House prices keep climbing
Sale and rental rates continue their advance across Athens and the rest of the country
The strong upward trend of sale and rental prices for houses continued in the second quarter of the year, data from the Spitogatos Property Index (SPI) has shown.
The largest annual increase in sales prices in Attica was recorded in the suburb of Egaleo (20.3%), followed by Kallithea, where the annual rise reached 19%. Accordingly, an increase of 16.3% was recorded in the average asking price in Moschato, while in Palaio Faliro and Alimos the hike reached 14.7% and 15.8% respectively. Large increases were also recorded at Pangrati (15.9%), Sepolia (15.4%), Rafina (17.2%) and Agia Paraskevi (14.9%).
The most expensive areas for buying a house are mainly municipalities in the southern suburbs such as Vouliagmeni (5,600 euros per square meter), Voula (€4,125/sq.m.), Alimos (€3,868/sq.m.), Glyfada (€3,846/sq.m.) and Elliniko (€3,571/sq.m.). In the downtown area, Kolonaki and Lykavittos saw an average asking price of €4,000/sq.m., while in the historic center the average price has reached €3,582/sq.m. and in Elliniko prices currently average at €3,571/sq.m.
The cheapest areas for buying a house in the capital are Ano Liosia (€1,000/sq.m), Agia Varvara, Tambouria and Agia Sofia in Piraeus, as well as areas on the outskirts like Oropos and Skala Oropou (€1,028-1,042/sq.m.).
On a nationwide level, the district of Piraeus recorded the highest average increase in sales prices with 11.9%, followed by the municipality of Thessaloniki (11.7%), the prefecture of Larissa (11.3%), the southern suburbs of Attica (10.9%) and Halkidiki (10.8%).
In terms of residential rentals in the second quarter, compared to Q2 of 2021, a greater increase is observed in southern suburbs such as Vari-Varkiza (15.6%), Vouliagmeni (14.8%) and the center and port of Piraeus (14.7%). Furthermore, Kifissia 17.9% and Nea Erythrea 12.5% in the north and Pangrati (14.1%) in the capital’s center also recorded a notable increase.
The most expensive residential rental area remains Vouliagmeni at €14.9/sq.m. on a monthly basis, followed by Kolonaki and Lykavittos with €14.6/sq.m., and Psychiko with €14/sq.m.
