by admin According to data from the Bank of Greece, apartment prices in the country have increased by 8.6% in the first quarter of 2022. Based on the age of the property, the prices of the newly-built apartments increased by 10.3% and the older ones by 7.4%, while based on their geographical location, the largest increase is located in Athens by 9.7%. Thessaloniki shows increase by 8, 3% and the other big cities an average increase by 8.2%. In other parts of the country prices have increased by 6.4%. Based on the available provisional data, the Bank of Greece estimates that during the first quarter of 2022 the prices of apartments (in nominal terms) showed an 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 apartment prices during the first quarter of 2022, in comparison to the corresponding quarter of 2021, was 10.3% for new apartments, i.e. up to 5 years old, and 7.4% for old apartment, i.e. older than 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, in comparison 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. During 2021, the increase in prices in the same areas, in comparison 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).
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