Property prices in Greece continue to rise in the first quarter of 2024. Rents also registered an increase.
According to data from online classifieds site Spitogatos.gr, in the January-March period the average selling price of homes in Attica was 2,350 euros per square meter, compared to 2,070 euros/sq.m. in the same period last year, an increase of 13.5%, reports Ekathimerini.
In terms of rents, the average asking rental price has already reached €9.6/sq.m, which is 11.6% higher than a year ago, with no signs of even stabilizing.
Among the individual regions, the biggest increase in offer sale prices is still recorded in Piraeus: on a yearly basis the increase has already reached 27.3% to 2,333 euros/sq.m., while in the suburbs of Piraeus the average offer price is now 1,875 euros/sq.m. .m., an increase of 25% on an annual basis.
“These increases are due to the redirection of Golden Visa investors to the Piraeus area, where the minimum investment amount remains at 250,000 euros against the 500,000 euros required from August 1, 2023 in the center of Athens and the northern and southern suburbs. However, a large growth of 14.6% is also observed in the offer prices in the center of Athens, where the average price now reaches 2,073 euros/sq.m from 1,810 euros/sq.m.
The following months are expected to be decisive for the future course of prices and the possibilities of their stabilization or even correction in some areas, given that new changes to the Golden Visa program are being promoted, with a minimum investment limit for the whole of Attica rising to 800 000 euros.
In the rental market, the picture looks particularly difficult for those looking for a home, as even in the center of Athens the average asking price has already risen to €10.36/sq.m, or 10.4% more compared to the first quarter of last year”, the Greek edition also states.
