The number of apartments available for university students to stay in northern Greece's Thessaloniki have plummeted due to high demand for short term rentals, said Grigoris Liantas, honorary president of the Real Estate Federation.
Speaking to radio station Praktoreio FM, Liantas said that prices for the few small apartments being offered on regular leases to students have gone up by 20 -50 euros per month.
"In the autumn, there was all this panic from students looking for a home. This year there were no small apartments in the center to rent to students. Parents from other cities were calling us in tears, because they couldn't find anything for their child," he said.
Thessaloniki hosts several universities drawing students from across Greece, with the largest one being the Aristotle University of Thessaloniki that has more than 100,000 students.
In the hunt for an apartment, tenants have sharply dropped their expectations, settling for just about anything.
"The bad thing is that in the past, tenants had expectations, now the only thing they want is an apartment to stay at," added Liantas.