While the smallest apartments on the market, studios/studios, appear to gain up to 12%, depending on the area, the slightly larger two-bedrooms have almost half the increase.
Mathematics that make even more people rethink the solution of cohabitation, which is already on the rise in Greece. The logic is that, while in many areas of the country and especially where there is a high demand, such as Athens and Thessaloniki, studio rents have climbed above 400 euros (in market price), the two-bedroom apartments that can accommodate two people are offered close to 600-700 euros. Close to half the price, where if the sharing between the roommates of the remaining expenses (electricity, water, telecommunications, etc.) is calculated, then the benefit can easily exceed 50%. With the average total cost of housing for a small apartment of 70 sq.m. calculated to be close to 1,050 euros, the 500 euros allocated to each of the roommates is almost only the rent they would pay if they each chose to stay in their own smaller apartment.
The benefit is even greater as the number of people who decide to live together increases. A rising trend is cohabitation between three friends or acquaintances. In this case, as the cost per square meter drops even further while the bills are shared by three, the estimate calls for a benefit of close to 65% for each, compared to the housing costs they would have borne if they each chose to stay on their own. in a studio apartment.
Cohabitation is obviously not a solution that everyone can choose, but especially in categories such as young workers, students and bachelors, it can become a solution to the housing problem. According to market data, a studio of 40 sq.m. costs 12-18 euros/sq.m., when an apartment of 70 sq.m. it requires approximately up to 12 euros/sq.m., always depending on the area and the special characteristics of the property. Returning to students, many of whom are still in the process of looking for housing, we point out that the housing allowance favors cohabitation, as it becomes larger. The student receives 2,000 euros, i.e. 4,000 euros for two roommates, instead of the 1,500 euros he would receive if he lived alone. It is beneficial, especially in 2024 when the total amount increases by 500 euros, if it is a student studying in cities other than Athens and Thessaloniki.
RENT BURDEN COMPARISON STUDIO 1 PERSON VS DOUBLE ROOM WITH 2 PEOPLE (€)
| Region | Studio up to 50 sq.m. | Two-bedroom apartment up to 70 sq.m.
(cost for 2 people) |
Cohabitation benefit (in the cost of rent) |
| America Square | 380 | 550 (275) | 105 |
| Agios Panteleimonas | 320 | 450 (225) | 95 |
| Kato Egaleo | 400 | 600 (300) | 100 |
| New Philadelphia | 550 | 700 (350) | 200 |
| Dove | 500 | 700 (350) | 150 |
| Petersburg | 470 | 550 (275) | 195 |
| Kallithea | 480 | 600 (300) | 180 |
| New Smyrna | 500 | 700 (350) | 150 |
| Holargos | 550 | 650 (325) | 225 |
| New Eritrea | 600 | 750 (375) | 225 |
Source: Ads data available 08.08.2024
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