House rental price hikes across the country are now softer, as – with the exception of a few areas of high demand and low supply – it seems the period of big rallies from year to year has passed, at least for the time being.
According to this year’s annual rent price survey of the network of 93 REMAX Hellas estate agencies, based on actual transactions, rents are rising 3.8% on an annual basis in Greece, approaching the rise of inflation.
Still, the increases recorded translate into particularly high rates for the majority of tenants. For example, in Greater Athens, the cost of renting an average apartment of 80 square meters, capable of meeting the needs of a family of four, is now €735/month or €9.2/sq.m., recording a 4.3% increase compared to last year. In Thessaloniki, there is a 3% increase, translating to to €7.7/sq.m. or €616/month.
In the rest of Greece, which includes the other large urban centers and popular tourist destinations, the average rental price is €7.8/sq.m. (€624/month), marking an annual increase of 4%. It should be noted that the larger the surface of an apartment, the proportionally lower the average price/sq.m., while the opposite happens the smaller the property.
