Bank of Greece: Residential Property Prices Continue to Rise

The Bank of Greece has released its latest report on the dynamics of residential property prices for the third quarter of 2024.

The annual rate of price change for apartments nationwide reached 7.8%.

Prices for new apartments increased by 9.7%, while older properties saw a rise of 6.6%.

Regional price growth varies:

• 7.7% in Athens;
• 12.1% in Thessaloniki;
• 4.9–9.5% in other cities and regions across Greece.

This compares to a growth rate of 13.8% in Q3 last year and 9.4%—10.6% in the first half of 2024.

Despite a slowdown in price growth, Greece remains an attractive choice for real estate investment, supported by the Golden Visa programme, increasing tourism, urban infrastructure renovations, and a shortage of new-build housing supply.

Author: Julia Naymushina