The gap between Greek households’ real incomes and housing prices has been widening in recent years, worsening housing affordability, particularly in major urban centres, according to data presented by *Kathimerini*.
Although the average annual nominal wage rose by 19.7% between 2019 and 2025, reaching €18,134, that increase has been largely eroded by high prices and inflation. According to the annual report by INE GSEE, the average wage remains 12% lower than in 2009 in nominal terms, while in real terms — that is, in terms of purchasing power — it does not exceed €15,000. This means it is 31% lower than in 2009 and even 1.3% lower than in 2021.
Greece has the highest housing cost burden in the EU, with households spending an average of 34.6% of their income on housing in 2025.
Over the same period, housing prices rose at a much faster pace. The Bank of Greece housing price index increased by 50.4% nationwide between 2021 and 2025, with prices rising by around 50% in Attica and 60.7% in Thessaloniki. Similarly, data from the Property Transfer Value Register show a cumulative 55% increase in the average value of homes between 2020 and 2025, with even sharper increases in Attica, at 71.4%, and Central Macedonia, at 62%.
The pressure is also reflected in housing costs: Greece records the highest rate in the EU, with households spending an average of 34.6% of their income on rent or mortgage payments, utility bills, maintenance and home insurance.
Source: Kathimerini
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