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Real Estate in Patras, Greece | Expat Exchange
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Real Estate in Patras, Greece

By Joshua Wood, LPC

Last updated on Oct 14, 2024

Summary: Expats and retirees talk about real estate in Patras, Greece? How do you find a home in Patras? Should you buy or rent? What is the cost of housing?

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How do I find a place to live in Patras?

We asked expats how they chose their neighborhood and found a place to live. They answered:

"Finding a place to live in Patras, involves several steps. First, you need to determine your budget and the type of accommodation you're looking for. This could range from a small apartment to a larger house, depending on your needs and financial situation. Next, you should research the different neighborhoods in Patras to find one that suits your lifestyle and preferences. Some areas might be closer to the city center, while others might be more residential or closer to the beach. Once you have a clear idea of what you're looking for, you can start your search. There are several online platforms where you can find listings for rentals in Patras, such as Spitogatos, XE, and HomeGreekHome. These websites allow you to filter your search based on location, price, size, and other features. In addition to online searches, you might also consider hiring a real estate agent. They can help you navigate the local market, arrange viewings, and negotiate contracts. Make sure to choose an agent who is familiar with the area and has a good reputation. When you find a place you're interested in, arrange a viewing to see it in person. This will give you a chance to check the condition of the property, ask questions, and get a feel for the neighborhood. Before signing a lease, make sure to read it carefully and understand all the terms and conditions. If you're not fluent in Greek, you might want to have a translator or a local friend help you with this. Finally, once you've signed the lease, you'll need to arrange for utilities and internet service, and then you can move into your new home in Patras," said one expat in Patras.

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What is a typical expat home or apartment like in Patras?

"A typical expat home or apartment in Patras, is often located in the city center or in the coastal areas, offering stunning views of the sea. These homes usually have a Mediterranean architectural style, with white-washed walls and blue accents, reflecting the traditional Greek aesthetic. The apartments are often spacious, with high ceilings and large windows that let in plenty of natural light. They typically have one to three bedrooms, a living room, a fully equipped kitchen, and one or two bathrooms. Some apartments may also have a balcony or a small garden. The interiors are usually modern and stylish, with comfortable furniture and all the necessary amenities such as air conditioning, heating, and Wi-Fi. Many expat homes are located in buildings with additional facilities like a swimming pool, a gym, or a parking lot. Despite being in the city, these homes are usually in quiet neighborhoods, providing a peaceful living environment," said one expat who made the move to Patras.

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What is the average cost of housing in Patras?

If you are thinking about moving to Patras, cost of living in probably a key consideration. Expats commented about the cost of housing:

"The average cost of housing in Patras can vary greatly depending on the location and size of the property. For a one-bedroom apartment in the city center, the monthly rent is typically around 300 to 400 euros. If you're looking to buy, the average price per square meter for an apartment in the city center is approximately 1,000 to 1,500 euros. However, prices can be significantly lower in the outskirts of the city or in less popular areas. It's also worth noting that the housing market in Greece has been affected by the economic crisis, so prices may be subject to change," remarked one foreigner who made the move to Patras.

Should I buy or rent a home in Patras?

If you have not spent a lot of time in Patras, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:

"The decision to buy or rent a home in Patras, largely depends on your personal circumstances, financial situation, and long-term plans. If you plan to stay in Patras for a long time, buying a home could be a good investment. Owning a home allows you to build equity over time and could provide financial security in the future. On the other hand, if you're unsure about your long-term plans or if your job requires you to move frequently, renting might be a better option. Renting offers more flexibility as you can move without the hassle of selling a property. It also allows you to avoid the costs and responsibilities that come with home ownership, such as maintenance and property taxes. It's also important to consider the real estate market in Patras. If property prices are high and continue to rise, buying a home could be a good investment. However, if prices are low or falling, it might be better to rent and wait for a better time to buy. Lastly, consider your financial situation. Buying a home requires a significant upfront cost for the down payment, closing costs, and other expenses. If you don't have enough savings or a stable income, renting might be a more affordable option. In conclusion, the decision to buy or rent a home in Patras, Greece, should be based on your personal circumstances, financial situation, and long-term plans. It's always a good idea to consult with a financial advisor or real estate professional before making such a significant decision," explained one expat living in Patras, Greece.

About the Author

Joshua Wood Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.

Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.

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