Property in Athens a Highly Attractive Investor Option  

Athens, Greece.

Athens is ranked fourth among European cities as a top property investment option, according to data presented by investment firm ProfitLevel.

Based on report findings, the Greek capital ranked fourth after Valencia, the Canary Islands and Barcelona with Warsaw completing the Top 5.

According to ProfitLevel estimates presented by Greek daily Kathimerini, an investor purchasing a house in Athens needs about 21.4 years to make a return on investment based on the price of the property purchased and the size of rent.

Lucia Zarska, analyst at ProfitLevel, told Kathimerini that the time required for a return on investment is longer because property prices in Athens increased nearly three times faster compared to rental rate increases.

Data presented this week by real estate experts Spitogatos back that up. Average selling prices for properties in Greece increased by 7.2 percent in 2022 compared to 2021 and rents rose by 6.7 percent, according to Spitogatos’ SPI price index.

Indicatively, a home in Athens of up to 15 years of age sells on average for 2,500 euros per square meter while monthly rents for a 100m2 apartment come to 900 euros.

Looking at the other cities on the list, return on investment in Valencia takes about 16.7 years, 19.44 years for properties purchased on the Canary Islands and 19.48 years in Barcelona, where the average selling price is 5,000 euros per square meter, double the selling prices in Athens but also with much higher rents and much higher salaries: indicatively the average salary in Spain is 96.5 percent higher than in Greece at 1,815 euros compared to 923 euros for the Greeks.