RETURN ON INVESTMENT (RENTAL YIELDS) ATHENS CITY CENTER
Athens, the historic heart of Greece, has been gaining momentum as a hotspot for real estate investment, particularly in its vibrant city center. The combination of affordability, strong rental yields, and increasing tourism makes Athens an attractive destination for property investors.
Why Invest in Athens City Center?
- Affordable Entry Point
Athens offers some of the most competitive property prices in Europe. Despite recent price increases, properties in the city center remain more affordable than in other major European capitals, allowing investors to enter the market without breaking the bank.
- High Rental Demand
The city center is a hub for tourists, students, and professionals, driving consistent demand for short-term and long-term rentals. Platforms like Airbnb have made Athens a top choice for short-term stays, while the city’s thriving business sector ensures steady demand for longer leases.
- Tourism Growth
Greece’s tourism industry continues to flourish, with Athens serving as a gateway to the country’s iconic islands and cultural landmarks. The city’s appeal as a year-round destination boosts the profitability of short-term rental properties.
- Golden Visa Program
Investors spending a minimum of €250,000 or €500,000 (depending on area) on real estate in Greece are eligible for the Golden Visa program, offering residency and visa-free travel across the Schengen Zone. This incentive has attracted a wave of international investors.
Key Considerations
While the investment potential is strong, it’s essential to conduct thorough due diligence. Pay attention to property conditions, legal processes, and market trends. Collaborating with local real estate experts can provide valuable insights and ensure a smooth transaction.
The below rental yields are estimated amounts for well-maintained unfurnished apartments based on what is currently available in each area. It does not include new builds.
Conclusion
Athens city center offers a unique blend of affordability, growth potential, and lifestyle appeal. Whether you’re seeking steady rental income or long-term appreciation, the Athenian real estate market presents compelling opportunities for savvy investors.
Best yields are in lower income area but these require more and better management and have an increased risk of lost rents. Also these areas may offer lower capital gains as properties tend to increase slower in value.
Smaller apartments offer a better return but bigger apartments are more difficult to find and usually rent quicker.
