Thousands of parents and university students are in intensive search of accommodation and it is with a sense of satisfaction and relief that they have seen their years of hard work and sacrifice rewarded with successful admission to higher education.
For a large number of admissions, however, this success is accompanied by the need to move to the city where their new school is located, which does not coincide with the city where they have lived and grown up to date.
In this context, parents and young people are looking for that solution that fits and is affordable for their family budget. Most turn to the rental solution of either a small studio apartment or a larger apartment for cohabitation. However, there are a not insignificant number of parents who are also considering buying a house, looking at the longer term.
The example of parents from Crete with two children is typical: one is already studying in Athens and the second is starting his studies in the capital this year. “In this case, as we calculated, if an opportunity is found, the market is advantageous about the rent. It is an investment that will stay with the children who are planning to take their first professional steps in Athens,” they told us.
Renting from 250 euros for a 30 sqm studio up to 500 euros in the greater Athens area
But where do the prices for renting and buying apartments in the greater Athens area, which concentrate a large part of the total number of admissions from all over Greece, fluctuate today? What are the variations compared to 2023? What are the rental prices in Thessaloniki, Patras and Heraklion, Crete?
In particular, according to data from the Golden Opportunity online platform, the following emerge:
The average rental price for apartments in the greater area of the capital up to 60 sq.m start from 8.28 euros per square meter in Acharnes (which means, for example, that for a 30 sq.m. studio the rent is 248 euros) and reaches up to 16.56 euros per square meter in Voula (which means that for a 30 sq.m. studio the rent is 496 euros).
Rent increases in the first half of 2024 in Athens, as well as in Thessaloniki, Patras and Heraklion, Crete, in many cases exceed 10% compared to the first half of 2023. According to the comparative data, the increases are also large in the areas with the lowest rent prices per sq.m.
In more detail, rental prices per sqm in the first half of the year for apartments up to 60 sqm per area in the Greater Athens area, according to data from Golden Opportunity, start from:
Acharnes 8.28 euros per sq.m (+4.8% compared to the first half of 2023), Artemis 8.72 euros per sq.m (+8.2% increase), Keratsini 8.8 euros per sq.m (+8.2% increase), Keratsini 8.8 euros per sq.m.m (+7.6%), Ilion 8.95 euros per sq.m (+11.2%), Petroupoli 8.96 euros per sq.m (+4.9%), Korydallos 9.m (+8.40%), Haidari 9.85 euros per sq.m (+8.10%), Nea Ionia 9.95 euros per sq.m (+7.20%)
Following: Aigaleo 10.11 euros per sq.m, Kalyvia Thoriko 10.17 euros per sq.m Heraklion Attica 10.32 euros per sq.m), Piraeus 10, 44 euros per sq.m, Ag. Dimitrios 10,57 euro per sq.m, Gerakas 10,63 euro per sq.m, Metamorphosis 10,7 euro per sq.m. Pallini 10,73 euro per sq.m Kallithea 10,81 euro per sq.m. Central Tome Athens 10.88 euros per sqm (an increase of 9.1%), Moschato 10.9 euros per sqm, Zografou 10.96 euros per sqm, Vyronas 11.18 euros per sqm.m, Porto Rafti 11.21 euros per sqm, Hlioupoli 11.24 euros per sqm, Nea Smyrna 11.43 euros per sqm and Kholargos 11.48 euros per sqm.
The highest prices are in Voula 16.56 euros per sqm, Vari 14, 67 euros per sq.m Glyfada 13.69 euros per sq.m, Hellenic 13, 48 euros per sq.m, Kifisia 13, 45 euros per sq.m, Alimos 13,26 euros per sq.m, Meliscia 12,9 euros per sq.m.m Maroussi 12, 63 euros per sq.m, Halandri 12, 63 euros per sq.m, Paleo Faliro 12,23 euros per sq.m, Vrilissia 12,15 euros per sq.m, Nea Erythrea 12,14 euros per sq.m, Ag. Parasfada 12.07 euros per sq.m, Saronida 11, 82 euros per sq.m, Dafni Attica 11, 68 euros per sq.m, Kaisariani 11, 6 euros per sq.m and Argyroupoli 11.56 euros per sq.m.
strongly (11.56%) and
strongly (11.56%).
Thessaloniki-Patra-Heraklion: Significant increases in rents
In Thessaloniki, the average rental price for apartments up to 60 sqm is 9.46 euros per sqm in the first half of 2024, an increase of 6.7% compared to the same period last year. In Patras the average rental price is 9,14 euros per sq.m., an increase of 13,1% and in Heraklion Crete 9,85 euros per sq.m., an increase of 10,5%
Buying property – Large increases in prices compared to last year in all regions – Over 50,000 euros for a 30 sq.m. studio apartment
The lowest prices for buying an apartment up to 80 sq.m in the wider area of the capital start at 1710 euros per sq.m in Acharnes, an increase of 10.30% compared to last year. For example, for a studio apartment of 30 sq.m. an average purchase price is 51,300 euros.
Prices reach up to 5,507 euros per sq.m. in Voula, which means that for a 30 sq.m. studio apartment the market reaches 165,150 euros.
Prices according to the database of the CE (https://www.xe.gr/) which includes thousands of properties are (from highest to lowest):
Voula 5507 euros per sq.m (+6,80%), Elliniko 5110 euros per sq.m (+47,10%), Glyfada 4546 euros per sq.m (+12,20%), Vari 4390 euros per sq.m (+3,30%), Alimos 4131 euros per sq.m (+7,90%), Vrilissia 3961 euros per sq.m (+12,20%), V.V.m (+25.60%), Argyroupoli 3604 euros per sq.m (33.10%), Palea Faliro 3576 euros per sq.m (+5.50%), Kifissia 3509 euros per sq.m (+6.50%), Moschato 3389 (+15%), Ag.m (+5.40%), Kalyvia Thorikos 3127 euros per sqm (+4.40%), Porto Rafti 2999 euros per sqm (+12%), Piraeus 2910 euros per sqm (+44.9%), Cholargos 2905 euros per sqm (+1.80%), Agios Dimitrios Attica 2900 euros per sqm (12%).
The following regions: Ilioupoli 2861 euro per sqm, Nea Smyrni 2841 euro per sqm , Pallini 2834 euro per sqm, Daphne Attica 2825 euro per sqm , Heraklion, Attica 2724 euro per sqm ,Kallithea 2689 euro per sqm , Kaisariani 2661 euro per sqm, Byron 2503 euro per sqm, Zografou 2474 euro per sqm , Metamorfosi 2454 euro per sqm, Nea Ionia 2452 euro per sqm, Koropi 2283 euros per sqm, Galati 2262 euros per sqm, Petroupoli 2209 euros per sqm, Egaleo 2159 euros per sqm, Haidari 2150 euros per sqm, Ilion 2112 euros per sqm, Peristeri 2093 euro per sqm Keratsini 1982 euro per sqm, Nikaia 1926 euro per sqm, Artemis 1913 euro per sqm, Korydallos 1894 euro per sqm (increase 29,80%) Acharnes 1710 euro per sqm
In Thessaloniki the average selling price for apartments up to 80 sqm is 2381 euros per sqm, an increase of 10% compared to last year. In Patras the average selling price is 1615 euros per sq.m (an increase of 28,30%_ and in Heraklion Crete it is 2076 euros per sq.m, an increase of 7,40%
Suggestions to parents and students
Some basic advice to new students and parents is given by POMIDA on its website. Addressing young students and parents it recommends:
– Don’t panic. You don’t have to rent a house right away, nor do classes start the day after the results are announced.
– Don’t look for a house outside the University gate, (common mistake of parents). A few streets or a few stops down, there are many houses waiting for you, discover them.
– Organize your search and don’t rush to end up at the first one you see, but book the first one you see immediately.
– If they ask you for a rent that is beyond your means, don’t accept it, because you will definitely find what you are looking for a little further down the road.
– There is no restriction on either the amount of the security deposit or the number of rents advanced.
– Arrange to live with other students you know, in duplexes, triplexes and generally large apartments, which always rent much cheaper than smaller ones. The student rent allowance for flat-sharing is much higher than the regular allowance.
– Check carefully and without haste the house you have found and the condition in which it is in. If it is at night ask to see it in daylight.
– Complete and sign a lease document, both you and the parent concerned, but be careful, never pay rent or deposits unless you are sure that the person asking for them is indeed the owner of the house you are renting.
– Stay away from so-called “information agencies” that promise that if you pay them a certain amount up front, they will immediately find you a house just the way you want it. Most of the time their “information” is outdated and of no value.
– Go only to official real estate agencies, where you do not advance any amount as a fee until after you sign a lease and take possession of the house.
