Real Estate Surge: Average Price of New Properties Exceeds €3,000 per sqm

The market for new properties in Greece continues its upward trajectory, surpassing a critical psychological and economic milestone. According to data from RE/MAX Greece, the average price per square meter for new properties up to five years old has now exceeded €3,000. This increase reflects broader market dynamics, with prices rising annually by 6.1% for new properties and 6.8% for older ones, driven by strong demand and limited supply. Athens remains the leading region, with an average price of €3,706 per sqm for new properties, marking a 6% increase compared to 2023. In central Athens, the average price stands at €3,633 per sqm, with significant increases observed in areas like Kypseli and Zografos. The Northern Suburbs see prices reaching €4,691 per sqm with a 6.6% rise, while in the Southern Suburbs, the average is €4,550 per sqm, showing a 6.9% increase. Western Suburbs have seen a 7.9% price hike to €2,887 per sqm. In Piraeus and surrounding areas, prices are at €3,476 per sqm, up by 5.2%. Across the rest of Attica, prices stabilized around €3,000 per sqm with a modest 3.4% increase. In Thessaloniki, the average price for new properties is €2,597 per sqm, increasing by 6.1%. Central Thessaloniki sees prices at €3,635 per sqm, with notable increases in Falirou. Eastern suburbs like Kalamaria and Karampournaki report an average of €2,736 per sqm, up by 7.1%. The Northern and Western parts of Thessaloniki also witnessed significant rises. Nationally, the average price for new properties reached €2,723 per sqm, rising by 6.3%. Investment interest extends beyond major urban centers and popular tourist destinations, reaching less prominent areas due to infrastructure upgrades, growth prospects, and incentives like the Golden Visa program. Despite high construction costs and limited land availability, demand for energy-efficient, modern constructions remains robust, driving this segment’s growth. Although prices have surpassed the €3,000 threshold, market interest remains strong.