Rents increased by 3.2% in 2024 - Impacted by improved infrastructure and tourism
High demand, the development of new areas with improved infrastructure, and increased tourism have caused rents to increase by 3.2% over the past year compared to 2023.
According to the Institute of Statistics, although for the last 5 months of the year, the index rate decreased significantly, registering below 1.6%, this decrease did not have the expected impact on reducing rental prices.
The highest monthly rent growth rates were recorded in the first months of the year, where from January to the end of April the indicator has been constant at 4.4% each month, according to INSTAT. On the other hand, the last month was the one with the lightest growth in the last 2 years, where it was recorded at the level of 0.9%.
One influential factor that has spread over recent years and contributed to the increase in rental prices is "Airbnb", or daily rentals.
The increase in the number of tourists, mainly during the summer season, directly affects the increase in demand, while also increasing consumer demand.
This trend has brought about noticeable changes in the rental market, making it more challenging to find long-term rental housing in major cities.
Along with tourism, infrastructure improvements have also had an impact. With the development of roads, areas have become more accessible, increasing property values, which has led to a higher demand for rental apartments.
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