Winter or summer, a place by the beach has always a special appeal. With demand for homes shifting away from central Athens due to the pandemic, there is a clear preference for larger, more spacious houses in the capital’s less crowded suburbs.
This has boosted the average price of renting a house in the southern suburbs by 2.1 percent to 10.21 euros per sq/m in the third quarter of the year, data shows. This compares with 9 euros per sq/m in the city center and 9.47 euros per sq/m in the northern suburbs, where demand has been strongest recently.
A recent breakdown of figures provided by RE/MAX shows that rent prices along the southern Athens coast vary.
Progress on the construction of the Ellikino complex at the former international airport has boosted demand in the area as the development project is seen transforming the southern stretch, boosting its strong appeal among locals and foreigners. The beach area does not have access to the Athens subway which services the southern suburbs but further inland, along Vouliagmenis Avenue.
Most of the stretch, however, on the beach is well serviced with buses and the tram line. The majority of areas are also in close proximity to central Athens and landmarks, such as the Acropolis.
Glyfada remains a popular choice, costing 9.60 euros per sq/m, according to RE/MAX data. Next door in Voula, rents are cheaper at 7.80 euros per sq/m.
In Alimos, monthly rents for houses are at 7.9 euros per sq/m, versus 7.80 euros per sq/m in Elliniko and 7.30 euros per sq/m in Paleo Faliro.
Further out, the affluent area of Vari-Varkiza tops the rent price list at 9.50 euros per sq/m.
Near the Port
Down by the port of Piraeus, the country’s largest, prices are lower but fast-rising. Figures show that the price of renting a home in the suburbs of Piraeus rose 14.7 percent in 2021 to 6.88 euros per sq/m, from 6 euros previously. Along with improving infrastructure in the area, the construction of new office buildings has drawn large multi-national tenants, boosting housing needs.
This article was first published here.
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*Image courtesy of Sotheby’s
