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Fri, Aug

Greece Unveils Plan to Create Affordable Housing Through Public-Private Partnerships

Greece Unveils Plan to Create Affordable Housing Through Public-Private Partnerships

Hellenic Shipping News

In response to rising housing costs and mounting socioeconomic pressures on Greeks, the

In response to rising housing costs and mounting socioeconomic pressures on Greeks, the Greek government has launched an initiative to boost the supply of affordable housing by partnering with private developers to build on publicly owned land.

Housing costs in Greece—especially in major cities like Athens and Thessaloniki—have soared due to limited supply, a surge in short-term rentals, and years of underinvestment in public housing. Meanwhile, many state-owned buildings sit empty, neglected, or inaccessible.

Greece hopes to address the problem by leveraging public land and incentivizing private-sector construction. A new draft law from the Ministry of Social Cohesion and Family, which is currently in public consultation until August 20, proposes a sweeping framework to deliver low-cost housing to young people, low-income families, and others at risk of housing exclusion. It seeks to activate thousands of unused or underutilized public properties across the country by offering them to private contractors in exchange for constructing modern, mixed-use residential buildings.

The Model for Affordable Housing

The plans specifies that developers will cover the construction costs, and in return, they receive partial ownership of the completed building—between 30% and 70%, depending on project terms. The remaining units are handed over to the state and designated as affordable homes.

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