Rents rising in Athens and Thessaloniki during 2020
Rents rising in Athens and Thessaloniki during 2020
  Economy  |  Greece  |  Analysis  |  Residential

Rents rising in Athens and Thessaloniki during 2020

A general increase, with few exceptions, was observed in 2020 in the requested prices of real estate for sale and rent in Athens and Thessaloniki, according to a survey conducted in January by Spitogatos (, the No.1 website for real estate ads in Greece.
RE+D magazine

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Nationwide, the requested house prices increased by + 3.3% in sales and + 6.5% in rentals, while a significant decrease in prices, more than 15%, was observed in a few areas of the country.
Specifically, in terms of property sales in Attica, the requested selling prices rose to 81.2%, fell to 14.5% and remained stable in 4.3% of the areas.

In Thessaloniki, the asking sales prices also rose to 82%, fell to 14% and remained stable in 4% of the areas. The highest price increases were recorded in Tavros, Attica (+ 32.3%), as well as Doxa (+ 31%) and Triandria in Thessaloniki (+ 30.7%).

 A significant drop of around -20% was recorded exceptionally in a few suburbs, such as Drapetsona, Attica (-20.8%) and Assiros, Thessaloniki (-19.4%).

 Based on the latest data, resulting from the offer prices listed in the published ads of Spitogatos, the highest requested selling prices per square meter in Attica are observed in Filothei (€ 3,440), Sounio (€ 2,562), Legrena (€ 2,325) and Argyroupoli (€ 2,300) and Byzantium (€ 1,750), Doxa (€ 1,666), the 40 Churches (€ 1,445) and the Depot (€ 1,422) in Thessaloniki. Respectively, the lowest selling prices in Attica are recorded in Nea Peramo (Megalo Pefko) (900 €) and Elefsina (925 €), and in Thessaloniki in Lachanas (371 €) and Assiro (555 €).

The market of real estate for rent also presents an interesting picture, where the requested rental prices in Attica increased to 71.8%, decreased to 23.9% and remained stable in 4.3% of the areas, while in Thessaloniki they increased to 86.8% , decreased to 7.9% and remained stable in 5.3% of the regions. Specifically in Attica, in many suburbs, the increase exceeded 20%, such as in Sounio (+ 34%), Agioi Anargyroi (+ 24.8%), New Philadelphia (+ 21.6%), Tavros (+ 20.8%) and Lykovrysi (+ 20%). Respectively in Thessaloniki, in the area of ​​Sfagia-Ichthyoskala, the maximum increase is observed, over 20%, while a significant increase in prices is observed in many other suburbs such as Polichni (+ 16.7%), Byzantium (+ 14.6%) and Filiro (+ 14.5%).

Among the few areas in which there was a drop in rental prices compared to 2019 are some areas near the center of Athens, such as the Historic Center (-6.9%), Petralona (-7.6%), the Mets area -Kallimarmaro (-9%) and Kaisariani -11.9%, while in Thessaloniki, a significant reduction in property rental prices is observed only in Angelochori (-8.7%) and Kifissia (-4.4%).
Finally, the highest requested rental prices per square meter are still observed in the Historic Center (€ 12.22), Mets-Kallimarmaro (€ 11.03), Sounio (€ 10.32) and Alimos (€ 10.14). ), while the areas of Attica with the lowest rents, according to the latest data resulting from the published ads of Spitogatos are Agioi Anargyroi (€ 5.58), Perama (€ 5.66), Palea Fokea (6 , 34 €) and Kaminia (6,52 €). In Thessaloniki, the areas with the highest rents are Sfagia-Ichthyoskala (8.41 €), Vardaris (7.5%) and Byzantio (6.8 €), while the areas with the lowest rents are Migdonia (€ 2.92), Vasilika (€ 3.5) and Chortiatis (€ 3.72).

The CEO of Spitogatos, Dimitris Melachrinos, notes: "Although the asking prices for the sale and rental of real estate increased significantly throughout the country, in the midst of the pandemic - a phenomenon that was observed in about 80% of Attica and Thessaloniki - based on data we have collected from our platform, there are some areas-exceptions, with more notable some sought-after areas near the center of Athens, where rents are declining. We expect to see how the evolution of the pandemic, along with the possible return of tourism - and therefore the restoration of short-term rental housing - will further affect the market. "