The second quarter of this year saw an acceleration in the average rate of increase in residential property sales prices in Greece. According to the price indexes of the Bank of Greece (BoG), the increase at a national level amounted to 7.3%, from 7% in January-March.
This trend was more evident in Attica and the large urban centres, while in contrast in Thessaloniki and the rest of the country a mild slowdown in the rate of increase was recorded, which however remains much higher than the national average.
In Attica, in particular, the annual price increase in the second quarter was 5.9% (from 5.2% in the first quarter), while in the other major cities it was 8.5%, from 7.7% in the first quarter (and 5.1% in the fourth quarter of 2024). In Thessaloniki, the increase in the second quarter of this year amounted to 8.8%, from 10.1%, and in the rest of the country there was also an increase of 8.8% on an annual basis, compared to an increase of 9.1% in the first quarter of the year.
These figures are an indication of the impact that the ongoing “My Home” program has had on prices, as its second cycle, with a budget of 2 billion euros, started at the beginning of the year and the first transactions began to be recorded from April onward.
(The Greek “My Home” program offers low-interest or interest-free housing loans to young people and couples for the purchase of their first home with-in certain limts, aiming to make homeownership more accessible)
If you are looking to but a property in Greece, Spain or Portugal and need a mortgage, email mark@vci-network.com for the latest criteria