After years of preparing for the Panhellenic exams, Greece’s national university entrance tests, many students have now earned a place at university. Finding housing close to their chosen university is proving to be equally challenging in many instances.
For families, the search comes on top of a household budget already stretched by inflation. Sending a child to study in another city effectively means paying for two households at once, and parents are now weighing every line item, from square footage and building fees to how far an apartment sits from campus and how large a deposit it requires.
The Hellenic Authority for Higher Education (HAHE) counted 872,882 students in 2023, undergraduates, graduate students and doctoral candidates combined, of whom roughly half are considered active. Against that total, the supply of organized, affordably priced student housing is thin.
Rents rising for a third straight year
According to real estate professionals, rents for student housing have increased every year for the past three, though not at the same pace in every city. The supply of small apartments has not kept up with demand. Several factors are squeezing the market at once: construction of new housing slowed in recent years, short term rentals have pulled units out of the long term market, and demand for small homes has grown for reasons beyond students alone, including a rise in single person households following divorces.
A recent restriction on new short term rental licenses in central Athens has yet to show any measurable effect on supply. Some real estate professionals also worry that a property’s Real Estate Registry Number, the code required to list a home for short term rental, could itself become a tradable asset, allowing two apartments in the same building to carry two very different prices depending on whether that registration comes attached. Industry sources say that even if landlords shift units back into long term leases, it is unlikely to resolve the shortage on its own.
What students are paying, city by city
Pricing data compiled byIoannis Ziavras, owner of the RE/MAX Properties Investments real estate offices, gives a sense of the range renters face this year.
In Athens, a renovated and furnished studio of 25 to 40 square meters is asking 16 to 19 euros per square meter. The same apartment without furniture drops to 14 to 17 euros, and an unrenovated unit falls to 13 to 14 euros. Thessaloniki follows a similar pattern, with the top category at 14 to 16 euros, a renovated but empty apartment at 12.5 to 15 euros, and an older property at 11 to 12 euros.
Patras offers a lower range of 12 to 15 euros, 11 to 13 euros and 8.5 to 10 euros for the same three categories. Heraklion reaches 13 to 15 euros for furnished units, and Kalamata runs from 13 to 16 euros. Xanthi has the lowest starting point in the survey, from 8 euros for an unrenovated apartment up to 12 euros for a move in ready home. Furnishing alone typically adds 2 to 3 euros per square meter to the asking price, while renovation adds another 15 to 30 percent.
Prices shift again in the neighborhoods that sit closest to major universities. In Athens, properties in areas such as Zografou and Neos Kosmos, reach 17 to 19 euros per square meter for a renovated, furnished apartment. Kypseli runs 16 to 17 euros, while Piraeus, Aigaleo and Patisia sit around 16 euros. Students willing to stay in an older apartment that has not been renovated can find lower rates in some of the same neighborhoods: Patisia drops to 10 to 11 euros and Aigaleo to 11 to 12 euros, compared with 14 to 15 euros in Zografou. In practical terms, a small apartment of 45 to 55 square meters can run as high as 680 or 720 euros a month in some of these areas.
How to search without overpaying
Housing experts have a consistent piece of advice: do the math before the first viewing, not after. The number that matters is total monthly cost, not the rent alone. An apartment listed 40 euros cheaper can turn out to be the pricier option once high building fees, old window frames, electric heating or a two leg commute are factored in, so any comparison should account for utility bills, transportation and whatever furniture or appliances still need to be bought.
Waiting until September to start looking is another common mistake, brokers say. As the start of the academic year approaches, the pool of available apartments shrinks and tenants lose negotiating leverage. It pays to search across multiple neighborhoods rather than settle for the first apartment viewed, and to judge distance from campus by actual commute time rather than distance on a map. An apartment next to a metro station or a frequent bus route can be more practical than a pricier one located closer to campus.
Listed asking prices are not always final, according to market sources. An apartment that has sat empty for a while may leave room to negotiate a lower rent. Consistency as a tenant, a willingness to move in immediately, and, for families with the cash on hand, paying a full year in advance can all serve as leverage for a discount, though any advance payment arrangement should be put in writing, with the terms spelled out in full, to avoid disputes later.
Nine month leases as an alternative
In cities with strong tourism demand, a nine month lease can meaningfully reduce costs. Under this arrangement, a student can rent a furnished apartment with electricity, water, building fees and internet included in the price, while the landlord is free to rent the same unit short term or seasonally over the summer. This allows students and their families to avoid paying for the summer months when student apartments usually sit empty. Students considering this option should confirm that the move in and move out dates line up with exam periods and university schedules before signing.
Inspect before paying
Brokers with experience in the student market say the property should be inspected thoroughly before any money changes hands, not after. Run the taps to check water pressure, turn on the boiler, and look over the electrical panel, windows and any furniture or appliances that come with the place. Note anything already broken or worn in writing before signing, so there is no argument later about who caused it.
Once a lease is signed, tenants typically hand over the current month’s rent plus a deposit of one or two months if the apartment comes furnished. That payment should go through a bank transfer, never cash, and should be tied to a written agreement and a registered electronic lease. Skipping either one leaves students and their families with nothing to fall back on if a dispute comes up down the line.
Renovated versus older: doing the math
Choosing between a renovated apartment and an older one requires a careful calculation. On a 35 square meter apartment, a difference of 4 euros per square meter works out to 140 euros a month, or 1,680 euros a year. If the cheaper, older apartment requires buying a refrigerator, bed and desk, plus painting and higher heating bills, that initial savings can disappear quickly. On the other hand, a family that already owns furniture, or can bring it from home, has good reason to look at unfurnished apartments and skip the 2 to 3 euro per square meter premium that furnishing typically adds.
Private dormitories as another option
Private student dormitories, often housed in renovated buildings or former hotels, operate in Athens, Thessaloniki, Patras, Komotini, Chios and Heraklion. Furnished rooms of 15 to 25 square meters cost 450 to 650 euros a month, roughly 20 to 30 percent more than a typical student apartment, but that higher price usually includes security, electricity, water, heating, internet and shared common areas, which is why the fairer comparison is total monthly cost rather than the bare rent figure. Most dormitories offer flexible payment options, including a single annual payment or installment plans of three, six or twelve payments, some of which can be paid by credit card.
