Older homes have drawn the most interest from buyers in recent years, a trend that was confirmed based on data for 2024.
According to the RE/MAX Hellas real estate network, nationwide, 66.1% of homes purchased last year were over 20 years old, while 19.3% of buyers chose newly built homes (up to five years old). This is significantly increased compared to 2023, which indicates a gradual strengthening of demand for new, modern homes – especially in areas outside the two major urban centres of Attica and Thessaloniki, where reconstruction has increased.
In Attica, the picture is quite different, as 82.9% of sales concerned houses over 20 years old, compared to only 4% sold from the newly built market, reflecting both the limited availability of new properties in Attica but also the very high demand for more affordable solutions. A similar picture was observed in Thessaloniki, where 80.6% of buyers moved to houses over 20 years old, while only 7.6% preferred new constructions.
On the contrary, outside Athens and Thessaloniki the picture is different, as newly built properties were preferred by 28% of buyers, compared to 56.2% who bought houses over 20 years old. This is due both to the greater availability of new constructions and to them being more affordable compared to those in Attica and Thessaloniki, mainly due to the lower cost of land.
Based on the latest RE/MAX Hellas survey on the course of sales prices, the average annual increase was 6.5% in 2024, compared to 12% in 2023 for all of Greece. Newly-built properties (up to five years old) increased by 6.1% to 3,000 euros per square meter, from 11% in 2023. Properties over five years old ended 2024 with an increase of 6.8% to €2,000/sq.m., compared to a 13% increase in 2023.
In Attica, prices of older properties increased by 6.5% on average, from 13.1% in 2023, to €2,460/sq.m., from €2,300/sq.m. Correspondingly, newly built properties increased by 6%, from 10.6%, with the average selling price reaching €3,705/sq.m., from €3,470/sq.m. in 2023.
Nevertheless, the cost of buying a new home in the rest of Greece is much lower, as it did not exceed €2,725/sq.m., which also explains the preference of buyers for such properties, although older homes are even cheaper and do not exceed €1,760/sq.m.
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