Source: European Parliament
Question for written answer E-001414/2025/rev.1
to the Commission
Rule 144
Nikos Pappas (The Left)
According to a recent case study on Thessaloniki,[1] from 2008 onwards, sky-rocketing property prices were accompanied by excessive housing loans, which, at the onset of the economic crisis, resulted in mass foreclosures and the ownership of a large number of properties being transferred to the banks. With a view to limiting financial losses, the banks avoided putting these properties on the market, whereas they are now actively reappearing through the banks’ own brokerage mechanisms or sales to investment funds. The thousands of unsold properties, which are mostly small and old, remain out of use by society. This exacerbates the decline of the already limited housing stock and acts as a catalyst for increased market and rental prices.
In light of the above, can the Commission answer the following:
- 1.How does the Commission intend to address the artificial holding of real estate by banks and funds, which hampers accessibility to affordable housing, especially in urban centres, and examine whether this practice constitutes a form of unfair competition to the detriment of both tenants and private owners?
- 2.Does it intend to regulate, at EU level, the activities of investment funds and servicers in the housing sector, in order to ensure transparency and the protection of social housing?
- 3.How could the Commission help ensure that national tax incentives (e.g. exemptions for renovations) do not create unequal treatment in favour of large landlords to the detriment of tenants and vulnerable groups?
Submitted: 7.4.2025
- [1] Hatziprokopiou, P., Mangou, I. Siatitsa, D. (2024), Assessing vacant homes in the Municipality of Thessaloniki. Thessaloniki Social Atlas, https://thessalonikisocialatlas.arch.auth.gr/en/items/prosengizontas-tis-kenes-katoikies-sto-dimo-thessalonikis/