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Athens among the top cities in the world for moving – The prices of rentals

According to Greek Reporter, Athens is among the top cities in the world to move to in 2022, according to a survey conducted by Property Guides , a UK-based property company.

The company selected the top 22 cities to buy property in 2022 and Athens is in second place, just behind Malaga, Spain.

The criteria for ranking Athens as one of the best places to move to in 2022 included employment rate, safety, cost of living and healthcare.

Property Guides, a real estate company, claims that the list of the best cities to move to in 2022 is as follows, in order of priority:

  • Malaga, Spain,
  • Athens, Greece,
  • Clonakilty, County Cork, Ireland,
  • Austin, Texas, USA,
  • Puglia, Italy,
  • Limoges, France,
  • Porto, Portugal,
  • Valencia, Spain,
  • Nicoya Peninsula, Costa Rica,
  • Paris, France.

Rental prices are 135% lower in Athens than in the UK, the survey suggested.

As well as unrivalled archaeological sites and a strong cultural element, Athens is full of life and activities, for all days and times of the week.
(Source: https://greekreporter.com/2022/01/22/athens-top-city-world-to-move-to/)

Rental prices in Athens are low, compared to a country that has big differences, especially in its economy, compared to Greece.

Nevertheless, upward trends continue to be seen in residential rental prices in Attica, although in the periphery rents show stability or small increases.

The lockdown and telecommuting of the last 2 years have boosted demand. From region to region, of course, one finds variations in terms of the requested square footage and the age of the properties.

Attica

In the centre of Athens, apartments aged 20 – 25 years old, with an area of 51-80 sqm, are in first demand, with the average rent amounting to 450 euros. In West Attica, demand is for apartments of the same size and age as the centre of Athens, with the average rent being considerably lower at 340 euros.

In Piraeus and its neighbouring areas, the average rent is 410 euros, with demand concentrated on properties up to 20 years old and with an area of 51 to 80 square metres.

In the northern and southern suburbs, average rents are almost twice as high as in the rest of Attica, at 800 and 750 euros respectively, while properties with a larger surface area of 81 to 120 square meters are in demand, with maisonettes remaining at the top of the list.

In the first place of the characteristics that determine the choices of interested tenants is the good condition of a property, i.e. if it has been renovated and has new windows (79% & 62% respectively). Also playing a decisive role in the decision to rent are whether the property has a parking space (65%) and whether it is close to public transport stops (50%).

There was a positive bias in rental prices across all areas of Attica. The centre of Athens, the northern and southern suburbs recorded increases of 11.6%, 16.7% and 13.9% respectively, while Piraeus and western Attica recorded increases of 12.7% and 4.2% respectively.

(Source of information: https://www.moneyreview.gr/business-and-finance/economy/48279/enoikia-oi-fthines-kai-oi-akrives-perioches-se-athina-thessaloniki/)

  • 06 March 2023
Athens Living