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GreekReporter.comGreeceFEINTS: Greeks Spend Over 40% of Income on Monthly Housing Costs

FEINTS: Greeks Spend Over 40% of Income on Monthly Housing Costs

The European Federation of National Organizations Working with the Homeless (FEINTS) recently did a survey which revealed that Greeks are spending more of their income than any other EU country on housing costs.
The costs taken into consideration are everything that impacts both owners’ and renters’ pocketbooks such as property tax (ENFIA), mortgage payments, rent and utility bills. The survey showed that 42.5 percent of Greek households spend more than 40 percent of their income on such household expenses.
Along with slashed salaries due to the financial crisis and austerities, it is estimated the Greeks are spending some 440 euros a month on housing needs such as mentioned above. Over the past eight years, the minimum wage levels in Greece have dropped sharply and at the end of 2016 was estimated to be an average of 683.76 euros per month. With unemployment prevailing in Greece, many households are left to survive on a monthly single income.

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