Greek Real Estate Market in bloom: ascending rent and purchase prices!
Real Estate | December 2021
Greek Real Estate Market in bloom: ascending rent and purchase prices!

Greek properties are demonstrating a steadily ascending course based on statistical records from the third trimester of 2021, regarding both property and rental prices.

The sale prices in Athens and Thessaloniki seem rather increased compared to last year, with average increase percentages of 8,7% and 5,9% correspondently. The buying interest is centered around new properties, viz. properties constructed within the last 5 years, in comparison to older constructions. From a geographical perspective, the most popular areas of Athens, such as Ampelokipoi, Palaio Faliro, Marousi and Peristeri are displaying the most impressive boosts. 

The rental property prices seem to be following the same uphill route, with monthly rents increased at 9,2% in Thessaloniki and 6,2% in Athens. The average monthly rent for an apartment in Athens center constructed 20-25 years ago amounts to approximately 450 euro, while the same apartment in North and South Suburbs costs almost double the amount, viz. 700-800 euro per month.

The Greek real estate market has evolved to one of the most prosperous investments for both Greek and foreign investors. The popular Greek golden visa program has led hundreds of third country citizens to purchase a property valued at 250,000 euro in order to exploit it – through rental agreements or short time leases – or to simply use it for permanent or holiday residence in Greece. 

 

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