ECONOMY

Prices for homes hit the sky

The prices of small apartments in the congested residential areas of the Greek capital seem to be skyrocketing. Facing strong demand for studios and two-room apartments by students, pensioners and especially immigants, owners are asking ever higher prices, even in decades-old constructions. According to a survey by reporter.gr in the area of Aghios Nikolaos in the Patissia district, a 43 sq.m. studio is selling for 43,000 euros. The same studio is rented for 230 euros monthly. In other areas, rates are higher; a 65 sq.m. two-room apartment needing renovation is selling for 80,000 euros. Further out of town, a renovated 54 sq.m. two-room home in Kifissia is going for 135,000 euros. In Halandri, a new, 56 sq.m. apartment costs 150,000. A two-room apartment in Maroussi, not far from the Olympic Stadium, is rented for 570 euros a month. A slightly larger apartment in Neo Psychico is rented for 480 euros.