In Greece, the housing crisis is becoming more severe, with the government now considering the introduction of a punitive tax on owners of vacant properties. Despite previous efforts by the state to encourage property owners to put these dwellings back on the market through various tax breaks, these measures have failed to produce any significant results. Properties remain uninhabited, and rents in major cities continue to climb amid a shortage of available housing.

Officials are now exploring tougher measures that would see empty properties subjected to a heavier annual tax burden. Drawing on policies in place in other European countries such as France and Spain, the government is evaluating the introduction of a levy based on a percentage of the theoretical rental value of unoccupied dwellings. The idea is to push owners to either sell or rent out these empty properties to meet the rising housing demand.

Meanwhile, the political opposition has called for a more comprehensive approach that would provide support and incentives for property owners to put their vacant homes on the market, rather than imposing fines. They argue that punishing property owners is not a sustainable solution and advocate for the creation of schemes that make it easier and more attractive for them to offer their unused properties for rent.

At the heart of this crisis is the growing frustration of young people who struggle to find affordable housing. According to a recent public opinion survey, many young Greeks are unable to afford the high rents in cities due to low wages and stagnant income levels. This has pushed some to consider leaving the country in search of better opportunities abroad - a trend that lawmakers warn will have serious long-term consequences for Greece’s economy and demographics.

Additional data from real estate agencies indicate that over 30% of urban residential buildings in Athens and Thessaloniki remain empty. Meanwhile, rental prices have soared by more than 20% over the past year alone. This has exacerbated a housing shortage that threatens to stifle Greece’s recovery from the financial crisis of the previous decade. MPs have voiced concerns that without a concerted effort to unlock these properties, the crisis will only deepen, driving even more young Greeks to seek their future elsewhere.