The data of the Bank of Greece show that in the first quarter of the
year the prices of apartments were increased by an average of 3.2%
compared to the corresponding period of 2020. It is recalled that
cumulatively in the two years 2019 - 2020 the prices of real estate
increased by about 11.5%.
More specifically, the price increase in the first quarter of 2021,
compared to the corresponding quarter of 2020, was 2.9% for the new
apartments, ie up to 5 years old, and 3.4% for the old ones, ie over 5
years old. For 2020, based on the revised data, the average annual price
increase was 4.7% for the new apartments, compared to an increase of
7.7% in 2019, while the corresponding increase for the old apartments
was 4.0% in 2020 , against an increase of 6.9% in 2019.
From the analysis of the data, by geographical area, it appears that the
prices of apartments in the first quarter of 2021 compared to the
corresponding quarter of 2020 increased by 5.4% in Athens, 3.7% in
Thessaloniki, 1.1% in other major cities and 0.5% in other parts of the
country.
For 2020, based on the revised data, the average annual increase in
apartment prices in the same areas was 7.6%, 4.8%, 0.1% and 1.6%
respectively. Finally, for all urban areas of the country, in the first
quarter of 2021 apartment prices increased by 3.3% compared to the first
quarter of 2020, while for the whole of 2020, the average annual growth
was 4.6%, compared to an increase of 7.4% in 2019.
