Unlocking Athens: The Struggle and Potential of Vacant Properties

Athens is a city of contrasts - ancient ruins beside modern high-rises, bustling streets next to empty buildings. One of the most pressing urban issues facing Athens today is an entrenched housing crisis, which continues to intensify. Despite a growing need for affordable housing, many properties are vacant in the city, contributing to economic and social disparities. 

The issue of vacant properties in Athens is deeply tied to economic, legal, and structural factors. According to the latest data, 31% of homes in the city are vacant. However, the city has not been surveyed since 2011, when this figure was produced. The lack of up to date information about this problem contributes to the barriers to addressing it. There is an urgent need for comprehensive research into the current situation. 

One of the primary reasons for the prominence of vacant properties in the Atheninan landscape is the financial crisis of 2008. During the crisis and in its aftermath, financial difficulties and bankruptcies meant that construction on new buildings was halted, leaving half-finished shells scattered across the city. Furthermore, older buildings became dilapidated, as the costs of upkeep became unrealistic. Lastly, Greek inheritance laws often create situations where property ownership is split between a large group of distant relatives. These properties end up in limbo, as all parties need to agree on their use. Some are donated to institutions who do not have the capacity or scope to manage these properties. 

At the same time, real estate speculation has exacerbated the problem. After the financial crisis, when the cost of property plummeted, large investors and foreign buyers saw an opportunity to purchase properties at low prices, engaging in "land banking" - holding properties until their value rises rather than developing or renting them. As our Social Housing Lead explained, "They take these properties and they wait for the value to go up, and this is when construction starts again. The only people who are really able to buy these properties are large organisations with extreme amounts of money." 

The bureaucracy, logistics and condition of these vacant properties highlight a complex social issue but they could also be an opportunity to implement social housing and challenge the financialisation of the market.

The Consequences of Vacancy

Vacant properties represent wasted economic and environmental resources. If they were restored and occupied, they could generate rental income, create jobs through renovations, and stimulate the local economy. Bringing vacant properties back into the housing market only benefits the local community in the long-term, however, if they are made accessible. In Athens, when vacant properties are renovated, they are often made into hotels or Airbnbs, encouraging gentrification, driving up rents and pushing out long-term residents. 

Government policies like the "Golden Visa" programme that encourages foreign investment, has contributed to the increase in rental prices. Wages, however, have remained stagnant, making housing unaffordable for many, especially young people and vulnerable groups. It is particularly frustrating to see so many empty homes while homelessness and housing insecurity remain prevalent. 

Solutions: A Path Forward

Government Initiatives:

The Greek government has begun pilot programs aimed at turning vacant properties into social housing. For example, a project in Thessaloniki is renovating 30 apartments for affordable housing, with plans for expansion. In Athens, however, a similar initiative has struggled due to insufficient funding —offering only 10,000 euros per property, which is not nearly enough for substantial renovations. More comprehensive policies, such as tax incentives for property owners who renovate and rent their properties affordably, or penalties for those who leave homes vacant, could push things in the right direction.

Community-Led Solutions: Our Pilot Project

Beyond government action, grassroots initiatives play a crucial role in bringing vacant properties back into use. Mazí has been providing community-based housing for male refugees and asylum seekers, prioritising safety and choice. This year, we have launched a new pilot project that extends that work, allowing us to support more people and diversify our funding streams.

We are developing a sustainable model for affordable housing, which will include renovating vacant properties with energy-efficient upgrades and offering them as social housing. As our Social Housing lead emphasised "If these properties were actually brought back into use as social housing, then it’s the perfect model. There are hundreds of thousands of these properties lying all over the city."

By proving that community-driven initiatives can work, we hope to inspire other organisations, policymakers, and the public to push for broader systemic change. "If we show that social housing in Athens is feasible, it will create traction and more pressure on the government to invest in solutions," a team member explained.

The challenge of vacant properties in Athens is complex, but it is also an opportunity. With the right mix of policy changes, financial incentives, and community-driven initiatives, these empty buildings can become homes, workplaces, and community spaces once again. By addressing the root causes of vacancy and prioritising social housing, Athens can create a more inclusive, sustainable, and vibrant urban future. We at Mazí are excited about our pilot project. We invite policymakers, investors, and fellow community organisations to join us in making this vision a reality. Together, we can turn vacant spaces into thriving homes and ensure that safety and choice remain at the heart of our housing solutions.

Written by Lara Stauss and Adam Taylor