Athens Rent Surge: Locals Priced Out Amid Economic Recovery

Housing costs in Athens have skyrocketed by over 50% since 2019, driven by foreign property investments and the golden visa scheme. Despite Greece's economic recovery, many locals face economic hardship as rents outpace earnings, forcing them out of their neighborhoods.

Athens has witnessed a dramatic increase in rent prices, surging more than 50% between 2019 and 2024 as foreign investments and golden visas exacerbate an already tight housing market.

Despite Greece's economic rebound from its financial crisis, the rise in rental costs has left many locals struggling financially, unable to keep pace with their earnings.

Residents are being priced out of their communities, uprooted by the housing demand fueled by foreign buyers and short-term tourist rentals, creating a significant hurdle in the nation's ongoing economic recovery.

(With inputs from agencies.)