kathimerini.gr
Soaring Rental Prices in Attica Outpace Wage Growth
Rental prices in Attica, Greece, have seen average increases of up to 53.5% between Q1 2019 and Q1 2024, with the largest increases in eastern suburbs (nearly €9/sq.m. from €5.83/sq.m.), while wage increases have not kept pace.
- How do the rental price increases in different areas of Attica reflect the economic recovery and pre-existing inequalities?
- This dramatic increase reflects low rental costs in 2019 following the economic crisis. Similar rises occurred in western (51%), Piraeus suburbs (48.7%), and northern suburbs (40.5%) of Attica. In central Athens, the increase was only 12.7%, and in the southern suburbs, it was 20%.
- What is the overall impact of the significant rise in rental prices in Attica, Greece, on residents' financial stability and housing affordability?
- Rental prices in Attica, Greece, have surged between 2019 and 2024. In the eastern suburbs, average rent increased from €5.83/sq.m. to nearly €9/sq.m., a 53.5% rise. An 80 sq.m. apartment in a Piraeus suburb now costs €690, up from €460 in 2019.
- What long-term social and economic consequences might arise from the widening gap between rental costs and wage growth in Attica and other regions of Greece?
- The disparity between wage increases (16% in full-time employment between 2019-2024) and rent hikes creates affordability challenges. Considering inflation, the real increase in average net wages is minimal (€46 from 2020 to 2024), exacerbating housing insecurity for many renters, particularly in Attica and Thessaloniki (42.8% rent increase).
Cognitive Concepts
Framing Bias
The article frames the rising rental costs in a negative light, highlighting the significant increases and their impact on tenants' ability to afford housing. The use of phrases such as "δυσβάσταχτο" (unbearable) and descriptions of the situation as 'αδιέξοδη' (dead end) contribute to this framing. While presenting data on salary increases, the article emphasizes the stark contrast between these increases and the dramatic rise in rental costs, further reinforcing the negative framing.
Language Bias
The article uses descriptive language that reflects the severity of the rental crisis. Words like "δυσβάσταχτο" (unbearable) and "αδιέξοδη" (dead end) are emotionally charged. While these terms accurately reflect the lived experience of many renters, they could be replaced with more neutral terms such as 'challenging' or 'difficult' to maintain a more objective tone. The use of the word 'ωχριούν' (pale) to describe the salary increase compared to rental costs is figurative and emphasizes the disparity, which may influence reader perception.
Bias by Omission
The analysis focuses primarily on rental price increases in Attica, Greece, providing specific data points for various suburbs. However, it omits discussion of potential contributing factors to the increase, such as changes in property taxes, construction costs, or government regulations. Additionally, it lacks comparative data on rental prices in other regions of Greece beyond Attica and Thessaloniki, limiting the broader context of the situation. While acknowledging the increase in average salaries, it doesn't delve into the disparity between income growth and rental price increases across different income groups. This omission limits a complete understanding of the impact on different segments of the population.
Sustainable Development Goals
The significant increase in rental prices in Attica, Greece, disproportionately affects low-income households, potentially pushing them further into poverty. The rising cost of housing, exceeding wage growth, exacerbates financial strain and reduces the ability of vulnerable populations to meet basic needs. This is particularly concerning given that the real wage increase is minimal after accounting for inflation.