Rents in Athens are on the rise: Up to 50% increase in downtown areas
For 80 square meters apartments a family of three pays 600 euros – Prices per square meter
Searching for a home to buy is like a treasure hunt tenancy
as the prices of rents have skyrocketed.
As the Star report states, the newly built apartments are within reach while the prices for smaller houses are at their highest.
In the center of Athens, the average rental price for 2022 fluctuated at 9 euros per square meter. Exactly, it was the southern suburbs with 10.7 euros per square meter while in the municipality of Thessaloniki 7.8 euros per square meter.
Rents in areas such as Neos Kosmos, Koukaki, Mets, have grown by 40 to 50% in the last 3 years, as estimated by real estate market players. The problem is mainly found in the small apartments that have become unreachable for people.
For 80 square meters apartments, a family of three pays 600 euros. “It’s hard to get out. Many hours of work. Non-stop” declares the tenant of the apartment.
Buying a house is a “distant dream” for many citizens
And if the rent looks like… a bummer, what about buying a house, which seems like a distant dream especially for the younger ones? In Kypseli e.g. for a 105 square meter apartment, the price reaches 150,000 euros. In Petroupoli, for a corresponding new one, the price reaches 325,000 euros!
Property prices in Athens
“This increase is due to the fact that for 15 years no properties have been built in the Prefecture of Attica and in Greece in general, due to the crisis. So the main thing is to build new residential units, or to unblock the properties that are closed”, says broker and president of European Brokers Kosmas Theodoridis.
The “champion” areas in high prices
“Champions” in terms of honors, Vouliagmeni me 5,769 euros per square meter, Filothei with 4,142 and Kolonaki with 4,062 euros per square meter.