kathimerini.gr
Greek "My Home" Program Fuels Housing Price Surge in Athens and Thessaloniki
Increased demand from the second cycle of Greece's "My Home" program resulted in a significant rise in housing asking prices during Q1 2025, with Athens city center (11.8%, "2,317 euros/sq.m") and Thessaloniki (12.6%, "2,558 euros/sq.m") experiencing the largest increases.
- What is the impact of the "My Home" program's second cycle on housing prices in Athens and Thessaloniki?
- During the first quarter of 2025, Athens city center and Thessaloniki municipality saw the highest increase in housing asking prices, reaching "2,317 euros/sq.m" and "2,558 euros/sq.m", respectively. This 11.8% and 12.6% rise is attributed to the second cycle of the "My Home" program, increasing demand for eligible properties.
- How did the "My Home" program's eligibility criteria (price, size, year of construction) influence the price increases across different Athenian areas?
- The increased demand driven by the "My Home" program, focusing on properties up to "250,000 euros", "150 sq.m", and built before 2007, directly impacted prices in Athens and Thessaloniki. Other areas also saw increases, ranging from 7.4% to 9.5%, reflecting the program's broad effect on the market.
- What long-term strategies should the Greek government implement to address the unintended inflationary consequences of the "My Home" program and ensure affordable housing?
- The significant price increases highlight the program's unintended consequence of inflating housing costs rather than increasing supply. Future government interventions should prioritize expanding housing supply to mitigate this effect and ensure the program's effectiveness.
Cognitive Concepts
Framing Bias
The article frames the price increases as largely a consequence of the "My Home" program, emphasizing the program's role in increased demand. While this is a significant factor, the presentation might unintentionally downplay other factors that could contribute to rising prices. The headline and introduction immediately connect the price increases to the program, setting a specific interpretation for the reader.
Language Bias
The language used is largely neutral and factual, presenting data on price increases in various areas. However, phrases such as "significant increases" or "sharp increase in demand" subtly emphasize the magnitude of the changes, which could be toned down for greater objectivity.
Bias by Omission
The analysis focuses primarily on price increases in specific areas, potentially omitting discussion of other factors influencing the housing market such as construction costs, interest rates, or government policies beyond the "My Home" program. The impact of these omissions on a complete understanding of the price increases is unclear. Further investigation into these factors would improve the report's completeness.
False Dichotomy
The article presents a somewhat simplified view by focusing heavily on the impact of the "My Home" program on price increases. It doesn't thoroughly explore other possible contributing factors or counterarguments. This simplification might lead readers to overestimate the program's influence and underestimate other market forces.
Sustainable Development Goals
The article highlights a significant increase in housing prices in Athens and Thessaloniki due to the government program "My Home". This price surge disproportionately impacts lower-income populations who are less likely to afford housing, exacerbating existing inequalities. The increased demand driven by the program, while aiming to increase homeownership, inadvertently leads to higher prices, making homeownership even more unattainable for vulnerable groups.