Rent costs for student housing jump in Athens, Thessaloniki

Increased availability of homes but heftier prices: This is what parents and university students who will be looking for a home this year will be faced with. Large price increases have been recorded in Kallithea, Neos Kosmos, Pagrati, Zografou and Exarchia, with rents in the top areas of Thessaloniki also up to 25% higher.

In recent years, the search for quality property has been a difficult process after the rapid rise in the number of apartments put on short-term lease platforms (eg Airbnb), occupying houses in many parts of Athens, such as Koukaki, but also in areas of the historic center.

As the president of the Pan-Hellenic E-Real Estates Network, Themistoklis Bakas, explains, the effects of the coronavirus pandemic on tourism and ultimately on the short-term leasing sector, contributed to a significant number of properties being pulled from short-term lease and put back on long term leases, particularly in the big cities (Athens - Thessaloniki). The largest percentage of the properties that are available, are small (covering 30sqm-60sqm) fully renovated and in many cases fully furnished and with all household items.

As of last year, parents can more easily look for student housing. It is worth mentioning that in Kolonaki in 2019, about 353 properties were registered on short-term lease platforms compared to 227 today. In the area of Exarcheia, Neapoli-Museum, the registrations of real estate on short-term lease platforms were 779, while today they have decreased to 445. Due to the rapid increase of short-term lease, especially in the center of Athens, most apartments available this year for rent , are fully renovated to a high standard and a large percentage are available furnished and fully equipped with all household appliances, but parents should be prepared for higher prices.

Prices in Athens are on the rise in most student areas. The largest increases have been recorded in Kallithea, Neos Kosmos, Pagrati Zografou and Exarchia. Specifically, in 2020 the cost of renting a studio in Neos Kosmos ranged from 260 to 360 euros per month, this year there is an increase of 13.3% in the minimum rental price and + 26% in the maximum rental price, with the monthly rent ranging from 300 euros per month, up to 490 euros per month if it is a fully furnished and equipped with home appliances.

Increases are also recorded in Kallithea, with the rental cost for an apartment of 40sqm-50sqm ranging from 350 euros per month up to 550 euros per month if it is furnished and fully equipped with household appliances, when last year the rental cost ranged from 330 euros per month up to 400 euros per month.

Apartments in Kolonaki and Koukaki are at last year’s high levels, for both a studio and a two-room apartment. Stable prices, at 20202 levels, with small fluctuations are seen in the Museum - Neapoli area, in the center of Athens, in Goudi and Kypseli.

In 2019, at this time, in the area of Kolonaki, more than 353 properties were registered only in the short-term lease platform Airbnb, making it hard for parents to find a home. This year the number of registered properties on short-term rental platforms are at 227, but the prices remain at last year's levels with the cost for a studio ranging from 420 euros up to 600 euros per month if it is fully furnished and with all household appliances. The price of a two-bedroom apartment in the busy Kolonaki area ranges from 490 euros and goes up to 750 euros for a fully equipped apartment.