What is the effect of location on rental housing prices in Athens?

Abstract

Purpose – The aim of this study is to quantify the effect of location on rental housing prices in the city of Athens. Theoretical framework – The right to adequate housing is a fundamental human right defended by democratic societies. Therefore, it is of interest to examine housing tenures for both owned and rented accommodation. Design/methodology/approach – Geostatistical methods (regression-kriging) were used to obtain the results, which are represented on an isovalue map of rental housing prices displaying the minor and major effects of location by zone. Findings – This study highlights the impact of location on rental housing prices by showing how the rent of a standard dwelling in the city of Athens varies depending on its location. Research Practical & Social implications – The main social implications of this work is it helps investors determine where to direct investments and it assists public authorities in deciding where to focus urban management policies, in order to control the undesirable effects of an excessive rise in rents caused by tourism. Originality/value – The main originality of this paper lies in its isovalue map of rental housing prices for standard dwellings, which can also be interpreted as a locational isovalue map.