Markets long on short-term rentals

The so-called commercial triangle of Athens, including districts such as Plaka and Monastiraki, secured an average monthly income of some 3,200 euros during this year's third quarter (July-September) through short-term rentals (STRs).

Accordingly, in neighboring Koukaki, the average monthly income from STRs was €3,010, demonstrating the reason why the residences in the above areas are in demand among Greeks and foreign investors.

This is an income that is approximately three times higher than that from long-term rentals, explaining the great impact of STR activity among apartment and house owners in these areas. Notably, the average rental income through long-term leases in the center of Athens, and especially in the above-mentioned areas, does not exceed €1,000-1,200 (about €10-12 per square meter), and this concerns residences of special characteristics and...