Real estate prices continue to remain high, which shows that buying a home for many seems like a distant dream due to high costs.
According to Eurostat data, in the second quarter of 2024, house prices increased by 1.3% in the Eurozone and by 2.9% in the EU compared to the same quarter of the previous year.
Among the Member States for which data are available, six showed an annual decrease in house prices in the second quarter of 2024 and twenty showed an annual increase. The biggest falls were recorded in Luxembourg (-8.3%), Finland (-4.8%) and France (-4.6%), while the biggest increases were recorded in Poland (+17.7%), the Bulgaria (+15.1%), Lithuania (+10.4%) and Croatia (+10.0%). It is noted that no data are available for Greece.
Compared to the previous quarter, prices decreased in two Member States, remained stable in one (Hungary) and increased in twenty-three Member States. Declines were recorded in France and Belgium (-0.2%) both, while the highest increases were recorded in Croatia (+4.3%), Portugal (+3.9%) and Spain (+3, 6%).
It is a fact that the return to positive growth rates, combined with the increase in tourism and the attraction of foreign investors to the country, has given a strong impetus to the market, contributing significantly to the increase in interest in real estate and driving prices along.
Property prices
According to the data of Spitogatos, the average asking prices for the sale of houses throughout Greece increased by 6.8% in the third quarter of 2024 compared to the corresponding period of 2023, while average asking rental prices increased by 7.6%.
The Southern Suburbs of Athens, the Cyclades, the Northern Suburbs of Athens, Lefkada and Piraeus are the 5 most expensive areas of the country to buy a home in the third quarter of 2024.
The most expensive areas of Attica to buy a home in the third quarter of 2024 include Vouliagmeni, Voula, Glyfada, Kolonaki-Lykavittos and the Papagou area, where prices reach the highest levels.
Regarding the housing market, the most economical areas are Agia Varvara, Perama, Acharnes, the Patision-Acharnon area and Patisia, offering opportunities for more affordable housing options.
At the level of annual change, areas of Piraeus and its Suburbs almost monopolize the ranking of the top areas with the largest increases in the average asking price of a residence in Attica for the 3rd quarter of 2024.
More specifically, these areas are: the center of Piraeus (port) (36.0%), the Tambouria-Agia Sophia area (33.8%), Drapetsona (31.6%), Anthousa (29.7 %) and Agios Ioannis Rentis (27.9%).
In the co-capital, the largest increases in the average asking price of a house for sale in the 3rd quarter of 2024 compared to the same period last year, were mainly noted in the Suburbs of Thessaloniki and are: the area of Menemeni (21.7%), the Echedoros (18.7%) and Thermaikos (18.1%).
September prices
According to indomio data in September 2024, the asking price for properties for sale was highest in the Aegean Islands region, at €3,241 per sq.m.
On the contrary, for properties for sale in the Thessaly region, only €1,257 per sq.m. is the asking price, the lowest in the entire Greece region.
In the same month, the asking price for rental properties was highest in the Nomos Attica region, at €11.97 per month per sq.m.
The lowest asking price, respectively, was recorded in the Sterea Ellada area, with only €6.30 per month per sq.m., the lowest price in the whole country.
Source: ot.gr
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