Housing

How much is the Greek market at risk as a whole from the trend in real estate? An alarm has sounded in the real estate market about the possibility of a "bubble" in real estate. As prices continue to increase, at the first quarter of the year home sale prices compete at double the rate of growth. The properties The figures are revealing, according to which the sales prices of newly built apartments...

The market share of second-hand properties on all sales that take place is now increasing, since the cost of buying a newly built home is considered prohibitive for the majority of households. A large portion of real estate buyers turn to second-hand properties as prices are lower than new constructions but there is more room for negotiation with sellers. At the same time, the cost of buying an old...

The current economic situation, but sometimes an entire period of history, can be captured by the price fluctuations of a small apartment. A friend of mine was described me a few days ago the adventures and destiny of a small apartment she owns in Ampelokipoi over the last 20 years. The ground-floor apartment, which her family bought her during her student years up until the day she got marriage, became...

The rate of home ownership in the country has shown a significant decline in recent years. In particular, during the period between 2005 and 2021, the percentage of home ownership in Greece fell from 84.6% to 73.3%, losing 11.3%, according to Eurostat data. The housing stock in Greece, according to Eurostat, for the year 2019 was 3,949,900 residences – houses. According to the official data of Eurostat...

A lack of demand for buying real estate in the northern suburbs of Athens has been observed in recent years, in comparison with both the southern and the central areas of Athens. Why do the northern suburbs not follow the ‘rally’ of the southern suburbs? According to Lefteris Potamianos, President of the Association of Real Estate Agents of Athens and Attica, there are three reasons. The first reason...

Today's market conditions are completely different from those that followed the financial crisis and led to the collapse of the real estate market, emphasised the president of the Athens-Attica Real Estate Agents’ Association, Lefteris Potamianos, while speaking at the 3rd Greek-Serbian Forum, held in Thessaloniki. "Today most of the transactions – at least this my feeling and of my colleagues’ from...

Like many young Greeks, Christina Pappa had to look for a cheaper apartment in an Athens suburb after her rent went up and was relieved to find one through acquaintances. With a rent of 200 euros per month, she is lucky, the publisher notes. While Greece's economy is growing at nearly twice the rate of the euro zone this year, thanks to a strong recovery in tourism, young people are increasingly being...

The prices of rents in Attica are constantly increasing, as a result of which, it becomes more and more difficult to find cheap housing. In the center of Athens, prices have increased by 10% during the last year, while the cumulative increase in rents over the last three years ranges between 30% and 35%. As Mr. Lefteris Potamianos points out (the President of the Association of Realtors of Athens -...

The dynamics of real estate prices and rentals have been examined by Alpha Bank in its Weekly Bulletin of Economic Developments (July 2022), highlighting, among other things, the effect that of increase in telecommuting on the property market. In particular, Alpha Bank's analysis team points out that the rise in residential property prices and rents over the last two years is a pan-European phenomenon....

Rents remain high, mainly in the country's urban centers, according to the latest data from the real estate market. According to the Greek Statistical Survey's (ELSTAT) latest data on inflation, housing costs for citizens has increased by 35% within a year, due to the increase in prices for house rents, electricity, gas, heating petrol and solid fuels. On the issue of high rents, Lefteris Potamianos,...