Suburb

The areas of the country where home sales prices have now exceeded - indeed far exceeded - the previous all-time high of the market, recorded during 2008, are increasing on a steady basis.

The prices of newly built houses in the high-demand districts of Athens have now risen above the all-time record set in 2008.

In the southern suburbs the prices of new constructions are 30% higher compared to 2008, while in the center of Athens and in the northern suburbs the increase amounts to 20% over 2008 prices.

The prices of second-hand homes have been rising at a faster pace than those of newly built properties over the last six months.

The spread between the taxable rates of properties, known as "objective values," and market prices is widening again, just two years after the last adjustment of the former, which started applying from January 2022.

This development is recorded mainly in the expensive areas of the center of Athens and the southern and northern suburbs of the capital.

The pool of homes that qualify for the government's My Home ("Spiti Mou") program is smaller than in the recent past. This is the program that, in cooperation with the banks, subsidizes mortgage rates to help young people (up to the age of 39) enter the housing market. It concerns properties worth up to 200,000 euros, at least 15 years old (built before 2007) and up to 150 square meters

The asking prices for a large portion of apartments in the center of Athens are now set at rates similar to those of the northern suburbs, or even higher.

New trends in demand from abroad to buy real estate are being seen for the summer of 2021, according to SDI demand index, which is formed by the volume of searches on the real estate classifieds of Spitogatos website .

The CEO of Lamda Development, Odysseas Athanassiou, spoke about the emblematic project of the redevelopment of Elliniko, revealing the sale prices of houses.

The highest average leasing price per square meter is recorded in the northern suburbs of Athens

The property market expects building permits to soar in the coming months.