House Price Hikes Across Greece
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Loading... - Jarvis Watson
- 12 Feb 2025
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Greece is experiencing significant increases in house prices, particularly outside of the Attica region. While the average annual increase in Attica for 2024 is projected to be around 5.7%, other areas are seeing much steeper hikes. For instance, regions like Eastern Macedonia and Thrace and Western Greece have recorded price increases of 11.6% and 10.2%, respectively. These regions still offer relatively affordable home acquisition costs, making them attractive for potential buyers looking for future capital gains.
According to an analysis by the real estate agency network eXp Realty Greece, based on data from Spitogatos.gr, the average asking price in Eastern Macedonia and Thrace was €1,242 per square meter in the fourth quarter of 2024, compared to €2,450 per square meter in Attica. In Western Greece, the average price reached €1,330 per square meter, while the Peloponnese saw a notable increase of 9.4%, bringing the average asking price to €1,460 per square meter.
The disparities in housing prices across different regions are striking. For example, in Western Macedonia, which is the cheapest region, the average selling price of a house, despite a 5.3% increase, remains at just €660 per square meter—four times cheaper than in Attica. The North Aegean region follows as the second cheapest, with an average price of €1,140 per square meter, reflecting a 4.7% increase.
Conversely, Central Greece has seen a decline in asking prices, which fell by 2.5% to €1,207 per square meter by the end of 2024, down from €1,240 at the beginning of the year.
Interestingly, the most expensive region in Greece is not Attica but the South Aegean, where the average asking sale price reached €2,790 per square meter at the end of 2024, marking a 4.2% increase from the previous year. This surge is indicative of the rising prices of luxury holiday homes in the area.
The current trends in Greece's real estate market highlight significant regional disparities in house prices, with some areas experiencing substantial increases while others see stagnation or decline. As buyers seek affordable options with potential for capital gains, regions outside of Attica are becoming increasingly attractive, while luxury properties in the South Aegean continue to command high prices.
