A Eurostat survey reveals that Greeks face significant challenges in affording housing, with over 26% struggling or unable to meet the high rental costs. Greece is ranked last in Europe for the wage-to-rent ratio.
The difficulties are intensified by low wages, ongoing economic hardships, and the rising cost of essentials and housing. According to Eurostat, 40-50% of an average household’s income is spent on housing expenses.
Families with children and retirees are particularly affected by these conditions. Students have also demonstrated against the shortage of dormitory spaces, with some choosing to discontinue their studies due to a lack of affordable accommodation options.
In response, the Greek government introduced a program offering interest-free loans to owners of unused residential properties to help address the housing crisis.
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Publish date : 2024-10-18 14:21:00
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The post Greece Ranks Last in Europe for Wage-to-Rent Affordability first appeared on Love Europe.
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Publish date : 2024-10-18 21:25:53
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