According to ELSTAT, a Vacant Home is One That Was Found Without Occupants on the Census Day, Due to the Following Reasons:
a) It was intended for rent,
b) It was intended for sale,
c) It was periodically used as a vacation or secondary home and was not occupied on the day of the census,
d) It was vacant for another reason, such as the owner having emigrated or relocated, or it was under construction or being renovated.
The highest number of vacant homes is recorded in the Central Sector of Athens, which includes the municipalities of (Athens, Vyronas, Galatsi, Daphne-Ymittos, Zografou, Ilioupoli, Kaisariani, Nea Filadelfeia – Nea Chalkidona). These municipalities also show the largest percentage increases in the asking prices for rental properties.
48.3% of the vacant homes were built between 1961 and 1980, and most of these properties will require at least partial renovation, if not a complete overhaul. Meanwhile, 41% of vacant homes (216,279) were built after 1981, and the majority of these are likely habitable or in need of minor interventions.
The highest number of vacant homes are found in apartment buildings (according to ELSTAT, buildings with three or more residential units).
Of the total number, 167,109 homes are up to 59 square meters, ideal for young people, students, and families, while 359,041 homes are larger than 60 square meters.
Almost a quarter of the homes in the Municipality of Athens are vacant
In the Municipality of Athens, where the highest percentage of vacant homes are those up to 79 square meters—properties suitable for young people, students, singles, and young couples—26.7% of homes have been reported as vacant. Specifically, 88,611 homes are up to 79 square meters, of which 52,297 are up to 59 square meters, homes ideal for students. These types of homes have seen rapid increases in asking prices in recent years, whether for purchase or rental.
70% of the homes (82,116) were built between 1961 and 1980, homes that definitely require at least partial renovation, while 17,929 homes were built after 1981.
Additionally, it is remarkable that the Municipality of Athens records a vacancy rate of 26.79%, at the same time as it houses the country’s largest universities and has the highest potential in the short-term rental sector.
318,681 Vacant Homes in 50 Municipalities of Attica
The pressure on prices is intensified by the fact that in high-demand areas, there is also a high number of vacant homes. Specifically, in the municipality of Zografou, an area with many students, the vacant homes number 9,706, of which 5,069 are up to 60 square meters and 7,936 are up to 79 square meters. In Peristeri and Egaleo, areas popular with students, the vacant properties are 13,212 and 8,164, respectively.
Piraeus records the highest number of vacant homes after the municipality of Athens, with 21,712 homes. Kallithea, a high-demand area, has 13,093 vacant homes, and Nea Smyrni has 7,553. In Glyfada and the municipality of Vari-Voula-Vouliagmeni, vacant homes number 7,725 and 9,389, respectively. In Vyronas, there are 5,590 vacant homes, and in Galatsi, 5,020, while in Chalandri, 4,639, and in Korydallos, 5,032.
Municipalities with the highest number of vacant properties in the 60-79 square meter range include Vyronas, Galatsi, Daphne – Ymittos, Zografou, Kaisariani, Nea Filadelfeia – Nea Chalkidona, Peristeri, Agia Barbara, Anargyri – Kamatero, Egaleo, Ilion, Peristeri, Chaidari, Kallithea, Agios Dimitrios, Elliniko – Argyroupoli, Moschato – Tavros, Vari-Voula-Vouliagmeni, Lavreotiki, Marathon, Spata – Artemis, Oropos, Piraeus, Keratsini – Drapetsona, Korydallos, Nikaia – Agios Ioannis Rentis, and Perama.
Municipalities with the highest number of vacant properties in the 80-99 square meter range include Agia Paraskevi, Lykovrysi – Pefki, Penteli, Chalandri, Alimos, Glyfada, Nea Smyrni, Paleo Faliro, Kropia, Peania, Pallini, Saronikos, Elefsina, Aspropyrgos, and Mandra.
Municipalities with the highest number of vacant properties in the 100-119 square meter range are Vrilissia and Papagou – Holargos. Meanwhile, the municipalities of Kifisia, Filothei – Psychiko, and Dionysos record the highest number of vacant homes larger than 150 square meters.
