PROPERTY

Annual 3.7% house price rise

annual-3-7-house-price-rise

Asking prices for property are up 3.7% year-on-year across Greece, according to the Spitogatos Property Index (SPI), and have reached 1,244 euros per square meter, while the average rental rate posted a marginal drop of 0.8%, to €6.8/sq.m.

SPI data showed that the biggest rise in sale prices was in the northwestern town of Grevena, by 24% in March 2021 compared to a year earlier, while those on the Northern Sporades (Skiathos, Skopelos, Alonnisos and Skyros) have seen a 10.3% yearly drop. In rental terms, Lesvos witnessed the greatest increase (25%) and Ilia the steepest fall (18.2%).

In the center of Athens, asking prices posted 0.7% growth, while rental rates slumped 7%. In the northern suburbs, the average asking price was up 6.4% and rental rates saw a 6.1% increase. Across the southern suburbs asking prices advanced 6.4% although rents went down 5.7%. The capital’s western suburbs saw rents jump 12.7% and a 6.3% ascent in prices. Prices in the eastern suburbs of the capital rose 4.2% and rents 4.1%.

Across Attica’s islands, sale prices slumped 9.1% but rental rates jumped 24.4%, Spitogatos reported.