According to data published today, Thursday, 20 March, by the Bank of Greece on the rate of increase in housing prices, apartment prices have risen at an average annual rate of 8.7%. A notable rise was seen in the fourth quarter of 2024, with prices in Athens up by 6.2% and in Thessaloniki by 8.2%. The slower growth rate compared to 2023 refers only to the pace of increase, while actual prices continue to rise.

Specifically, according to the Bank of Greece’s data:

  • Ιn the fourth quarter of 2024, the annual rate of change in apartment prices for the entire country stood at 6.6%.
  • Broken down by age of property, the annual rate of change in prices was 9.1% for new apartments and 4.9% for old apartments.
  • Broken down by region, the annual rate of change in prices of apartments was 6.2% in Athens, 8.2% in Thessaloniki, 4.6% in other cities and 8.7% in other areas of Greece.

According to provisional data, apartment prices (in nominal terms) are estimated to have increased on average by 6.6% year-on-year in the fourth quarter of 2024. In 2024, apartment prices increased at an average annual rate of 8.7%, compared with an average increase of 13.9% in 2023.

More specifically, in the fourth quarter of 2024 the year-on-year rate of increase in prices was 9.1% for new apartments (up to 5 years old) and 4.9% for old apartments (over 5 years old). For 2024, prices of new apartments increased on average by 10.1%, against an increase of 12.9% in 2023, whereas prices of old apartments increased by 7.8% in 2024, against an increase of 14.5% in 2023.

Broken down by region, in the fourth quarter of 2024 apartment prices increased year-on-year by 6.2% in Athens, 8.2% in Thessaloniki, 4.6% in other cities and 8.7% in other areas of Greece. For 2024 as a whole, prices increased on average by 8.2%, 11.2%, 7.1% and 10.6% respectively in the above-mentioned areas. Finally, as regards all urban areas of the country, in the fourth quarter of 2024 apartment prices are estimated to have increased on average by 5.9% year-on-year, while for 2024 they increased at an average annual rate of 8.4%.

Detailed index data:

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