Alittle over 80% of Greek houses remain uninsured, according to data released by the Hellenic Association of Insurance Companies for 2023.
At the end of 2023, there were 1,159,332 insured residences in the country, with the data suggesting the percentage of insured residences increased significantly by 1.2% in the last three months of the previous year.
This increase is mainly attributed to the 10% discount on the Single Property Tax (ENFIA) legislated by the government for insured residences last summer.
At the same time, 52.4% of Greek houses are insured against earthquakes and weather-related phenomena, while the remaining are insured either for one of these or solely for fires.
A recent study on Greek Real Estate showed that buyers in the market for a new house opt for affordable older units within their financial limitations, aiming for their acquired properties to gain value appreciation through renovation and energy upgrades down the road.
Residences units (apartments, single-family homes, and maisonettes) were the top choice among buyers, while land plots and agricultural plots followed in buyer preferences. There was less interest in offices and shops, as these markets generally cater to a specific investment audience.
According to the Hellenic Statistical Authority (ELSTAT) and Eurostat, Greece’s homeownership rate in 2021 stood at 73.3%, slightly above the European Union’s average of 70%. This is a large difference compared to 2005 when 84.6% of Greeks owned their houses.
Source: tovima.com
Latest News
Surging Gold Sees High Sovereign Liquidation Rate in Greece
Bank of Greece (BoG) reports nearly 36,000 buy back transactions this year up until the end of September in the country
Heating Oil Prices in Greece Range from €1.16 to €1.39 per Liter
In Athens, the average price of heating oil, which became available to the public as of Oct. 15, stands at 1.67 euros per liter, while in Thessaloniki, it is a little higher at 1.77 euros per liter
Homeownership Increasingly Unattainable for Young Greeks
Compared to two decades ago, the difficulty of finding housing has risen dramatically, with homeownership rates in Greece plummeting since 2005
S&P Delays Greek Economy’s Credit Review, Keeps Rating at BBB-
Moody’s took a “stricter” stance compared to the other agencies when in Sept. of 2023 it refused to grant Greece the investment grade
The History of Greece’s Tallest Buildings
By the end of 2025, the rejuvenated Hilton Athens—now rebranded as "The Ilisian"—will begin a new chapter as an innovative multi-use complex, featuring the Conrad and Waldorf Astoria brands of hotels and residences.
Alonissos Top Pick for Popular French Website
The list also includes Chios, Kythira, Ithaca, Kea, and Patmos
Greece’s Tourism Success Tied to Expanding U.S. and Asian Markets
Its findings reveal that travelers to these destinations are becoming increasingly demanding, expecting high-quality travel experiences while also seeking authenticity.
Greece to Simplify Procedures for Solar Installations
Under the new procedures, businesses no longer need to seek approval from Greece's electricity regulator or obtain an environmental permit as part of the application process for installing solar panels.
HCAA Reports 6.1% Rise in Passenger Traffic January-September
Regarding domestic and international flights, the total number of passenger arrivals and departures amounted to 9,984,655 in the first nine months of 2024
Greece Tops Europe in Rent Payment Struggles
Families with children are even more affected, with 26.3% of these households struggling to pay rent.