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Corfu property rental prices up by 19% in 2019

27 Jan 2020 / 08:37

CORFU. In 2019 the whole of Greece saw increases in property sales prices (8%) and rental prices (10%).

According to 'Spitogatos', Corfu was one of the Greek regions in which there was an especially high increase in rental prices - 19%.

The greatest increases were seen in Piraeus (25.2%), Argo-Saronic Islands (23.1%), Trikala (21.4%), Central & West Athens (20%) and Corfu (19%). There were a few regions where prices dropped, but they were the exception - Zakynthos (- 10.4%), Cycladic Islands (- 8.3%), Thesprotia (- 6.2%), Kastoria (- 3.8%) and Florina (- 3.7%).

The greatest increases in property sales prices were in the large urban areas with Thessaloniki at the top of the list with 28% increase compared to the previous year. Central Athens saw an increase of 27.2%, Piraeus 16.3%, South Attica 10.8% and West Attica 8.7%. Property prices dropped, however, in the following areas - Grevena (- 19.4%), Trikala (- 8.2%), Viotia (- 8.1%), Drama (- 7.5%0 and Fokida (- 5.9%).

'Spitogatos' CEO Dimitris Melahrinos commented: "For the first time in the last ten years we can see prices comparable to those before the crisis in some areas. Both Greek and foreign investors are showing great interest and are trying to exploit this opportunity by investing in developed or developing regions. The upward trend in rental prices - which are returning to pre-crisis levels - is yet another incentive for investors, giving them another way to exploit their properties."

Property owners and investors are happy with developments in 2019 as they saw the value of their property increase by at least 8% - with some areas showing an annual increase of over 25%. Greece as a whole saw increases in property sales prices (8%) and rental prices (10%).

Greece is developing into one of the most promising markets in Southeast Europe as the steady and substantial increase in property sales and rental prices has continued in 2019 according to the 'Spitogatos' data analysis team.

With information from