Home Ownership Rates Drop to All-Time Low in Greece

October 17, 2017

ATHENS – The saving grace for many Greeks during a 7 ½-year-long economic crisis, owning their own homes, is being lost as well at the same time Greek families pay nearly four times more than their fellow Europeans in housing costs as a percentage of their income.

That was found in a survey by Housing Europe, the European Federation for Public, Cooperative and Social Housing which said households in Greece spend 41 percent of their disposable incomes on housing costs, while the European average comes to just 11.3 percent.

Housing expenses include rent or mortgage installments, the cost of heating, water, electricity, telephony and cleaning.

Crucially, the rate of households living in properties they own has dropped to an all-time low of 73.9 percent, although still good enough to rank 26th in the world.


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