Apartment prices in Greece up 13.4% in 2023

Apartment prices in Greece rose by 13.4% in 2023, compared to an 11.9% rise in 2022, according to data by Bank of Greece published on Tuesday.

Specifically, price inflation on the fourth quarter of 2023, compared to the same for 2022, rose by 11% for apartments less than five years old, and 12.4% for those over five years old.

In 2023, the average price inflation rate for old apartments was 12.4%, as opposed to the 12.5% equivalent for 2022, while the price inflation rate for old apartments was 14.2% in 2023 and 11.6% in 2022.

In terms of location, the fourth quarter of 2023 saw that, compared to 22, apartment prices rose by 10.8% in Athens, 14.6% in Thessaloniki, 13.9% in other large cities, and 11.2% in the rest of the country — compared to 2022, this means that for the same quarter, prices rose by 13.7%, 16.2%, 14.5%, and 10.8% respectively.

The country’s urban areas saw apartment prices rise by an average of 12.1% in the fourth quarter of 2023 compared to the fourth quarter of 2022.

The average yearly price inflation for 2023 overall was be at 13.9%