Property prices rising in Athens
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Loading... - Jackson Campbell
- 06 Jan 2022
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The latest data by the Bank of Greece revealed that the average price of an apartment in Greece rose by 7.9% between July and September, while those in Athens soared by 9.8%.
This was closely followed by the port city of Thessaloniki where prices grew by 8.7 % and 5.9% in other cities.
In addition, there has been rising demand for older properties over five years old compared to newer ones.
What is causing this rise in buying activity?
The Greek economy has seen a strong recovery in 2021, with the government forecasting an annual growth of around 7%.
This year’s economic growth has largely been driven by monetary support from the EU. Greece received €33 billion in funding under the NextGenerationEU programme to use towards making the country greener and more digitalised.
Some of the projects the government plan to implement with this money include:
· Financing the interconnection with the Cyclades Islands, increasing the potential for renewable energy sources
· Boosting the adoption of digital technologies, in particular by small and medium-sized enterprises, and supporting the purchases of digital services such as new technology cash registers
· Strengthening the labour market by increasing full-time employment
