Greek Universities to Build Housing Amidst Crisis
Universities on Greek islands are expanding their housing provisions to combat soaring rental costs that affect both students and faculty. Institutions are acquiring land to build new housing complexes and repurpose dormant properties. The initiative aims to alleviate pressure on local rental markets and help attract and retain academic talent.
- The rectors of five island universities, including the University of the Aegean and the Ionian University, have jointly proposed measures to combat the housing crisis, such as fast-tracking the construction of dormitories and encouraging regional governments to subsidize the rental of hotel rooms for students. - In response to the crisis, the University of Crete is undertaking a major public-private partnership project to build 2,833 new rooms and apartments, creating up to 4,846 beds on its campuses in Heraklion and Rethymno. This project is supported by a €95 million loan from the European Investment Bank and is part of a broader €700 million national plan to increase student housing capacity. - The Ionian University in Corfu has signed a 30-year lease for a historic 508 sq.m. property in Corfu Old Town, which will be converted into student residences. - Rental prices for student-appropriate housing on the islands have seen significant year-over-year increases, with Chania experiencing a 15.6% rise and Corfu a 9.2% increase for the 2024-2025 academic year. The average rent for a student apartment (up to 65 sqm) in Corfu is around €600. - The housing shortage is so severe that it is reportedly impacting student enrollment at island universities, with some prospective students choosing not to attend after facing the difficulty and high cost of securing accommodation. - The Greek government has increased the student housing allowance to €1,500, and up to €2,500 for students cohabiting outside of Athens and Thessaloniki, to help alleviate the financial burden on students. - The Church of Greece has agreed to provide land for the construction of new student dormitories to help address the nationwide shortage. - The Hellenic Mediterranean University currently provides 296 beds in Heraklion and 37 across its other locations in Crete, but specific details on their expansion plans have not been announced.
