Moving on to the next category, that of apartments with a surface area of 85-115 sq.m., a reversal of the data is observed. Specifically, from 2020 until today, an increase in the “stock” of houses for sale (ie average change in real estate portfolio size) but a decrease in the number of available homes for rent.
It is therefore obvious that in the smallest apartments, the investment interest is greater, as they offer a higher return (due to their lower purchase cost). Thus, in these properties there has been a greater decrease in the number of properties for sale and a corresponding increase in the number of rentals, as those who bought them wish to exploit them, through long-term leases.
It is completely different, as can be seen from his data Spitogatos.grthe situation in the category of larger apartments. These properties offer two or even three bedrooms and are therefore more suitable for new households and families. These are the people who face the greatest difficulties in accessing affordable housing, especially if they are not already home owners.
Most Greeks today do not have the financial means to acquire their own property and certainly not a large one, which explains the increased supply.
Thus, the option of renting is almost a “one-way street” for the vast majority of those interested, which explains the decrease in the stock of rental homes and the increase in the number of homes for sale. Most Greeks today do not have the financial means to acquire their own property and certainly not a large one, which explains the increased supply. Of course, this does not seem to change the data at the price level, as they remain very high.
*In short, the term inventory means the average change in the size of a brokerage portfolio.
Thus, regarding the 15 areas with the largest inventory of homes for sale, increases in the number of properties are observed in almost all of them. The only exceptions are Ampelokipi with a drop of 8.3% compared to 2020 and Pagrati with a decrease of 5%.
In all other areas, apartments for sale have increased in recent years. Among them, the case of Agia Paraskevi stands out, where the stock has increased by 38.3%, while in Alimos there is an increase of 26.6%.
The greatest absorption of rental housing is observed in Kolonaki and Kifissia, where the offered properties have decreased by 23.5% and 22.7% respectively.
Of course, a role in these increases is likely to have been played by the increase in sales prices, which has acted as an incentive for several owners to put their properties up for sale. A significant increase in supply is also recorded in Nea Smyrni with 22.8%, Kallithea with 20.3%, Maroussi with 15.5%, Nikaia with 12% and Glyfada with 8.2%. In the case of Glyfada, the main reason for the increased supply is the large increase in the number of new buildings developed in recent years, as many builders chose this area, due to high demand and high prices, and therefore profits.
On the contrary, with regard to properties available for rent in the 15 areas with the highest rental stock, a decrease in supply is recorded in 9 of them. The greatest absorption of housing is observed in Kolonaki and Kifissia, where the offered properties have decreased by 23.5% and 22.7% respectively. A large decrease of 16.5% is also observed in Ampelokipi, as well as in Vouliagmeni with 9.2%. But there are also places where the housing stock has increased, such as for example Chalandri with an increase of 18% compared to 2020, or Kypseli with an increase of 10%. An increase of 6.3% is also noted in the area of Kallithea.
