House prices in Greece continued to climb in recent times – across Athens and the rest of Greece, showing that the Greek economy is recovering strongly and receiving huge investor interest around the world.
The strong upward trend in home sales and rental prices continued into the second quarter of the year, data from the Spitogatos Real Estate Index (SPI) shows.
The largest annual increase in sales prices in Attica was recorded in the suburb of Egaleo (20.3%), followed by Kallithea, where the annual increase reached 19%. Accordingly, the average asking price in Moschato increased by 16.3%, while in Palaio Faliro and Alimos, the increase reached 14.7% and 15.8% respectively. Large increases were also observed in Pagrati (15.9%), Sepolia (15.4%), Rafina (17.2%) and Agia Paraskevi (14.9%).
The most expensive regions to buy a home are mainly cities in the southern suburbs such as Vouliagmeni (€5,600 / sq.m), Voula (€4,125 / sq.m), Alimos (€3,868 / sq.m), Glyfada (€3,846 / sq.m) and Elliniko (€3,571 / sq.m). In the downtown area, Kolonaki and Lykavittos have an average asking price of €4,000 / sq.m, while in the historic center the average price has gone up to €3,582 / sq.m. and in Elliniko, the current price averages at €3,571 / sq.m.
The cheapest areas to buy a home in the capital are Ano Liosia (€1,000 / sq.m), Agia Varvara, Tambouria and Agia Sofia in Piraeus, as well as suburban areas like Oropos and Skala Oropou (€1,028-1,042 / sq.m).
Nationally, Piraeus district recorded the highest average selling price increase at 11.9%, followed by Thessaloniki (11.7%), Larissa province (11.3%), the southern suburbs of Attica (10.9%) and Halkidiki (10.8%).
In terms of housing rents in the second quarter, compared with the second quarter of 2021, more increases were observed in the southern suburbs such as Vari-Varkiza (15.6%), Vouliagmeni (14.8%) and the center and port Piraeus (14.7%). Furthermore, Kifissia 17.9% and Nea Erythrea 12.5% in the north and Pangrati (14.1%) in the center of the capital also recorded notable increases.
The most expensive residential rental is still Vouliagmeni with €14.9 / sq.m. monthly, followed by Kolonaki and Lykavittos with €14.6 / sq.m and Psychiko with €14 / sq.m.
VNIS INVESTMENT
Source: Ekathimerini
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