Property Website: Athens-Area Residences Sold Within 6 Months, on Average

Real estate prices, especially for residences, continue to rise in various parts of Greece, according to the latest data presented by a well-known local property sales and lease platform.

According to analysts over the past year or more, prices for real estate in Greece continue to rise due to a recent energy crisis, high inflation (by EU standards) and a surge in prices for building materials.

At the same time, professionals in the market who spoke to Ot.gr said the relisting of thousands of apartments, currently unexploited and closed, and their return to the housing market will ameliorate a serious shortage now plaguing major urban areas.

Based on figures released by the Spitogatos website – as derived from the listings on its platform – residences listed for sale in the greater Athens area in the first nine months of 2024 usually sold within six months, on average. Listed residences in Thessaloniki were sold at a slightly faster rate than the greater Athens area.

Based solely on the website’s figures, the average price asked for properties in Attica prefecture – which includes the entire Athens-Piraeus agglomeration – also went up from quarter to quarter in 2024, recorded at 3,095 euros per square meter in the first quarter and rising to 3,209 per square meter by the third quarter. Those figures are based on what sellers ask for in their listings, and not the actual amount that changes hands.

The same figures for Thessaloniki were 2,146 euros per square meter in the first quarter, on average, and reaching 2,257 euros by the third quarter; 3,255 euros for the Aegean islands in the first quarter, rising to 3,348 euros per square meter in the third quarter.

Conversely, residences listed for the Ionian Islands were sold, on average, within 7.8 months, over the first three quarters of the year.