The average price of Greek property in 2024 increased by 8.7%, well above Greece’s inflation rate, though the pace of growth slowed throughout the year. According to the latest data from the Bank of Greece, the rise dropped from 10.8% in the first quarter to 6.6% by the fourth quarter.
In the greater Athens area, property prices grew by 8.2% in 2024, a more moderate increase compared to the 13.9% rise recorded in 2023.
In Thessaloniki, the average price of property rose by 11.2%, a smaller jump than the 16.6% increase seen in 2023.
Across other major cities in Greece, property prices increased by 7.1% collectively in 2024, less than half the 15% rise recorded in 2023.
In other regions, the average property sale price rose by 10.6%, mainly driven by higher-priced sales in tourist destinations, though this was a slight decrease from the 11.6% increase in 2023.
Property market sources say the slowdown is a result of reduced purchasing demand compared to 2023, when the first cycle of the “My Home” program had maintained the volume of purchases and sales at a high level.
In 2024 this factor disappeared, but prices continued their upward trajectory since supply was more deficient compared to demand; Most domestic buyers are looking for properties worth up to 200,000-250,000 euros, which are increasingly difficult to find which pushes prices up in this price range
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