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Residential Property Price Index in Greece – Q4 2024 Overview

The latest figures reveal that apartment prices across Greece rose by 6.6% year-on-year in Q4 2024, continuing the upward trend seen in the country’s residential real estate market.

Growth by Property Age

Price growth varied depending on the age of the property:

New apartments (up to 5 years old) experienced a significant 9.1% increase compared to Q4 2023.

Older apartments (more than 5 years old) saw a more moderate rise of 4.9% over the same period.

Regional Breakdown

The rise in apartment prices also differed by location:

  • Athens: up 6.2% year-on-year
  • Thessaloniki: up 8.2%
  • Other major cities: up 4.6%
  • Other regions of Greece: up 8.7%

Full-Year Insights for 2024

Over the course of 2024, apartment prices across Greece increased by an average of 8.7%, slowing from a stronger 13.9% increase in 2023.

When broken down further:

  • New apartment prices rose by 10.1% in 2024 (compared to 12.9% in 2023).
  • Old apartment prices went up by 7.8% (down from 14.5% in 2023).

Annual Regional Trends (2024)

  • Athens: +8.2%
  • Thessaloniki: +11.2%
  • Other cities: +7.1%
  • Other areas of Greece: +10.6%

For all urban regions combined, apartment prices in Q4 2024 rose by 5.9% compared to the same quarter of 2023. Over the full year, the urban average increase stood at 8.4%.

According to the latest data from the Bank of Greece, the most attractive real estate offers at the moment are found in Thessaloniki. This is due to the fact that during the economic crisis, the area was hit harder than others and property prices dropped significantly. Today, the situation has drastically changed — the market is experiencing a strong recovery, and the upward trend in prices indicates that growth is continuing.

In our opinion, now is the perfect time to invest in real estate in Thessaloniki. The market is in an active growth phase, and purchasing property at today’s prices can yield significant returns in the near future.

Below, you’ll find our up-to-date selection of real estate opportunities in Thessaloniki at the most competitive prices available.

Real Estate Offers

* Source: Bank of Greece

Ioannis Stampolis,

Property sale advisor of Ellas Estate DS Group