Real estate prices in Greece keep increasing

The rise in real estate asking prices in central, northern, and southern Athens in 2022 can be attributed to the return of foreign buyers, redevelopment projects, and anticipation of metro extensions. Another contributing factor is the desire of many Greeks to purchase property before interest rates become too high.

According to Spitogatos, a Greek property ads website, there has been a substantial increase in average asking prices in districts such as Mets and Kallimarmaro in central Athens, with the average price per square meter reaching €3,240, representing an increase of nearly 22% compared to 2021.

The most expensive areas in the center are Kolonaki and the historic center. Foreign buyers prefer properties in central Athens, particularly those near tourist attractions, to take advantage of short-term rentals or long-term leases. Furthermore, the number of digital nomads who rent a property for several months a year is steadily increasing.

At the national level, asking sales prices increased by an average of 7.2% year-on-year in 2022, with an 8% increase in the fourth quarter.