Rising home prices continue to outpace household incomes, worsening housing affordability despite recent raises to the minimum wage, the Labor Institute of the General Confederation of Greek Workers (INE GSEE) has said in a new report.
According to the report, the average annual nominal wage rose 19.7% between 2019 and 2025 to €18,134, but inflation largely erased those gains, leaving real wages 1.3% lower than in 2021 and 31% below 2009 levels.
According to the Bank of Greece, nationwide home prices increased 50.4% between 2021 and 2025, while prices climbed about 50% in Attica and 60.7% in the Thessaloniki region.
A government draft housing strategy says Greek households now spend 34.6% of their disposable income on housing, the highest share in the European Union.
ECONOMY HOUSING CRISIS PROPERTY SALARIES
