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The Greek System Of Home Ownership And The Post-2008 Crisis In Athens

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  • Dimitris EMMANUEL

    (National Centre for Social Research)

Abstract

In order to examine the impact of the economic crisis on the home ownership pattern, we first review the basic structural features of the Greek housing system. This necessarily involves a discussion of the distinctive home ownership regimes found in Southern European countries as well as the place of the Greek case in this comparative framework. The main relevant distinctive characteristics of southern countries are high outright ownership rates, limited bank financing and strong "familism". After reviewing these aspects of the Greek "established" housing regime with data for Athens, the paper examines the major changes that took place during both the monetary revolution in housing finance from the late 1990s to 2007 and then during the current crisis, troika control and memorandum policies for strict austerity and "modernization" of the labor market. We conclude that these changes foreshadow a shift to a sharply modified "southern" housing regime rather than simply a prolonged economic shock.

Suggested Citation

  • Dimitris EMMANUEL, 2014. "The Greek System Of Home Ownership And The Post-2008 Crisis In Athens," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 39, pages 167-182.
    • Handle: RePEc:tou:journl:v:39:y:2014:p:167-182
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    References listed on IDEAS

    as
    1. Ron Lesthaeghe, 2010. "The Unfolding Story of the Second Demographic Transition," Population and Development Review, The Population Council, Inc., vol. 36(2), pages 211-251, June.
    2. repec:aia:ginidp:dp42 is not listed on IDEAS
    3. Dan Andrews & Aida Caldera Sánchez, 2011. "The Evolution of Homeownership Rates in Selected OECD Countries: Demographic and Public Policy Influences," OECD Journal: Economic Studies, OECD Publishing, vol. 2011(1), pages 1-37.
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    Citations

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    Cited by:

    1. Thomas Maloutas & Dimitra Siatitsa & Dimitris Balampanidis, 2020. "Access to Housing and Social Inclusion in a Post-Crisis Era: Contextualizing Recent Trends in the City of Athens," Social Inclusion, Cogitatio Press, vol. 8(3), pages 5-15.
    2. Katsinas, Philipp, 2021. "Professionalisation of short-term rentals and emergent tourism gentrification in post-crisis Thessaloniki," LSE Research Online Documents on Economics 108590, London School of Economics and Political Science, LSE Library.
    3. Vassilis Arapoglou & Nikos Karadimitriou & Thomas Maloutas & John Sayas, 2021. "Multiple Deprivation in Athens: a legacy of persisting and deepening spatial divisions," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 157, Hellenic Observatory, LSE.
    4. Philipp Katsinas, 2021. "Professionalisation of short-term rentals and emergent tourism gentrification in post-crisis Thessaloniki," Environment and Planning A, , vol. 53(7), pages 1652-1670, October.
    5. Arapoglou, Vassilis & Karadimitriou, Nikos & Maloutas, Thomas & Sayas, John, 2021. "Multiple deprivation in Athens: a legacy of persisting and deepening spatial divisions," LSE Research Online Documents on Economics 108940, London School of Economics and Political Science, LSE Library.

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    More about this item

    Keywords

    HOUSING; HOME OWNERSHIP; GREECE; SOUTH EUROPE;
    All these keywords.

    JEL classification:

    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • R28 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Government Policy
    • I24 - Health, Education, and Welfare - - Education - - - Education and Inequality

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