Mid-term rentals attract attention | eKathimerini.com
Medium-term rental is becoming the most dynamic trend in the real estate market of Athens and Thessaloniki.
Digital nomads, business managers in high-tech industries and other workers capable of working remotely are the main clientele of owners who offer their properties for rent for less than a year.
According to Vassilis Argyrakis, co-founder and managing director of the property management company See Greece, “we have recently seen many landlords choosing to rent their properties for periods of three to nine months, in areas ranging from Piraeus to Paiania” . he said, referring to various regions of Attica.
In addition to digital nomads, this market segment targets workers in companies running customer service centers; this clientele was until recently the privileged terrain of short-term rentals.
“These companies are looking for homes for their staff and therefore using properties through mid-term rentals,” Argyrakis explained at the Premium Real Estate Expo in Athens last week.
Such a solution appears ideal for all assets that are not located in prime locations for short-term rentals, such as the center of Athens or Koukaki: , swimming pool, garden, etc.) and having a price lower than that of the center of Athens”, in the words of Argyrakis.
According to Kosmas Theodoridis, Head of Polis Estate Agents, “Medium-term rentals have even started to generate demand as an investment product, as we often see buyers interested in investing in properties to be used in this way”.
The residential market has generally begun to attract interest even from institutional investors, thanks to its strong demand for purchases and rentals. MRICS researcher and chartered surveyor Konstantinos Gatis said that one of the characteristics of the housing market is the lack of affordable housing in major cities, as the new trend is mainly about the development of very high quality assets in the within complex developments, such as the Piraeus Tower or the renovated Hilton. Hotel.
Going forward, the residential market will also be decisively influenced by the management of properties used as collateral for bad debts.