The mountain town of Arachova, one of the most popular Greek winter resorts located in the western part of Viotia is crumbling under the economic crisis. Prices of accomodation in the region, near the ski slopes of Parnassos, are 60% less than prices from 2005-2008, however demand this year is next to zero.

Meanwhile, owners of nearby country homes who no longer visit the slopes, are seeking people to rent. The area is ideal due to its proximity to the ancient site of Delphi and the ski slopes, but the tourist hotspot that was once a gathering place for the elite has been abandoned.

Figures of e-Real Estates put the average price of buying a home at Arachova at 3,000-4,500 euros per square meter in 2007-2008 whereas prices are now 90-95% less than they once were.