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Investment project with the yield of 16.6%, Athens, Greece

50,000 €
980 € /m²
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Total area: 51 m²
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Features
  • Yield: 16.6%
  • Operating Incomе: 8,304 €
  • 1 floor
  • Notary (state registration): 1.5%
  • Acquisition tax: 3.09%

Direct Tranio product.

The essence of the project is the purchase and renovation of the apartment for a short-term lease.

Description

The area of the apartment is 51 m².

The apartment is located on the ground floor of the building and includes a living room, a kitchen, and a bathroom.

The cost of repairs is included in the price of the apartment.

Benefits 

The Possibility to obtain a residence permit for a group of investors and their families (spouses, their parents, and children) for the whole period of their tenure when buying one or more properties worth more than 250 thousand euros. 

Turnkey project — complete transaction support, consulting, professional management of the rental business.

Financial performance

With an average occupancy rate of 65% and an average daily rent of 35 €, the projected annual income is 8,304 €.

The projected yield of 16.6%.

Transaction costs

Notary — 1,5%.

Acquisition tax is 3,09%.

Legal services — 1.5% + 24% VAT.

The cost of ownership

According to preliminary calculations, the annual utility payments are 1,300 euros.

The cost of the management company services is 25% of the annual rental revenue.

Location

The property is located on a quiet street Niovis 39–41 in the center of Athens in close proximity to the Agios Nikolaos metro station. In this area, there are many shops, restaurants, and cafes. 

There are shopping centers, a supermarket, a parking and public transport stops in a walking distance from the building.

The nearest metro station Agios Nikolaos is 350 meters away, and the Acropolis is 4 km away.

Statistics in Athens

Price per m², €
1,528
Healthcare efficiency level
55
Index 55 from 100

The index reflects how respondents rank the overall level of healthcare quality, professionalism of medical staff, quality of equipment, cost of services, etc.

Safely rate
52
Index 52 from 100

When evaluating the crime level, Numbeo survey respondents (local residents) have shared their expectations of how safe would a lone walk in the part be for them during the day and night.

Real estate Price, €
Apartment in the city centre, m² 1,528.04
Apartment in a bedroom community, m² 1,613.63
Transport Price, €
Public transport, 1 ride 1.4
Monthly travel card 30.0
Taxi, 1 km 0.74
Petrol, 1 l 1.55
Food Price, €
Water, 1.5 l 0.86
Milk, 1 l 1.22
White bread, 500 g 0.81
Eggs, a dozen 3.03
Chicken fillet, 1 kg 6.9
Education Price, €
Kindergarten, per month 354.61
International school, per year 6,786.67
Health care index
Staff competence 62.72
Medical equipment 58.12
Research accuracy and completeness 56.68
Attitude towards patients 57.19
Security index
Crime rate 51.55
The risk of being robbed 46.48
The risk of car theft 53.66
The risk of break-in and property damage 55.78

The data is provided by numbeo.com and based on the answers of its users.
Tranio does not guarantee its reliability.

Show the entire statistics

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Inna Klimaeva
Inna Klimaeva
Real Estate Expert
+44 17 4822 0039
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