Bank of Greece: The prices of the properties were “Calpa” in 2023 – “Protia” for Athens and Thessaloniki

Vertical growth was noted by real estate in 2023, as evidenced by the TTE. Specifically, in 2023, apartment prices increased at an average annual rate of 13.4%, compared to an increase of 11.9% in 2022, according to the Bank of Greece. More specifically, the increase in prices in the fourth quarter of 2023 compared to the corresponding quarter of 2022 was 11.0% for new apartments, i.e. up to 5 years of age, and 12.4% for old ones, i.e. over 5 years of age. For 2023, the average annual rate of increase in prices for the new apartments was 12.4%, compared with an increase of 12.5% in 2022, while the average annual rate of increase for the old apartments was 14.2% in 2023, compared with an increase of 11.6% in 2022. The analysis of the data by geographical area shows that the increase in apartment prices in the fourth quarter of 2023 compared to the corresponding quarter of 2022 was 10.8% in Athens, 14.6% in Thessaloniki, 13.9% in other major cities and 11.2% in other regions of the country. For the total of 2023, the rise in prices in the same regions as 2022 was 13.7%, 16.2%, 14.5% and 10.8% respectively. Finally, for all urban areas of the country, in the fourth quarter of 2023 the prices of the apartments were on average increased by 12.1% compared to the fourth quarter of 2022, while for 2023 the average annual increase was 13.9%. Source: RES – ICM