Rental prices in Greece have continued to surge in the post-pandemic period, with local analysts forecasting that they will continue their upward trend, albeit not at the same intensity observed in other European countries.
The most expensive areas for rentals in the country are in the southern coastal and leafier northern district of the greater Athens, central Athens, the port of Piraeus and, of course, the highly popular Cycladic islands.
Rental prices are also high in Halkidiki, a resort area east of Thessaloniki in northern Greece, where short-term rentals continue to push prices upwards.
Overall, the highest increases amongst the greater Athens-Piraeus region this quarter were in the port of Piraeus, up by 9.7 % and the eastern suburbs of Athens, up by 9.6%, although the rate of increase has slowed compared to the previous double-digit rises.
In the already expensive southern coastal district of the capital, prices rose by 8.6%, with the average price range reaching 12.8 euros per square meter, while the northern suburbs saw a smaller increase of 4.9%, with rents at 11.3 euros per square meter.
In central Athens, the average rent now stands at 10.71 euros per square meter, up by 7.1 % from last year.
In Vouliagmeni, upscale seaside district southeast of Athens proper, the average asking price for rentals reaches 20 euros per square meter, followed by Kolonaki in central Athens at 16.7 euros, and Glyfada in the so-called ‘Athens Riviera’, at 16.5 euros.
Conversely, according to data, the most affordable neighborhood in Attica prefecture to rent a home is working class Perama, west of the port of Piraeus and sandwiched between industrial zones, where the average asking price is 6.7 euros per square meter, with an 80-square-meter residence costing 536 euros per month.
According to Eurostat, despite the higher rental prices in Greece, they are still far below the peak levels recorded in 2010.
Comparing the second quarter of 2024 with 2010, rents increased in 26 EU countries, with the highest rises in Estonia (+203%), Lithuania (+178%), Ireland (+106%), and Hungary (+104%). Greece was the only country where rents decreased, dropping by 18%.
