Rental yields are moderate to good in Athens, with surprisingly higher yields in Athens’s suburbs
Residential Valuation Specialist | March 03, 2022
Last Updated: Mar. 3, 2022 | |||||
ATHENS
CENTER HISTORICAL CENTER APARTMENTS |
COST (€) | YIELD (p.a.) | PRICE/SQ.M. (€) | ||
TO BUY | MONTHLY RENT | TO BUY | MONTHLY RENT | ||
75 sq. m. | 290,414 | 1,228 | 5.07% | 3,872 | 16.37 |
KOLONAKI - LYKAVITTOS APARTMENTS | |||||
50 sq. m. | 171,251 | 839 | 5.88% | 3,425 | 16.78 |
85 sq. m. | 326,417 | 1,334 | 4.90% | 3,840 | 15.69 |
120 sq. m. | 552,748 | 2,110 | 4.58% | 4,606 | 17.58 |
200 sq. m. | 958,508 | 3,190 | 3.99% | 4,793 | 15.95 |
ATHENS SOUTH GLYFADA APARTMENTS |
|||||
50 sq. m. | 197,266 | 882 | 5.36% | 3,945 | 17.63 |
120 sq. m. | 462,317 | 2,196 | 5.70% | 3,853 | 18.30 |
VOULA APARTMENTS | |||||
120 sq. m. | 340,196 | 778 | 2.74% | 6,804 | 15.55 |
120 sq. m. | 593,008 | 2,814 | 5.69% | 4,942 | 23.45 |
VOULIAGMENI APARTMENTS | |||||
75 sq. m. | 444,385 | 1,322 | 3.57% | 5,925 | 17.63 |
120 sq. m. | 901,850 | 2,543 | 3.38% | 7,515 | 21.19 |
ATHENS NORTH KIFISSIA APARTMENTS |
|||||
50 sq. m. | 153,632 | 1,030 | 8.05% | 3,073 | 20.60 |
120 sq. m. | 379,427 | 2,278 | 7.20% | 3,162 | 18.98 |
PALEO PSICHIKO | |||||
50 sq. m. | 130,790 | 650 | 5.96% | 2,616 | 13.00 |
120 sq. m. | 476,872 | 1,676 | 4.22% | 3,974 | 13.97 |
SANTORINI HOUSES | |||||
50 sq. m. | 293,492 | 1,400 | 5.72% | 5,870 | 28.00 |
120 sq. m. | 684,154 | 3,096 | 5.43% | 5,701 | 25.80 |
CRETE - VILLAS |
|||||
50 sq. m. | 242,814 | 447 | 2.21% | 4,856 | 8.94 |
120 sq. m. | 183,098 | 860 | 5.64% | 1,526 | 7.17 |
All yields are gross - i.e., before taxes, repair costs, ground rents, estate agents fees, and any other costs. Net yields (what you´ll really earn) are typically around 1.5% to 2% lower. Source: tospitimou Definitions: Data FAQ See also: Update Schedule |
The Gross rental yield is the rent the landlord will earn - before taxation, vacancy costs, and other costs - compared to the property´s purchase price.
In central Athens, specifically Athens Historical Center and Kolonaki - Lykavittos, gross rental yields range from 3.9% to 5.8%.
Athens suburbs´ gross rental yields are moderate to good, ranging from 2.7% to 5.7%. In Glyfada, for a 120 square metre (sq. m.). apartment, you will typically get a rental yield of 5.7%, which is surprisingly good. Many expats favored living in this area because this is a seaside suburb and has access to variety of restaurants, cafes, pubs and shopping districts. In Voula, where most locals live and which is considered an ideal overseas property destination, you can earn a rental yield of 5.69% for a 120 square metre (sq. m.) apartment. Voula is richer than Glyfada. However, you will probably only earn around a 3.38% rental yield for a 120 square metre (sq. m.) for an apartment in Vouliagmeni.
In Kiffisia, one of the most expensive suburbs in Northern Athens, the gross rental yield can be surprisingly high. A 50 square metre (sq. m.) apartment can yield 8% and a 120 square metre (sq. m.) apartment can yield 7.2%.
Smaller apartments tend to have higher rental yields than larger ones.
How much do apartments cost?
Central Athens’ average apartment price ranges from EUR 3,000 to EUR 4,000 per square metre (sq. m.), while in the suburbs of Athens, apartments cost around EUR 3,000 to EUR 7,000, relatively more than in the centre. Apartments in Crete cost around EUR 1,000 to EUR 4,000 per square metre (sq. m.), much lower than in Santorini, which costs approximately EUR 5,000 per sq, m. Rental yields are moderately lower here than in Athens Center and suburbs.
Round trip transaction costs are quite high for residential property in Greece. See our Residential transaction cost analysis for Greece.
Greece - More data and information
- How expensive are houses in Greece, compared to the rest of Europe?
- Property prices in Greece. Graph of house price trends in Greece
- How much rent can be earned from Greek property, compared to the rest of Europe?
- How much tax must foreign owners pay when they rent out their Greek property?
- Where to by property in Greece
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