Average families are finding it increasingly difficult to rent at affordable rates in light of the compounding housing crisis in Greece. This grim reality was underscored when a story in Heraklion, Crete, where people lined up to view an apartment rented for €400 made the internet rounds.
The landlord of the house was asking 400 euros for monthly rent, a rare exception in a market where rents for family homes often consume nearly an entire monthly salary.
The extent of the severity of the situation cannot be overstated considering half of private-sector workers earn less than €1,000 gross (€820 net) and 70% earn under €1,200 gross (€950 net), finding an apartment for €600 is considered a stroke of luck.
A recent study by the nationwide E-Real Estates network paints a grim picture of rental availability in Athens and its surrounding areas: Central Athens: Only 6.4% of properties suitable for families (80–100 m², two bedrooms, above the first floor) are available for €600 or less.
Meanwhile, in the northern and southern suburbs of Piraeus, Greece’s largest port, affordable rentals are nearly non-existent, with only 0.22% and 0.55% of properties, respectively, in this price range.
In the western suburbs of Piraeus, prospective renters fare slightly better, but options remain limited, with availability capped at 15%. As the housing crisis in Greece continues to exacerbate, renters are increasingly anxious. The country ranks as one of Europe’s leaders in housing insecurity, with many families struggling to find affordable accommodations in an increasingly competitive market.
