The stable dynamics of student housing in Greece
Finding a suitable student home in Greece has always been a laborious process for parents and students, whether freshmen or seniors, as it required finding a home that would meet some basic quality criteria but at the same time be affordable for the family budget. students rely in whole or in part on the financial support of the family.
However, in recent years in the country finding student housing has been more difficult when it comes to moving to a different city from the student’s city as after many years of economic crisis experienced by the country and the Covid-19 disease pandemic that followed, The financial means of many Greek households to support students were severely limited.
Student residence
The dormitory solution that many young students are looking forward to, due to the still high rents of dormitories that meet student criteria, is a solution that can serve a fairly small part of the student population as places are few and admission criteria are quite strict.
As a result, only 2.94% of the 423,505 students in the country’s 35 universities are served with a place in a dormitory or rented hotel.
Rise in rent
Rental prices for so-called typical student apartments continue to rise significantly even after the pandemic period, although the number of apartments available for long-term rent is also low as many landlords withdraw their properties from their short-term platforms. during the pandemic.
Despite the fact that tourism has declined, the number of students admitted according to university data remains stable even if a number of students now choose their city to study in order to reduce costs and many times this means that they will sacrifice. the object of study he desires.
Results of studies that took place in large student areas of Athens and in large cities of the province that have large university institutions with equally large numbers of students, showed that student properties along with Logistic Centers seemed to be slightly affected by the pandemic in relation to other . market and maintain their momentum as demand and rental prices rise steadily.
Real Estate Opportunities
The stability of this market naturally attracted the interest of large real estate groups who now have in their investment program for Athens and large cities of the province the creation of private apartment buildings in the standards of state dormitories but with more quality services. something that already exists in countries with huge student populations such as the United Kingdom.
The competition from the larger availability of student apartments in cities and areas with university institutions has many owners in actions such as renovations and remodeling of their countries without this meaning that this leads to lower prices as demand continues and this is significant. . .
Especially in the academic year 2021-2022, the first-year students of the previous year, together with the first-year students of this year, turned to the search for student housing, something they were not able to do during the outbreak of the pandemic in 2020.
It is worth noting that students from abroad seeking short-term student accommodation, such as Erasmus students, are also an important part of the market but also the competition in finding student accommodation as only in 2020 the program arrivals were 20,133 with prospective increases in the next 5 years, something that, if utilized, could be a profitable investment in the long run in the real estate sector.
Other approaches
Also noteworthy is the phenomenon of some households and parents who, having the financial means, make apartment purchases for the period of student life looking forward to the development of the individual after graduation.
In loans according to banking data, families often find it more advantageous to buy with a loan of a student house whose installment is less than a monthly rent and in the long run the house will remain in their hands.
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