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Phase-change materials of the Ge-Sb-Te (GST) system are promising for non-volatile memory and programmable photonics owing to their reversible amorphous-crystalline transitions. Among these materials, GeSb<sub>4</sub>Te<sub>7</sub> stands out for its optimal balance of thermal stability, switching speed, and energy efficiency. The properties of GST materials are critically dependent on structural defects, particularly germanium vacancies that occur during synthesis and operation. Using density functional theory, we demonstrate that Ge vacancies and Ge-Sb intermixing significantly influence the electronic and optical properties of GeSb<sub>4</sub>Te<sub>7</sub>. Positive binding energies reveal vacancy clustering tendencies, which systematically reduce p-type degeneracy and widen the band gap (from 0.47 to 0.67 eV at a 2.7% vacancy concentration). Consequently, the metallic optical response in the visible range diminishes, as reflected in the less negative real dielectric function. Furthermore, we extend our investigation to the fundamental building block of this material system, the GeSb<sub>2</sub>Te<sub>4</sub> monolayer. By studying controlled interlayer displacements of Ge and Te atoms in an otherwise stoichiometric slab, we elucidate the switching mechanism in the two-dimensional limit. The pristine monolayer exhibits semiconducting behavior with an indirect band gap of 0.74 eV, while layer sliding induces a semiconductor-to-metal transition accompanied by pronounced changes in the optical absorption spectrum. The asymmetric energy barrier (1.69 eV forward, 0.60 eV reverse) suggests favorable reversible switching via structural distortions alone, without requiring chemical modifications. The obtained results, spanning from defective bulk crystals to structurally distorted monolayers, are important for the targeted optimization of GST material properties in memory devices, optical elements, and emerging nanoscale phase-change applications.