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Economy

Apartment Prices Up 8.6% in Q1

ΑΤΗΕΝΣ – Apartment prices rose by 8.6% in the first quarter of 2022, compared with the same period in 2021, the Bank of Greece said on Tuesday. More specifically, in 2021, apartment prices increased by an average annual rate of 7.4% (revised data), compared with an average increase of 4.5% in 2020.

In the first quarter of 2022, the year-on-year rate of increase in prices was 10.3% for new apartments (up to 5 years old) and 7.4% for old apartments (over 5 years old). According to revised data, in 2021 prices of new apartments increased on average by 7.9%, against an increase of 4.9% in 2020, whereas prices of old apartments increased by 7.0% in 2021, against an increase of 4.2% in 2020.

Broken down by region, in the first quarter of 2022 apartment prices increased year-on-year by 9.7% in Athens, 8.3% in Thessaloniki, 8.2% in other cities and 6.4% in other areas of Greece. For 2021 as a whole, prices increased on average by 9.4%, 7.2%, 5.7% and 4.8% respectively in the above-mentioned areas (revised data). Finally, as regards all urban areas of the country, in the first quarter of 2022 apartment prices increased by 9.2% compared to the first quarter of 2021, while for 2021 they increased at an average annual rate of 7.8% (revised data).

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