High demand for small flats raises rents

Students, migrants and young people leaving home for the first time have boosted demand for small apartments to rent, which have become very expensive throughout Attica. A studio in Sepolia now has a monthly rent of 450 euros, while a four-room apartment in Aghia Paraskevi is going for 600 euros. According to Zepidis, the main reason why there is little demand for larger apartments is that with special offers for housing loans, those who have enough money for rent have bought houses. The difference in the rental of a studio and a three-room apartment has gone up to 20 percent. «The traditional family has begun to separate and people avoid living together in a larger house,» he explains. The influx of migrants has also played an important part. They usually rent small apartments and owners often charge rent according to the number of tenants. Students who move into the capital every fall also augment demand for small dwellings. Owners prefer to rent to students because most have a family to guarantee that the rent will be paid. Areas in high demand are Zografou, which is close to the Athens University campus, the center, where the National Technical University is located, Exarchia, and areas close to current or future metro stations.

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