NEWS

Significant increase in Attica rental prices

significant-increase-in-attica-rental-prices

Rental prices in Attica recorded a significant increase according to the Spitogatos Property Index (SPI). The index also revealed that the gap between more affordable areas and more expensive areas has grown smaller, limiting the choices of households looking for more inexpensive housing.

The most significant growth in prices is the 14.7% recorded in the traditionally working-class suburbs of the port of Piraeus, compared to the 11.3% growth rate recorded in wider Attica. This increase means that the average rental price in the Piraeus suburbs reached 6.9 euros per square meter compared to 7.2 for the rest of Attica.

There was also an increase in demand for rentals in the western suburbs of Attica, with a recorded 7.3% increase in prices and reaching an average of 7 euros per square meter. To illustrate the rate of price hikes, two years ago, the average price in the area was 4.5 euros per square meter.

However, rental prices in central Athens have remained largely the same over the last year, at 9 euros per square meter, perhaps indicating that the market reached an equilibrium even if it remains at a high level, even in comparison to the years before the crisis.