Vacant Properties in Greece: Unlocking the Country’s Hidden Housing Potential

Vacant Properties in Greece: The New Housing Challenge and the Measures to Unlock Them

Recording, tax incentives, and housing solutions for 2025

Greece faces one of the most paradoxical housing phenomena in Europe: hundreds of thousands of vacant homes remain unused while demand for housing — especially in Athens and Thessaloniki — is at its highest level in decades.

According to the latest census and recent data from the Athens University of Economics and Business, more than 500,000 dwellings in Attica are empty, while nationwide the number of inactive properties exceeds 2.2 million.

Unlocking this vast housing stock has become a central pillar of Greece’s housing policy, with the potential to provide affordable homes for students, young families, and households struggling with high rents.

What qualifies as a “vacant” property

A vacant property refers to any residence that remains uninhabited and unrented for an extended period.

Typical cases include:

• Inherited properties with multiple co-owners
• Homes under legal or tax disputes
• Older apartments requiring renovation before being rentable

Unlike the “empty” units recorded by the Hellenic Statistical Authority (ELSTAT), vacant properties are economically inactive — generating no income and contributing nothing to the housing supply.

Where most vacant homes are located

Athens and Attica

The Attica region has the highest density of closed residences:

• 526,000 vacant homes, according to ELSTAT
• A 2025 AUEB study estimates that 27% of Athens’ housing stock is inactive
• Most are small apartments of 40–60 m², precisely the type in greatest demand today

Thessaloniki

The city has begun recording approximately 16,000 empty units, aiming to identify those suitable for social housing programs or public-private partnerships with owners.

Roughly 14% of the city’s dwellings remain unused.

Rest of Greece

Regions such as Central Macedonia, Thessaly, and Western Greece have seen some of the country’s sharpest increases in empty housing between 2011 and 2021.

On the islands, vacancy rates are also high, largely due to seasonal homes and holiday residences left unused for most of the year.

The causes behind the phenomenon

• Complex co-ownership and inheritance disputes
• Lack of financial incentives for renovation and leasing
• Tax uncertainty and high maintenance costs
• Owner reluctance to rent out properties due to fears of damage or eviction issues
• Limited access to financing for refurbishing old buildings

How the government plans to reactivate them

1. Digital Property Register (MIDA)

The government is launching the Property Ownership and Management Register (MIDA)  a digital database recording all properties in Greece: occupied, vacant, or rented.

The platform will integrate data from AADE (the Independent Authority for Public Revenue) and electricity providers, enabling authorities to cross-check the actual use of each property for the first time.

2. Tax incentives and penalties

• Three-year tax exemption for owners who lease previously vacant homes
• Consideration of an “inactivity tax” or double ENFIA for properties left unused without justification
• Eligibility for renovation grants and energy-efficiency subsidies to bring properties back to market

3. Social housing from “orphaned” estates

Around 7,000 properties from unclaimed inheritances and foundations will be converted into affordable housing for young families and vulnerable groups.

This marks Greece’s first organized attempt to recycle idle housing stock for social benefit.

The role of the private sector

Reactivating vacant properties cannot rely solely on the state.

Real estate professionals, investors, and digital platforms can serve as crucial mediators between owners and tenants.

For instance, ReWize already provides digital tools that enable:

• Verification of a property’s legal and rental readiness
• Assessment of potential rental yields
• Integration with renovation and subsidy programs

These solutions help turn inactive assets into productive, income-generating homes.

The benefits of reactivating vacant housing

• Expands housing supply and helps stabilize rental prices
• Revitalizes degraded urban areas through renovation projects
• Increases property values for owners
• Delivers social impact by reducing housing pressure and inequality

Conclusion

Vacant properties represent the largest untapped resource in Greece’s real estate market.

Success depends on finding the right balance between strong incentives for owners and targeted housing policies that bring these homes back into circulation.

If Greece manages to “unlock” even a fraction of these unused dwellings, the impact would be transformative — more available homes, lower rents, and a better quality of life for thousands of residents.