The Bank of Greece published provisional residential property price indices indicating that apartment prices (nominal) increased by 6.6% year on year in the fourth quarter of 2024. For 2024 as a whole, apartment prices rose by an average 8.7%, compared with an average increase of 13.9% in 2023. By property age, prices in Q4 2024 rose 9.1% for new apartments (up to five years old) and 4.9% for old apartments (over five years old); across 2024, new-apartment prices increased 10.1% and old-apartment prices 7.8%. Regionally in Q4 2024, apartment prices increased 6.2% in Athens, 8.2% in Thessaloniki, 4.6% in other cities and 8.7% in other areas of Greece (with 2024 averages of 8.2%, 11.2%, 7.1% and 10.6% respectively); across all urban areas, prices rose 5.9% in Q4 2024 and 8.4% in 2024. The indices are based on banks’ property valuations reported under the Bank of Greece Governor’s Act 2610/31.10.2008, with 930.2 thousand valuations reported up to end-December 2024.
Bank of Greece 2025-03-20
Bank of Greece reports apartment prices rose 6.6% year on year in Q4 2024
The Bank of Greece released provisional data showing a 6.6% year-on-year increase in nominal apartment prices in Q4 2024, with an average rise of 8.7% for the year, down from 13.9% in 2023. New apartments saw a 9.1% price increase in Q4, while old apartments rose by 4.9%. Regionally, Q4 price increases were noted in Athens (6.2%), Thessaloniki (8.2%), other cities (4.6%), and other areas of Greece (8.7%).