The prices of real estate in Exarchia are soaring

Sparrow-The prices of real estate in Exarchia are soaring

Koukaki has undoubtedly benefited most from any other area in the centre of Athens due to Airbnb and Golden Visa. Nevertheless, according to a recent RE / MAX study, Exarchia is another area whose rental prices have skyrocketed, along with the value of the apartments.

According to the survey, Exarchia, due to the significant advantages they offer, is constantly in the eye of foreign investors. It is an area that is just a stone’s throw from Athens’ commercial triangle, prices are much lower than neighbouring Kolonaki, and has many small apartments that are at the top of the preferences of prospective buyers. Even the frequent incidents taking place in the area do not bother prospective buyers.

According to reliable sources, many apartments in the Exarchia and Neapolis area have been bought by foreign investors and in particular investors from China. Many are the ones who buy a house for their own use and then to fill in the 250,000 euros required for the Golden Visa also buy an apartment in the centre.

According to the RE / MAX study rents in Exarchia recorded the second largest increase this year. More specifically, the centre saw an increase of 20%, while in Exarchia the corresponding increase reached 34%, climbing to 5.5 euros per square metre. Respectively in 2016 the square metre cost 4 euros. Sale prices are up, especially for recently renovated apartments, ready for use through Airbnb, where asking prices may exceed € 3,500 per square metre.