Greece’s government is looking at using some of the 600,000 empty apartments and vacant properties around the country to create more housing and deal with a critical shortage that’s made rents and purchase prices soar. The problem has been exacerbated by the Golden Visa program that has seen thousands of homes and apartments bought by rich foreigners to obtain a 5-year residency permit for themselves and their families and Greek passports.
That has emptied whole neighborhoods, driven out long-time residents in favor of tourists, lessened supply and intensified demand for housing with many people being priced out of the market.
Source: The National Herald
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