Fai, at 53 years old, wakes up every morning at 4 a.m. to go to work. Katerina, just five years younger, at 6 a.m. Stefanos an hour later. Sakis is a pensioner. He worked hard throughout his life, from a young age, hoping he would manage to secure a decent pension. Life, however, proved him wrong.
The cost of living, even for basic necessities, is “soaring,” and rents have gone sharply upward. Alone, without help, he is unable to cover his monthly expenses. The same applies to Fai, Katerina, Stefanos, and tens of thousands of other people who are now middle-aged or elderly and are forced into a decision that in Greece used to be taken only by students: to live in shared housing with people they do not know.
Thus, the model of co-living that has been applied for decades in London, Paris, New York, and other major cities due to unaffordable rents now appears to have arrived in Athens.
Thousands of interested people
Demand for shared housing in Greece is so high that in the last three and a half years, two initiatives created in Athens and Thessaloniki with the aim of finding spaces for co-living communities already count 11,000 members in the first case and 14,500 in the second.
“Interest in co-living, especially among older people, is strong due to high rents but also the very high cost of staying in nursing homes,” Sakis Kavakopoulos, who conceived and organized one of these communities—the Panhellenic Association of Beneficiaries of Co-living Friends 60+ and 60–—tells To Vima. “When we made the first call for co-living, about three years ago, 500 people showed interest,” he continues. “Now we are 14,500 people. And it is logical, because monthly income does not exceed 800 to 1,000 euros, while expenses are high. With rent increases, electricity bills, and food prices rising, we cannot live.”
The idea was born out of his personal need. “I live in Thessaloniki,” Mr. Kavakopoulos says. “I was looking for a home within my budget and couldn’t find one. My pension, together with a benefit I receive, is 730 euros. You understand I cannot pay more than 300 euros in rent. I was forced to leave the house I was living in when the owner informed me the rent would increase to 400 euros. After considerable searching, I found a place for 300 euros. But the anxiety remains—for me and for many others. In the association we have members with monthly incomes of 500 euros. If they miss even one month’s rent, they risk becoming homeless instantly. That is why we are working on the idea of co-living within communities. We are looking for spaces, talking to municipalities, exploring European programs… There are thousands of abandoned buildings collapsing in Greece. There are willing ears, and I believe we will soon reach our goal.”
Rising rents
Data from a 2025 study by the Center of Liberal Studies (KEFiM) for the EU-27 are alarming: Greece recorded the second-highest annual rent increase, at 10.1%.
In Athens, the average rent for a one-bedroom apartment now corresponds to 70.2% of the average monthly salary, while for a two-bedroom apartment the figure reaches 93.6%. When rent for a small apartment absorbs more than two-thirds of the average salary, independent living becomes extremely difficult. According to the study’s authors, the rise in housing costs disproportionately burdens those without property, makes home ownership harder, and deepens social and generational inequalities.
Searching for a roommate
Forty-eight-year-old Katerina Markou is looking for a roommate to share rent and expenses. “I started co-living six years ago because I could not afford to live alone,” she tells To Vima. “Recently I’ve been living with another woman and I am very satisfied. We share expenses, which is the main point, but I also have company at home—and I like that. However, my roommate has made other life decisions, and I need to move. Rents, especially in Athens, are very high. With fixed expenses, you need at least 800 euros a month, and I don’t have that. I cannot spend more than 250–300 euros in total. So I am now necessarily looking for a house and a roommate.”
Fifty-three-year-old Fai R. is in a similar position. As a private-sector employee earning the minimum wage, she cannot pay more than 300–400 euros in rent per month. “That is my ceiling,” she says, expressing certainty that she cannot rent a home in Athens with that amount. “Rents have ‘run away,’ and so have product prices. A person cannot live alone on one salary without owning a home. So my reasons for co-living are purely financial. Beyond that, it is nice to have company in the house. You learn to share, to cooperate, to show respect—and that is a challenge.”
Stefanos, although earning a better salary—around 1,200 euros— is also looking for a new roommate, since his current one will be leaving. “The reasons are purely financial,” he clarifies. He is younger—around 40—and more accustomed to the idea, having shared housing during his studies in England. The apartment he currently rents is in a central Athens neighborhood. “In 2021 I paid 400 euros rent. Today it has gone up to 600 euros. Fixed expenses are another 200 euros. I need co-living; I just look for someone close to my age and somewhat compatible. That is also important.”
