In 2025, Greece continues to face a sharp increase in rental prices, with no signs of a downward trend. In the most expensive neighborhood of Athens - Vouliagmeni, the average rental price of housing is 20 EUR/sq m, which is among the highest levels in our southern neighbor.
The Cyclades remain the most expensive region for rent (average 14.2 EUR/sq m), followed by the southern and northern suburbs of Athens, the capital and Piraeus. Halkidiki is also among the most expensive areas for renters.
At the same time, more affordable options are concentrated in Perama, Acharnes and the suburbs of Piraeus, while the cheapest options are in Kilkis, the rural areas of Thessaloniki, Pella, Kastoria and Imathia.
Short-term rentals are displacing long-term ones
The boom in platforms such as Airbnb is making the situation worse. Owners prefer to rent out their properties to tourists, reducing the supply for locals. This leads to a shortage of long-term rentals and a further increase in prices even for older apartments.
Affordability crisis: Greeks spend a third of their income on housing
Economists from Alpha Bank note worrying trends: more than half of renters are forced to spend over 30% of their income exclusively on housing. At the same time, 68% of Greeks consider current rental prices to be completely inappropriate for their income level. Paradoxically, three quarters of the population still consider real estate to be the most reliable way to invest money, despite the catastrophic decline in its affordability.
What the market expects in the future
The cost of renting housing is influenced by 4 factors: the popularity of short-term rentals, limited supply in large cities, economic factors (inflation, interest rates) and urbanization (relocation to Athens and Thessaloniki).
Greece is facing a serious shortage of affordable housing and without systemic measures, the situation will only worsen. For many renters, owning their own home is becoming an unattainable dream, and high prices in luxury areas like Vouliagmeni only highlight growing social inequality.
Detailed statistics on average property prices in Bulgaria by city and neighborhood can be seen HERE