INE GSEE: Excessive housing costs – EMT Region at 32.7%
The housing issue has become a central public concern in recent years due to the rising costs associated with housing expenses.
In 2023, 28.5% of the Greek population lived in households where housing costs exceeded 40% of their disposable income. Although this figure represents a decrease compared to 2019, it remains the highest among EU member states.
A new report by the Labor Institute of GSEE on the Greek economy and employment highlights that housing costs disproportionately affect the welfare of citizens across different income levels.
For the poorest 20% of the population, the excessive housing cost rate in 2023 was 85.3% (compared to the EU average of 29.9%), while for the wealthiest 20%, it was only 1.2% (versus 0.7% in the EU).
Renters faced the highest burden, with 40.5% experiencing excessive housing costs, while homeowners without mortgages saw a rate of 23.7%, both among the highest in the EU.
In the regions, Central Macedonia (34.8%), Eastern Macedonia and Thrace (32.7%), and the Peloponnese (31.8%) recorded the highest housing cost burdens, while Crete (20.2%) and the Ionian Islands (23.1%) had the lowest.
The report also highlights the impact of inflation, with significant price increases in clothing (+31.3%), food and beverages (+30.5%), and housing (+24.3%) between November 2020 and November 2024.
Additionally, Greece has some of the lowest wages in the EU, with an average annual adjusted full-time salary of €17,013 in 2023, the third-lowest among 26 EU countries.
