Greece is facing an acute housing shortage: the shortage exceeds 212,000 houses

The Greek real estate market is under serious pressure: according to Piraeus Bank, the country has a shortage of more than 212,000 residential units.

Why is there a housing shortage?

▫️ The construction industry has almost come to a standstill since the economic crisis of 2008, and new construction volumes remain at extremely low levels.

▫️ Short—term rental boom - more than 170,000 properties have been withdrawn from the traditional rental market in favor of platforms like Airbnb.

▫️ Household growth — over the past 10 years, the number of families has increased by 197,000, which has further increased demand.

📈 How did this affect the market?

All of the above pushes up real estate prices. Housing shortage is becoming a driver of rising costs, especially in popular and promising areas.

What does this mean for investors?

The current dynamics shows: The demand for housing in Greece will only increase, and with it, prices.

Investing now means gaining a foothold in a growing market.