According to recent data tracking property yields, one of the most striking developments is the growing gap in many areas between rising sale prices and comparatively slower rental growth. In much of the market, property values have increased at a faster pace than rents, resulting in declining investment returns, as buyers now need more years of rental income to recover the cost of a purchase.
This trend is particularly evident in central Athens, where the average number of annual rents required to buy a home rose from 161 in 2019 to 212 in 2025, signaling a clear deterioration in yields. In the city’s historic center, the imbalance is even more pronounced, with the figure climbing to 317 rents, underlining how sharply sale prices have outpaced rental increases.
A similar pattern has emerged in the southern suburbs of Athens, traditionally among the most sought-after residential areas due to their proximity to the coast. There, the index rose from 241 to 311 rents, pointing to a substantial compression of returns. In the suburb of Argyroupoli, the figure reaches as high as 387 rents, illustrating just how strongly property prices have surged compared to rental values.
The western suburbs tell a comparable story, albeit slightly less intense. The number of rents required to purchase a home increased from 202 to 238, while in Petroupoli it stands at 335. The port city of Piraeus, part of the greater Athens urban area, has also followed this trajectory, with the index rising from 184 to 242 rents. In the nearby area of Neo Faliro, the figure climbs further to 284, reinforcing the broader pattern of weakening yields.
In the suburbs surrounding Piraeus, the shift is equally notable. The index increased from 181 to 241 rents, while in Drapetsona it reaches 332. These figures suggest that, here too, property prices have risen more rapidly than rents, making real estate investments less attractive than in the past.
Not all areas, however, show the same degree of imbalance. In the northern suburbs of Athens—generally considered more affluent residential zones—the index rose only slightly, from 271 to 288 rents, indicating that sale prices and rental values have moved largely in tandem. Even so, there are exceptions: in Papagou, for instance, the index reaches 459 rents, reflecting particularly low yields.
In the eastern suburbs, the change is even more modest, with the index increasing from 250 to 256 rents, suggesting a relatively stable relationship between prices and rents. Yet disparities remain here as well, as seen in Gerakas, where 331 rents are required to purchase a home, pointing to weaker returns than the regional average.
A different trend appears in the rest of Attica, outside the main urban zones. There, the index declined from 246 to 221 rents, indicating that rental prices have risen faster than sale prices, leading to an improvement in yields. Even in these areas, however, there are outliers such as Saronida, where 333 rents are needed to acquire a property.
Taken as a whole, the data paint a picture of a highly uneven market. Most areas are experiencing pressure on returns as property prices climb more rapidly than rents, while a smaller number of locations remain balanced or even show improving investment performance, depending largely on the strength of rental growth.
