Bank of Greece: Apartment prices in Athens increased by 9.7% in 2022

Apartment prices in Athens increased significantly by 9.7% and by 8.6% in the whole country in the first quarter of 2022.

According to the data from the Bank of Greece, it is estimated that in a quarter of 2022, apartment prices (in nominal terms) were on average increased by 8.6% compared to the corresponding quarter of 2021.

For 2021, apartment prices increased at an average annual rate of 7.4% (revised figures), compared to an increase of 4.5% in 2020.

More specifically, the increase in prices in the first quarter of 2022 compared to the corresponding quarter of 2021 was 10.3% for new apartments, ie up to 5 years old, and 7.4% for old (over 5 years).

According to the revised data, for 2021, the average annual price growth rate for the new apartments was 7.9%, compared to an increase of 4.9% in 2020, while the average annual growth rate for the old apartments was 7.0 % in 2021, compared to an increase of 4.2% in 2020.

The analysis of data by geographical area shows that the increase in apartment prices in the first quarter of 2022 compared to the corresponding quarter of 2021 was 9.7% in Athens, 8.3% in Thessaloniki, 8.2% in other major cities and 6.4% in other parts of the country.

For the whole of 2021, the increase in prices in the same areas compared to 2020 was 9.4%, 7.2%, 5.7% and 4.8% respectively (revised data).

Finally, for all urban areas of the country, in the first quarter of 2022 apartment prices increased compared to the first quarter of 2021 by 9.2%, while for 2021 the average annual increase was 7.8 % (revised data).

READ MORE: Visiting Athens? Don’t forget to see these archeological sites in Attica.