Top 5 techno-hubs in the world: a paradise for IT people and real estate investors
American analytical portal Expert Market has published a list of cities that are considered the best for the life and work of specialists in the field of IT. Analysts of…

Continue reading →

Investment in rental business in Greece: European residence permit and high profitability amid rising prices
The Independent Public Revenue Authority of Greece (AADE) announced the launch of a digital registry for those who rent out Greek property for short-term rent through online platforms: for example,…

Continue reading →

Where to live in retirement - top 5 Greek villages
Sometimes it is rather difficult to retire and continue to live for your own pleasure in your own country. Therefore, those who can afford it, think about moving abroad. The…

Continue reading →

Top 10 locations in Greece, where the profit from daily rent grew the most

Profit from short-term rentals in Greece over the past two years has grown stronger in locations less popular with tourists – analysts of AirDNA, a service that processes ads published on the Airbnb portal, reached this conclusion.

To make the rating, AirDNA specialists used RevPAR (revenue per available room) indicator – it reflects the landlord’s income per month excluding maintenance and tax costs (the cost of daily rent multiplied by the occupancy of the apartment or house per month). Analysts calculated how the rental income in all locations in Greece, where more than 100 Airbnb ads were published, changed over the two years: from July 2016 to June 2018. The leaders of the rating were the island of Antiparos, dim Mesini and the island of Kythira, where the income of tenants grew by 105%, 84% and 71% respectively. At the same time, in traditionally popular tourist destinations, landlords’ income grew much less: on Santorini island – by 32%, on Crete – by 25%, in Athens – by 17%.

However, if you look at absolute values, the picture loses its appeal. So, in monetary terms, the profit in most of the presented locations is low. As of July 2018, six of 10 RevPAR markets are lower than 550 euros per month, whereas, for example, in Athens and in Crete it is about 1 thousand euros, and in Santorini – almost 4 thousand.

Andiparos is a small island in the composition of the Cyclades archipelago kokixx / Depositphotos
Another distinctive feature of the dozens is low occupancy. In July, one of the hottest months on the short-term rental market in the Mediterranean, only 20–30% of houses and apartments were loaded in seven locations out of 10. In Igoumenitsa and Katerini, this figure was about 40%, which is still significantly lower than in Crete (50%), Santorini (76%) and in Athens (80%).

Dim Mesini is located in the southwestern part of the Peloponnese peninsula znm666 / Depositphotos
The offer in the locations that made the top ten of the rating cannot be called redundant. Nine out of 10 locations have only 150–200 objects for rent. For comparison: in Athens, 7 thousand apartments and houses are leased on Airbnb, in Crete – over 12 thousand.
Kithira is the southernmost of the Ionian Islands. Panos_Karas / Depositphotos

While foreign investors bypass the markets from this rating. According to the official agency of Greece, Enterprise Greece, as of May 2018, 30% of foreigners who buy property in Greece under the “golden visa” program acquire houses and apartments in Piraeus, 26% in Athens and 21% in Palini (eastern suburbs of Athens ). The remaining ones choose large cities in Central Macedonia (Polygyros, Thessaloniki), on the islands of Crete (Chania, Heraklion, Agios Nikolaos), Peloponnesus (Corinth) and Corfu. Russian investors aimed at obtaining a Greek residence permit most often buy property in Polygyros (32% of applicants).

Despite the less impressive growth in rental income, international investors more often choose real estate in Athens. As Alina Churikova, project manager for Tranio in Greece, explains, the capital shows the highest percentage of occupancy on the short-term rental market during the year: “In Athens, unlike resort locations, tourists travel in the winter, so real estate works here without a break for low season, and investors get more attractive returns than any other place in Greece. ”

Cities vs. Airbnb: How the authorities are trying to streamline the daily rental market
In 2007, Brian Chesky and Joe Gobbia came up with an online service for daily rent of apartments Airbnb - since then, travelers around the world have used it about…

...

Brexit: how did the prospect of a UK exit from the EU affect the real estate market?
The results of the referendum on UK withdrawal from the European Union, held on June 23, 2016, could not leave indifferent players in the real estate market. The forecasts that…

...

German citizenship for investment ... time and effort
Germany is the largest and most stable economy in Europe. German passport offers visa-free access to 188 countries of the world. Germany ranks fourth in the list of the best…

...

International investments in the Mediterranean hotel property
International investments in hotel real estate in the Mediterranean are on the rise. This is indicated by the results of an online survey conducted in 2018 jointly by Tranio and…

...