The cheapest and the most expensive areas in Athens for sale & rent

The asking prices for the sale and rental of real estate recorded a sharp upward trend in the first quarter of the year.

According to the latest data from Spitogatos, the areas of the basin where the largest increases in the average asking price during the first quarter of 2022 compared to the same period last year are Neo Faliro (27.6%), the area of Kaminia-Palea Kokkinia (18.2%), Ilisia (16.9%) and the areas of Vrilissia (16.6%) and Sepolia-Skouse Hollow (16%).

The areas with the highest increase in average asking rent are again located outside urban centres, underlining the trend of decentralisation observed in recent years due to the pandemic. Typically, the largest increase in average asking price is found in Acharnes (17.8%), Filothei (17.7%), Neo Psychiko (16.9%), Nea Makri (16.8%) and Artemida (16.5%).

As for the decreases in the average asking price, these are recorded in areas of Piraeus such as Perama (-8.5%) and East Attica such as Peania (-3.6%). Similarly, the largest decreases in the average asking price are found in Koropi (-4.3%) and Attica (-3%).

During January-February-March 2022, the southern suburbs recorded a 10% price increase with the average price for houses for sale reaching 2,977 euros per square meter.

Property prices in Piraeus recorded an increase of 11.10%, reaching 1,667 euros per square metre.

Noteworthy is the 7% increase in property prices in the northern suburbs of Attica, where in the first quarter of the year (compared to the corresponding quarter of 2021), residential sales prices rose to 2,542 euros per square meter from 2,375 euros per square meter last year. 

Residential sales prices in the western suburbs also increased by 7.10%, with prices climbing to 1,472 euros per square from 1,375 euros per square last year in the same period. 

Property prices rose 7.10% in the period January-February-March 2022, in the center of Athens, where according to market experts remains one of the most popular choices for prospective buyers. 

Residential sales prices in the center of Athens reached 1,667 euros per square meter, up from 1,556 euros per square meter last year in the same quarter.

In the prefecture of Thessaloniki, prices recorded an increase of 9.5%, with the price per square meter reaching 1,676 euros from 1,531 euros per square meter in the previous period. 

As for rentals, the champion of increases in the first quarter of 2022, with an increase of 17.20% and prices standing at 7.50 euros per square meter, are the eastern suburbs.

Increases of 13.6% recorded property prices in the southern suburbs and are formed at 10 euros per square.

Rental prices in the southern suburbs recorded a smaller increase (3.90%), with the price per square metre standing at 10.39 euros per square metre.

The most expensive and cheapest areas to buy and rent a home in Athens

The most expensive areas for buying and renting a home in Athens during the first quarter of 2022 are mainly located in the Southern Suburbs and in parts of central Athens, which are popular for renting and selling.

Specifically, the most expensive areas to buy a house in the basin are, among others, Vouliagmeni with 5,445 euros per square meter and Voula with 4. 000 euros per square meter, the area of Kolonaki and Lycabettus with 3,979 euros per square meter, Filothei with 3,846 euros per square meter, Glyfada with 3,750 euros per square meter, Paleo Psychiko with 3,750 euros per square meter, Alimos with 3.735 euro/sq.m. and Elliniko with 3.594 euro/sq.m.

The cheapest areas for buying a house in the first quarter of 2022 are Agia Varvara with 1,036 euros per square metre, Keratsini with 1,089 euros per square metre and the area of Tabouria-Agia Sophia in Piraeus with 1,090 euros per square metre. This is followed by Patissia and Kaminia-Palaia Kokkinia with 1,140 and 1,182 euros per square metre. 

In terms of renting a house, the historic centre, Vouliagmeni, the area of Kolonaki and Lycabettus, Paleo Psychiko, Neo Psychiko and Filothei are among the most expensive areas of Attica, while the list of areas with the most expensive rents includes Elliniko.

Interestingly, one can rent a house for the same price in Nea Makri and Nikaia.

Source: capital.gr