Properties: New Rise 6.8% in prices in the first quarter of 2025 – What city is the champion
More increase is recorded in 2025 in prices sold and rented real estatefollowing the growth course of the last 7 years.
The housing problem in Greece is becoming increasingly pressing for many citizens, who are forced to rent a property.
The explosion of short -term leases (Airbnb) has significantly reduced the availability of real estate for rent, while prices are constantly rising, even for old real estate. At the same time, even programs such as « My Home 2 » contribute to the rise of prices, without resolving the overall issue, which is that the offer is small.
According to official data from the Bank of Greece, in the first quarter of 2025, the annual rate of change in apartments for the whole country stood at 6.8%.
Based on the age of property, the annual rate of change in new apartments stood at 8% and the old ones to 6%.
Based on the geographical location, the annual rate of change in apartment prices stood at 5.5% in Athens, 10% in Thessaloniki, 7.3% in other major cities and 8% in other areas of the country.
What do real estate figures show
Based on the provisional data, it is estimated that in the first quarter of 2025 apartments (in nominal terms) were on average 6.8% compared to the corresponding quarter of 2024. For 2024 apartments increased at an average annual rate of 8.9% (20%).
More specifically, the increase in prices in the first quarter of 2025 compared to the corresponding quarter of 2024 was 8.0% for the new apartments, ie up to 5 years old, and 6.0% for the old, ie over 5 years old. Based on the revised data, for 2024 the average annual price rise in new apartments was 10.2%, compared to 12.9% in 2023, while the average annual growth rate for the old apartments was 8.1% in 2024, compared to 14.5% in 2023.
An analysis of the geographical area shows that the increase in apartments in the first quarter of 2025, compared to the corresponding quarter of 2024, was 5.5% in Athens, 10.0% in Thessaloniki, 7.3% in other major cities and 8.0% in other areas of the country. For the whole of 2024, the increase in prices in the same areas compared to 2023 was 8.4%, 11.4%, 7.4% and 10.7% respectively (revised data).
Finally, for all urban areas of the country, in the first quarter of 2025 apartments were on average by 6.2% compared to the first quarter of 2024, while for 2024 the average annual increase stood at 8.6% (revised data).
Source: OT
