For older generations, the ultimate achievement was, “once we put a roof over our heads,” to acquire one or more properties. For younger generations, born, raised, or called to build their lives amid the crisis, this has ceased to even be a dream. Consequently, we see a decline in the rate of owner-occupation in Greece, an increase in renters, and the harsh, relentless laws of the market prevailing.

Rents

At this point, it must be noted that the surge in rents is largely a result of the explosive rise in property prices after the collapse during the years of the bailouts. About 70% of property owners see the value of their assets rising with satisfaction, while roughly 30% are distressed by the extremely high rents, making housing one of society’s main problems—especially for young people.

The result is that the whole issue has become subject to market rules, as demand for rental properties has increased exponentially in recent years while available properties have decreased (for various reasons, including owners’ decisions not to offer them for long-term rental), causing rents to “climb”—even for substandard properties that arguably should not be on the market in their current condition.

But it’s worth asking: how many are renters, and how many are owners? What kinds of housing exist in Greece?

How many homes are there?

According to the latest Eurostat data, in Greece, property owners—i.e., families living in their own home—account for 69.7% of the population, roughly the European average. In the years before the crisis, this rate exceeded 80%. Consequently, the remaining 30.3% are renters. Let’s look at real numbers.

Recent ENFIA tax clearance data show that there are 7.3 million residences in Greece. The 2021 population-housing census by the Hellenic Statistical Authority recorded 6,596,761 properties.

The ENFIA data also reveal other insights about property ownership in Greece. For instance, there are slightly over 19,000 homes paying double ENFIA, as they belong to bank and servicer portfolios and remain off the market. The government estimates that it will collect around €20 million from this double ENFIA.

Additionally, there are 48,485 properties for 2024 and 64,627 for 2023 that do not pay ENFIA, as they suffered total destruction or major damage from fires or floods in July–September 2023.

So how many are renters? A non-traditional way to estimate is through the rental rebate program. Data from the Ministry of Finance, which allocated roughly €200 million, show that 886,883 approved beneficiaries received rent refunds.

The large gap from the “millions” one might expect is due to two reasons: first, the refund was per household, so individuals living in a rented home aren’t counted separately. Second, previous census data included renters living in family-owned homes.

The previous 2011 ELSTAT census found 894,043 rented homes, 3,017,542 owner-occupied homes, 14,778 cooperative-owned, and 195,725 “other types of ownership.”

Two out of three are owners

In any case, owner-occupancy and rental rates now closely approach the European average compared to two decades ago. The latest Eurostat data (2024) show that 68% of the EU population lives in their own home, while 32% are renters.

Interestingly, in the strongest EU economies, renting is the dominant housing trend: 53% of Germans, 46% of Austrians, and 39% of Danes live in rental housing. Renting in these countries is socially accepted and economically viable due to strong tenant protection laws and long-term leases.

By contrast, owner-occupation seems more cultural in some countries, especially where there is economic insecurity or historical memory of such insecurity. Romania leads, with an impressive 94% living in their own homes, followed by Slovakia (93%) and Hungary (92%). These high rates are typical in former Eastern Bloc countries, where homeownership increased after the 1990s, often through mass privatization.

Finally, ELSTAT’s latest housing census shows that of 6.596 million properties, 2.27 million are single-family homes, 1.012 million are semi-detached, and 3.274 million are apartment buildings. Vacancies total 2.277 million (mostly single-family homes at 1.033 million). Most were built between 1960–1980 (2.356 million), with the next largest category (1.228 million) from 1981–1990.

From 2001–2010, 915,138 homes were built, and during the crisis (2011–2015), when construction largely halted, 112,758 homes were built. Since 2016, 60,866 homes have been constructed. Notably, 128,787 homes were built before 1919 and 268,775 between 1919–1945. ELSTAT recorded 2,162,826 properties in Attica and 1,825,932 in Northern Greece.

Anatomy of the renter

With initiatives like the “Tenant Registry,” to identify bad payers, it’s interesting to see who rents homes in Greece. Setting aside the finding that the average rent is €225 (from the rent rebate), which highlights widespread tax evasion (owners reporting only a fraction to the tax office and taking the rest in cash), the profile of Greek renters is unsurprising.

Renters occupy older homes—on average 20 years old—that are habitable but smaller in size, to minimize rent and heating costs. This is particularly true in Athens and Thessaloniki, where rental pressures are highest.

Nationwide, roughly two-thirds (67%) of renters choose apartments up to 75 m², with the highest demand for homes under 50 m². Additionally, three out of four rent properties older than 20 years. In Athens and Thessaloniki, nearly 85% prefer 20+ year-old homes, while only 4% opt for new builds under 5 years old. Elsewhere in Greece, 67% of rentals are for homes over 20 years old.

High rent costs remain the main “thorn” for Greek households. Despite inflation slowing to 1.9% year-on-year in September, housing rents rose 9.9% compared to last year.

This ongoing rent increase largely explains renter choices, as recorded in the latest REMAX Greece survey on rental housing trends and preferences. The study analyzed actual leases through the company’s network of 88 offices and over 1,200 property consultants nationwide.

Rental sizes and age

Nationally, 44.7% of rentals are for homes up to 50 m², 21.9% for 51–75 m², and 30.1% for 76–150 m². Only 3.3% are over 151 m².

In Attica, most rentals are small to medium: 53.7% up to 75 m², 45.2% for 76–150 m², and only 1.1% over 151 m².

In Thessaloniki, demand focuses on smaller homes: over 80% up to 75 m² (63.1% up to 50 m², 17.9% for 51–75 m²).

Elsewhere, rentals are mainly small to medium: 39.6% up to 50 m², 23.2% 51–75 m², and 33.1% 76–150 m². Homes over 151 m² are only 4.1%.

Regarding age, nationally, 74.1% of rentals are over 20 years old, 19.5% are 6–20 years, and 6.4% are under 5 years.

In Attica, older properties dominate: 84.9% over 20 years, only 4.3% under 5. Thessaloniki shows similar trends: 83.7% over 20 years, 3.4% new.

In regional Greece, renters are somewhat better off: 66.8% over 20 years, 17.6% 16–20 years, 15.6% under 15 years.

Key rental preferences

Renovations are crucial, especially in Athens, where over 8 in 10 consider them necessary. An elevator is universally required (100%). Furnishing is less important: 94% of Athens renters and 50% in Thessaloniki are indifferent.

More than half of Athens renters (56%) and half in Thessaloniki (50%) seek parking. Proximity to public transport is critical for 94% in Attica and 62% in Thessaloniki.