Greece Sees 27% Drop in New Home Construction Following the End of Building Bonuses
Court Ruling Triggers Slowdown in Greece’s Housing Market. Credit: Flickr/ Sandrinelle/ CC BY NC SA 2-0
Greece’s housing market has suffered another blow following a lengthy disruption triggered by a Council of State decision last December, which annulled the construction “bonuses” permitted under the New Building Regulation (NOK).
The ruling created months of uncertainty in the permit process, effectively freezing new projects until the Greek Ministry of Environment and Energy introduced corrective legislation mid-year.
Sharp decline in new housing permits
The impact is now reflected in official data. According to the Hellenic Statistical Authority (ELSTAT), only 20,946 housing permits were issued nationwide between January and July 2024, a 26.6% drop compared to 28,541 during the same pe...










