Property prices and rents are on the rise in Q3 2024 on the one hand due to strong demand for student housing and on the other hand due to the traditional strong summer season boosting residential demand.

According to Spitogatos data, average asking prices for residential sales across Greece increased by 6.8% in the third quarter of 2024 compared to the corresponding period in 2023, while average asking rental prices increased by 7. 6%.

The Most Expensive and Cheapest Properties to Buy – What About Rents?

The Southern Suburbs of Athens and the Cyclades have the highest home purchase prices, the lowest in Kastoria and Florina.

The Southern Suburbs of Athens, the Cyclades, the Northern Suburbs of Athens, Lefkada and Piraeus are the 5 most expensive areas of the country to buy a home in the third quarter of 2024.

In the ranking of the most expensive areas for renting a house, the first places are occupied by the Southern Suburbs of Athens, the Cyclades, the Northern Suburbs of Athens, the center of Athens, followed by Piraeus.

It is worth noting that among the most expensive areas for residential rental in the 3rd quarter of 2024 is Halkidiki, where short-term rental prices continue to exert upward pressure on rental prices.

On the contrary, the most affordable areas for buying a home in the country are located in Northern mainland Greece, with Kastoria, Florina Region, Karditsa, Kozani and Drama standing out.

In terms of renting, the cheapest areas include Kilkis, Pella, the rest of the Prefecture of Thessaloniki, Imathia and Fokida.

The largest increase in the average asking price of houses for sale in the third quarter of 2024 compared to the corresponding period in 2023 was recorded in the Piraeus region (27.8%).

As far as residential rental is concerned, the rest of the Prefecture of Thessaloniki is ranked at the top of the regions with the largest increases in the average asking price of residential rental throughout the country with a percentage increase of around 20%.

The most expensive and the most economical areas

The most expensive areas of Attica to buy a home in the third quarter of 2024 include Vouliagmeni, Voula, Glyfada, Kolonaki-Lykavittos and the Papagou area, where prices reach the highest levels.

In terms of residential rental, the areas of Attica with the highest average asking prices in the 3rd quarter of 2024 are again Vouliagmeni, Kolonaki-Lykavittos, Glyfada, Paleo Psychiko and Voula. On the contrary, the most affordable options for renting a residence are found mainly in the Western Suburbs, the Suburbs of Piraeus and the center of Athens.

Regarding the housing market, the most economical areas are Agia Varvara, Perama, Acharnes, the Patision-Acharnon area and Patisia, offering opportunities for more affordable housing options.

Properties in Attica and Thessaloniki

At the level of annual change, areas of Piraeus and its Suburbs almost monopolize the ranking of the top areas with the largest increases in the average asking price of a residence in Attica for the 3rd quarter of 2024.

More specifically, these areas are: the center of Piraeus (port) (36.0%), the Tambouria-Agia Sophia area (33.8%), Drapetsona (31.6%), Anthousa (29.7 %) and Agios Ioannis Rentis (27.9%).

As far as rent is concerned, the largest increases in the average asking price of rent in the 3rd quarter of 2024 compared to the corresponding period in 2023, were noted in Neo Faliro (31.4%), Agios Stefanos (24.9%), in the Piraiki area- Hatzikyriakeio (23.3%), Vari-Varkiza (23.0%) and Marathon (22.2%).

In the co-capital, the largest increases in the average asking price of a house for sale in the 3rd quarter of 2024 compared to the same period last year, were mainly noted in the Suburbs of Thessaloniki and are: the area of ​​Menemeni (21.7%), the Echedoros (18.7%) and Thermaikos (18.1%).

As far as rent is concerned, the biggest price increases are again recorded in the Suburbs of the co-capital and are the Efkarpia area (27.0%), Agios Pavlos (22.6%) and the Eleftherio-Kordelio area (17.3 %).

Source: ot.gr