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Now it is rare to find a house, suitable for a family, with a monthly rent of up to 550 euros, in almost the entire prefecture of Attica.
The demand refers mainly to apartments of 70 square meters or more, with at least two bedrooms and that are higher than the first floor.
“When a property with specific characteristics and especially when it is a property after 1995 is published on an advertising portal, the demand is very high. In the first 5-10 minutes of the publication, the telephones we receive are really hundreds ”, the president of the Panhellenic Network of Realtors E-Real Estates, Themistoklis Bakas tells ERT.
Now, as he explains, there are few areas in Attica prefecture that have the specific characteristics and have been built after the period 1990-1995. Most of the properties available to rent are older properties, he adds.
In the center of Athens, the areas that have properties for rent for 550 euros per month and refer to apartments of 70 m2 and more, with at least two bedrooms, are mainly unpopular, such as Patisia, Victoria Square, Attica Square. , Pedion tou Areos, Kolokynthos, Metaxourgio and Kolonos.
The properties available to rent are houses with a year of construction from 1965 to 1980, while they have a larger area compared to the other suburbs of Attica. At the same time, a large percentage of the apartments available for rent have been partially or fully renovated. The partially renovated ones refer to the bathroom or kitchen reform, while the homes in which the kitchen and bathroom have been renovated are characterized by being completely renovated, have a security door and in many cases the window frames and balcony doors. With a monthly rent of up to 550 euros, 40.6% of the registered properties are available in the portal’s advertisements, while 59.3% are available in higher quantities.
In the central and western suburbs, available rental properties have been built since 1980 and are therefore younger properties compared to central Athens. In addition, the area of available properties is considered satisfactory, with an average ranging from 80m2 to 90m2, while they have at least two bedrooms. A large percentage of the apartments available for rent are partially or fully renovated. With a monthly rent of up to 550 euros, 51.25% of the registered homes are available in the portal’s advertisements, while 48.75% are available in higher quantities.
In the central and southern suburbs, the properties available for rent refer to houses with one year of construction from 1970 to 1980, while 54.8% of the apartments available for rent are partially or fully renovated. Only 24.5% of the available rental properties are available with a monthly rent of 550 euros, while 75.4% of the available properties have a requested monthly rent of more than 550 euros.
In areas such as Glyfada, Alimos, Argyroupoli, Ilioupoli, Voula properties with 2 bedrooms are not available, from 70 square meters, above the 1st floor, with rent up to 550 euros. On the other hand, the areas that are available properties with specific characteristics up to 550 euros are mainly areas such as Kallithea, Ilisia, Zografou. There are few properties, at the same time, in Nea Smyrni, Paleo Faliro, Agios Dimitrios and Dafni.
In the central and northern suburbs, the properties available for rent with two bedrooms, from 70 m2, on the 1st floor up to 550 euros, are mainly built in 1970-1975 with partial and / or no renovation. The percentage of these properties does not exceed 3.6%, since 96.4% of the properties available with similar characteristics are available with a requested monthly rent of more than 550 euros.
In Piraeus, the properties available for rent are mainly properties with one year of construction from 1970 to 1980, with an area of 70 square meters, which are largely partially or fully renovated. The percentage of the above properties reaches 76.4%. 23.5% of the properties available with similar characteristics are available with a requested monthly rent of more than 550 euros.
In the rest of Attica, the properties available for rent are mainly 70 square meters, they have been built after 2000 and are therefore newer properties compared to other areas of the Attica prefecture. The percentage of these properties reaches 75.24%, while 24.75% of the properties available with similar characteristics are available with a requested monthly rent of more than 550 euros.
Older properties have been partially or fully renovated.
According to the participants in the national real estate market, the new trend compared to previous years is that most of the old construction properties are now partially or completely renovated. In fact, these are properties of higher quality than in previous years.
However, the low availability of real estate is due to the fact that most of the apartments have been rented in recent years. Now, the properties available for rent are mainly houses that either the owners aimed for short-term leasing, or the property was rented and the owners, to increase the requested rent, carried out renovations.
Market insiders admit that rental demand is growing, and those interested in conducting a comprehensive home search are looking for the best possible opportunities.
How did the pandemic affect rents?
As Bakas points out, with the outbreak of the coronavirus pandemic and in the shadow of the first lockdown last spring, a portion of landlords registered a momentary reaction, voluntarily lowering the required rental prices.
The decrease registered did not affect the entire real estate market but rather a certain number of owners who needed immediate income, since in many cases the rental income covered another obligation, such as the payment of a loan.
In fact, some homeowners were quick to rent their property immediately before facing large cuts in potential financial “crash” scenarios in the months after closing.
How much rents have increased
In 2018, the average rent in the Attica region increased by 7%, while in 2019 the market is estimated to “raced” with an annual growth rate of 10%. In fact, in the center of Athens, where the largest increases are recorded, rental prices have increased by between 20% and 30% on average during the last two years, while in areas outside the center the corresponding increase estimated at about 10%. -fifteen%.
Source: ERT
