At its lowest point over time, its percentage property in Greece, since, based on the latest available data from Eurostat, in 2021 it was 73.3%, which is even lower than the 73.9% on which it has been “locked” since 2018. With debt management — as part of the repayment of bad loans — underway in recent years, it is clear that home ownership will continue to decline.

At its peak, in 2005, home ownership reached 84.6% of the population. This was a period when the mortgage market was at its zenith, access to bank financing was very easy for almost all households, and at the same time, selling prices were constantly rising. This was certainly followed by a debt crisis, both public and private, with the result that most of the houses bought in the 2000s ended up in the hands of banks or were sold by owners in subsequent years to service the corresponding credit debt. The result of the above process is a steady decline in the level of home ownership. In particular, already in 2010, the relative percentage decreased to 77.2%, and then decreased to 75.8% in 2013, to 74% in 2014 and to 73.9% from 2016 to 2020.

It has fallen to 73.3% in 2021, even below the 73.9% it has been “locked” to since 2018.

A study by D. Emmanuel, conducted in 2013, recorded that 37.8% of owners purchased housing by inheritance or at the expense of their parents, 30.3% – on credit and 17.5% – without borrowing. But when other forms of family support, such as a financial contribution, are recorded, the percentage of cases where a family contributed to the purchase of a private home reaches 56.4% of the total. This family contribution has become much more difficult as household disposable income in Greece has fallen by 33% between 2008 and 2016.

Somehow, according to ELSTAT, Greece has one of the highest percentages of young people aged 18-34 living with their parents. In fact, according to a related analysis by Eteron (Institute for Research and Social Change), this percentage remains high when we focus on the 25-34 age group, while it drops significantly in other European countries, indicating a significant delay. in the smooth housing process of young people in Greece. This delay has become even more pronounced since 2014, with the rate for the 18-34 age groups reaching 66.7% in 2017 and 69.4% in 2019, compared to 58.4% in 2008. Accordingly, , the share of homeowners among young people aged 25 to 34 has fallen from almost 25% in 2005 to just 11% in 2018 (Eurostat). This delay in accessing home ownership is due to more difficult labor market conditions, rising house prices and a lack of welfare policies in previous years, Etheron said.