1. Birthplace of Democracy: Athens is widely regarded as the birthplace of democracy. In the 5th century BC, it became the first city-state to implement a system of direct democracy where citizens could participate in decision-making. 2. Cultural Heritage: Athens is home to numerous UNESCO World Heritage Sites, including the Acropolis and the ancient Agora. These sites reflect the city's rich historical and cultural significance, attracting millions of tourists each year. 3. Vibrant Street Art Scene: Beyond its ancient monuments, Athens boasts a thriving contemporary art scene, particularly in street art. The city's streets are adorned with murals and graffiti, showcasing the work of both local and international artists, making it a vibrant canvas of expression.
Housing Market Overview
Athens has experienced significant increases in both housing sales and rental prices in recent years. As of Q2 2024:
- Average apartment purchase prices in central Athens: €2,120 per square meter (12.4% increase year-over-year)[5]
- Average rental prices in central Athens: €10-11 per square meter per month[5]
Prices vary considerably depending on the neighborhood and property type. The most expensive areas for buying property are the Southern Suburbs of Athens, with prices reaching up to €6,476 per square meter in Vouliagmeni[5].
Homeownership rate in Athens: Approximately 72-73% of residents own their homes, while around 27-28% rent[3][10].
Public and Social Housing
The social housing sector in Athens is limited compared to other European countries. Key points:
- Greece lacks a formal public housing policy since the abolition of the Workers' Housing Organisation (OEK) in 2012[9][12].
- There is no significant stock of public/social housing units in Athens.
- The city relies primarily on rent subsidies and allowances for low-income households rather than direct provision of social housing[9].
Cooperative Housing
Cooperative housing is not well-established in Athens. There are some emerging initiatives:
- CoHab Athens: An open group exploring cooperative housing models, but still in research and planning stages[4].
- No concrete numbers are available for existing cooperative housing units in the city.
City Policies and Initiatives
Athens is taking steps to address housing affordability and sustainability:
- Affordable Housing Plan:
- The city is partnering with private developers to construct apartment buildings on state-owned plots[1].
- These will be rented out at below-market rates, focusing on young people aged 18-39[1].
- The first homes are expected to be completed by 2025[1].
- Social Housing Observatory:
- Athens signed a Memorandum of Understanding with Housing Europe to establish a Social Housing Observatory[7].
- This aims to promote local social housing policies and identify funding tools[7].
- "My Home" Housing Policy:
- A national program to rehabilitate housing for young and vulnerable groups[9].
- Includes subsidies for homeowners to repair vacant properties in exchange for renting them out at affordable rates[9].
- Renovation and Reactivation:
- The city is exploring ways to reactivate and upgrade existing buildings for affordable housing[4].
- This includes retrofitting older apartment buildings ("polykatoikia")[4].
- Promoting Cooperative Housing:
- While not yet widespread, the city is showing interest in cooperative models.
- CoHab Athens is working to cultivate awareness of collective property and cohousing principles[4].
- The group aims to develop prototypes and pilot case studies for alternative ownership models in central Athens[4].
- Addressing Vacant Properties:
- Athens has a high vacancy rate (31% as of 2011)[9].
- The city is exploring ways to bring these empty units back into the rental market through renovation subsidies and incentives[9].
Challenges and Opportunities
- Lack of Dedicated Social Housing: Athens faces a significant challenge in providing affordable housing due to the absence of a robust social housing sector[12].
- Rising Prices: Continued increases in both purchase and rental prices are making housing less affordable for many residents[5].
- Vacant Properties: The high number of empty homes presents an opportunity for increasing housing supply if properly activated[9].
- Limited Cooperative Experience: While there's growing interest in cooperative housing models, the city lacks established examples and legal frameworks[4].
In conclusion, Athens is grappling with housing affordability issues and is taking initial steps to address them. However, the city's efforts are still in early stages compared to many other European capitals, particularly in the areas of social and cooperative housing. The focus appears to be on leveraging private sector involvement and reactivating existing properties rather than large-scale public housing development.
Citations: [1] https://www.ekathimerini.com/economy/1239044/affordable-housing-plan-moving-ahead/ [2] https://anyresidence.com/prices/ [3] https://www.globalpropertyguide.com/europe/greece/price-history [4] https://cohabathens.org/about/ [5] https://en.spitogatos.gr/blog/greece-real-estate-market-insights-key-findings-q2-2024 [6] https://flagpole.com/news/city-dope/2024/09/25/acc-commission-may-reject-proposal-for-affordable-housing/ [7] https://www.housingeurope.eu/resource-1273/housing-europe-inaugurates-strategic-partnership-with-the-city-of-athens [8] https://www.tovima.com/finance/greek-property-market-surge-piraeus-leads-nationwide-price-increases-in-q2-2024/ [9] https://en.rua.gr/2023/01/25/social-housing-in-greece/ [10] https://housing360.eteron.org/home-ownership/ [11] https://theluxuryplaybook.com/athens-real-estate-market-overview-2024/ [12] https://www.dianeosis.org/en/2023/07/housing-policies-across-greece-and-europe/