Paradox in capital’s house market
The supply of houses for sale in Attica remains consistently low, as demand remains high and new buildings are scarce, while they are also sold at non-affordable prices for most buyers, around 3,500-4,500 euros per square meter on average. Yet prices continue to rise at double-digit rates, even in areas where there has been a significant increase in the number of properties on sale.
According to data from “Chryssi Efkairia” classifieds, in the center of Athens there was a 7.6% drop in 2023 in the number of houses for sale to 63,892. In this context, asking prices continued to move strongly upward, increasing by 11.73%, to €2,326/sq.m.
The largest decrease was in smaller apartments (up to 80 sq.m.), whose number fell 10.5%, to 36,686, while their rate increased 14%, to €2,112/sq.m. A significant factor has been the My Home housing program, which resulted in more properties sold while increasing prices.
On the other hand, Peristeri, also an area with several properties suitable for the program, recorded an increase in supply and in asking prices: Supply rose 26.13%, to 4,098 properties, while prices rose 14.2%, revealing a mismatch in sellers’ and buyers’ expectations.
