Municipal property assets and the reporting gap in E9 declarations

The study highlights not only the social and structural challenges facing housing in Greece, but also the pressing need for greater transparency, institutional innovation, and effective support in addressing the evolving needs of households, thereby laying the groundwork for a more sustainable and equitable housing market.

Housing constitutes an intergenerational challenge, as younger generations experience greater financial pressure and more limited housing choices. At the same time, older age groups—despite higher levels of homeownership—are increasingly required to respond to growing needs related to mobility, housing upgrades, and financial adjustment.

According to the study, the average monthly amount absorbed by housing costs for individuals aged 36–55 stands at €443, based on their net monthly income. It is noteworthy that within this same age group, 37% of respondents report a net monthly income between €900 and €1,300. In contrast, housing costs are significantly more burdensome for the 25–35 age group, with 20% of respondents spending more than 40% of their income on housing.

Lack of Transparency in the Greek Real Estate Market – The Need for Property Registries and Digital Platforms

The Greek real estate market is characterized by a widespread lack of trust and a perception of insufficient oversight. A majority of respondents believe that undeclared practices distort the market and negatively influence prices. This perception creates a broad social consensus around the need for transparent and effective solutions.

At the same time, there is strong social acceptance of tools aimed at recording and monitoring property ownership. Respondents demonstrate a positive attitude toward unified property registries and digital transparency platforms, indicating that the market is ready for innovative interventions and institutional reforms.

Municipal Properties and the “Gap” in Property Declarations (E9)

Rising housing pressure is also translating into stronger demand for institutional solutions, particularly from tenants and transitional households, which demonstrate an increased need for intervention and the adoption of transparent tools. These dynamics create opportunities for services, policies, and products that strengthen and facilitate housing mobility.

Mr. Vasileios Iliopoulos, CEO of BluPeak, speaking to ered, noted that one of the institutional interventions that could substantially increase housing supply is the utilization of properties owned not only by the Greek State but also by municipalities across the country. The available property stock that could potentially be developed or repurposed is considered significant; however, its mapping by local municipal authorities remains at a very early stage, making its immediate utilization for addressing the housing crisis particularly difficult.

An indicative example of this situation is that several municipalities either have not submitted property declarations (E9 forms) for their real estate assets or maintain incomplete and outdated records. As a result, although many municipal authorities demonstrate a clear willingness to contribute to addressing the housing problem, in practice they are unable to channel properties into the market for development or use, due to the absence of a comprehensive and systematic record of the assets they own.

As Mr. Iliopoulos further emphasizes, the issue becomes even more significant in light of Presidential Decree 54/2018, which requires municipalities to publish financial statements in accordance with the International Financial Reporting Standards (IFRS). As of 1 January 2026, compliance with this framework has become mandatory following the expiration of the transitional period granted to local government organizations for adjustment.

The incomplete mapping of municipal real estate directly affects the municipalities’ Fixed Asset Registry, creating regulatory compliance issues with the requirements of the institutional framework. Expanding a national Property Registry to include not only privately owned properties but also those owned by public sector entities and the broader public administration could significantly contribute to the effective utilization of thousands of currently underused properties.