Athens found themselves in second place among the most expensive cities in Europe in terms of housing costs relative to the income of citizens.
According to company research Deloitteto purchase a new home with an area of 70 sq. m, the Greek needs to spend 15.3 annual salaries (in terms of gross income).
Property prices are skyrocketing: Athens is the second most expensive city in Europe to buy a home pic.twitter.com/va9DjBmbOo
— Athens News (@russianathens) November 6, 2025
The leader of the rating was Amsterdamwhere the purchase of similar housing requires 15.4 annual earnings. Thus, the Greek capital has come very close to an absolute European anti-record.
When an apartment is a dream
The real estate market in Athens shows abnormal price rise even on old buildings. Example: apartment in the area Peristeri (center), built in 1974 and renovated in 2024, with an area of 50 sq. m, costs about 250.000 euros (5,000 euros per sq. m).
In the area Drapezona (Ag. Dionysios) new apartment with an area of 127 sq. m, scheduled for completion in 2025, is sold for 423.000 euros (3.331 euros per sq. m).
Even in Thessaloniki (Kato Tumba district), where the market is traditionally cheaper, housing with an area of 68 sq. m, built in 1976 and updated in 2025, is estimated at 176.000 euros (2.588 euros per sq. m).
Salaries don’t keep up
“Salaries do not correspond to prices at all“- comments the realtor Anna Mokaku in an interview with a TV channel Mega. According to her, even young professionals with a stable income cannot afford a mortgage without external family support.
Experts note that the increase in housing costs in Greece is associated with investor speculation, golden visas and mass short-term rentals. New buildings are being bought by foreign funds, while demand from local residents is not supported by rising wages.
As a result, as in Amsterdam, Lisbon and Barcelona, housing in Athens is becoming a luxury item rather than a basic necessity. According to experts, if the trend continues, then by 2030 buying an apartment for the average Greek will become almost impossible.
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