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One in five Greeks fears auction of property

TAGS: Property

One in five Greek citizens fears that their foreclosed property may be auctioned, according to a survey presented on Thursday by the Hellenic Confederation of Professionals, Craftsmen & Merchants (GSEVEE).

Despite signs of improvement in macroeconomic indices, inequality between lower and medium incomes is increasing, undermining social cohesion, GSEVEE president Giorgos Kavvathas warned.

More than 70 percent of Greeks aged 18-34 years want to seek a job abroad, 51 percent of households depend on pensions and three out of four jobless people have been out of work for more than a year, according to the results of the survey conducted on a sample of 1,006 households in November 2017.

In the same survey, 14.6 percent of respondents said their income was not adequate to cover their basic needs, while it found that 61.1 percent of households were forced to make cutbacks on clothing/footwear, 48.3 percent on entertainment and 40.2 percent on food.

[Xinhua]

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