Housing prices in Athens rose by 90% in seven years

Housing prices increased by 7.8% in the annual calculus in the third quarter and on 9.2% For nine months of 2024, according to the latest data.

The prices of office premises and commercial stores rose by 4.2% And 7.8% Accordingly, in the annual calculus for the first half of 2024. The growth rate of housing prices and offices show slowdown, while the price of prices for commercial stores continues to grow with acceleration.

Since 2017 the years when real estate prices began to rise again, housing prices increased in conjunction for 71%offices for offices – for 32%and prices for commercial stores – for 43%. The greatest increase are recorded in the two largest cities: Athens And Salonikiwhere the total increase in housing prices between 2017 And 2024 For years compiled 90% And 85% respectively.

According to the recent report TRAINSED GreeceInvestment interest in commercial real estate remains high, while the funds of the first half of 2024 are mainly sent to the tourist sector, professional warehouses and office premises with modern bioclimatic characteristics.

In the medium term, the sector with the greatest growth prospects remain approximately the same: special residential premises, professional warehouses near the center and suburbs Athensdata processing centers, high -quality tourist objects and offices with bioclimatic design. According to the results of the study, the possibilities regarding commercial real estate in Greece in the medium and long term are related to:

• (i) by modernization of infrastructure, mainly in Athens and in the north of Greece, the region, which is expected, will play an important role as a transport hub and a gate for communication with Europe;
• (II) the development of social and affordable residential premises within large city projects;
• (III) energy modernization of private and state buildings, which is an important initiative included in National plan for restoration and sustainability (Nrrp).

On the other hand, as indicated in the study Alpha BankThe uncertainty is mainly associated with wide geopolitical instability, high energy costs and raw materials, the development of tourism, as well as the negative consequences of climate change, which is expected to lead to the introduction of new standards and, therefore, to high cost costs.

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