Athens is one of the oldest cities in the world, with a recorded history spanning over 3,400 years, and it's often referred to as the cradle of Western civilization due to its influential contributions to art, philosophy, and democracy.
Athens Housing Market Overview
Athens, the capital of Greece, is experiencing significant challenges in its housing market. The city has seen a surge in property prices and rental costs, making affordable housing increasingly scarce for many residents.
Housing Market Statistics
As of 2024, the average price per square meter for apartments in Athens city center is approximately €2,500, while outside the city center, it's around €1,800. Rental prices have also increased, with the average monthly rent for a one-bedroom apartment in the city center reaching €500, and €400 outside the center.
According to recent data, about 60% of Athenians own their homes, while 40% are renters. This ownership rate is lower than the national average of 74%, reflecting the challenges of home ownership in the capital.
Public and Social Housing
Public housing in Athens is limited, with only about 1% of the total housing stock being social housing. The Organization of Workers' Housing (OEK), which was the main provider of social housing, was abolished in 2012 due to austerity measures. This has left a significant gap in affordable housing options for low-income residents.
Cooperative Housing
Cooperative housing is not widespread in Athens, accounting for less than 1% of the total housing stock. However, there's growing interest in this model as a potential solution to the housing crisis. The few existing housing cooperatives in Athens operate on a limited scale, primarily serving specific professional groups or communities.
Government Initiatives for Affordable Housing
The local government has implemented several measures to address the housing affordability issue:
- Rent Subsidy Program: The government provides rent subsidies of up to €210 per month for low-income individuals and families.
- Golden Visa Reform: The minimum investment for the Golden Visa program has been increased to €500,000 in popular areas like Athens, aiming to curb speculative property investments.
- Vacant Property Activation: The municipality is working on a program to incentivize owners of vacant properties to rent them out at affordable rates.
- Social Housing Fund: A new social housing fund has been established to finance the construction and renovation of affordable housing units.
Support for Housing Cooperatives
While there isn't a comprehensive program specifically for housing cooperatives in Athens, the city has shown interest in supporting alternative housing models. The municipality has started discussions on potential pilot projects for cooperative housing, including:
- Land allocation: Identifying publicly owned land that could be used for cooperative housing projects.
- Technical support: Providing guidance on legal and administrative procedures for establishing housing cooperatives.
- Financial incentives: Exploring tax breaks or subsidies for cooperative housing initiatives.
These initiatives are still in the early stages, and their implementation will depend on political will and available resources.
Challenges and Ongoing Issues
Despite these efforts, Athens continues to face significant housing challenges. The influx of short-term rentals for tourism has reduced the available long-term rental stock. Additionally, the aftermath of the financial crisis and subsequent austerity measures have left many properties in need of renovation, further complicating the housing situation.
The city is also grappling with a growing homelessness problem, with an estimated 20,000 people experiencing homelessness in the greater Athens area. This underscores the urgent need for more comprehensive and effective housing policies.