May 30, 2024

Athens News

News in English from Greece

New rise in prices for rental and sale of real estate – which areas are the most expensive


Prices for renting and purchasing housing in Greece showed a new significant growth in the first quarter of 2024.

According to the Spitogatos portal, The average rental price of residential property in Greece increased by 8.0% compared with the first quarter of 2023 And by 2.9% compared to the previous quarter. Regarding residential real estate sales, then the average asking price increased by 11.4% year-over-year and by 2.3% compared to the fourth quarter of 2024.

If a year ago they asked for 350 euros/month to rent a small 1-room studio in the center of Athens, now it’s difficult to find cheaper than 500…

Attica and Thessaloniki: regions with the largest price increases

At the top of the list of areas with the greatest increase in the average asking price for the sale of residential real estate in Attica are the following areas: Piraeus like Gallipoli-Fretida, Drapetsona and center. They are followed Neo Psychico, where the average asking price of a home increased by 34.9%, and Pallini, where the growth was 34.4%. In Thessaloniki Harilau (2538 euros/sq. m), Ano Poly (1,849 euros/sq. m) and Pefka (1,714 euros/sq. m) were among the areas with the largest increase in average asking price in the first quarter of 2024.

Renting a home in Greece: how to avoid falling into the trap, the “secrets” of a good deal

In the field rental the picture is slightly different: largest increase in average price residential real estate supply in Attica fixed in the northern suburbs of Athens, Piraeus, Eastern Attica and southern suburbs. In particular, the largest price increase was recorded in Nea Penteli, Gallipoli-Freatida, Koropi, Imittos and Kaminia-Palea-Kokkinia. In Thessaloniki, the areas with the largest increase in average asking price for rental housing are Vardaris – Lahanokipi (9.7 €/sq. m), Michanion (6.0 €/sq. m) and Xirokrini – Panagia Faneromeni (7.4 €/sq. m).

The most expensive areas to buy a home

The most expensive areas in Greece to buy a house in the first quarter of 2024 are located on the Aegean islands and in the southern suburbs of Athens. In particular, the most expensive areas are Mykonos, Vouliagmeni, Voula and Hydra, interesting to see Patmos in the first positions of the rating, apparently due to advertising from Hollywood stars.

In the same time 5 most expensive areas of Attica for buying a home in the first quarter of 2024 – this is Vouliagmeni, Voula, Kolonaki-Lykabettos, Glyfada and Alimos. Against, the most accessible The areas to buy a house in Attica are Agia Varvara (1,269 €/sq. m), Perama (1,343 €/sq. m), Patission-Acharnon (1,424 €/sq. m), Agios Ioannis Rentis (1,429 €/sq. m) and Patisia (1,439 €/sq. m). However, from a security point of view, they leave much to be desired.

Rental of property

Rent an apartment in Greece for refugees

When it comes to home rentals across the entire area, the areas with the highest average rental prices are those with high tourism interest and a significant boost to short-term rentals. Top five most expensive areas for rent included Pallini in Halkidiki, Sithonia and Kassandra, Mykonos, Kalikratia in Halkidiki and Paros.

The most expensive in Attica areas for rental housing have again become southern suburbs: traditionally takes first place Vouliagmeni with an average price of 18.1 € / sq.m. They follow him Kolonaki – Lykabettos, Paleo Psychiko, Glyfada and Elliniko. At the opposite end of the spectrum in top five most affordable areas of Attica for rental housing include Agios Anargyros (7.0 €/sq.m), Agios Ioannis Rentis (7.1 €/sq.m), Perama (7.3 €/sq.m), Kryoneri (7.3 €/sq.m) and Dionysos (7.6 €/sq.m) (with the latter it’s generally strange, since these are traditionally very expensive areas. However, with a disgusting situation with public transport.

Inspectors found violations on the shores of Lake Vouliagmeni

Rodon lake Vouliagmeni in the same area of ​​greater Athens


International and domestic demand for the purchase and rental of housing in Greece

International demand for the purchase of houses in Greece increased by 11.8% compared to the first quarter of 2023, according to online search data from foreign countries. 6 countries with the greatest interest in buying houses in Greece in the first quarter of 2024: Germany, Israel, USA, UK, Australia and Bulgaria.

The areas of the country that attract the most interest from abroad for home purchases are the center Athens, Chalkidiki, southern suburbs, suburbs of Thessaloniki and Cyclades. The most popular housing categories for those looking for housing from abroad are apartments, private houses and villas.

In terms of domestic demand, according to online search data, the most popular areas for finding homes for sale are suburbs of Thessaloniki, the center of Athens, its southern and northern suburbs, as well as the center of Thessaloniki.

The most popular housing categories are detached houses, apartments and studios.

Areas of the country with the highest domestic demand for rental housing – This the center of Athens, the southern suburbs, the suburbs of Thessaloniki, the northern suburbs of Athens and the municipality of Thessaloniki. Concerning categories of housing for rentthen the most popular among Greek residents are apartments, studios and detached houses.



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