Cities or El Dorados?

Greece’s real estate market is booming again – and so are housing rates. The race to snap up property in big cities is similar to what has already happened in other cities around the world where the cost of renting or buying a house is now out of reach for most middle-income earners.

Different interventions are being tried in the market with the express purpose of preventing such a vital commodity as housing from becoming a luxury.

Like on other issues, we need to start asking ourselves now that there’s still some time whether we want our cities to become El Dorados of the real estate market and time-shared tourist theme parks.

We need to ask whether the state has a duty to ensure that housing is affordable for young people whose only asset is the paycheck they take home.

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