The Bank of Greece released provisional residential property price indices for the first quarter of 2025, estimating that nominal apartment prices increased by 6.8% year on year across Greece. The annual pace was lower than the revised average annual increase of 8.9% in 2024 and 13.9% in 2023. By property age, prices of new apartments (up to five years old) rose 8.0% year on year and prices of older apartments (over five years old) rose 6.0%. Regionally, apartment prices increased by 5.5% in Athens, 10.0% in Thessaloniki, 7.3% in other cities and 8.0% in other areas of Greece, while the estimate for all urban areas was 6.2% year on year. The indices are based on valuation and property-characteristic data reported by all credit institutions operating in Greece, with 936.2 thousand valuations received for reference periods up to end-March 2025.
Bank of Greece 2025-06-02
Bank of Greece indices show apartment prices rose 6.8% year on year in Q1 2025
The Bank of Greece released provisional residential property price indices for Q1 2025, showing a 6.8% year-on-year increase in nominal apartment prices across Greece. This growth is slower than the revised annual increases of 8.9% in 2024 and 13.9% in 2023. Regional price changes include a 5.5% rise in Athens and a 10.0% increase in Thessaloniki, with indices based on data from 936.2 thousand valuations by credit institutions.