kathimerini.gr
Greek Apartment Renovations Boost Rental Prices by up to 74.4%
A Protio study reveals that renovating apartments in Greece before renting increases rental prices by an average of 26%, reaching up to 74.4% in areas like Ymittos; 65% of rental apartments are unrenovated, while 89% of the country's housing stock is over 25 years old.
- What is the impact of apartment renovations on rental prices in Greece, and how does this affect both landlords and tenants?
- Renovating apartments before renting in Greece adds significant value, increasing rental prices by an average of 26%, according to a Protio study. In areas like Ymittos, this increase can reach 74.4%. 65% of currently available rental apartments are unrenovated.
- What factors contribute to the high percentage of unrenovated rental apartments in Greece, and how does this relate to current economic conditions?
- The high percentage of unrenovated apartments (65%) in Greece, coupled with a large stock of older buildings (89% over 25 years old), creates a market imbalance. This disparity explains high rental costs for substandard housing and the strong renter preference for renovated properties.
- How will government incentives, such as the updated "Anakainezō-Noikiázō" program, influence the Greek rental market in the coming years, and what are the potential long-term consequences?
- The increased profitability from apartment renovations in Greece highlights a significant market trend. Government incentives like the "Anakainezō-Noikiázō" program, now offering 60% subsidies up to €8,000, aim to stimulate renovations and address the housing shortage. This suggests further market shifts toward higher-quality, energy-efficient rentals.
Cognitive Concepts
Framing Bias
The article is framed positively towards apartment renovations, highlighting the significant increase in rental value and the government program supporting renovations. The headline (while not explicitly given) would likely emphasize the financial benefits for landlords. The focus is on the advantages for landlords, neglecting potential challenges for tenants faced with higher rental costs.
Language Bias
The article uses positive language when describing renovated apartments, referring to them as offering "superior quality of life" and being a "better home." In contrast, unrenovated apartments are described using more negative terms, implying that they are in "poor condition." Neutral alternatives would include describing the differences in features and amenities rather than using subjective value judgments.
Bias by Omission
The article focuses heavily on the benefits of renovating apartments for rental purposes, without exploring potential drawbacks such as the high cost of renovation or the possibility that the market might not support such high rental prices in all areas. It also omits discussion of alternative solutions for landlords who cannot afford renovations, like offering rent reductions or focusing on other property improvements.
False Dichotomy
The article presents a false dichotomy between renovated and unrenovated apartments, suggesting that only renovated apartments are desirable and viable rental options. It neglects to consider the possibility of other factors influencing rental prices or tenant preferences.
Sustainable Development Goals
Renovating older apartments increases their rental value, leading to better housing conditions and potentially attracting investment in urban areas. The article highlights a government program to incentivize renovations, further supporting sustainable urban development. Improved energy efficiency from renovations also contributes to environmental sustainability within cities.