The price of renting an apartment in the port area of Piraeus has jumped 14.7 percent, while demand for homes in the northern suburbs of Athens pushed rents 10 percent higher, according to third-quarter data collected by classifieds site Spitogatos.

Data shows that rent prices were unchanged in the city center at 9 euros per sq/m despite being one of the capital’s most popular areas. 

In the suburbs of Piraeus, surrounding the country’s largest port, the price of renting a home rose to 6.88 euros per sq/m, from 6 euros previously. Demand for Piraeus has been increasing recently amidst improving infrastructure projects in the district and stronger public transport links. The construction of new office buildings in the area, which have drawn large multi-national tenants, is also boosting housing needs.

In the northern suburbs, which include areas like Kifisia and Marousi, the cost of rent hit 9.47 euros per sq/m, versus 8.57 euros per sq/m in the same period last year. 

It is important to note that Spitogatos assesses the asking prices for rents, as published on its site, not the prices at which rent agreements are made.

In the northern city of Thessaloniki, price hikes were more moderate. The cost of renting a place in the center of the city inched ahead 0.3 percent to 7.80 euros per sq/m, while in the broader Thessaloniki area it rose by 6 percent to 5.83 euros per sq/m. Figures for the prefecture of Thessaloniki showed that prices dipped by 3.8 percent to 3.33 euros per sq/m.

In a glance at the rest of the country, rents plummeted by 23 percent in the Cycladic islands, which includes Mykonos, Santorini, Naxos and Paros, to 15.38 euros per sq/m. On the Sporades islands, including Skiathos, Skopelos and Skyros, rent prices soared by 24.2 percent to 7.81 euros per sq/m.

This article was first published here. 

For more Real Estate News & Views on Greece and Europe’s South, head to The Greek Guru.

*Image of Kifisia property courtesy of Sotheby’s 

Stelios Bouras

A journalist for nearly two decades, Stelios has covered everything in the Greek capital, ranging from the politics and the economy to dancing architects and the souvlaki. Writing is his passion. After covering Greece for The Wall Street Journal and Reuters, he is now narrowing in on real estate and architecture. He believes that homes are more than a place to eat and sleep in and that light, design and space shape lives, along with the features of a building. Originally from Melbourne, he knows how to break down complex Greek issues into easy to understand stories for a foreign audience. He writes on real estate and the economy on his blog GreekGuru.net

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