Το αντίστροφο στεγαστικό δάνειο ως μηχανισμός ενίσχυσης του διαθέσιμου εισοδήματος των συνταξιούχων : μακροοικονομικές επιπτώσεις και στρατηγικές διάθεσης στην ελληνική αγορά

Μπαρντακτσή, Άννα - Μαρία

Master Thesis

Author

Μπαρντακτσή, Άννα - Μαρία

Date

2025-11-27

Abstract

This thesis examines the reverse mortgage as an alternative mechanism for enhancing the financial security of elderly households in Greece, within a context of rapid population ageing, declining pension benefits, and very high homeownership rates. The purpose of the study is to analyse the conditions, benefits, risks, and institutional requirements for the successful introduction and adoption of reverse mortgages, by connecting international experience with the specific social and economic characteristics of the Greek environment. Methodologically, the study is based on a systematic literature and regulatory review. A comparative analysis of major international reverse mortgage models (United Kingdom, United States, Spain, and Germany) is conducted, alongside an examination of the European regulatory framework with emphasis on the Insurance Distribution Directive (IDD) and its transposition into Greek law. Additionally, illustrative numerical examples are provided to demonstrate loan balance evolution and inheritance options, offering a practical understanding of the product’s operational dimension. The findings show that public acceptance of reverse mortgages is strongly influenced by transparency, consumer protection, trust in financial institutions, and the safeguarding of family property. International evidence confirms that successful implementation requires robust supervision, mandatory counselling, and safety mechanisms such as the No Negative Equity Guarantee. In the Greek context, the product can also function as a complementary social policy instrument, reducing fiscal pressure on the pension system and enabling more efficient use of idle housing wealth. Furthermore, the potential release of underutilised housing units may positively affect housing affordability for young households, thereby contributing indirectly to demographic renewal. Overall, the study concludes that the development of a socially balanced and institutionally secure reverse mortgage system is feasible in Greece, provided it is implemented with full transparency, strong regulatory oversight, and clear communication to elderly borrowers.

Postgraduate Studies Programme

Πρόγραμμα Μεταπτυχιακών Σπουδών στη Διοίκηση Επιχειρήσεων για Στελέχη (Executive MBA)

Department

Σχολή Οικονομικών, Επιχειρηματικών και Διεθνών Σπουδών. Τμήμα Οργάνωσης και Διοίκησης Επιχειρήσεων

Number of pages

Language

Greek

URI

https://dione.lib.unipi.gr/xmlui/handle/unipi/18663

Collections

Τμήμα Οργάνωσης και Διοίκησης Επιχειρήσεων

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Except where otherwise noted, this item's license is described as
Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 3.0 Ελλάδα