For a young couple looking for a 50 to 70 square meter home, the rental price is about the same as the base salary.
The cost of renting property in the Greek capital has skyrocketed, and young men and women are faced with a choice: either live alone, barely making ends meet, or postpone “disconnecting from parents” until later, as incomes of young professionals do not increase, but in in the near future, and even worse, are likely to decline due to inflation.
For a young couple who is going to rent a house with an area of 50 to 70 square meters, the rental price is “unaffordable”. Considering the cost of electricity, heating and utilities, in many cases the project “to live together” seems to many a pipe dream.
In four districts of Athens – Pagrati, Chalandri, Kallithea and Zografou – rental prices for housing with an area of 50-70 sq.m. are from 8 to 10 euros per square meter. That is, for a house of 60 square meters, the cost is about 500 euros.
And of course, the price jumps depending on whether the house is new or renovated, as well as whether it has household appliances and furniture.
Kallithea
But let’s look at one area after another. Kallithea traditionally offers a large availability of “economical” apartments and houses. At the same time, nearby areas, such as Nea Smyrni and Paleo Faliro, are much more expensive, and in the southern suburbs the situation is completely changing. Thus Kallithea, as an area close to the center of Athens (which is a “solution” for those who can’t find a home closer to the city center without completely emptying their wallet), began to attract the interest of potential tenants.
The price of a property with an area of 50 to 70 square meters is from 8 to 9 euros. If the house is restored, then the price rises even above 10 euros per square meter. For an apartment of 73 sq. m in Kallithea, built in 1968 on the 4th floor, without heating, the rent will be 450 euros, i.е. a little over 6 euros per square meter.
Pagrati
The situation is similar in Pagrati. In particular, this area has a large number of houses ranging from 50 to 70 square meters. On the other hand, rising petrol prices, as well as the need to be closer to the center of Athens, have increasingly attracted tenants in recent years.
Thus, the demand is high and the price is about 10 euros per square meter. Another factor playing a role in the high rental rates in the area is the shift of owners from long-term to short-term leases. All this led to an increase of about 20% compared to prices three years ago. We found an advertisement for renting a house with an area of 70 square meters in an apartment building from 2008, in the central part of Pagrati, energy class A, with aluminum frames, an armored door, but without means of heating, except for air conditioning, for a rent of 700 euros, i.e. . 10 euros per square meter.
Zograf
An area with consistently high demand. Many students prefer it to be closer to campus. The constant demand and the availability of houses in the area determined the prices for renting real estate from 8 to 10 euros per square meter. However, an apartment on the ground floor of a new apartment building of about 70 square meters with a parking space next to the Zografu Park will cost 800 euros.
Chalandri
In the northern suburbs of Athens, in Chalandri, prices are quite high. The area is a champion among northern suburbs. This is due to the fact that there is a metro station, a large market, numerous restaurants and even a bike path. Halandri also does not have a large supply of houses from 50 to 70 square meters, while there are quite a few houses intended for short-term rental, so the owners use them by the day. This practice naturally leads to the fact that the already small amount of property available for sale is now even smaller.
Chalandri is also an area where prices are around 10 euros per square meter. Now, due to the lack of housing for rent, you have to pay even more for renting a house, especially if it is new. A house of about 60 square meters in an old apartment building, with one bedroom and a separate living room and kitchen, will cost 600 euros.
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