According to recent data from Protio’s analysis of market trends for the last quarter of 2024, properties experience an average value increase of 58% after renovation, compared to their non-renovated counterparts.
Top 5 Areas of Notable Growth
Moschato leads the list with an impressive 116% increase in property value after renovation, showcasing the unique dynamics of the area. This is followed by Psirri, where renovated properties see a significant value boost of 95.5%. Omonia, a central Athens neighborhood with rising demand, comes in third, with a 61.5% increase in property value post-renovation.
Exarchia and Evangelismos round out the top five, with property values rising by 52% and 48.4%, respectively. These areas remain in high demand, as buyers seek modern, high-quality homes in close proximity to Athens' commercial and business hubs.
The trend of increasing property values for renovated homes continues to rise, with new areas entering the spotlight in the last quarter of 2024. More buyers are turning to properties that combine energy efficiency with contemporary design, emphasizing both sustainability and functionality across various neighborhoods.
Metaxourgeio has emerged as a standout, with renovated properties showing a 47% increase in value. Piraiki has also seen a notable 46.4% boost, while properties in Neo Aigaleo are appreciating by 44.8%, making it one of the top choices for renovation projects.
Strategically located areas such as Paradisos Amarousiou and Attica have seen a 44.6% and 40% rise in property values, respectively, further solidifying their growth potential. Additionally, traditionally affordable areas like Kypseli and Patisia have also experienced substantial increases in value—38.9% and 36%, respectively.
From Moschato and Omonia to Paradisos Amarousiou and Patisia, renovated properties are seeing value increases ranging from 36% to 116%, compared to their non-renovated counterparts. Protio’s analysis highlights that renovated properties are selling faster and achieving significantly higher sales prices, making them an attractive option for investors and property owners.
Antonis Fiorakis, Founder and CEO of Protio, commented, "The trends from the last quarter of 2024 reveal significant opportunities in Athens for property renovations that provide substantial added value. Our goal is to continue supporting sustainable development in the real estate market, focusing on strategic investments that benefit both the community and the environment."
