|Last Updated: Jul. 23, 2012|
|COST (€)||YIELD (p.a.)||PRICE/SQ.M. (€)|
|TO BUY||MONTHLY RENT||TO BUY||MONTHLY RENT|
|65 sq. m.||204,230||587||3.45%||3,142||9.03|
|120 sq. m.||421,920||1,141||3.25%||3,516||9.51|
|160 sq. m.||615,040||1,442||2.81%||3,844||9.01|
|250 sq. m.||1,134,000||2,560||2.71%||4,536||10.24|
|60 sq. m.||178,680||596||4.00%||2,978||9.93|
|90 sq. m.||284,490||758||3.20%||3,161||8.42|
|120 sq. m.||357,120||1,135||3.81%||2,976||9.46|
|160 sq. m.||624,160||1,550||2.98%||3,901||9.69|
|250 sq. m.||1,102,000||2,355||2.56%||4,408||9.42|
|150 sq. m.||732,600||1,253||2.05%||4,884||8.35|
|250 sq. m.||1,134,750||2,173||2.30%||4,539||8.69|
|350 sq. m.||1,679,650||3,168||2.26%||4,799||9.05|
|600 sq. m.||2,590,800||5,532||2.56%||4,318||9.22|
|CRETE - APARTMENTS|
|40 sq. m.||75,760||220||3.49%||1,894||5.51|
|75 sq. m.||139,950||354||3.04%||1,866||4.72|
|120 sq. m.||200,640||506||3.03%||1,672||4.22|
|100 sq. m.||220,100||n.a.||n.a.||2,201||n.a.|
|150 sq. m.||353,850||n.a.||n.a.||2,359||n.a.|
|200 sq. m.||529,600||n.a.||n.a.||2,648||n.a.|
|300 sq. m.||684,600||n.a.||n.a.||2,282||n.a.|
Athens Center: Kolonaki
Athens Suburbs: Kifisia; Psichiko, Glyfada
Crete: Chania; Rethymnon; Apokoronas, Aghios Nikolaos, Elounda
Source: Global Property Guide Definitions: Data FAQ See also: Update Schedule
It is cheaper to buy apartments rather than houses in Athens. But if you are renting, it is cheaper to rent a house, than an apartment.
Houses in Ekali, Kifisia, Psychiko, and Glyfada change hands at around EUR 4,600 per square metre (sq. m.), whereas apartments in the same neighborhoods sell for around EUR 3,500 per sq. m. Apartments in Athens centre or Kolonaki cost on an average, EUR 3,800 per sq. m.
Rental yields on houses, especially in Athens’ suburbs, are the very poor, ranging from 2.05% to 2.56%. Apartments yield better returns, ranging from 2.56% to 4% if located in the suburbs, and 2.71% to 3.45% in the centre.
Property prices in Kolonaki and the suburbs are actually quite similar. For example, a 160 sq. m. apartment in Kolonaki costs around EUR 3, 800 per sq. m., whereas in the suburbs, it costs around EUR 3,900 per sq. m. A 250 sq. m. apartment in Kolonaki costs around EUR 4,500 per sq. m. while in the suburbs, it costs around EUR 4,400 per sq. m.
The same trend is evident in Crete. Houses cost on an average EUR 2,400 per sq. m. while apartments cost around EUR 1,800 per sq. m. In Crete, apartment rental ranges from around EUR 4 to EUR 6 per sq. m. per month.
Apartments in Crete also yield poor rental returns, ranging from 3.03% to 3.49%.
Be the first to comment on this article!
Login or Register to submit a comment!
In order to promote open and spam-free conversations, Global Property Guide moderates commetns on all articles. You can expect that your comment will be published within 24 hours.
Fortnightly updates from the global property arena directly to your inbox.
Connect to professional advice in Greece
Which parts of the world are most attractive for property investment today?