Finding student accommodation in Athens is a midsummer night’s dream
In recent years, the search for a quality property has been a difficult process following the rapid increase in registered properties on short-term rental platforms (e.g. Airbnb), binding many real estate for this purpose, resulting in many areas of it of Athenssuch as Koukaki, but also in areas of the historic center and not only, the short-term rental phenomenon will change the map of student housing.
This year several landlords due to the increase in demand recorded in the short-term rental industry have registered their properties on the well-known platforms. The increase in registrations on the platform Airbnb in the “top” areas of the center of Athens reaches +23.60% in relation to December 2021.
According to the data obtained so far from the real estate ads posted on websites, the search student residence above the 1st floor up to 50 sq.m. with an asking rent of up to 300 euros in Athens and especially in the student areas it looks like a summer night’s dream.
From the advertisements posted on real estate websites, in the areas of the center of Athens, the residences above the 1st floor up to 50 sq.m. which are available with a requested rent of up to 300 euros, constitute only 12.47% (mainly studios 21 sq.m. – 30 sq.m.) of the total number of houses available for rent above the 1st floor up to 50 sq.m. That is, only one in 10 residences suitable for students are available with a rent of up to 300 in Athens.
The mapping of the requested rents
new world
In 2020 the cost of renting a studio apartment up to 35 sq.m. to New world ranged from €260 to €360/month, in 2021 an increase of 13.3% was recorded in the lowest price and +26% in the highest rental price, with the monthly rent ranging from €300/month to €490/month, this is fully furnished and equipped with household appliances apartment. This year there is a stabilization of the requested rents, with an increase of 2% in the upper price.
In the same area, the requested cost of renting a house of 40 sq.m. – 50 sq.m. it ranges from 430 euros to 650 euros, if it is a fully renovated house, furnished and with all household appliances. This year the supply of unfurnished homes is small, with the result that the asking rent has increased from 7.5% to 18% compared to last year.
Kalithea
An increase from 8.5% to 18.18% (at the top price) is also recorded in Kalithea, with the rental cost for an apartment of 40 sq.m. – 50 sq.m. range from 380 euros/month up to 650 euros/month, if it is furnished and fully equipped with home appliances, when last year the rental cost ranged from 350 euros/month to 550 euros/month and in 2020 from 330 euros/month up to 400 euros/month.
The requested rent for a studio apartment up to 35 sq.m. in Kallithea it ranges from 380 euros/month to 550 euros/month, if it is a fully renovated house, furnished and with all household appliances. Last year the rental cost ranged from 380 euros/month to 480 euros/month for a fully renovated and/or newly built residence.
COOKIE
In the Cuckoo zero offer of houses up to 35 sq.m. for rent. Regarding residences from 40 sq.m. up to 50 sq.m., the asking rent registers a 24% increase in the maximum price, reaching 930 euros/month from 750 euros/month last year.
NAPLES, MUSEUM, EXARCHIA
The requested rental prices in the areas of the center, such as Neapolis, Museum and Expiration, both for homes up to 35 sq.m. as well as for homes of 40 sq.m. – 50 sq.m. An increase is recorded only in the maximum requested rental price by 12.5% for a residence up to 35 sq.m. in the Neapoli – Museum area.
The cost of renting a house up to 35 sq.m. in Exarchia it ranges from 320 euros/month to 450 euros/month, and for a 40 sq.m. residence. – 50 sq.m. from 420 euros/month to 550 euros/month.
In the area of Neapoli – Museum, the cost of renting a house up to 35 sq.m. ranges from 350 euros/month to 450 euros/month, while for a residence of 40 sq.m. – 50 sq.m. from 450 euros/month to 500 euros/month.
GOUDI
The Putty choose students mainly from Medicine, Nursing and Dentistry. The requested rental prices for a residence up to 35 sq.m. they range from 380 euros/month to 480 euros/month, recording an increase from 26.6% in the lowest price to 26.3% in the highest price.
Similar increases in the requested rents are also recorded in a 40 sq.m. residence. – 50 sq.m., where the rental cost ranges from 450 euros/month to 500 euros/month, an increase of 25% compared to 2021 in the minimum rental price.
PAGRATE
In the Pagrati this academic year the cost of renting a residence up to 35 sq.m. ranging from 350 euros/month to 450 euros/month, compared to 320 euros/month to 370 euros/month in 2021, recording an increase in the lowest price by 9.3% and in the highest price by 21.6%.
The cost of renting a house of 40 sq.m. – 50 sq.m. ranging from 400 euros/month to 600 euros/month, compared to 350 euros/month to 550 euros/month in 2021, recording an increase of 14.2% in the lowest price and 9% in the highest asking rental price.
PAINTER
In the prime student area, the cost of renting a house up to 35 sq.m. this year it ranges from 320 euros/month to 420 euros/month, recording an increase compared to 2021 by 10.3% at the lowest price and by 16.6% at the highest price.
The cost of renting a house of 40 sq.m. – 50 sq.m. this year it ranges from 430 euros/month to 560 euros/month, compared to 370 euros/month to 500 euros/month in 2021, recording an increase in asking rents of 16.2% at the lowest price and 12% at the highest price.
Difficult “equation” accuracy and Airbnb
This year could be described as the most difficult year even since the years of the Memorials. The explanation that is very difficult for families who will have the pleasure of their child going to university but the school is not located in the city of family residence.
At the same time, according to EL.STAT data, housing costs increased by 35% compared to May 2021 mainly due to an increase in prices for house rents, electricity, natural gas, heating oil, solid fuels.
There are many young students who, many times and especially during the years of the Memoranda, because they knew their family’s financial situation, in order to save the family the cost of student housing and living in another city, chose schools in their city, despite the prompting . parents to choose the school they really want.
In the top areas of Athens, the Airbnb platform alone recorded an increase in registrations by 560 properties compared to last year. Today in Neos Kosmos, 592 properties (self-contained apartments – not rooms) are registered on short-term rental platforms, in Kallithea 236 properties, in Koukaki 743 properties, in Kolonaki 247 properties, in Pagrati 282 properties, in Exarchia, in Exarchia. Goudi 129 properties, Zografou 81 properties, Kypseli 191 properties and Victoria Square 82 properties.
10+1 meters to cover housing costs
According to Mr. Themistocles Baka, president of the Panhellenic E-Real Estates Network, the State can establish immediate measures to deal with the rapid increase in housing costs. As he points out, moreover, “the increase in rents also brings about an increase in revenues to the public funds through indirect and purchases attributed to the owner”.
1. Restoration of the rent tax credit for students studying in another city. The reinstatement of the rent tax credit for students studying in another city is a fair measure for the family budget and at the same time it is an indirect relief of housing costs. We should point out that depending on the case of student rent payment, the presumption of living for the family budget may also occur.
2. Reinstatement of the primary home rent tax credit at an increased rate for families with a non-primary student. By restoring the tax deduction for the single main residence, the relief of the family budget can be achieved.
3. Tax incentives for long-term leases of more than five years with a progressive tax change for income received by the landlord.
4. Tax incentives for property owners who will renew within 2022-2023 the lease agreement with the same landlord without a rent increase, especially at a time when inflation is galloping.
5. Tax breaks for landlords who reduce their rents, a measure Spain is already considering.
6. Rent subsidy to wider groups of citizens and not just to families or working students who receive the Minimum Guaranteed Income.
7. Subsidy of the electricity bill up to 100% of the increase due to an adjustment clause in the student residence with income and social criteria.
8. Extension of the electricity bill subsidy to the student residence that has not been declared as the first residence in the student’s tax return. Many parents have signed the student housing lease in their name and the student is listed as a guest. As long as proof of attendance is provided.
9. Utilization of the undeclared properties – unknown owner that will arise, as provided for in article 9 of Law 2664/1998 on the National Land Registry and will be transferred to the Greek State, as well as the properties of the Local Self-Government and the wider State that did not start. Utilization can be done in the following way:
– To assign the properties to the new housing policy organization that will be created by the Greek State.
-The new organization to announce a tender for long-term exploitation (even without rental costs for the private investor) of the properties to private individuals, with the obligation to completely renovate them, in accordance with the requirements of the State organization, and at the same time to offer them for long-term lease with commitment . rent 3 euros – 4 euros/sq.m. to students.
-Depending on the proposal submitted by the private investor, the State organization may be given the opportunity to collect part of the revenue in order to finance the housing costs of students who did not join these sections.
10. Taxation of vacant residential properties with exemption in case of occupancy. The above measure has been deployed in France, the United Kingdom, Israel, Ireland and in Vancouver and Auckland, Canada, with the long-term effect of increasing rental property.
11. Urban planning incentives to strengthen the housing policy (Cypriot model)
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