Feb 13 • 05:00 UTC 🇬🇷 Greece Naftemporiki

Chasing Prices

Property prices in Greece have surpassed pre-crisis levels, making housing unattainable for many, especially young people.

The article discusses the alarming rise in property prices in Greece, which have now exceeded pre-crisis levels from 2007-2008. This surge is equally reflected in rental prices, pricing out a significant portion of the population from both purchasing and renting homes. In stark contrast, wages have not kept pace with these increases; sixteen years post-memorandum and eight years after exiting harsh economic measures, current salaries remain significantly lower than they were before the crisis.

The report presents shocking data that underscores the deteriorating situation for citizens, particularly for young people attempting to establish their own households. Between 2020 and 2025, while average salaries have risen by less than 30%, property prices have skyrocketed by 62%. This disparity highlights the growing chasm between earnings and housing expenses, suggesting that without parental assistance, homeownership may become impossible for younger generations.

Moreover, the article hints at a broader societal issue, where Greek citizens are diligently searching for affordable housing in vain, emphasizing the urgent need for governmental intervention or alternative support systems. The inability to secure adequate housing not only impacts individual families but poses long-term implications for social stability and economic growth in Greece.

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