Greek property prices are on the upswing, with significant increases, especially in certain regions when compared to 2022. According to the Spitogatos portal, the housing market in Greece is showing remarkable growth.
Areas with the Highest Price Increases
Several areas have experienced the most substantial price hikes:
- Piraeus Suburbs: Prices surged by 23.2%, reaching an average of €1.7 thousand per square meter.
- Corfu: Saw an increase of 21.5%, with an average price of €2 thousand per square meter.
- Thessaloniki: Recorded a 21.2% increase, with an average of €2.1 thousand per square meter.
- Western Athens: Experienced a growth of 19.2%, with an average of €1.8 thousand per square meter.
- Thessaloniki Suburbs: Prices rose by 18.9%, reaching an average of €1.5 thousand per square meter.
The highest price per square meter can be found in South Athens, at €3.1 thousand.
Exceptions to the Trend
However, there are a couple of exceptions to this overall trend, where prices have gone down:
- Kastoria: Prices decreased by 16%, with an average of €588 per square meter.
- Boeotia: Saw a decline of 9.3%, with an average of €1.3 thousand per square meter.
It's worth noting that these areas are located in central Greece, far from the sea, and are typically not favored by foreign investors.
The "Golden Visa" Influence
The suburb of Piraeus stands out as a top performer in terms of price growth. This is attributed to the retention of the minimum threshold of €250,000 for purchasing real estate to obtain a "golden visa."
While the "golden visa" program is currently unavailable to Russians, individuals with a second passport, such as a Turkish one obtained through investment, can apply for a Greek "golden" residence permit.
