Data from Spitogatos, a real estate agency in Athens and Thessaloniki, provides clear evidence that house prices and rents continue to rise in the third quarter of 2024.
On the one hand, there is a high demand for student housing, and on the other hand, there is the summer season, which traditionally contributes to an increase in demand for housing.
According to Spitogatos, average asking prices for residential sales in Greece increased by 6.8% in the third quarter of 2024 compared to the same period in 2023. At the same time, average asking prices for rentals increased by 7.6%.
Most high house prices are observed in the southern suburbs of Athens and the Cycladeswhile the most affordable options can be found in Kastoria and Florina. In the third quarter of 2024, the list of the most expensive areas to buy a home included the southern suburbs of Athens, the Cyclades, the northern suburbs of Athens, Lefkada and Piraeus. The ranking of the most expensive areas for rental housing is topped by:
- southern suburbs of Athens,
- Cyclades,
- northern suburbs of Athens,
- center of Athens,
- Piraeus.
It is worth noting that Halkidiki is also among the most expensive areas to rent in Q3 2024, with short-term rental prices continuing to put upward pressure on overall rents. Against, The most affordable areas for buying a home are in the north of mainland Greece, among which are Kastoria, Florina, Karditsa, Kozani and Drama.
Regarding rentalthen the cheapest areas include Kilkis, Pella, the rest of Thessaloniki prefecture, Imathia and Phokis.
The largest increase in the average asking price of houses for sale in the third quarter of 2024 compared to the corresponding period in 2023 was recorded in the Piraeus region – 27.8%.
In the field housing rentals the rest of Thessaloniki prefecture ranks among the regions with the largest increases in average asking price for rental housing across the country, with an increase of approximately 20%.
The most expensive areas of Attica to buy a home in the third quarter of 2024 include Vouliagmeni, Voula, Glyfada, Kolonaki-Lykabettos and the Papagou area, where prices reach the highest levels. In terms of rental housing, the areas of Attica with the highest average asking prices in Q3 2024 again include Vouliagmeni, Kolonaki-Lykabettos, Glyfada, Paleo Psychiko and Voulou. The most affordable rental housing options can be found mainly in the western suburbs, the suburbs of Piraeus and the center of Athens.
In the housing market, the most economical areas are Agia Varvara, Perama, Acharnes, Patision-Acharnon area and Patisia, offering more affordable housing options. Piraeus and its suburbs are ranked as the best areas with the largest increase in average asking price for housing in Attica for Q3 2024. In particular these include: the center of Piraeus (port) – 36.0%, the Tambouria-Agia Sofia area – 33.8%, Drapetsona – 31.6%, Anfusa – 29.7% and Agios Ioannis Rentis – 27.9% .
Regarding rent, then the largest increase in the average asking price of rent in the 3rd quarter of 2024 compared to the corresponding period in 2023 was noted in Neo Faliro – 31.4%, Agios Stefanos – 24.9%, in Piraiki-Hatsikiriakeo – 23.3%, Vari-Varkiza – 23.0% and Marathonase – 22.2%.
The largest increase in the average asking price of a house for sale in the 3rd quarter of 2024 compared to the same period last year was observed in the suburbs of Thessaloniki, including the areas of Menemeni – 21.7%, Ejedoros – 18.7% and Thermaikos – 18.1% .
As for rents, the highest price increases were again recorded in the suburbs of the capital, namely in the areas of Efkarpia – 27.0%, Agios Pavlos – 22.6% and Eleftherio Kordelio – 17.3%.
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