RE/MAX: Greek home owhership reaches 80%
RE/MAX: Greek home owhership reaches 80%
  Greece  |  Analysis  |  Residential

RE/MAX: Greek home owhership reaches 80%

Meanwhile, 26% of people are seeking larger properties, and one quarter are looking for enhanced amenities and security, which other areas can provide.
RE+D magazine

In Greece's active housing market, over a third of respondents (36.6%) plan to relocate within two years, with a clear preference for urban housing according to a RE/MAX survey.

It has been found that over 60% of people who are planning to move are interested in urban apartments, whether they intend to buy or rent. A quarter of these individuals are motivated by economic factors, which is one of the highest percentages in Europe.

Within this group, around 8% are looking for more affordable areas, while over 6% are aiming to reduce their loan or rental costs. On the other hand, 26% are searching for larger properties and a quarter are interested in areas that offer more amenities and security.

Despite the fact that 80% of Greeks already own property, many of those who intend to move are considering renting their next home. More than 31% of these individuals are looking for long-term leases, while only 11% are considering shorter rental periods. Around a quarter of prospective buyers are seeking properties in urban or suburban areas. Interestingly, almost 3 out of 10 Greek respondents who are considering buying a property are motivated by the opportunity to provide housing for friends and family members.

Cohabitation is becoming increasingly popular in Greece due to the benefits of shared living. The most appealing reasons for choosing cohabitation include more economically efficient access to amenities (26.7%) and a reduced sense of isolation (22.7%). Furthermore, approximately 20% of survey respondents are interested in cohabitation for its flexibility, as it allows them to split their time between multiple locations.

Co-ownership is also attracting significant interest, with 67% of Greeks expressing an interest in this shared path to ownership. For many, it is a way to share maintenance costs (30.1%) and to ensure access to properties that would otherwise be unaffordable (24.9%). Less than a quarter of respondents (24.4%) see co-ownership as an attractive way to secure a second or holiday home.