The prices of real estate and according to third quarter of 2024with those of the youngest (up to 5 years old) reaching +10%.

In particular, as informed by Bank of Greece:

– In the third quarter of 2024, the annual rate of change in apartment prices for the entire country was 7.8%.

– Based on the age of the property, the annual rate of change in prices for new apartments was 9.7% and for old apartments at 6.6%.

– Based on geographic location, the annual rate of change in apartment prices was 7.7% in Athens, 12.1% in Thessaloniki, 4.9% in the other major cities and 9.5% in the rest of the country.

In more detail, based on the provisional data available from the Central Bank, it is estimated that in the third quarter of 2024 apartment prices (in nominal terms) were on average increased by 7.8% compared to the corresponding quarter of 2023. For the 2023, apartment prices increased at an average annual rate of 13.8% (revised figures), compared to an increase of 11.9% in 2022.

Regarding the price increase in the 3rd quarter of 2024 compared to the corresponding quarter of 2023, it was 9.7% for new apartments, i.e. aged up to 5 years, and 6.6% for the old ones, i.e. aged over 5 years. Based on the revised data, for 2023 the average annual rate of increase in prices for new apartments was 12.9%, compared to a growth rate of 12.5% ​​in 2022, while the average annual rate of increase for old apartments was 14, 5% in 2023, versus a growth rate of 11.6% in 2022.

From the analysis of the data by geographical region, it appears that the increase in apartment prices in the third quarter of 2024 compared to the corresponding quarter of 2023 was 7.7% in Athens, 12.1% in Thessaloniki, 4.9% in other large cities and 9.5% in the rest of the country. For the whole of 2023, the price increase in the same regions compared to 2022 was 13.9%, 16.5%, 15.0% and 11.6% respectively (revised figures). Finally, for all the urban areas of the country, in the 3rd quarter of 2024 apartment prices were on average increased by 7.3% compared to the 3rd quarter of 2023, while for 2023 the average annual increase was to 14.2% (revised figures).