
Residential property prices moved higher in the 3Q2021
Apartment prices increased year-on-year by 9.8% in Athens, 8.7% in Thessaloniki, 5.9% in other cities.
Ιn the third quarter of 2021, the annual rate of change in apartment prices for the entire country stood at 7.9%, according to the Bank of Greece.
According
to Bank of Greece's data that were collected from credit institutions, apartment prices (in nominal terms)
are estimated to have increased on average by 7.9% year-on-year in the third
quarter of 2021. According to revised data, the year-on-year increase in the first
and second quarter of 2021 was 4.3% and 6.2% respectively, while in 2020
apartment prices increased by an average annual rate of 4.5%.
More specifically, in the third quarter of 2021 the year-on-year rate of
increase in prices was 7.6% for new apartments (up to 5 years old) and 8.2% for
old apartments (over 5 years old). According to revised data, in the first and
second quarter of 2021, an increase of 4.5% and 6.2%, year-on-year,
respectively was recorded in prices for new apartments, whereas for old
apartments the prices increased by 4.1% and 6.2%. In 2020, the average annual
rates of increase were 4.8% and 4.2% for the prices of new and old apartments,
respectively.
Broken
down by region, in the third quarter of 2021 apartment prices increased
year-on-year by 9.8% in Athens, 8.7% in Thessaloniki, 5.9% in other cities and 5.7%
in other areas of Greece. According to revised data, in the first and second quarter
of 2021 apartment prices increased, year-on-year respectively, by 6.7% and 8.3% in Athens, 4.6% and 5.4%
in Thessaloniki, 2.1% and 4.4% in other cities and 1.3% and 3.6% in other areas
of Greece.
For 2020 as a whole, prices increased on average by
7.8%, 5.0%, 0.2% and 1.8% respectively in the above-mentioned areas. Finally,
as regards all urban areas of the country, in the third quarter of 2021
apartment prices increased year-on-year by 8.3%. Based on revised data, in the
first and second quarter of 2021 apartment prices in all urban areas increased
by 4.4% and 6.4% year-on-year respectively, while for 2020
they increased at an average annual rate of 4.7%.
|
2019 |
2020 * |
2020 * |
2021 * |
||||
Q3 |
Q4* |
Q1* |
Q2* |
Q3* |
||||
Ι. OVERALL |
||||||||
Price index (2007=100) |
64.4 |
67.3 |
67.7 |
67.5 |
69.6 |
71.2 |
73.1 |
|
(%) change over previous year |
7.2 |
4.5 |
3.9 |
3.0 |
4.3 |
6.2 |
7.9 |
|
|
||||||||
II. BY AGE |
||||||||
1. New (up to 5 years old) |
||||||||
Price index (2007=100) |
66.7 |
69.9 |
70.3 |
70.3 |
72.6 |
74.0 |
75.7 |
|
(%) change over previous year |
7.7 |
4.8 |
4.3 |
2.4 |
4.5 |
6.2 |
7.6 |
|
2. Old (over 5 years old) |
||||||||
Price index (2007=100) |
63.0 |
65.6 |
66.1 |
65.8 |
67.8 |
69.5 |
71.5 |
|
(%) change over previous year |
6.9 |
4.2 |
3.6 |
3.5 |
4.1 |
6.2 |
8.2 |
|
|
||||||||
ΙΙΙ. BY GEOGRAPHICAL AREA |
||||||||
1. Athens |
||||||||
Price index (2007=100) |
63.9 |
68.9 |
69.4 |
70.0 |
72.2 |
74.1 |
76.2 |
|
(%) change over previous year |
10.6 |
7.8 |
6.8 |
6.2 |
6.7 |
8.3 |
9.8 |
|
2. Thessaloniki |
||||||||
Price index (2007=100) |
58.9 |
61.8 |
62.0 |
62.0 |
64.1 |
65.3 |
67.4 |
|
(%) change over previous year |
6.9 |
5.0 |
5.0 |
4.4 |
4.6 |
5.4 |
8.7 |
|
3. Other cities |
||||||||
Price index (2007=100) |
64.5 |
64.6 |
65.3 |
64.1 |
65.7 |
67.4 |
69.1 |
|
(%) change over previous year |
3.7 |
0.2 |
-0.2 |
-0.6 |
2.1 |
4.4 |
5.9 |
|
4. Other areas of Greece |
||||||||
Price index (2007=100) |
67.7 |
69.0 |
69.2 |
68.1 |
70.4 |
71.6 |
73.1 |
|
(%) change over previous year |
4.5 |
1.8 |
1.5 |
-0.6 |
1.3 |
3.6 |
5.7 |
|
5. Urban areas (total) |
||||||||
Price index (1997=100) |
163.5 |
171.2 |
172.5 |
171.8 |
177.3 |
181.9 |
186.9 |
|
(%) change over previous year |
7.4 |
4.7 |
3.9 |
3.2 |
4.4 |
6.4 |
8.3 |