Athens: lowest house sale prices

Despite the fact that asking prices for real estate in Greece have set another record, there are still areas in Athens where housing costs are still relatively low.

These are areas that are not in great demand, considered “disadvantaged”. However, they also have unobvious advantages.

According to Protio, the lowest home sales prices in the first five months of 2024 are observed in the following areas of Athens:

1. Americas Square (Πλατεία Αμερικής), the average asking price is 1505 euros per sq.m.

2. Kato Patisia (Κάτω Πατήσια) – price 1550 euros per sq.m.

3. Agia Paraskevi in ​​the Acharnon area (Αγία Παρασκευή στην περιοχή των Αχαρνών) – price 1571 euros per square meter.

4. Attikis Square (Πλατεία Αττικής) – price 1572 euros per square meter.

Prices remain relatively low at the Larisa station (Σταθμό Λαρίσης), where the cost of real estate is 1,620 euros per sq.m., as well as at Victoria Square (Πλατεία Βικτωρίας) – 1,660 euros per sq.m. Economical options include Patisia and in particular the Gravas area, with a price of 1678 euros per sq.m.

And although in some areas western suburbs there was a significant increase in prices, there are still areas that maintain more affordable prices compared to the rest of Athens. For example, the cost of real estate in Korydallos (and specifically “Filakas”) is 1694 euros per sq.m.

The top ten with the lowest housing prices in Athens is completed by Egaleo, with an average asking price of 1,730 euros per square meter, and Antoupolis, with 1,736 euros per square meter..

Meanwhile, according to the Bank of Greece, the annual rate of change in prices for new apartments was 10.8%, and for old apartments – 10.1%.

Depending on the geographical location, the annual rate of change in apartment prices was 9.4% in Athens, 12.2% in Thessaloniki, 10.3% in other major cities and 12.1% in the rest of the country.

Based on available preliminary data, it is estimated that in the first quarter of 2024, apartment prices (in nominal terms) increased by an average of 10.4% compared to the corresponding quarter of 2023. In 2023, the average annual rate was 13.8% (revised), compared with growth of 11.9% in 2022.

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