It continued, at an even accelerating pace, the “rally” in property prices in 2023.

According to data from the Bank of Greece, in 2023, apartment prices increased with an average annual rate of 13.4%, against an increase of 11.9% in 2022.

Specifically, the price increase in the fourth quarter of 2023 compared to the corresponding quarter of 2022 was 11.0% for new apartments, i.e. up to 5 years old, and 12.4% for old ones, i.e. older than of 5 years. For 2023, the average annual price growth rate for new apartments was 12.4%, compared to 12.5% ​​growth in 2022, while the average annual growth rate for old apartments was 14.2% in 2023, compared to 11.6% increase in 2022.

From the analysis of the data by geographical region, it follows that the increase in apartment prices in the fourth quarter of 2023 compared to the corresponding quarter of 2022 was 10.8% in Athens, 14.6% in Thessaloniki, 13.9% in other large cities and 11.2% in the rest of the country. For the whole of 2023, the price increase in the same regions compared to 2022 was 13.7%, 16.2%, 14.5% and 10.8% respectively.

Finally, for all urban areas of the country, in the fourth quarter of 2023, apartment prices were on average higher by 12.1% compared to the fourth quarter of 2022, while for 2023 the average annual increase was 13.9%.