Spitogatos Insights: Increase in property rental and sale prices in Piraeus

 

Regarding rents, the average asking price was 8.2 euros/sq.m., increased by 11.3% compared to last year

The average asking price in commercial properties for sale in Piraeus (1,231 euros/sq.m) rose 12.8% in 2023 compared to 2022 while the corresponding price increase in the suburbs (993 euros/sq.m.) stood at 10.3%.

Regarding rents, the average asking price was 8.2 euros/sq.m., increased by 11.3% compared to last year, while in the suburbs the average asking price for renting commercial properties reached 6.6 euros/sq.m., up 7.8%.

The most expensive areas to buy commercial property in Piraeus and its suburbs are the area of Kastella – Pasalimani with a price of 1,507 euros/sq.m., Piraiki – Hatzikyriakeio (1,367 euros/sq.m.) and the center of Piraeus (port), with an average asking price of 1,334 euros/sq.m.

On the contrary, the most economical areas are Korydallos (717 euros/sq.m.) and Kaminia-Palea Kokkinia (844 euros/sq.m.) as well as Tambouria-Agia Sofia (844 euros/sq.m.) areas.

The most expensive areas of Piraeus and its suburbs for renting commercial space are Neo Faliro (8.8 euros/sq.m.), the Kastella-Pasalimani area (8.7 euros/sq.m.) and the center of Piraeus (port), with an average asking rental price of 8.7 euros/sq.m.

The most economical areas to rent are Agios Ioannis Rentis (4.5 euros/sq.m.), Perama (5.6 euros/sq.m.) and Kaminia – Palea Kokkinia (6 euros/sq.m.).

The rise in prices seems to be strongly related to the changes in the conditions of the Golden Visa program, which turned the interest of buyers to areas where the limit for the purchase of a residence by foreigners has remained at 250 thousand euros. It is worth noting the strong interest in the area of Piraeus which has significantly affected the expectations of the owners in terms of the asking prices.

More specifically, the average asking price of residential rental in Piraeus increased by 10% in 2023 compared to the previous year and the average asking price for sale rose 15.9% compared to 2022 at 2,000 euros/sq.m.

Πηγή: naftemporiki.gr