** "Increase in real estate prices and rents in Greece in2022."

Real estate and rental prices in Greece continue to rise steadily, increasing by 8% and 5% respectively in the last quarter of 2022 compared to 2021, according to real estate experts from Spitogatos.

Average property sale prices in Greece increased by 7.2% in 2022 compared to 2021, while rental prices rose by 6.7%, according to the SPI Spitogatos price index.

In 2022, the highest increase in real estate and rental prices was observed in the northern and southern suburbs of Athens, as well as in the center of Athens and the suburbs of Piraeus.

The greatest interest from investors and buyers is observed in the southern suburbs of Athens, located along the Athens Riviera, where the average price per square meter for an apartment in Vouliagmeni is €5,933, which is 19% higher than in 2021.

For example, last summer, the CEO of Lamda Development, Odysseas Afanasiou, announced that 9,000 residential units would be built in Hellinikon along the Athens Riviera, with prices reaching up to 25,000 euros per square meter, making it the largest private investment project in Greece.

In Athens, thanks to urban improvement programs, as well as the emergence of new hotels and metro stations, property prices have increased by 22% in the Mets area, 21% in Ilisia, and 20% in Goudi, while in Piraeus and its surroundings, prices have risen by 10% compared to 2021. The same applies to prices in Thessaloniki, Preveza, Halkidiki, Trikala, Larissa, Chania (Crete), Corinth, the Cyclades archipelago, and the Sporades.

As for rentals, 2022 saw the highest growth in Attica.

According to analysts at Spitogatos, some popular areas of Attica have seen an even greater increase in rental prices, indicating strong interest from investors.

At the same time, the "friendly" visa program for investors in Greece and the strong interest from foreigners in purchasing vacation homes in Greece, along with the explosive activity in short-term rentals like Airbnb, have led to a severe housing problem. "Real estate represents an investment option with more stable income in the context of rising inflation and fully justifies the steady increase in property prices that we observed in 2022," said Dimitris Melachrinos, CEO of Spitogatos.

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