At the center of the market real estate Offer and demand are located, as they are the key factors to set sales prices and rental prices.

The rental market faces a double problem: low supply and increased demand. Specifically, demand is five times higher than supply, which exacerbates the market crisis. In addition, the available property stock is characterized by low quality, as prices often do not respond to the actual property of the real estate. As a result, the properties remain for longer on ads platforms. The owners, seeing high demand, do not partially or total upgrading their property, preferring to wait months for a tenant who will accept their original price, even if that means they will lose some rents. And tenants are patient, waiting to find a property that meets their needs and are closer to the characteristics of their demand.

In particular, according to Prosperty data, the total property available for rent today is approaching 25,000 (24,972), with an average stay in ads about 120 days (4 months). The average price per square meter is 7 euros to 23 euros. Regarding the distribution of age 24,972 available property for rent, 26.32% are from 1974 to 1984. Prior to 1973 it is 6,922 properties (20.33%), from 1985-1994 is 3,323 properties (14.70% ), from 1995-2004 is 3,319 real estate (17.35%), from 2005-2014 is 3,271 properties (13.99%) and from 2015-2025 is 1,814 properties (7.31%).

The most expensive areas for rent in Greece vary depending on the decade of real estate construction. At the top of the list are the southern suburbs of Athens with construction real estate from 2015 to 2025, where the rent price reaches 23 euros/sqm. It follows the center of Athens for the same period, with 19 euros/sqm, and then the southern suburbs with real estate from 2005 to 2014, where the cost is 18 euros/sqm. In the same area, real estate of the 1995-2004 and 1985-1994 records prices of 17 and 16 euros/sqm. respectively. Thessaloniki appears on the list of real estate from 2015-2025, where the average rent price is 16 euros/sqm, while the northern suburbs of Athens for the same period have a rent of 15 euros/sqm. The same amount applies to real estate in the southern suburbs dating from 1965-1975, as well as to Piraeus in the newest properties of 2015-2025. Finally, the downtown Athens with 1963-1973 real estate has an average rental price of 14 euros/sqm.

As for the total availability of real estate for rent and the average rent per square meter, the southern suburbs have 6,922 properties with prices ranging from 15 to 23 euros/sqm, while in downtown Athens there are 3,704 properties available with prices from 12 to 19 euros/sqm. In the northern suburbs, availability is 3,323 properties and the rental price is between 12 and 15 euros/sqm. In Thessaloniki there are 3,319 properties with prices from 10 to 16 euros/sqm, while in Achaia 3,271 properties are recorded with an average rental price of 8-11 euros/sqm. In the suburbs of Thessaloniki there are 1,814 properties with prices from 7 to 11 euros/sqm, while 906 properties are available in Piraeus at a cost of 12-15 euros/sqm. In Heraklion, Crete, there are 728 properties with prices from 7 to 12 euros/sqm, in the eastern suburbs of Athens 522 real estate with a rent of 9-12 euros/sqm, while 463 properties are found in the western suburbs with prices from 8 up to 11 euros/sqm. Overall, it is observed that the southern suburbs and downtown Athens record the highest rental prices, while areas such as Achaia, the suburbs of Thessaloniki and Heraklion offer more affordable choices.

Selling Property: High Offer, Challenges in Demand

In the sale of real estate, the data shows that there are a total of 176,634 available real estate for sale in the most basic areas of Greece. Although the offer is high, two key factors as Prosperty estimates, affect demand:

1) Difficulty accessing mortgages: In recent years, bank funding for real estate remains limited. Now, through programs such as “My Home 2”, which aims to facilitate access to affordable mortgages, thousands of buyers have already managed to secure the necessary financial support for residence.

2) unrealistic – incorrect real estate pricing by owners: Many owners determine their property prices based on the ads they see on the platforms, drifting away from the requested prices of similar properties. Often, they add an extra amount, considering that this is the true value of their property. However, the final closure price-especially for older real estate-is usually 10-25% lower than the initial demanded prices in ads. As a result, the properties remain for long periods of time on the platforms, making it difficult to rent the process.

3) Required prices often do not reflect the actual state of the real estate, further slowing the sale process. Especially older real estate requires significant renovations to be attractive to buyers, which is not taken into account in their pricing. The overestimation of their value leads to reduced interest and prolonged stays on the ads platforms.

The majority of real estate are concentrated in areas of Attica, with the southern suburbs leading the market. (21.3% of the total volume) followed by the center of Athens, which made up 17.4% of the total market.

In particular, according to the available data, the total number of real estate available for sale in the main areas of Greece is 176,634. Specifically, in Athens – southern suburbs there are 37,579 properties, in the center of Athens 30,732, in the rest of Greece 21,759, in Thessaloniki 20,046, in the northern suburbs of Athens 19,481, in the suburbs of Thessaloniki 14,765, in the western suburbs of Athens 11,704, 7,04, 7,04 In the eastern suburbs of Athens 5.156, in Patras 4,419, in Chania, Crete, 1,558, in Heraklion, Crete 1,435, in Rethymnon, Crete 539 and in the rest of the county

Most properties for sale belong to the category of new ones (2020 onwards), accounting for 24.3% of the total, with 42,935 real estate available. Following are the 1970-1979 properties, which amount to 39,730 and account for 22.5% of the total. The real estate of the 1960s-1969 represent 14.7% with 26,013 properties, while those of the 2000-2009 cover 15.4% with 27.171 properties. Homes built in the 1980s-1989 reaches 20,882, accounting for 11.8% of the total, while the 1990s-1999 properties are 13,534, covering 7.7%. Finally, the real estate for the 2010-2019 period are the least, just 6,369, accounting for 3.6% of the total.

Regarding the distribution of real estate for sale per floor, most properties are on the ground floor, with 42,343 properties representing 23.9% of the total. The first floor follows with 40,092 properties, which accounts for 22.7%, while the second floor has 29,699 properties, ie 16.8% of the total. The third floor has 23,434 properties (13.2%), the fourth 16,775 (9.5%), the fifth of 11,435 (6.6%) and the sixth 8,350 (4.7%). The semi -state category records 4,348 properties, accounting for 2.4% of the total stock.

The 5 most expensive areas for the purchase of property in Attica, based on the average price per square meter, are the southern suburbs of Athens, where newly built houses (2020 onwards) reach 5,168 euros/sqm, while properties of the period 2010-2019 cost an average of EUR 5,028/sqm. In the northern suburbs, houses built between 1960-1970 have an average price of 4,309 euros/sqm. In downtown Athens, newly built constructions (2020+) reach 4,254 euros/sqm, while in Piraeus the newest properties (2020+) are available for 4,065 euros/sqm. average.

On the contrary, the 5 most economical areas for the purchase of property are located in Thessaloniki and Crete. In the suburbs of Thessaloniki, residences built between 1970-1979 have the lowest average price, just 547 euros/sqm. In the rest of Thessaloniki, the houses of 1960-1970 are available for 808 euros/sqm, while the 1970-1979 properties reach 890 euros/sqm. In Crete, the prefecture of Heraklion has an average price of 901 euros/sqm. For real estate from 1960-1970, while in the prefecture of Chania the price for real estate of the same period is 962 euros/sqm.

Antonis Markopoulos, founder & CEO of Prosperty, points out: “With the data we collect and analyze, we understand that the real estate market today faces challenges not only because of lack of supply, but because of irregular invoicing and slow adjustment to real market conditions. Prosperty aspires to bridge this gap by offering solutions that will allow for a more transparent and healthy environment for the purchase of real estate. “