As the market real estate is going through a period of rise, with average demanded prices sales and renting increases, many investors are turning their interest in identifying the next investment hot spots in Attica, Thessaloniki and the rest of the country.
As part of the Real Estate Expo in Athens (May 30 – June 1), Spitogatos CEO, Dimitris Melachinos, presented – during the panel “What are the new hot areas of Athens with the highest yields?” – The areas of Attica, Thessaloniki and the rest of Greece with the highest yields. These yields were calculated on the basis of the reasons for the annual requested leases to the CAP RATE, according to Spitogatos Insights. This relationship shows how efficient a property is if it is rented long -term (and not short -term or for tourist exploitation) in relation to its value.
Property Performance in Attica: High Performance Areas, Starring Economic Zones of the Center and West Attica
In the central sector of Athens, the highest yields include mainly non-traditional popular destinations, such as Patision-Acharnes and Attica, but also more established areas with high demand for student or short-term lease, such as the center of Athens, Exarchia-Neapolis.
Much fewer are the areas of the northern suburbs that are over 5%, compared to the central area of Athens, as shown in the table below. Specifically, Agios Stefanos, Nea Penteli and Spring are the areas that record property yield higher than 5%.
It is noteworthy that no region of the southern suburbs records a property of more than 5%. Indicatively, in Glyfada and Nea Smyrna, the yield is around 3.6%. This phenomenon is attributed to the high average demanded prices (MZT), which, despite the upward course of rental prices, compress the total yield of the property.
On the contrary, high -performance areas (over 5%) are also found in the western suburbs, such as Agia Varvara (8.2%), Aigaleo (6%), New Philadelphia, as well as Acharnes.
In the eastern suburbs of Attica, they stand out for the high returns they record, according to the available data, the following areas: Marathon, Koropi, Nea Makri, Artemis and Spata.
In Piraeus and its suburbs, areas with relatively low -requested housing prices are highlighted in zones of over 5%. Typical examples are the Kaminia -Palaia Kokkinia, the area of Tambouria – Agia Sofia, Saint Ioannis Rentis, Taurus, Keratsini and Nice.
In the rest of Attica, high yields are recorded in Lavrio, Oropos and Kalamos, as shown in the table below. Also significant are Markopoulo, Megara, Pikermi, Kalyvia Thorikou and Keratea.
The western districts and the center of Thessaloniki lead in odds
The western districts of Thessaloniki, such as Eleftherio-Kordelio, Ampelokipoi, Stavroupoli and Menemeni, record high returns, as a result of the low average demand (MZT) and increased demand for housing for rent in these areas.
In the center of the city, areas such as Vardaris and the Upper Town are also strong, due to the demand for student real estate and tourism activity.
Attractive yields outside urban centers: the cities of the periphery that stand out
The analysis of yields in the rest of Greece is of particular interest, as several regional sections (IP) and other cities record very attractive real estate yields. Among them are Didymoteicho, Ptolemaida, Kozani, Karditsa, Agrinio, Orestiada, Veria and Komotini. High returns are also marked in drama, Serres, Lamia and Xanthi.
In the island area, Samos and Lesvos-Mytilene are particularly high, while in the Peloponnese the areas with the largest yields are Pyrgos and Amaliada in Ilia, Sparta, Tripoli and Aigio.
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