Real estate: 20 districts in which rents have grown exponentially

Rents are rising alarmingly high, in line with asking prices for properties in major urban centers such as Athens and Thessaloniki.

According to the data provided by iefimerida.gr, the growth in rental and sales prices is much higher than the growth in wages and disposable income of citizens. It is significant that even if an employee is ready to “donate” 40% of his monthly income to buy a house (payment of a mortgage), he will have to work hard… 44 years.

At the same time, real estate market analysts in Athens point out that the average rent now exceeds 500 euros for a housing of 75 square meters. This, as everything shows, creates a tendency of “flight to the suburbs”, as a result, the prices for rent and sale in the vicinity of megalopolises rise.

20 districts with the highest rent and sales price increases
According to data released by Spitogatos, asking sales prices rose 7.12% over the corresponding (3rd) quarter of 2020, while asking rental prices increased 1.3% nationwide over the same period last year.

Trends in Attica:

• The largest increases in asking prices for the sale and rental of housing are observed in areas remote from the center of Athens.
• The highest increases in asking sales prices were recorded both in the northern suburbs (Holargos and Vrilissia) and in the west (Petrupoli and Keratsini).
• The largest increase in rental prices mainly concerns coastal areas and resort areas near Athens.

In Thessaloniki:

A significant increase in sales prices was observed in areas outside the center. Triandria, Polichni and Stavroupoli recorded high levels of annual change in sales prices. The largest increases in rental prices have been observed mainly in areas remote from the city center, such as Panorama and Pylaia.

The following tables provide detailed information on the change in asking prices in Attica and Thessaloniki.

For Attica, these are the 10 areas with the highest growth in rental and sale prices:

In Thessaloniki:

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