Apartment rates keep soaring

Apartment prices in Greece grew by 12.2% in the fourth quarter of 2022 and at an average annual rate of 11.1% in 2022, the Bank of Greece said in a report on Wednesday.

Broken down by age of property, the annual rate of change in prices of new apartments was 12.1% and 12.2% for old apartments.

In the fourth quarter of 2022 the year-on-year rate of increase in prices was 12.1% for new apartments (up to 5 years old) and 12.2% for old apartments (over 5 years old). 

For 2022, prices of new apartments increased on average by 11.8%, against an increase of 8.2% in 2021, whereas prices of old apartments increased by 10.5% in 2022, against an increase of 7.2% in 2021.

Broken down by region, in October-December 2022 apartment prices increased 15.2% year-on-year in Athens, 14.5% in Thessaloniki, 10.3% in other cities and 6.3% in other areas of Greece. 

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