According to the latest analysis of over 6.7 million tax returns filed in 2024, the vast majority of Greek taxpayers own at least one residence and a car, with spending habits ranging from everyday consumer purchases to luxury items such as private school tuition and yachts.
Property Ownership vs. Cost of Living
More than 3 million households declared ownership of residential property. Of these, 2.3 million live in their own homes, while 1.84 million rely on rentals or housing provided without charge. Around 700,000 households reported owning a holiday or secondary residence.
In stark contrast to the rising cost of rent and basic utilities for low-income earners, these figures suggest a divide between property-owning households and those living paycheck to paycheck.
Luxury and Leisure in a Time of Hardship
Nearly 97,000 taxpayers declared yacht ownership in 2024, and over 18,000 reported having private swimming pools — 377 of them indoors. Meanwhile, 131,000 families sent their children to private schools, paying an average of €4,591 annually in tuition. Another 2,510 households declared paying for domestic staff such as nannies, tutors, and drivers.
More than 83,000 individuals also reported holding assets abroad — including foreign bank accounts, real estate, or other investments — underscoring a level of global wealth held by a small but significant portion of the population.
Income and Spending Patterns
On the income side, 1.08 million taxpayers declared a combined €4.69 billion in rental income from property, averaging €4,300 each. Another 1,672 taxpayers earned €20.34 million in income from foreign real estate — an average of €12,000 per person.
Loan repayments remain a significant burden, with 1.66 million taxpayers making mortgage or consumer loan payments totaling €6.24 billion. The average annual loan payment was around €3,700.
Meanwhile, electronic payments are now the norm. Over 7.5 million taxpayers spent nearly €60 billion via debit, credit, or prepaid cards in 2024, reflecting both the digitization of the economy and sustained consumer activity — even as many households report financial strain.
A Country of Contrasts
This tax data, while comprehensive, underscores a deeper issue: the economic reality for many Greeks is shaped not just by their tax return, but by low wages, job insecurity, and rising living costs. The presence of luxury goods and high-end spending exists alongside widespread poverty, particularly among youth, pensioners, and low-income workers.
As Greece continues to recover from over a decade of financial crises, the divide between those with property and assets and those scraping by grows increasingly visible — both in the data and in daily life.
(Source: To Vima)