In an effort to keep you updated on changes of the Local Housing Market, we thought it is imperative to inform you of the current situation, since we face a lot of changes during the home finding services.
Background
Due to the economic situation over the last years in Greece and the constantly changing legislation & tax system owners behavior & supply of properties have changed. The supply of properties is low and the rental conditions are less simple.
Supply and rental conditions
Supply
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No new constructions since 2008/2009. The very few new constructions are overpriced due to their limited number.
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The supply of properties, visible in the Internet, deceives the real situation ie. Already rented or not available properties are left online, etc in order to keep the housing market attractive
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The most attractive properties (ie. With swimming pool) have limited availability, since rents have decreased and the majority of these houses is rented
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Existing lease agreements are often renewed by the tenant/Companies
Rental conditions
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Due to high taxation home owners often prefer other agreements than the standard leases (ie. Advance payments, etc.) and often proceed with those unexpectedly without informing a potential tenant with who negotiations have began.
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Home owners are less flexible for negotiations as they have reached the lowest possible rental amount for their property (rents have decreased up to 40% over the last years) and they are not so willing in doing works in the properties.
