Six in 10 homes require urgent energy upgrades, report finds
More than half of the country’s housing stock was built before 1980, with 35.7% constructed during the 1960s and 1970s. By contrast, just 2.6% of homes have been built since 2010, reflecting a sharp slowdown in investment during Greece’s debt crisis.
The report estimates that tens of billions of euros will be needed to modernize at least three million properties, improving both energy performance and overall functionality.
Regional disparities
The greatest need for upgrades is recorded in southern Greece, particularly in Attica, where about 60% of homes require intervention. In the islands, the figure rises to 66%, while 58% of homes in northern Greece also need improvements.
Limited uptake of subsidy programs
Despite the scale of the challenge, only 20% of property owners have participated in state-backed energy upgrade schemes, many of which are co-funded by the European Union.
According to the report, low participation is not due to lack of interest, but to financial constraints and bureaucratic hurdles. Complex procedures, delays in ministerial decisions and banking red tape have slowed implementation and left beneficiaries waiting.
The “Exikonomo” (“I Save”) subsidy program, launched in April 2025, faced significant delays, with applications opening only in December. Although its budget has more than doubled to €924 million, market estimates suggest that part of the available EU Recovery Fund financing could be lost due to tight deadlines.
Manos Kranidis, board member of the Panhellenic Federation of Property Owners (POMIDA), said delays in subsidy payments force many homeowners to cover rising material and labor costs upfront, reducing the overall effectiveness of the programs.
The report highlights the urgent need for faster implementation and broader funding if Greece is to meet its energy-efficiency targets and modernize its aging housing stock.
