Student housing prices in Greece skyrocket

Source: in-cyprus.com

The cost of renting student accommodation in Greece has skyrocketed in recent years, presenting a significant challenge for students and their families.

The average increase in student accommodation rents in six major cities, including Athens, Thessaloniki, Patras, Heraklion, Volos, and Komotini, has reached 91.5% from 2015 to 2024.

In Athens and Patras, the rise is even more pronounced, at 115.7% and 112.5% respectively.

For example, renting a 50 sq.m. apartment in central Athens (Zografou-Panepistimioupoli) this year costs €535. A decade ago, the same property was rented for just €250.

Several factors have contributed to this increase. The COVID-19 pandemic has led to a surge in demand for rental housing, as many people have opted to work remotely.

Additionally, the growing popularity of short-term rentals, particularly in tourist destinations, has reduced the availability of long-term rental options for students.

The imbalance between supply and demand has further exacerbated the situation. The number of affordable student apartments has decreased significantly, as many properties have been converted into short-term rentals. This has driven up rental costs and made it difficult for students to find suitable and affordable housing.

The rising cost of living, including increased utility bills and food prices, has also put a strain on students’ budgets. This has made it even more challenging for them to afford the high cost of student accommodation.

Read more: