Οικονομοτεχνική μελέτη για την ανέγερση και εκμετάλλευση συγκροτήματος ενοικιαζόμενων κατοικιών σε αστικό περιβάλλον

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Keywords
Οικονομοτεχνική μελέτη ; Επενδύσεις ακινήτων ; Προεξοφλημένες ταμειακές ροές (DCF) ; Καθαρή παρούσα αξία (NPV) ; Εσωτερικός βαθμός απόδοσης (IRR) ; Καθαρό λειτουργικό εισόδημα (NOI) ; Ανάλυση επενδυτικής βιωσιμότητας ; Συγκρότημα ενοικιαζόμενων κατοικιών ; Αποτίμηση ακινήτων ; Αγορά κατοικίαςAbstract
This thesis presents a techno-economic feasibility study for the development and operation of a residential rental apartment complex in an urban environment. The study focuses on income-generating residential real estate investments, where returns are derived from rental income and the potential capital appreciation of the property. It examines the macroeconomic and housing market environment, the demand for urban housing, the competitive landscape, the project's technical specifications, the institutional and taxation framework, the operational management model, and the financial feasibility of the investment.
The proposed project consists of 18 residential units, each with an average net floor area of 45 m², resulting in a total net leasable area of 810 m². The base-case scenario assumes an average monthly rent of €900 per unit, an occupancy rate of 95%, operating expenses equal to 25% of gross rental income, and a total investment cost of approximately €2.997 million.
The investment is evaluated using Net Present Value (NPV), Internal Rate of Return (IRR), initial net yield, payback period, and sensitivity analysis. The results indicate that the project is marginally viable under the base-case scenario. However, its investment attractiveness can be significantly improved through effective cost control, high occupancy rates, appropriate rental pricing, and professional property management.


