One in four houses in Athens is vacant. What it means for the market
According to recent research, almost 25% of the residences in Athens remain empty – that is, they are not occupied by owners or tenants. This percentage is remarkably high and raises concerns among market experts and the government alike.
What is behind the vacant houses;
- Many houses are old, unrenovated, or neglected, leading owners to neither utilize them nor be able to offer them on the market.
- Taxation combined with renovation costs and strict energy/construction laws make repairs difficult or unprofitable for many.
- Some properties remain forgotten due to inheritance issues, legal complications, or disagreements among co-owners.
Impacts on the market
- The reduced availability of operational residences pushes rental and sale prices upward, as demand remains high but supply diminishes.
- Areas with many vacant houses more frequently exhibit phenomena of degradation, abandonment, or lack of investment interest.
What can be done
The government is considering new measures to reintegrate vacant properties into the market, through incentives for renovation, subsidies, and better tax policies for those who revive them.
Conclusion
The phenomenon of vacant houses in Athens directly affects the development of the market and the quality of life in the city. Highlighting and utilizing this reservoir of properties will be key to future balance in the housing market.