After more than a decade of austerity measures, recession, and unemployment, Athens has seen a big shift in the makeup of homeownership, a shift that comes at the expense of residents and that benefits big business.
After more than a decade of austerity measures, recession, and unemployment, Athens has seen a big shift in the makeup of homeownership, a shift that comes at the expense of residents and that benefits big business. In a country where homeownership has historically been high, more and more properties have gone into foreclosure and been sold to nameless buyers as a result of Greece’s financial crisis. Public information on who owns what is not available in Greece, but it’s no secret that big foreign corporations have been buying up  entire apartment blocks to turn them into short-term holiday lets, effectively displacing many long-term residents.
The Filmmaker and the Advocate sit down with Sotiris Sideris, data journalist and co-founder of Athens Live Lab, to discuss who is buying up all the foreclosed properties in Athens and what is happening to the city as a result. Using data scraping, Sotiris has discovered that Greeks are being pushed out - their homes are being auctioned off to investors who want to cash in on Greece's allure as one of the hottest tourist destinations in the world. One low-income community has been basically emptied out of locals, replaced by those wanting a glimpse of the Acropolis and a night in the Plaka. Sotiris hopes his research on private property auctions will shed light on the growing problem and perhaps provide the first steps needed in turning things around.
