Broken down by age of property, the annual rate of change in prices of new apartments was 4.7% and of old apartments 4.6%.
Broken down by region, the annual rate of change in prices of apartments was 6.4% in Athens, 4.1% in Thessaloniki, 3.2% in other cities and 2.6% in other areas of Greece.
According to data collected from credit institutions, apartment prices (in nominal terms) are estimated to have increased on average by 4.6% year-on-year in the second quarter of 2021. According to revised data, the respective increase in the first quarter of 2021 was 3.5%, while in 2020 apartment prices increased by an average annual rate of 4.4%.
Specifically, in the second quarter of 2021 the year-on-year rate of increase in prices was 4.7% for new apartments (up to 5 years old) and 4.6% for old apartments (over 5 years old). According to revised data, in the first quarter of 2021 an increase of 3.4% year-on-year was recorded in prices for new apartments, whereas for old apartments the prices increased by 3.6%. In 2020, the average annual rates of increase were 4.8% and 4.1% for new and old apartments, respectively.
Broken down by region, in the second quarter of 2021 apartment prices increased year-on-year by 6.4% in Athens, 4.1% in Thessaloniki, 3.2% in other cities and 2.6% in other areas of Greece. According to revised data, in the first quarter of 2021 apartment prices increased by 5.6% in Athens, 3.8% in Thessaloniki, 1.6% in other cities and 0.9% in other areas of Greece, compared with the first quarter of 2020.
For 2020 as a whole, prices increased on average by 7.6%, 4.8%, 0.2% and 1.8% respectively in the above-mentioned areas. Finally, as regards all urban areas of the country, in the second quarter of 2021 apartment prices increased year-on-year by 4.7%. Based on revised data, in the first quarter of 2021 apartment prices in all urban areas increased by 3.6% year-on-year, while for 2020 they increased at an average annual rate of 4.7%.
