Rents jump by up to 35 pct in Athens

August 27, 2019

  

 

The price of renting an apartment in Athens has jumped by up to 35 percent in the last year, according to data compiled by spitogatos.gr.

 

The data comes out as thousands of university students search around frantically for a place to stay in Athens at the start of the academic year amidst a housing shortage brought on by Airbnb. The latest hikes in leasing out an apartment come after a 17 percent rise in 2018.

 

For this year, figures show that the biggest jump in rent was recorded in the south eastern area of Vyronas (34.6 percent). Sharp rises were also recorded in Egaleo (31.3 percent) and Kaisariani (24.4 percent).

 

On the downside, some areas where rents had soared in recent years saw a drop in prices in the last twelve months. In Koukaki, a neighbourhood close to the Acropolis that has been turned into a major Airbnb hub in Athens, saw rent drop 10.5 percent. In the city centre, in the heart of the capital, prices also slipped 1 percent.

 

After sharp increases in the last few years, some experts anticipate that hikes in rents will slow as of September.

 

Tens of thousands of property owners in Greece are expected to withdraw their apartments from Airbnbtype platforms in coming months and lease them on a long term basis amidst tightening government rules on the sector.

 

 

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