The Greek real estate market continues its active development, and the latest report from the Spitogatos portal for the third quarter of 2023 brings unexpected results.
Price Dynamics in Housing
According to the study, the average cost of residential real estate in the country increased by 10.4% over the year. Impressive price growth was recorded in the suburbs of Piraeus, where property prices rose by 23.2%. Also, leaders in growth included Corfu with an increase of 21.5%, and Thessaloniki with a growth of 21.2%.
Significant price decreases were noted in the regions of Kastoria (-16.10%), Boeotia (-9.3%), and Carditsa (-5.6-9%).
Top 5 Expensive and Inexpensive Regions
The most expensive regions for purchasing housing in Greece are presented as follows:
- Athens (Southern Suburbs): €3.6 thousand per square meter.
- Cyclades: €3.3 thousand per square meter.
- Athens (Northern Suburbs): €2.9 thousand per square meter.
- Lefkada: €2.5 thousand per square meter.
- Kefalonia: €2.2 thousand per square meter.
While the least expensive regions are presented as follows:
- Kastoria: €588 per square meter.
- Kilkis: €630 per square meter.
- Florina: €643 per square meter.
- Kozani: €657 per square meter.
- Carditsa: €672 per square meter.
Rental Market
It is worth noting that the cost of rent has also undergone changes. The most significant price increase was recorded in the city of Pella in Central Macedonia, where rent increased by 36%. Meanwhile, the largest decline in rental rates was observed on the Cycladic Islands, with a decrease of 15%. Such fluctuations emphasize the dynamism and diversity of the Greek real estate market.