Athens has become the biggest economic engine of Greece, producing nearly half of national output, but its own success is driving up housing costs and straining transport and infrastructure, Bank of Greece Governor Yannis Stournaras said.
Speaking at a conference organized by the newspaper To Vima at the University of Athens, Mr. Stournaras said Attica generates nearly half of the country's gross value added and has the highest per capita output, almost €30,000 versus €21,000 nationally. It accounts for about a third of gross fixed investment and almost 40% of employment, driven by services from trade and transport to finance and property.
Tourism is a major factor. In 2025, Attica was Greece's most visited region, with travel receipts up 125.3% from 2019 and visits up 63.8%. Its share of national tourism receipts rose from 14.7% to 25.8%.
The pressure is most visible in housing. Apartment prices rose 6.6% in 2025 and 5% year on year in the second quarter of 2026, worsening affordability for young people and low- and middle-income households. Mr. Stournaras said housing is also an economic problem: costs rising faster than incomes limit labor mobility and make it harder for businesses to hire. Traffic, he added, costs lost working hours, higher commuting costs and more energy use.
His answer is a new round of investment in metro, suburban rail, public transport, digital and energy networks, flood protection and urban green space, along with measures to increase housing supply.
The aim, he said, is not a strong Athens beside a weaker periphery but a competitive metropolis that drives a more productive, outward-looking Greece, with more innovation and stronger links to the regions.
His remarks echo European Commission assessments that Greek property prices are overvalued by at least 20%.