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ΡΑΛΙ 12%

New increase in apartment prices in Greece
  • 30 Apr 2023
  • economy

Based on the data collected by the credit institutions, it is estimated that in the fourth quarter of 2022 apartment prices (in nominal terms) were on average increased by 12.2% compared to the corresponding quarter of 2021, while for in 2022 apartment prices increased at an average annual rate of 11.1%, compared to an increase of 7.6% in 2021.

In more detail, the price increase in the fourth quarter of 2022 compared to the corresponding quarter of 2021 was 12.1% for new apartments, i.e. up to 5 years old, and 12.2% for old ones, i.e. aged over 5 years old.

For 2022, the average annual rate of increase in prices for new apartments was 11.8%, compared to an increase of 8.2% in 2021, while the average annual rate of increase for old apartments was 10.5%, compared to an increase of 7, 2% in 2021.

From the analysis of the data by geographic region, it follows that the increase in apartment prices in the fourth quarter of 2022 compared to the corresponding quarter of 2021 was 15.2% in Athens, 14.5% in Thessaloniki, 10.3% in other large cities and 6.3% in the other regions of the country. For the whole of 2022, the price increase in the same regions compared to 2021 was 13.0%, 11.8%, 10.0% and 7.4% respectively.

Finally, for all urban areas of the country, in the fourth quarter of 2022, apartment prices increased by 13.0% compared to the fourth quarter of 2021, while for 2022 the average annual increase was 11.5 %.

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