Fire: prices for selling and renting real estate | in.gr

In recent years, property prices in Greece have reached record levels for both buying and renting. The increase in construction material costs, low supply of properties, and the growing popularity of platforms like Airbnb in major cities and tourist locations have all played a significant role in this trend. The emergence of foreign investors has also contributed to a substantial rise in prices, making the possibility of purchasing housing unaffordable for many Greeks.

According to the latest research by Remax, international interest in buying homes in Greece increased in the first quarter of 2024 by11.8%compared to the same period last year. Based on the transactions recorded in the previous year, the average price increase per square meter was12%Regardless of the year the properties were built, Greece's popularity as a tourist destination makes acquiring real estate particularly attractive for both personal and investment use. This creates additional pressure on the market and continues to drive up prices.

The changing interests of buyers also reflect changes in demand: while previously the focus was on real estate in well-known resort areas and major cities like Athens and Thessaloniki, there is now growing interest in lesser-known regions that previously had little demand. This is leading to a noticeable increase in prices in various corners of the country.

For example, according to statistics, in the first quarter of 2024, price changes are observed in the following regions:

• Laconia:9.2%increase in residential real estate prices
• Pieria:8%increase
• Phocis:18.5%increase
• Lefkada:25.6%increase
• Preveza:10.8%increase
• Messinia:10.1%increase
• Chios:21.3%increase
• Evritania:25.6%increase

In other regions, far from major cities, there is also an increase in rental rates. For example:

• Serrys:24.6%increase
• Xanti:20%increase
• Larisa:11.4%increase
• Evbeia:10.1%increase
• Arcadia:10.5%increase
• Ahaiya:13.4%increase

According to the company Spitogatos, the average asking prices for rental housing have increased by8%in the first quarter of 2024 compared to the same period in 2023.

As for rural real estate, such properties are also becoming increasingly scarce and expensive.

There were also seasonal rentals, which makes the situation even more complicated. In Rafina, prices for the summer months reach from3500to4000 eurosin Halkidiki - from4000to7000 eurosAdditionally, in Mykonos, the rental of most residential properties, with an area of68 square meters, varies from18,000 eurosfrom April to October, and in Paros, the prices for properties with an area of155 m²rise to4400 eurosfor the month of July and August.

According to data from the Spitogatos platform, foreign interest in purchasing real estate in Greece has also increased.11.8%In the first quarter of 2024 compared to the same period last year, the countries showing the most interest in purchasing real estate include Germany, the USA, the UK, Australia, and Bulgaria. The most sought-after areas for foreign investment include the centers of Athens, Halkidiki, the southern suburbs of Athens, as well as the surroundings of Thessaloniki and the Cyclades. The most popular categories of real estate remain apartments, houses, and villas.