Greek opposition party ELAS has unveiled a sweeping proposal to tackle the country's worsening housing crisis, arguing that soaring rents and property prices are putting homeownership and affordable housing increasingly out of reach for younger generations.
The measures were presented by party leader Alexis Tsipras in a video posted on social media, where he answered questions from citizens about housing affordability and the growing number of young adults who continue to live with their parents because they cannot afford a home of their own. Tsipras said the party's objective is to ensure that housing remains "a right for everyone and not a privilege for a few."
At the center of ELAS's plan is the creation of a non-profit public agency that would manage mortgage loans and state-owned real estate assets. The party says the agency would seek to convert currently vacant and underutilized properties into social and affordable housing, with a particular focus on younger households.
The proposal also calls for tax penalties on owners who keep residential properties empty, reflecting concerns that thousands of homes remain unused despite a chronic shortage of affordable housing.
In a move aimed at curbing speculative demand, ELAS proposes imposing a steep tax on property transfers to companies based outside the European Union. The party also advocates tighter regulation of short-term rental platforms such as Airbnb, particularly in neighborhoods where tourism-driven demand has been blamed for pushing up rents and reducing the supply of long-term housing.
Perhaps the most far-reaching proposal is the abolition of Greece's Golden Visa program, which grants residency rights to non-EU nationals who invest in Greek real estate. Critics have long argued that the scheme has fueled property price inflation in major cities and popular tourist destinations, while supporters contend that it has attracted much-needed foreign investment into the country.
