Gap Widens Between Asking and Actual Property Prices

A significant gap continues to separate the asking price from the final sale value in real estate, particularly in high-demand areas. This discrepancy reflects not only the difference between sellers’ expectations and buyers’ budgets but also the pressure of the current economic environment on the actual market. According to recent data from Prosperty, for properties built before 1980 in Glyfada, the average transfer value rose to €3,033 per square meter, while the asking price was set at €4,239 per square meter—a deviation exceeding 39%. A similar pattern is observed in newer constructions. For properties built between 1980-1989, the average transfer value was €3,069 per square meter with an asking price of €3,580, and for those built between 1990-1999, the sale price reached €3,008 per square meter against an asking price of €3,839. The gap narrows slightly for more modern properties but remains noticeable, even for the most recent constructions (2020-2023), where the transfer value stands at €4,780 per square meter compared to an asking price of €5,539. Similar discrepancies are found in areas like Chalandri and Peristeri. The gap between asking and actual prices indicates that the market moves slower than sellers anticipate. Despite rising prices and demand in certain areas, buyers remain cautious and well-informed, using comparison tools and real transaction data. As the market matures and data becomes more transparent, this difference is expected to decrease—at least for properties near pricing thresholds that align with real purchasing power. Until then, compromise will remain key to closing deals. In 2024, 61.85% of available homes for sale were built before 1999, with the largest portion (22.3%) constructed between 1970-1979. Buyers prioritize location, price, size, floor level, number of bedrooms, parking availability, year of construction, and whether the property has been renovated.