Rent eats up 35% of incomes

The financial endurance of tenants looking for a property in Attica is at breaking point as a result of the rapid rise in rental rates in recent years, while salaries have failed to match the pace.

Based on the data of real estate agencies from 2017 to 2022, the average increase in rents in Attica in that time reached 35%, while areas of high demand in the northern and southern suburbs and in the center of Athens have even seen rises of 45% or 55%.

According to an analysis prepared by the company Recognyte on behalf of Kathimerini, the average rental price in Attica today is 684 euros per month, an amount that translates into annual spending of €8,208.

The average per capita declared income in Attica is €23,430, which means that an employee who rents a property without sharing the costs with others will have to pay 35% of their income just to cover the cost of...