing support to those most affected
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