Gümülcine ranks as Greece’s most affordable major student city

Student housing rents in Greece’s major university cities have increased by an average of 128% over the past 10 years, but Gümülcine (Komotini) remains the most affordable destination among the six cities examined, according to a study by real estate valuation company GEOAXIS.

The study covers Atina (Athens), Selanik (Thessaloniki), Gümülcine (Komotini), Patra (Patras), Kandiye (Heraklion) and Volos, and is based on student apartment listings published during June and July 2026.

The findings show that asking rents for student accommodation increased by an average of 7.3% year-on-year, while the cumulative increase over the past decade reached 128%.

Athens remains the most expensive
Atina continues to have the highest asking rents for older, standard student apartments. Average rents in the capital reached €12.8 per square metre per month, representing a 5.9% annual increase and a 164% rise over the past decade.

Patra ranked second at €11.3 per square metre, with rents increasing by 8.1% over the past year and 148% over the past 10 years.

Selanik followed at €10.9 per square metre, recording an annual increase of 8.1% and a 127% increase over the decade.

At the other end of the ranking, Gümülcine recorded the lowest rent at €9.1 per square metre. It also had the smallest cumulative increase among the six cities, although rents have still risen by 84% over the past 10 years.

Gümülcine was followed by Kandiye at €10.2 per square metre, with a 119% decade-long increase, and Volos at €9.7 per square metre, where rents have risen by 126%.

The study also highlights a marked acceleration in rental growth in recent years. This contrasts with the relatively stable trend observed between 2017 and 2020.

Gümülcine has relatively young housing stock
The age of the housing stock varies considerably between the cities.

Selanik has the oldest typical student apartments, with a median age of 56 years. It is followed by Atina at 51 years, Patra at 29 years, Gümülcine at 27 years and Volos at 23 years.

Kandiye has the youngest student housing stock, with a median age of 20 years.

Overall, the study indicates that a typical student apartment in the cities examined is generally between 30 and 50 years old.

Typical student apartment measures around 40 square metres
Gümülcine is also among the cities with the largest typical student apartments.

Selanik, Kandiye and Gümülcine recorded a median apartment size of 40 square metres, placing them jointly at the top of the ranking.

They were followed by Atina and Volos at 34 square metres, while Patra recorded a median size of 33 square metres.

According to GEOAXIS, a typical student apartment generally measures between 30 and 40 square metres.

Private student residences gain ground
The GEOAXIS study also points to the emergence of a new market around “all-inclusive” private student residences, a trend that is now becoming visible in Gümülcine as well.

Organised services and greater security are among the main advantages offered by these residences compared with conventional student apartments.

A standard student apartment of around 35–40 square metres can typically be rented for approximately €350–€450 per month. Organised private student residences, meanwhile, generally command rents around 40% higher.

However, the rented space in private residences is approximately 30% smaller, while services such as electricity and internet are included in the rent.

The study suggests that insufficient capacity and varying quality in existing public university dormitories—from “acceptable” to “disappointing”—are helping drive demand towards private accommodation.

Real estate investment companies, construction firms, investors, funds and individual investors are increasingly turning their attention to the student housing market. GEOAXIS expects investment interest in the sector to strengthen significantly in the coming period.

Student housing rents expected to keep rising
GEOAXIS expects rental values to continue increasing in both conventional student apartments and private student residences.

The main factor behind the expected increase is the limited supply of housing compared with demand.

Demand for student accommodation is also expected to continue growing across Europe and Greece. One factor identified by the study is the increasing difficulty faced by younger generations in entering the labour market.

The report also points to the potential impact of artificial intelligence on entry-level jobs, arguing that the replacement of some junior positions by AI could create an additional barrier to young people's access to employment.