Home market is still a top priority for their Greeksas demonstrates a recent Alpha Bank survey, which captures the main reasons why stakeholders are planning to obtain real estate in the near future.
Of 12% of Greeks who plan to acquire a home next time, the majority intends to use it as a main home, confirming the constant value maintained by ownership in Greek society. It is followed by a 15% saying that the market is aimed at meeting the family’s mortgage needs, while 12% see the property market clearly as an investment. At the same time, 9% plan to acquire a country house, an indication that the desire for leisure residences still has a dynamic.
However, when we focus on the reasons why buyers choose to acquire a main house, the intention of investing in the future stands out, with 45% declaring this factor as decisive. The change in marital status, which was reported by 38% of the participants, also plays an important role. The need for a larger home due to personal needs, such as the creation or expansion of family, is also a powerful incentive for 23% of interested parties.
At the same time, the desire for independence from the paternal home, the search for a home near the workplace, the need for a more friendly or functional environment, and the change of professional status are also included in the reasons that push the property market.
The findings of the research clearly illustrate that, despite the financial uncertainty of recent years, the home remains a foundation stone both for meeting basic needs and as an investment tool. Greek society continues to attach particular importance to acquiring a privately owned housing, either in securing the family or as a strategic positioning for the future.
How to find a solution to the housing issue
The housing policy in Greece was historically characterized by a limited range, focusing mainly on the institution of “consideration” and targeting specific social groups, mainly vulnerable households. The Labor Housing Organization (OEK) had a limited role, focusing mainly on lending rather than the construction of houses. With the start of the economic crisis, the operation of the OEK was interrupted, leaving a gap in housing policy for about a decade (Division, July 2023).
In recent years, the issue has returned to public dialogue with several interventions and initiatives. Among them were “My Home 1” programs and “renovate-I do.” At the same time, the government introduced measures to delineate the sharing economy and amended the Golden Visa granting framework, increasing, inter alia, the limits.
The medium-term budgetary-acting plan 2025-2028 includes additional measures to tackle the housing crisis. New interventions are aimed at increasing the real estate market, with tax incentives for owners to transfer their properties from short -term to long lease. In addition, a ban on new short -term leases, for at least one year, was introduced in three central areas of Athens. At the beginning of 2025, my “home” programs and “renovate-I do” were restarted on improved terms.
In addition, a new social consideration program with a public and private partnership is expected to begin soon. The project will use public real estate and plots for the construction of new homes, with a percentage remaining in the public for renting or selling at lower prices than the market. Finally, the state budget of 2025 provides for an increase in the housing allowance for regional universities, while the construction of student halls in five regions (Thrace, Thessaly, Crete, Western Macedonia and Attica) is under way.
In addition to the above, the interaction of government policies with the initiatives of the domestic banking system is also considered imperative. These efforts should aim to stimulate housing funding, as well as facilitate the access of prospective buyers, mainly young and vulnerable households, to acquire first home.
In particular, relevant initiatives could include the development of specialized housing products on privileged conditions for young people and families, as well as the creation of public-private partnerships for the construction of economically affordable or social housing. In such shapes, the state could provide land or unused buildings, banks to secure funding to builders, and houses available for purchase or rent at lower prices – even free, based on income and social criteria.
The activation of European funds to subsidize such actions, without burdening taxpayers, could substantially boost the equity of investment plans.
Finally, one of the key conclusions is that housing needs are multi -dimensional and personalized. Therefore, banking products should be adapted to the needs of each household, with financial institutions taking an active advisory role as citizens’ financial allies.