A significant part of the increases in rental prices occurred in 2018-2019, especially in Attica and Thessaloniki, while in 2020, due to the pandemic crisis, there was a mild decline in prices, before accelerating again from 2021 and much more from 2022 onward.
The cost of housing over the last five years in Greece has risen by 28.34%, based on a comparison of the relevant indicator included in the Consumer Price Index of the Hellenic Statistical Authority (ELSTAT).
Comparing 2020 with the end of 2025, in addition to rents, the largest increases have been recorded in energy costs, which also explain the deterioration of households’ living conditions, as more and more are forced to make cuts in heating or cooling expenses.
Correspondingly, according to a relevant analysis by Alpha Bank, in 2019-2024, the nominal disposable income of households increased by 27.5%.
However, according to the OECD, in real terms, the increase is estimated to have not exceeded 12.3%, due to high inflation from 2022 onward, and the wave of austerity that hit the economy. Therefore, the deterioration of living conditions in recent years becomes even more evident.
Especially with regard to housing costs, the largest component is the amount of rents. As ELSTAT data show, in 2025 the rent index grew by 8.44% nationwide, a sign of the serious acceleration of increases in the last two years, not only in Attica and Thessaloniki, but also in the country as a whole.
From the beginning of 2021 until the end of 2025 the cumulative increase in the rent index reached 27.5%. A significant part of the increases in rental prices occurred in 2018-2019, especially in Attica and Thessaloniki, while in 2020 due to the pandemic crisis there was a mild decline in prices, before accelerating again from 2021 and much more from 2022 onward.
However, the evolution of the cost of energy supply is also of great interest, which especially from 2022 onward constitutes an increasingly burdensome factor in the cost of housing. Overall, the cost of energy (electricity, natural gas and heating oil) has increased by 40.5% from 2020 to the end of 2025.
The largest increase was recorded in natural gas with 54.2%, although in 2025 its cost decreased by 20%. The cost of electricity follows with a 46.88% rise, while heating oil rose 36% in 2020-2025.