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Most Greeks Cannot Afford New Housing

From 2017 to 2022, the prices on apartments in new buildings in Greece increased by 75.5%.

The acquisition of a new house is turning into an impossible dream for the vast majority of Greeks. The main reason is the jump in selling prices associated with rising construction costs, as well as higher land rates and higher energy efficiency standards, which all new properties must now meet.

According to an up-to-date analysis by the company of certified appraisers Geoaxis Property & Valuation Services, during the recovery of the housing market from the lowest point from 2017 to 2022, prices for apartments in new buildings increased by 75.5%, as in the case of the Athens suburb of Marousi.

The average offer price for a new building in the northern suburbs of the capital, which are also the most in-demand, ranges around €3,500-4,500 per square meter in objects under construction, while transactions are made just below this level. However, five years ago the average asking rate did not exceed €2,000-2,500 per sq.m.

Of course, in 2018 there were fewer new buildings than today, due to the financial crisis, and consumer interest was not as high as it is now, including from foreign buyers.

Propreties for sale in Greece:
Apartment for 180 000 euro in Thessaloniki, Greece
180 000 €
Apartment in Thessaloniki, Greece
57 m²
Rental property
Greece. For Sale - New apartment of 57 m2 in Thessaloniki 180,000 € Nthepo (Vulgari - Nthepo - Martiou) Object code 59883 Area 57 m2 Number of floors in the building 4 Floor 3 Year of construction 2025 Distance from the sea 1000 m Distance to the airport 10 km Number of rooms 2 Heating Elevator Double glazing Energy class (98-100)A+ Apartment...
Europe Gmbh
Cottage for 60 000 euro in Paralia, Greece
60 000 €
Cottage in Paralia, Greece
130 m²
Residence
Greece. Korinos. 130 m² cottage for renovation on the Olympic Riviera. Pieria Prefecture. Korinos. €60,000 €462/m² • Property ID: 65999 • Area: 130 m² • Plot area: 600 m² • Number of rooms: 4 • Year built: 1958 • Beach: Sandy beach • Number of rooms: 4 •...
Europe Gmbh
Villa for 900 000 euro on Corfu, Greece
900 000 €
Villa on Corfu, Greece
186 m² 4 4 5
Online Viewing Remote Transaction Rental property
Stone villa with panoramic sea views in Kassiopi. - Open-plan living room, kitchen and dining room with large balcony doors - 4 spacious bedrooms, all with en-suite bathrooms and direct access to the terrace - Infinity pool with spectacular views of the Ionian Sea The villa is ideally located near Kassiopi Harbor and Awlaki Beach, where...
HELLAS CONSULT SOLUTIONS
Villa for 3 500 000 euro in Peloponnese, Greece
3 500 000 €
Villa in Peloponnese, Greece
500 m² 5 5
Residence
A new complex of villas on the coast occupies almost 130 hectares of land in one of the most famous resorts in Greece. The owners of the residences have access to all the services of the 5* hotel located on the territory of the complex, including: two golf courses, a children's playground, a spa complex with an area of 4000 sq. m, more than 20...
NF Group
Flat for 75 000 euro in Thessaloniki, Greece
75 000 €
Flat in Thessaloniki, Greece
37 m²
Residence
Greece. Newly renovated 37 m² apartment in Thessaloniki. €75,000 €2,027/m² • Property ID: 66950 • Area: 37 m² • Region: Thessaloniki • Location: Agioi Theodoroi (Sykies) • Number of rooms: 1 • Building floors: 4 • Year built: 1970 • Bathrooms: 1 •...
Europe Gmbh
Flat for 280 000 euro in Thessaloniki, Greece
280 000 €
Flat in Thessaloniki, Greece
39 m² 2 1 1
Residence Online Viewing Remote Transaction
THERMAE VIEW RESIDENCES - apartments near the Thessaloniki embankment with the possibility of obtaining a Golden Visa from €250,000 New residential project in the prestigious area of Analepsi, in the eastern part of Thessaloniki, just 300 meters from the famous promenade of Nea Paralia and the Thermal Gulf. The project is located at Nikolaou...
Invest Cafe
House for 35 200 euro in Thessaloniki, Greece
35 200 €
House in Thessaloniki, Greece
42 m²
Residence
Greece. Thessaloniki. New Home. For Sale - 42 m² Cottage in the Suburbs of Thessaloniki Greece, Thessaloniki, Thermia Suburbs, Macedonia Airport Area €35,200 €838/m² • Property ID: 6 1909 • Area: 42 m² • Location: Macedonia Airport Area (Thermia) | Thessaloniki Suburbs (Thessaloniki) • Number of...
Europe Gmbh
Cottage for 89 000 euro in Olympiaki Akti, Greece
89 000 €
Cottage in Olympiaki Akti, Greece
140 m²
Residence
Greece. Katerini. Korinos. Sevasti. New unfinished 140 m² cottage on the Olympic Riviera. For Sale - 140 m² Cottage on the Olympic Riviera €89,000 €636/m² • Property ID 7350 • Area 140 m² • Plot size 1000 m² • Location Sevasti (Korinos) | Pieria Prefecture (Macedonia) •...
Europe Gmbh
Villa for 380 000 euro in Sani, Greece
380 000 €
Villa in Sani, Greece
100 m² 3
Residence
The villa is located in a place called Sani in Kassandra, Halkidiki, in one of the most beautiful parts of the prefecture, very close to the sea in a green environment. On the first level of the villa there is a large bedroom and a bathroom, on the second level there is a living room and a kitchen in a large open space. On the third level there...
NF Group
Villa for 2 800 000 euro on Mikonos, Greece
2 800 000 €
Villa on Mikonos, Greece
590 m² 14 13 14
Residence
The complex consists of 4 villas and a studio, fully furnished, 300 meters from the sea. Each villa includes 3-4 bedrooms, 3 bathrooms, an open plan kitchen located on the ground floor and a living room combined with a second kitchen on the second floor. Each property includes a spacious front and rear yard, verandas, BBQ area and parking...
NF Group
Villa for 1 500 000 euro on Santorini, Greece
1 500 000 €
Villa on Santorini, Greece
90 m² 1 1 1
Residence
Luxury One-Bedroom Villa for Sale in Santorini Eligible for Greek Golden Visa (€800,000 category) An exceptional luxury one-bedroom villa located in the breathtaking caldera of Imerovigli, Santorini. Positioned in one of the most prestigious areas of the island, the property offers unobstructed sunset and Aegean Sea views, combining...
GLYFADA GOLF PROPERTIES IKE
Cottage for 35 000 euro in Agios Nikolaos, Greece
35 000 €
Cottage in Agios Nikolaos, Greece
52 m²
Residence
Greece. Agios Nikolaos. 52 m² cottage on Crete. Lasithi Prefecture. Agios Nikolaos. Raskol. €35,000 €673/m² • Property ID 60635 • Area 52 m² • Location: Raskol (Agios Nikolaos) | Lasithi Prefecture (Crete) • Number of rooms: 2 • Beach: Pebble beach, Sandy beach • Number of...
Europe Gmbh
House for 650 000 euro in Chalkidiki, Greece
650 000 €
House in Chalkidiki, Greece
155 m² 3 3 2
Online Viewing Remote Transaction Rental property
A complex of 9 separate townhouses with private pools. Each: 3 floors, 3 bedrooms, one of which has a separate bathroom, living room-kitchen, 2 bathrooms. On the ground floor there is parking for 2 cars, there is an external storage room. The management company rents out townhouses for long-term rent. An ideal opportunity to obtain a...
HELLAS CONSULT SOLUTIONS
Apartment for 500 000 euro in Thessaloniki, Greece
500 000 €
Apartment in Thessaloniki, Greece
115 m²
Residence Rental property
Greece. For sale is a new apartment of 115 m2 in Thessaloniki in the city center. 500 000 € Object code 63332 Area 115 m2 Location Agia Sofia (Thessaloniki city center) | Thessaloniki - Municipality (Thessaloniki) Number of rooms 4 Number of floors in the building: 8 Floor: 8 Renovation year: 2025 Number of rooms: 4 Heating type: gas Energy...
Europe Gmbh
Cottage for 330 000 euro on Corfu, Greece
330 000 €
Cottage on Corfu, Greece
75 m²
Residence
Greece. 75 m² cottage on the island of Corfu. Corfu Town. €330,000 €4,400/m² • Property ID: 67012 • Area: 75 m² • Plot size: 450 m² • Year of renovation: 2026 • Condition: Under construction • Distance to the sea: 3,000 m • Distance to the airport: 6 km •...
Europe Gmbh
Apartment for 159 000 euro in Thessaloniki, Greece
159 000 €
Apartment in Thessaloniki, Greece
76 m²
Rental property
Greece. For sale - 76 m2 Apartment in Thessaloniki 159,000 € Malakopi (Tumpa) Object code 61894 Area 76 m2 Floor 2 Year of construction 1978 Year of renovation 2024 Distance from the sea 3000 m Number of rooms 3 Type of heating gas Elevator Double glazing Apartment for sale with an area of 76 sq.m in Thessaloniki. The apartment is located on the...
Europe Gmbh
Villa for 520 000 euro in Anavisos, Greece
520 000 €
Villa in Anavisos, Greece
436 m²
Residence
Greece. Villa 436 m² in Attica. Greece Attica Rest of Attica Anavyssos Center "Anavyssos" €520,000 €1,193/m² • Property ID 29748 • Area 436 m² • Plot area 600 m² • Region Attica • Location Anavyssos Center (Anavyssos) • Number of rooms: 6 • Number of...
Europe Gmbh
Villa for 11 500 000 euro in Greece
11 500 000 €
Villa in Greece
687 m² 10 9 10
Residence
Discover an ultra-exclusive sanctuary on the sun-drenched shores of South Evia. Diamond Villas redefine Mediterranean luxury, pairing a rare 0-meter beachfront position with uncompromising architectural scale. Set within a private estate format, each residence spans 687 sq.m. of exquisite interior living, complemented by a 225 sq.m. panoramic...
Maija Software
Apartment for 250 000 euro in Pireas, Greece
250 000 €
Apartment in Pireas, Greece
30 m²
Living by the sea on the Athenian Riviera Etolikou Seaside Residential Complex is located in one of the most prestigious coastal areas of the Athenian Riviera, offering breathtaking panoramic sea views and an exceptional coastal atmosphere. The project is located a few steps from the water, in a truly unique location where tranquility is...
Nevestate
Cottage for 460 000 euro in Agios Nikolaos, Greece
460 000 €
Cottage in Agios Nikolaos, Greece
115 m²
Residence
Greece. 115 m² cottage in the Peloponnese. Greece, Peloponnese, Messinia, Lefktos, Stoupa €460,000 €4,000/m² • Property ID: 64438 • Area: 115 m² • Region: Peloponnese • Location: Stoupa (Lefktos) | Messinia (Peloponnese) • Number of rooms: 6 Details • Year built: 2003...
Europe Gmbh

Source: Ekathimerini
Photo by Sonya Brady on Unsplash

Quoting conditions of Prianproperty.com materials

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