10% increase in center rents – Prices per area

10% increase in center rents – Prices per area
10% increase in center rents – Prices per area

By Eleni Bota

The prices of rents in Attica are constantly increasing, as a result of which it becomes more and more difficult to find cheap housing.

In the center of Athens, prices have increased by 10% in the last year, while the cumulative increase in rents over the last three years ranges from 30 to 35%.

As he points out in Capital o Lefteris Potamianos, President of the Association of Realtors of Athens – Attica, in the past the price for leases was 6 to 7 euros per square meter. This is a thing of the past, as prices are now 10 euros per square meter on average, with a tendency to go towards 9 to 11 euros per square meter.

According to Mr. Potamianos, the large increases in rents in the last three years are due to the fact that due to the economic crisis there was a significant reduction in construction activity, resulting in no new properties coming to the market and also to the fact that many properties are in a few hands.

“Dozens of properties are currently in the hands of servicers blocked, as a result of which they cannot go on the market, further increasing the deficit in the real estate market,” he pointed out.

According to the President of the Association of Realtors of Athens – Attica, this year it is a big bet whether the high rents requested by the owners will be able to be paid in connection with the increased costs that the tenant will face due to energy costs.

As Mr. Potamianos reports, “the average rental index has now returned to the levels of 2010 when we had very expensive rents. And when we say expensive rents, we mean in relation to the average income of Greeks”.

So today, for an 80 square meter, 25-year-old, second or third floor apartment, the rent in Kypseli amounts to 650 euros, while in Patisia, to 600 euros. At higher levels, the leases vary, for the above property in Ampelokipos and Pagrati, with the monthly rent amounting to 650 euros and 700 euros, respectively.

For an 80 square meter, 25-year-old, second or third floor apartment in Mets, the monthly rent amounts to 800 euros, in Kolonaki, to 1,000 to 1,100 euros, in Lycabettus to 950 to 1,000 euros per month and in Plaka to 1,200 euros per month.

In Gyzi the rent for the above property amounts to 600 euros, in Zografou to 650 euros and in Kallithea to 650 euros per month.

Finally, in Sepolia the requested rent amounts to 550, while in Neo Kosmos to 650 euros per month.

Regarding what will happen next with the course of rents, Mr. Potamianos believes that this winter will be the main catalyst for the formation of prices.

“It’s a big bet what will happen this winter with rent prices, in relation to the increasing energy costs. If we don’t see a correction of rent prices, then they will be kept at high levels,” he says.

The article is in Greek

Tags: increase center rents Prices area

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