Greece has the lowest housing reserve in the EU.

Affordable housing in Greece is among the lowest compared to other European countries, according to the latest "Property Index 2023" study by Deloitte. This significant supply shortage, combined with rising prices and high demand, has led some of the strongest real estate companies and developers to strategically strengthen their positions in the housing sector.

Economists note that Greece is lacking housing, as there are only 285 homes for every 1,000 people. A similar situation exists in Israel, where there are 295 homes per 1,000 people, and in the United Kingdom with 371 homes. In other European countries, the situation is different, with Bulgaria having 624 homes per 1,000 people, and Portugal and France with 585 and 552 homes, respectively.

However, Germany and France remain the absolute leaders, occupying the top spots in terms of available housing. Germany has 43.4 million properties, while France has 37.6 million homes, which is the second-largest stock. Spain comes in third with 26.1 million homes. Significantly smaller property stocks are found in Estonia, followed by Lithuania with 1.45 million and Ireland with 2.12 million homes.

Intensive construction activity is also observed in Europe with the launch of new residential complexes. For example, Israel leads in the number of completed apartments with 6.95 homes per 1,000 people. Following are Austria and Lithuania with 6.47 and 5.81 new homes per 1,000 people, respectively.

According to a study, it is very difficult for Greeks to obtain a loan for purchasing a new apartment, especially for renters who will have to save up their salary for more than 12 years. Overall, housing prices in Greece remain among the lowest in Europe, with the average price per square meter of a new apartment being 1,478 euros in 2022. In Athens, the average price was 2,972 euros per square meter, in Thessaloniki it was 1,959 euros, and in Patras it was 1,056 euros per square meter.

In the rest of Europe, the situation is different, with Dublin where apartment prices reach €14,740 per square meter, followed by Paris (€14,622) and Munich (€11,400). However, the most unaffordable city for housing in Europe is the capital of the Netherlands - Amsterdam. For example, to buy a home in this city, one would need to save up approximately 15.8 times the average annual salary. Next is Bratislava with 14.5 annual salaries, and Prague with 14.2 annual salaries.

In Norway and Belgium, the least amount of salaries needs to be saved for purchasing a home. For example, in Norway, it takes 4.7 annual salaries, while in Belgium, it's 4.3 years. The study also points to a rise in rental rates in Europe, with the average rent in Athens being 10.2 euros per square meter, in Thessaloniki 6.6 euros per square meter, and in Patras 5.5 euros per square meter.

Overall, the real estate market situation in Greece and other European countries remains tense, with competition for affordable housing and rising prices.