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GreeceBusinessApartment prices up 11.9% in Q3. Bank of Greece report says

Apartment prices up 11.9% in Q3. Bank of Greece report says

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Apartment prices (in nominal terms) are estimated to have increased on average by 11.9% year-on-year in the third quarter of 2023, according to provisional data released by the Bank of Greece on Thursday.

More specifically, in 2022, apartment prices increased at an average annual rate of 11.9% (revised data), compared with an average increase of 7.6% in 2021.

In the third quarter of 2023, the year-on-year rate of increase in prices was 11.6% for new apartments (up to 5 years old) and 12.2% for old apartments (over 5 years old). According to revised data, in 2022 prices of new apartments increased on average by 12.4%, against an increase of 8.2% in 2021, whereas prices of old apartments increased by 11.5% in 2022, against an increase of 7.2% in 2021.

Broken down by region, in the third quarter of 2023 apartment prices increased year-on-year by 12.0% in Athens, 15.4% in Thessaloniki, 12.8% in other cities and 9.5% in other areas of Greece. For 2022 as a whole, prices increased on average by 13.9%, 12.6%, 10.9% and 8.2% respectively in the above-mentioned areas (revised data).

Finally, as regards all urban areas of the country, in the third quarter of 2023 apartment prices are estimated to have increased on average by 12.1% year-on-year, while for 2022 they increased at an average annual rate of 12.3% (revised data).

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SOURCE; ANA-MPA

The copyrights for these articles are owned by the Hellenic News of America. They may not be redistributed without the permission of the owner. The opinions expressed by our authors do not necessarily reflect the opinions of the Hellenic News of America and its representatives.

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