An increase of 9.2% was recorded on average in the nominal prices of apartments in the second quarter of 2024 compared to the corresponding quarter of 2023, according to temporarily available data from the Bank of Greece. The CoE revised the figures for the year 2023.
Apartment prices rose at an average annual rate of 13.8% versus 11.9% in 2022.
In more detail, the price increase in the second quarter of 2024 compared to the corresponding quarter of 2023 was 10.7% for new apartments, i.e. up to 5 years old, and 8.3% for old ones, i.e. aged over 5 years old.
Based on the revised data, for 2023 the average annual rate of increase in prices for new apartments was 12.8%, compared to a growth rate of 12.5% in 2022, while the average annual rate of increase for old apartments was 14, 5% in 2023, versus a growth rate of 11.6% in 2022.
The geographical analysis
From the analysis of the data by geographical region, it appears that the increase in apartment prices in the second quarter of 2024 compared to the corresponding quarter of 2023 was 9.1% in Athens, 12.1% in Thessaloniki, 7.3% in other large cities and 10.4% in the other regions of the country. For the whole of 2023, the price increase in the same regions compared to 2022 was 13.8%, 16.5%, 14.9% and 11.6% respectively (revised figures). Finally, for all the urban areas of the country, in the second quarter of 2024 apartment prices were on average increased by 9.0% compared to the second quarter of 2023, while for 2023 the average annual increase was to 14.2% (revised figures).
SOURCE: ot.gr
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