Owners’ gains from renovating

• 26 February, 25

Renovated homes offer owners premiums up to 25.7% in terms of sales prices and up to 15.1% in rental rates compared to those that have not been renovated, per a study by ReDataset, the Data & Analytics Department of Resolute Cepal Greece (RCG), which shows that the greatest profits arise in areas where the percentage of renovated properties is relatively low.

For example, in terms of sales prices, Markopoulo stands out with premiums of 25.7%, followed by Pikermi with 25% and Piraeus with 24.3%. Especially in Markopoulo and Pikermi, both in Eastern Attica, it appears the stock of renovated properties is only 11.5% and 8.5% of the total (and 26.6% in Piraeus), which shows that it is easier to distinguish renovated properties and of course to pay the corresponding surplus value. The largest concentration of renovated homes for sale is in Vouliagmeni with 39.6% of the total, in Filothei with 27.8% and in the center of Athens with 27.3%.Unmute

On Friday the platform for the improved “I Renovate – I Rent” subsidy program will be activated. It aims to facilitate the renovation of closed apartments so as to rent them out and increase supply. The maximum amount of the subsidy has been doubled to 8,000 euros as a subsidy of up to 60% of the work is now provided, with a €13,500 ceiling.

Cre: ekathimerini