
According to the Hellenic Statistical Authority about three out of ten households in the country (28%) were obliged to repay a loan last year, while 72% are not obliged to repay any loan, excluding any mortgage loan for the purchase of the main house, according to ELSTAT data for 2020 (income 2019).
Of the indebted households, 19.6% have the obligation of one loan, 6.5% two loans, 1.7% three loans and 0.2% four loans.
Beyond that, 15.9% of poor households declare the obligation to repay at least one loan, while the corresponding percentage of non-poor households is estimated at 30.6%. The main reason for taking a loan is the purchase of assets (including home furniture and appliances and interior decoration), inside or outside the country of residence (56.3%), followed by the coverage of daily living expenses (46.5%) , education (7.9%), transportation (7.8%), vacations (7.2%), medical care (3.6%), personal loan for own business financing (1, 5%) and loan refinancing (1.4%).
The main source of financing of the above household loans is the bank or other financial institution (99.2%), followed by the private source (relatives, friends, etc.) at a rate of 1.7% and another source of 0.2%.
The average amount due, including interest and principal, of household loans for all its members, paid last month (excluding any mortgage for the purchase of the main residence) is estimated at 236.70 euros, while the corresponding amount of of poor households is estimated at 174 euros and of non-poor households at 246.35 euros.
Savings
At the end of a typical (normal) month, households save 37.4%, while 27.3% are in need of spending from their savings (whether it is bank deposits or money kept at home), 16.3% are in need of borrowing from third parties and 18.9% neither save nor are in need of dipping into savings or borrowing. The corresponding percentages of poor households are estimated at 9.4%, 30.1%, 37.4% and 23.1%.
When asked how long it would be possible for a household to maintain its current standard of living by using its savings alone (in bank accounts or at home), 33.4% of households said in less than 3 months , 17.3% from 3 to 6 months, 8.2% from 7 to 12 months and 5.9% for more than 12 months, while 35.2% had no savings. The corresponding percentages of poor households are estimated at 28.4%, 6.4%, 2.9%, 1.9% and 60.4%.
The current value (sale price) of the main household domicile, ie the amount that the household considers it would receive if it sold its main residence, is estimated at 103,619 euros, while the corresponding amount for poor households at 89,391 euros and non- poor households at 106,452 euros.
The average amount remaining to repay the mortgage loan of the main residence is estimated at 39,516 euros, while the corresponding amount for poor households at 29,436 euros and non-poor households at 41,297 euros.
Finally, 40.7% of households stated that they own some real estate outside the main residence, while the respective percentages of poor and non-poor households are estimated at 28.6% and 43.1%.


Latest News

Jerry Kalogiratos Highlights Key Role of Energy Transition and Data Demand in LNG Outlook
Energy transition and the prospects of LNG were discussed at Capital Link’s 19th Annual International Maritime Forum, during a panel discussion with Jerry Kalogiratos (Capital Clean Energy Carriers Corp.)

Santorini Safe and Ready for a Dynamic Tourism Season
Authenticity, cultural heritage, and genuine experiences at the center of Santorini's new promotional campaign

Electricity Bills: Greece Announces Reduced Tariffs Schedule
Greece will now offer lower electricity rates between 11:00-15:00 and 02:00-04:00

Chevron Confirms Eyeing Natural Gas Exploration South of Crete
Chevron recently declared its intent to explore a third area, south of the Peloponnese.

Evangelos Marinakis: A time of change from which shipping can benefit
Speaking at the 19th Annual Capital Link International Shipping Forum Evangelos Marinakis stressed the challenges that shipping faces today

Retail Trade in Greece Up 2.5% in December 2024: ELSTAT
In January 2025, the General Turnover Index recorded a 2.5% increase compared to January 2024. Compared to December 2024, it recorded a significant decline of 18.4%

Greek Fruit and Vegetable Exports Surge
Greek exporters have expressed concerns over a new draft law in Bulgaria that mandates at least 50% of products in stores to be of Bulgarian origin.

Trump Tower in Greece? Speculation Grows Over Potential Investment
In 2007, the Trump Organization explored the possibility of constructing a skyscraper complex and casino at the former Ellinikon Airport site in Athens

Was Aristidis Alafouzos, CEO of Okeanis Eco Tankers, cheering over extra earnings from carrying ‘sanctioned’ Russian oil?
Okeanis CEO Aristidis Alafouzos tried to give assurances that the company was not carrying sanctioned Russian oil - Recently published data point to the opposite

Tax Filing in Greece Surpasses Expectations
Taxpayers who submit their returns by April 30 will benefit from an increased tax discount of 4% if they opt for a lump-sum payment by July 31, 2025