Real estate prices keep inching higher

The return of foreign buyers, redevelopment projects and expectations due to metro extensions are seen as the main driving forces behind the rise in asking prices in 2022 for real estate in central, northern and southern Athens.

Another factor is the effort of many Greeks to get ahead of the curve in buying property before interest rates rise to a prohibitive level. 

According to the price index data of the Greek property ads website Spitogatos, a large increase has been observed in districts such as Mets and Kallimarmaro (Panathenaic Stadium) in central Athens, with the average asking price now reaching 3,240 euros per square meter, a rise of almost 22% compared to 2021. 

The upcoming redevelopment and extension of metro lines in the surrounding areas have contributed to an even greater increase in average asking prices. 

Indicatively, compared to 2021,...