‘Flipping’ is gaining ground

The purchase of old apartments with the aim of renovating them and then renting them out or even reselling them at a profit is gaining ground in the Greek capital's property.

This practice, known as "flipping," has gained significant followers among people who have some funds available and are interested in obtaining an income from the utilization of houses, but at the same time with the possibility of future capital gains through the resale of the renovated property.

In fact, as the relevant data now show, the continuous growth in rents, and indeed at a faster rate than sales prices, has pushed yields upwards, especially during the last six months.

In this context, older and smaller houses in the center of Athens, but also in the western and now even the northern suburbs, are starting to become attractive for this purpose.

One such example concerns a...