Central Athens’ high yields
Real estate investors are increasingly targeting residential assets in downtown areas
The center of Athens is emerging as an ideal destination for securing high yields from the utilization of residential property.
According to a relevant analysis by real estate investment platform Protio, of the 10 districts of Attica with the highest yields, the individual ones in the city center occupy seven of the 10 positions. However, the first two places belong to Aegaleo and Nikaia, two suburbs that offer annual returns of 8.2% and 7.9% respectively.
“Investment in residential real estate was and is very close to our hearts, as 76% of Greeks own some real estate (Eurostat, 2022). The period we are going through is ideal for real estate investments, as it is the most appropriate way to ‘protect’ your property. In times of high inflation and volatility in stock markets, investors are looking for their next or, very often, first investment in real estate, which will provide them with a safe haven for years to come,” Protio says in its analysis.
Based on the company’s data, high yields are also offered in Patissia (7.8%), Attikis Square (7.7%), Omonia and Amerikis Square with 7.7%, as well as at Victoria Square with 7.3%.
The yield is calculated based on the amount of rent and the value of the investment. Protio used data from the last three years, while taking into account factors such as location, accessibility to public transport and urban facilities, as well as the future development prospects of each area. According to the managing director of Protio, Antonis Fiorakis, “these neighborhoods present particularly attractive returns with high investment security and are easy options for domestic private investors.”
Protio is a property management startup which operates through a digital platform it has developed. It is aimed at owners who are interested in selling their property and investors/buyers interested in long-term utilization through leasing. In this context, it serves as an intermediary, providing a wide range of services.
