Asking rents for residential properties in Athens keep an upward trend relative to regional cities
Asking rents for residential properties in Athens keep an upward trend relative to regional cities
  Greece  |  Analysis  |  Residential

Asking rents for residential properties in Athens keep an upward trend relative to regional cities

The average minimum asking rent in Athens is 8.15 euros / sq.m. and the average maximum at 11.4 euros / sq.m.
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RE+D magazine
05.04.2022

Ralling real estate property prices on a disproportionate level amongst Athens, Thessaloniki and Patras tenants. According to a Panhellenic Network of Brokers E-Real Estates survey, the potential buyer in Athens will be asked to pay an average of 66.10% higher rent compared to prospective tenant in Thessaloniki and + 82.50% compared to the prospective tenant in Patras.

The average minimum asking rent in Athens is 8.15 euros / sq.m. and the average maximum at 11.4 euros / sq.m., when in Thessaloniki the average minimum asking rent is 5.4 euros / sq.m. and the average maximum at 6.4 euros / sq.m. and in Patras the average minimum asking rent is set at 4.83 euros / sq.m. and the average maximum at 5.92 euros / sq.m.

According to the data resulting from the available real estate ads, the average minimum asking rent in Athens is € 8.15 / sq.m. and the average maximum at 11.4 € / sq.m., while the average asking rent ranges at 9.8 € / sq.m. for an apartment of 80 sq.m.-110 sq.m. above the 1st floor, built after 2000. "We understand that if an interested tenant wants to rent a house of 100 sq.m., he should know that the average rent requested will range from € 815 / month to € 1,140 / "that is, a whole 'good' salary, not counting the cost of utilities, electricity and other bills," the survey said.

On the other hand, in Thessaloniki for a similar house, the average minimum asking rent is 5.4 € / sq.m. and the average maximum at 6.4 € / sq.m., while the average asking rent ranges at 5.9 € / sq.m. for a similar residence. Therefore, the average asking rent for a house of 100 sq.m. will range from € 540 / month to € 640 / month.

In Patras, the data are much better compared to the potential tenants of Attica, without this meaning that the asking rents have not recorded increasing trends relative to 2017-2018. For a house of 80 sq.m.-110 sq.m., above the 1st floor, built after 2000, the average minimum asking rent is € 4.83 / sq.m. and the average maximum at 5.92 € / sq.m., while the average asking rent ranges at 5.37 € / sq.m. The average rental cost in the Achaean capital for the potential tenant will range from € 483 / month to € 592 / month.

According to the data on the average asking rents (Athens, Thessaloniki, Patras), it appears that the potential tenant in Athens will have to pay 66.10% higher rent for the property of similar characteristics compared to the prospective tenant in Thessaloniki and + 82.50% in relation to the prospective tenant in Patras.