Housing prices in Greece grew by 7.7% in the third quarter of 2025. Prices go up the fastest old apartments and objects in Thessaloniki. According to Bank of Greecethe rise in real estate prices continues despite the cooling in demand. Old apartments the new ones are again ahead in terms of dynamics.
According to Bank of Greecepublished today, property prices continue to rise steadily. In the third quarter of 2025 cost of apartments throughout the country increased by 7.7% compared to the same period last year.
The difference in dynamics between new and old objects is especially emphasized. New apartments (up to 5 years) increased in price by 6.6%whereas old apartments showed a sharper increase – 8.5%. This confirms the steady demand for secondary housing, which continues to “pull” the market upward.
In terms of geography, the picture looks heterogeneous. Athens recorded an increase of 6.6%whereas Thessaloniki confidently ahead of the capital with an indicator 9.6%. In other major cities the growth was 8.9%and in other regions – 8.5%. According to the regulator, such dynamics continue the trend of shifting buyer interest to second-tier cities and the provinces, which has been observed since 2023.
Comparison with previous years confirms a slowdown, but not a halt in growth. In 2024, prices increased by an average of 9.1%and in 2023 – to impressive 13.9%. At the same time, in the segment of new apartments, the average annual growth in 2024 was 10.2%and in 2023 – 12.9%. In the category of old apartments the indicators were 8.3% And 14.5% respectively.
The report highlights that in urban areas of the country, where demand is most stable, average prices also increased by 7.7%. For the entire 2024, the average annual dynamics for these zones was 8.7%.
According to experts, the market remains overheated, but there are no factors for a sharp decline yet: a shortage of supply in key areas, the activity of foreign buyers and stable demand from local households continue to support an upward trajectory.
Apartment price indices
| Indicator | 2023 | 2024* (year) | 2024* (Q3) | 2024* (Q4) | 2025* (Q1) | 2025* (II quarter) | 2025* (Q3) |
|---|---|---|---|---|---|---|---|
| I. Country total | |||||||
| Price index (2007=100) | 92.3 | 100.7 | 101.6 | 102.5 | 105.5 | 107.8 | 109.5 |
| Change from previous year (%) | 13.9 | 9.1 | 8.6 | 7.2 | 7.1 | 7.6 | 7.7 |
| II. By age of construction | |||||||
| 1. New apartments (up to 5 years) | |||||||
| Price index (2007=100) | 96.1 | 105.9 | 107.2 | 108.7 | 110.8 | 112.7 | 114.3 |
| Change from previous year (%) | 12.9 | 10.2 | 10.0 | 9.0 | 8.0 | 7.1 | 6.6 |
| 2. Old apartments (over 5 years old) | |||||||
| Price index (2007=100) | 89.9 | 97.4 | 98.1 | 98.6 | 102.1 | 104.8 | 106.5 |
| Change from previous year (%) | 14.5 | 8.3 | 7.6 | 6.0 | 6.5 | 7.9 | 8.5 |
| III. By geographical area | |||||||
| 1. Athens | |||||||
| Price index (2007=100) | 98.1 | 106.4 | 107.0 | 108.1 | 110.3 | 112.5 | 114.0 |
| Change from previous year (%) | 13.9 | 8.5 | 7.9 | 6.6 | 5.5 | 6.1 | 6.6 |
| 2. Thessaloniki | |||||||
| Price index (2007=100) | 87.3 | 97.5 | 99.1 | 99.9 | 103.7 | 106.0 | 108.6 |
| Change from previous year (%) | 16.6 | 11.7 | 11.2 | 9.7 | 10.4 | 9.1 | 9.6 |
| 3. Other major cities | |||||||
| Price index (2007=100) | 87.2 | 93.8 | 94.9 | 95.4 | 98.5 | 101.8 | 103.3 |
| Change from previous year (%) | 15.0 | 7.5 | 6.8 | 5.2 | 7.3 | 9.4 | 8.9 |
| 4. Other areas | |||||||
| Price index (2007=100) | 87.4 | 96.9 | 98.1 | 98.9 | 103.0 | 104.8 | 106.5 |
| Change from previous year (%) | 11.6 | 10.9 | 10.8 | 9.7 | 9.4 | 8.6 | 8.5 |
| 5. Urban areas (total) | |||||||
| Price index (1997=100) | 237.5 | 258.2 | 260.6 | 262.7 | 269.4 | 276.1 | 280.6 |
| Change from previous year (%) | 14.2 | 8.7 | 8.0 | 6.5 | 6.4 | 7.6 | 7.7 |
* preliminary data; ** temporary estimate. For all rows, the index base is 2007=100, except for “Urban areas (total)”, where the index base is 1997=100.
More Stories
India seeks rare earth metals in Russia and Africa amid pressure from China
The new “super service” of AAΔΕ: ΓΔ – ΔΕΟΣ takes control of all special investigations
Insurance premiums: self-employed and farmers in Greece to rise by 2.5% in 2026