One in Three Greek Houses is Vacant



greek real estateAccording to figures by the Hellenic Statistical Authority (ELSTAT), residences in Greece exceed 6.3 million, however only 65.7% of them are used.

Figures from the 2011 census show that residences in Greece amount to 6,384,353. Out of these, 6,371,901 are conventional residences that can be used (99.8%) while 12,452 (0.2%) are non-residential constructions (shacks, sheds, boats etc.)

ELSTAT reveals that 65.7% of residences are used and 34.3% are vacant. Among vacant houses, 729,964 (11.5%) are vacation homes, 621,881 (9.8%) are secondary residences, 453,901 (7.1%) are offered for rent, 355,071 (5.6%) are vacant for other reasons and 88,996 (1.4%) are offered for sale.

The majority of houses are located in the regions of Attica, Central Macedonia and the Peloponnese. A large portion of the residences (22.6%) were constructed between 1971 and 1980, while 44.7% are apartment buildings.

Furthermore, most residences are between 60 and 79 square meters (1,573,911 homes) and 80 and 99 square meters (1,494,508). Most residences (2,429,591) have three rooms, 60% have autonomous central heating and 17.5% non autonomous central heating.

Among European countries, Portugal (31.9 %), Malta (31.8%), Bulgaria (31.4%) and Cyprus (31.1%) also record high rates in vacant houses, while Poland (2.5%), the UK (3.6%) and Luxembourg (7.2%) record the lowest percentages.


1 COMMENT

  1. Between foreclosures, unemployment and latent symptoms of austerity, it’s no surprise there are so many vacant dwellings. The real impact is obviously the loss of property tax revenue. But there is also a “silent killer” for apartment owners that are saddled with increasing maintenance costs (koinochrista) that must be paid by the few remaining owners/occupants. The other concern is the appearance of empty buildings and vacated flats in the neighborhood. The proliferation causes a drop in property values and is an open invitation for squatters to move in. If concrete could burn there would have been a conflagration of historic proportion throughout the region to collect insurance.

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