Sale and rental prices' evolution for residential units in the center of Athens and the suburbs in relation to their energy class from 2021 until today is recorded by the price index of the real estate platform Spitogatos (SPI).
Sale and rental prices are increasingly influenced by the energy performance of a property, as European directives, Greek legislation and support programs such as "Excoyonmo" have made the energy class a central element in assessing the commercial performance of properties .
The southern suburbs of Athens record the highest asking prices
According to the recent SPI data on houses for sale with a high energy class, i.e. A+, A, B+, B, in Athens and its Suburbs, the highest average asking price is found in the Southern Suburbs of Athens (4,636 euros/ sq.m.), while the lowest in the Eastern Suburbs (2,800 euros/sq.m.), where the largest price increase from 2021 to date (52.4%) is also noted. At the level of annual change, the largest increase in the average asking price of a residence with a high energy class compared to 2023 occurred in the center of Athens (19.9%).
In medium energy class homes (C, D, E), the highest average asking price is again found in the Southern Suburbs (3,133 euros/sq.m) and the lowest in the Western Suburbs, where also the largest price increase in comparison with 2021 (28.3%) but also the previous year (10.7%).
Regarding the purchase of low energy class (F, G) housing in Athens and the Suburbs, the lowest average asking price (1,429 euros/sq.m) is recorded in the Western Suburbs, while the highest price is observed in the Northern Suburbs (2,514 euros/sq.m.). From 2021 to date, a high increase (29.9%) is noted in the average asking price of low-energy housing in the Western Suburbs, while in terms of annual price change, an increase of 11.1% was observed in the last year in the Eastern Suburbs but also the center of Athens for low energy efficiency homes.
From 2021 to today, the average asking price of homes for sale in Athens and the Suburbs increased significantly, with high energy class homes seeing the largest increases across all areas.
Property rentals
In the Southern Suburbs of Athens, the highest average asking rental price for houses with high energy class i.e. A+, A, B+, B is found, reaching 15.3 euros/sq.m., while the lowest is recorded in the Western Suburbs with 8.9 euros /sq.m. An impressive 36.0% increase in the median asking rental price for energy efficient homes in the South Suburbs from 2021 to 2024. Compared to the previous year, the largest increase in the median asking rental price for energy efficient homes is in the South Suburbs of Athens (12.7%), followed by the Eastern Suburbs with an increase of 12.3%.
Houses for rent with a medium energy class (C, D, E) record the highest average rental price in the Southern Suburbs, reaching 12.0 euros per square meter, while the lowest price is found in the Western Suburbs, at 8.1 euros/m .m. The increase in the rental price of houses with a medium energy class in the Eastern areas of Athens is noteworthy, where prices jumped by 28.2% from 2021 to date. Comparing the average asking price of houses for rent with a medium energy class in Athens and its Suburbs in 2024 compared to the previous year, the Western Suburbs show the largest increase of 8.4%.
Finally, houses with a low energy class (F, G) present the highest average asking rental price in the Northern Suburbs (10.9 euros/sq.m), while the Western Suburbs remain the most economical option (8.0 euros/ sq.m.). The Eastern Suburbs saw the largest increase in the average asking rental price of low-energy housing, with an overall increase of 38.2% from 2021 to 2024. Specifically, in 2023-2024 alone, the increase was 19.9%
High energy efficiency homes supply
In the Southern Suburbs of Athens, over 40% of the high energy class homes available for sale are concentrated, followed by the Northern Suburbs and the center. Mid-energy class homes are more evenly distributed in the South, North Suburbs and the centre, with smaller offerings in the West and East Suburbs. 50% of low energy class homes are located in the center of Athens, followed by the Southern and Western Suburbs.
For 2024, the North and South Suburbs of Athens, together with the center, gather over 85% of the available houses for rent with a high energy class (A+, A, B+, B), with the South Suburbs owning more than 40% In residences with medium energy class, the Southern Suburbs maintain the lead, followed by the center of Athens. Finally, the center of Athens gathers more than 40% of the supply of low energy class (F and G) houses.
