The housing crisis in Greece is intensifying, leading to a steady increase in rental prices. In April 2025, the average monthly rent reached around 440 euros, marking a historic high for the country.
This is reported by Finway
Reasons for the Increase in Rent
Experts cite increased demand and limited supply as the main factors driving up housing costs. A significant number of property owners prefer short-term rentals through platforms like Airbnb, which reduces the number of available apartments for long-term living. The situation is further complicated by sluggish activity in the construction sector, which is unable to replenish the market with new properties. Additionally, many residential units are being removed from the market due to debts and are being prepared for auctions.
“The cost of rent is at a very high level compared to the incomes of the average household.”
Most Expensive Regions and Market Trends
According to the SPI price index from Spitogatos, a noticeable increase in rental rates was recorded across Greece in the first quarter of 2025. The Cyclades remain the most expensive, with an average cost of 14.2 euros per square meter. They are followed by the southern and northern suburbs of Athens, the center of Athens, and Piraeus.
In Attica, Vouliagmeni leads with a price of 20 euros per square meter. Also among the top expensive areas are Filothei, Voula, Kolonaki-Likovrisi, and Paleo Psychiko. In Thessaloniki, the most expensive areas are Vardar-Lahanokipi (11.1 euros/sq.m) and the city center (10.8 euros/sq.m).
Halkidiki is also among the most expensive regions due to its long tourist season and the variety of short-term rental offerings.
Experts note that the housing crisis could worsen further if measures are not taken to increase supply and stimulate the construction of new housing.