Housing affordability in Greece has come under growing pressure as home prices rise faster than incomes. New Eurostat data show that the gap between housing prices and household income has widened across much of Europe over the past decade.
In 2025, the European Union’s house price-to-income ratio was 6.8% higher than in 2015. The indicator compares changes in house prices with changes in household income per person.
House prices outpace incomes across Europe
Portugal recorded the largest increase in the house price-to-income ratio between 2015 and 2025, at 60.8%. The Netherlands followed with 34.3%, Hungary with 26.5%, Czechia with 25.8%, and Spain with 24.5%.
The ratio increased in 17 EU member states and declined in 10. It rises when house prices increase faster than household incomes, or fall more slowly. As a result, buying a home becomes less affordable relative to income.
Reporting on the Eurostat figures placed Greece sixth among EU countries for the increase in the ratio over the decade. However, published reports differ on the exact percentage for Greece, so that figure requires confirmation against the underlying data.
Greek earnings remain below the EU average
Eurostat data show that Greece’s average annual full-time adjusted salary reached €18,800 ($21,043) in 2025. The EU average was €41,500 ($46,451), more than twice the Greek figure.
Meanwhile, data from Greece’s ERGANI employment system show that the average full-time monthly salary rose by 19% between 2017 and 2025, reaching approximately €1,475 ($1,651).
OECD figures show that average annual nominal wages in Greece increased by 29.3% over the same period. However, when wages are adjusted for purchasing power, average real wages fell by about 6%.
Housing becomes harder to afford
When house prices rise faster than incomes, prospective buyers need more money to purchase a property. This widening gap can make it harder for households to save for a deposit and enter the housing market.
The figures highlight the pressure on housing affordability across Europe. In Greece, comparatively low annual earnings and declining real wages add to the challenge facing people who want to buy a home.
See all the latest news from Greece and the world at Greekreporter.com. Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email!
