Mr. Schertsos, among other government policies such as “My Home”, announced a new platform for real estate pricing for each neighborhood. As he mentioned, the goal for 2025 is to rationalize prices and this platform, where the data exists in AADE, will help a lot.
“At the moment there is an explosive increase in demand to rent and to buy houses and there are not enough properties. This, together with the pressures of tourism and short-term letting, is driving up prices. And indeed there are now excessively high prices in many areas, especially urban centers and tourist areas, which are particularly difficult for young people who do not own their own homes. to find a residence”, emphasized Mr. Schertz.
“We are not immune to this problem. The government these days legislated the policy called “My house”, in which at least 10 to 12 different income support interventions are implemented, so that young people, and not only young people, can acquire with a subsidized interest rate their own their house or to rent at a lower rent also their own house. The cheap housing loans that we have secured after negotiation with the European Commission and will come from January 2025. It will enable approximately 20,000 new households, new couples or even individual households to acquire their own home”, he added in continuity.
“We will give, via the platform of the Ministry of Finance, the possibility to post the contracts concluded either for purchases or for leases, obviously anonymized, in every neighborhood, in every region, in every city of the country,” the Minister emphasized regarding the transparency of prices State Akis Skertsos.
“What good will that do? There is a nominal price that is displayed on the sites that promote the ads, but the actual price is lower. In other words, an artificial image of the prices that exist in the market is thus created, without finally knowing where the owner agrees with the tenant. This platform, where the data exists in AADE, will help a lot in streamlining them. It is a goal for 2025,” he pointed out.
At the same time, according to a report by “Apogeumatini” and Dorotheos Logothetis, the highest yields for investors in the housing market are now transferred to the most degraded areas of Attica, as the value of real estate and rents rise at a higher rate and have a greater room to become even more expensive, to the benefit of owners and to the detriment of those looking for housing.
The latest surveys by real estate companies, according to “Apogeumatini”, show that owners who rent houses, e.g. in Ano Dafni, in Platia Amerikis, in Larisis Station, in Kypseli and other neighborhoods that are considered second class, today they earn more from an investment e.g. in Kolonaki, as their annual gross returns range from 6% to over 7% compared to 3%-4% for the more expensive Center area. These yields exceed by at least twice the annual inflation and are three times that of term bank accounts. The reason why real estate investors or owners are snapping up houses and apartments in these areas has to do with the large increase (from 80% to 100%) already registered in the last few years in the sought-after residential zones “prime screening” (northern and southern suburbs), where further scope for large growth is limited.
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