The International Monetary Fund has urged Greece to impose levies on vacant homes and expand renovation programs to tackle a worsening housing affordability crisis, according to policy recommendations submitted to the government, as reported by Kathimerini.
The proposals form part of the IMF’s latest annual assessment of the Greek economy and focus on boosting housing supply by making better use of unused properties, particularly in high-demand urban areas.
The fund recommended introducing taxes on vacant homes to incentivize owners to rent or sell them, while also calling for the expansion of renovation subsidies based on income criteria.
Housing prices in Greece rose by 7.8% in 2025, according to central bank data, driven by strong demand, limited construction activity and underutilization of existing housing stock.
The IMF said affordability pressures were further intensified by a mismatch between supply and demand, including the impact of short-term rental platforms on local housing markets.
Official data show that in 2021 nearly one in four residential properties in the Attica region, which includes Athens, were vacant, amounting to more than 526,000 units. In central Athens alone, vacant homes accounted for nearly 27% of the total housing stock.
Many of these properties are owned by private individuals, but also by public entities, banks and debt management firms.
However, policymakers face challenges due to outdated data on housing use, with the latest comprehensive figures dating back several years.
To address this, authorities are preparing to launch a new real estate registry that will require property owners to declare how their assets are used, including whether they are occupied, rented or vacant.
Greece has been grappling with rising rents and housing shortages in recent years, particularly in major cities, as economic recovery, tourism growth and investment demand put additional pressure on the market.
The government has not yet announced whether it will adopt the IMF’s proposals.