Investors buying property in Greece to rent out can expect an annual yield of 4.17% from the asset, one of the lower returns projected across Europe, according to data published by Global Property Guide Tuesday.
The figures, rank rental returns from 36 premier city locations across Europe, and place Athens in position number 25.
Expressed as a percentage of the property purchase price, the gross annual rental income is what a landlord can expect as return on his investment before taxes, maintenance fees and other costs, Global Property Guide explains on its website. The figures are based on 120 square meter apartments located in premier city centres.
Topping the list is Moldova, which offers a return of 10% followed by Ukraine with a yield of 9.09%. Cyprus came in 12th place with a return of 5.29%.
Other southern European countries such as Spain and Italy, showed a projected rental yield of 4.21% and 3.36% respectively.