The Housing Market Observatory TOPO GES IKE publishes the following survey focusing on the market and consumer behaviour regarding the purchase and sale of residential properties in Attica. The survey covers the years 2021 and 2022. The survey data has been collected from the Real Estate Transfer Values Register, a digital tool of the General Secretariat for Information Systems.

Changes in the number of purchases and sales

It is clear that 2022 is characterized by fluctuations in the number and increases in the value of purchases. As the table below shows, the highest rates of increase in the number of sales are recorded in the areas of the Municipality of Athens (22%) and the Cycladic islands (21%). Increases are also recorded in the islands of the Argosaronic (15%), in the areas of West Attica (11%) and a milder increase in the areas of South Suburbs (4%).

However, it is difficult to ignore the areas where the number of sales reduced. Specifically, we observe a drop in the North (-8%) and West Suburbs (-6%), in East Attica (-15%), as well as in Piraeus (-12%) and its suburbs (-3%).

Nevertheless, as the table shows, the total value of market sales recorded positive percentages in the majority of the areas examined by this survey.

Main characteristics of average property sold in 2022

The average property sold in 2022 in the Municipality of Athens was 53 years old and had an area of 69 sq.m. The average value in the area rose to 1,387 € per sq.m. and 96,271 € in total. In the areas of South Suburbs, the average age of the average property was 42 years and an area of 76 sq.m. The average value per sq.m. was 1,496 € and 113,306 € in total. As for the Northern Suburbs, the age of the average property was 38 years and its area was 101 sq.m. The average value of the average property in the Northern Suburbs was 1,705 € per sq.m. and 171,849 € in total. In the Western Suburbs the average property was 42 years old and had an area of 74 sq.m., the average value per sqm increased to €835 and a total of €61,926. In 2022 in East Attica, the average age of the average property was 31 years and 99 sq.m. The average value was 1.461 € per sq.m. and 145.086 € in total. In Piraeus, the average property was 45 years old and 72 sq.m. The average value per sqm increased to 1,008 € and a total of 72,443 €.

Average Value per sq.m.

The largest increase was recorded in the centre of Piraeus (34%) and in the Northern Suburbs (25%). A slightly lower increase was recorded in the Western Suburbs (21%) and in the suburbs of Piraeus (20%). The percentage increased by 13% in the Municipality of Athens.

Among the most significant increases were found in the area of Ag. Dimitrios (50%) and Paleo Faliro (41%) of the Southern Suburbs.

Among the areas of the Northern Suburbs, the average value per sqm in Ag. Paraskevi increased by 48%, in Vrilissia by 64% and in Filothei-Psychiko by 50%. This rate recorded the biggest drop in the area of Mandra-Eidyllia (-25%).

Changes in the average property surface area

In the areas of the Municipality of Athens, the area of the average dwelling in 2022 changed to a large extent compared to the previous year (4 sq.m.). One of the largest fluctuations occurred in Glyfada, where buyers invested in houses smaller by 12 sq.m.

Similarly, in the Northern Suburbs, Pefki and Maroussi, the average property area decreased by 16 sq.m. and 20 sq.m., while it increased in Kifissia (21 sq.m.) and Filothei-Psychiko (30 sq.m.). At the same time, an increase was also recorded in the area of Acharnon (22 sq.m.) and Rafina (22 sq.m.) and Dionysos (16 sq.m.). However, a decrease of more than 10 sq.m. was observed in the areas of Vari-Voula-Vouliagmeni (17 sq.m.), Markopoulou (12 sq.m.) and Piraeus centre (13 sq.m.).

Year of construction

In the majority of the regions, the variation in the difference in the age of the properties ranges from 0-5 years.

In Agios Dimitrios, the age of the 2022 properties sold decreased by 6 years compared to those sold in 2021. Newer properties were also preferred in the areas of Lavreotiki (7 years), Megara (10 years), Penteli (4 years) and Chalkidona (4 years).

At the same time, older properties were sold in the following areas: Lykovrisi-Pefki (5 years), Filothei – Psychiko (5 years), Metamorfosi (6 years), Markopoulo (6 years), Pallini (7 years), Elefsina (9 years).

Πίνακας 2. Κύρια χαρακτηριστικά μέσου ακινήτου που πωλήθηκε

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