Buying an apartment intended for rent in Spain offers the fastest return for an investor. Athens follows with an ROI of over 21 years for a rental apartment. Behind it are large cities in other Central and Southern European countries, with the highest return on investment offered in Vienna at 39 years.
The surprise of Heraklion
Figures from Heraklion showed the biggest rise in yields in a year, due to a dramatic rise in apartment prices in the Cretan capital. European brokerage ProfitLevel compared market prices and rents in 17 attractive metropolises in Central and Southern Europe, including seaside resorts, in its Apartment Return On Investment Comparison program.
“Apartment prices, and therefore rents, have been greatly affected by the pandemic. A year ago, we detected a significant increase in demand for investment apartments. And although apartment prices in Europe have increased, albeit slightly, in the vast majority of cases, market rents have increased faster over the past year,” explained Lucia Žárská, analyst at ProfitLevel, adding: “The rapid increase of apartment prices continued among the destinations we monitored, mainly in Crete and also in Marseille, France.’
The data is based on crowd-sourced data from Numbeo.com, which has over 100 data points for the last 12 months, even for small cities. The data was collected on January 6, 2023. The rents captured are in the category of one-bedroom apartments in the city center. Listed apartment prices are per square meter in the city center. The yield is only an example and is calculated as the ratio of the market price of the apartment to the market rent.
Latest News
Foreign-Owned Businesses in Greece Thrive in Trade and Services
Despite government efforts to attract foreign investment, only 0.6% of all businesses across Greece are foreign-owned.
41st Athens Marathon- Traffic Regulations in Athens from Thursday to Sunday
Traffic regulations will be implemented gradually, starting from Thursday, as part of the 41st Athens Marathon.
Greek Households Most Pessimistic in Europe: IOBE Report
Over six in ten (65%) of households said that their financial situation worsened over the past year
JP Morgan Remains ‘Bullish’ on Greek Banks
JP Morgan reiterated its analysis of DTCs, prompted by Piraeus Bank’s plan to accelerate their amortization
Source of Wealth Declarations for Greek Public Officials Made Easier
Source of wealth declarations are designed to improve transparency and prevent corruption among Greece's public officials. Yet 98% of Greeks still believe corruption is widespread in the country, according to Eurobarometer.
Greece’s Labor Market Slack Among Highest in EU
Greece ranks 4th in EU for labor market slack, mostly due to high unemployment levels, and has widest gender gap in the EU.
Livestock Crisis Threatens Greek Feta
Feta in particular, is Greece’s primary dairy export, with 65% of production going abroad.
Moldova’s Sandu Wins Second Term amid Meddling Claims
According to the Central Election Commission, with 98% of votes counted, Maia Sandu led with 54.35% to Alexandr Stoianoglo’s 45.65%
Attica Wins ‘Best Greek Hospitality Region’ at 2024 Awards
The Greek Hospitality Awards, now in their tenth year, are one of the premier tourism industry events at the European level
Greece Takes Command of EU’s Operation ASPIDES in Red Sea
The defense minister also visited the Greek frigate Spetsai, which is participating in Operation ASPIDES, while in the port of Djibouti