Disparity between asking price and reality

The countdown has started for the implementation of the project to renovate the Alimos Marina in southern Athens. Works for the upgrading of the biggest marina in Greece are expected to begin in early 2024, that is five years after the completion of the concession tender. In the meantime, demand for mooring berths keeps expanding, while the problems with the obsolete infrastructure are growing according to sources in the maritime tourism industry. The signing of the joint ministerial decision and the issue of the construction permits are still pending, per Aktor, the contractor for the marina's 40-year concession. 

There are significant disparities between the expectations of sellers and reality when it comes to property transactions in Attica, according to data regarding sales in 2023 compiled by the RE/MAX Hellas network of real estate offices and the Spitogatos Price Index (SPI) of the online classifieds network Spitogatos.gr.

The discrepancy indicates an inflation of prices that could lead to a correction, especially if buying interest from abroad begins to wane.

The largest disparity is found in the southern suburbs, where asking prices appear to be 25% higher on average, compared to actual sale prices, at least with those made through the RE/MAX network.

More specifically, the asking price in classified ads was 3,664 euros/sq.m., while the transactions carried out were at 2,755 euros/sq.m. on average. 

Real estate sources say it was already evident from 2022...

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