In the last quarter of 2024, there was an increase in both sale and rental prices of homes across the country. The average asking sale prices rose by 7.9% compared to Q4 2023 and by 2.2% compared to Q3 2024.
Similarly, the average asking rental prices increased by 5.8% compared to Q4 2023, while they remained roughly the same as in Q3 2024.
The increases in average asking sale prices are attributed to the continued interest from buyers and investors in properties located in urban centers and tourist destinations, as well as the upcoming launch of the "My Home 2" housing program, which is expected to boost demand for eligible homes.
According to the research conducted by the platform, the Southern Suburbs of Athens maintain their undisputed position as the most expensive area for purchasing homes in Q4 2024. The Cyclades are in second place, followed by the Northern Suburbs of Athens and the Lefkada region. An interesting development is the entry of the Chania region into the top five most expensive areas in Greece for purchasing homes.
As for rental prices, the Southern Suburbs again stand out as the area with the highest average asking rental prices. The Cyclades also appear high on the list, with the Northern Suburbs and the center of Athens following. The fifth spot is occupied by Piraeus. Notably, rental prices in Halkidiki remain consistently high due to increased tourist activity and the large availability of short-term rental options.
On the other hand, the most affordable areas for purchasing homes in Greece are the Kastoria and Kozani regions, followed by Karditsa, Florina, and Kilkis. The most affordable areas for renting homes are Kilkis, the rest of Thessaloniki, Pella, Imathia, and Kastoria.
In the Southern Suburbs, the most expensive areas for purchasing homes in Athens in Q4 2024 are primarily located. Specifically, the most expensive area is Vouliagmeni, with an average asking sale price of €7,216/m². It is followed by Voula, Glyfada, Kolonaki-Lykavittos, and Elliniko.
For rental properties, Vouliagmeni again tops the list with the highest average asking rental price of €19.9/m². It is followed by areas such as Filothei, Kolonaki-Lykavittos, Glyfada, and Vari-Varkiza. The most affordable areas for purchasing homes in Athens are Agia Varvara, Perama, Acharnes, Varbava, and Patissia. Regarding rentals, the areas with the lowest average asking rental prices in Athens in Q4 2024 are Perama and Acharnes, followed by Kryoneri, Nea Chalkidona, and Ilion.
Looking at the developments in Thessaloniki's market during Q4 2024, the most expensive areas for purchasing homes are Kalamaria (€2,917/m²), the city center (€2,778/m²), and Pylaia (€2,634/m²). As for rental properties, the highest rental prices are found in the city center (€10.5/m²), Vardari-Lahanokipoi (€10.0/m²), and Ano Poli (€9.6/m²).
Conversely, the most affordable areas for purchasing homes in Thessaloniki are primarily in its suburbs. The most affordable areas for buying a home include Kallithea (€864/m²), Mygdonia (€974/m²), and Vasilika (€1,064/m²). Similarly, the most affordable rental areas in Thessaloniki are Mygdonia (€4.2/m²), Vasilika (€5.0/m²), and Chortiatis (€5.3/m²).
Increases of over 20% in average asking sale prices were recorded in various parts of Athens in Q4 2024 compared to the same period in 2023. The highest increases were in the areas of Tampouria-Agia Sophia in Piraeus (27.6%), Ano Patissia (25.5%), Drapetsona (23.2%), and the center of Athens, with a 22.7% increase.
In terms of rental prices, the areas in Athens that saw the highest increases in average asking rental prices in Q4 2024 compared to Q4 2023 were in the suburbs of Piraeus, the center of Athens, and the Eastern Suburbs. Specifically, the area with the largest increase in average asking rental prices for Q4 2024 is Moschato (28.5%). Other areas with significant increases include Tavros (22.1%), Marathon (28.2%), Drapetsona (23.2%), and the Center of Athens (26.4%).
In Thessaloniki, the highest increases in sale prices in Q4 2024 compared to the same period in the previous year were recorded in Menemeni (22.0%), the Voulgari-Depo-Martiu area (20.0%), and Ehedoro (19.5%). Significant increases were also observed in average asking rental prices in Menemeni (23.3%), Eleftherio-Kordelio (22.4%), and Sykees (17.6%) in Q4 2024 compared to the same period in the previous year.
