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 January to September for 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.

Decrease in the number of sales

The first nine months of 2022 are characterized by a drop in the number of sales in the majority of the areas. Exceptions are the areas of the Municipality of Athens and West Attica, where the number of sales remained at the same level (1-2%), while the Argosaronic islands saw an increase (17%).

In most areas of Attica, there is a noticeable drop in the number of sales. In all the areas of the Southern Suburbs, for example, sales have decreased by 15%. The decrease is more pronounced in the Northern Suburbs, where it reached -30%, in East Attica (-34%) and in the Western Suburbs (-21%). Similar rates of variation are also found in Piraeus (-33%) and its suburbs (-25%). Regarding the areas included in the Municipality of Athens and in West Attica, the number of sales did not decrease but remained stagnant.

Main characteristics of the average property

Increase of the average value per T.M.

In contrast to the number of sales, the average price per square metre increased in almost all the areas surveyed. However, what should be pointed out is that the large differences, relate to the increase in property values that was applied and consequently led to the increase in value per square metre in the areas where it was applied. The largest increase was recorded in the centre of Piraeus (38%) and its suburbs (27%). The average value per sq.m. increased by 8% in the Municipality of Athens and 3% in the Southern Suburbs. Significant increases were recorded in the areas of Agios Dimitrios (44%) and Paleo Faliro (35%). In the Northern Suburbs, this rate reached 18% with the highest recorded increase in the area of Ag. Paraskevi (42%). Similarly, the Western Suburbs recorded an overall 20% increase, while Haidari recorded an impressive increase (52%). The areas included in East and West Attica did not show major changes (3% and -3% respectively).

A small conversion in the surface area of the average property

In the areas of the Municipality of Athens, the area of the average property increased by 3% (67 sq.m.). In the Southern Suburbs, there is no major deviation compared to the first nine months of 2021. The exception is the area of Palaio Faliro, where the percentage of the average house area increased by 6 sq.m. (2022 – 91 sq.m.). As for the Northern Suburbs, specifically in Kifissia, the area increased by 44 sq.m. (2022 – 182 sq.m.), and in the area of Papagos – Cholargos by 21 sq.m. (2022 – 112 sq.m.). In Chalandri the percentage decreased by 15 sq.m. (2022 – 15 sq.m.). In all the areas of East Attica, there was no major change. However, in the Municipality of Vari – Voula – Vouliagmeni the average property area decreased by 13 sq.m. (2022 – 108 sq.m.). Among the areas of West Attica, the largest decrease was found in Elefsina 20 sq.m. (2022 – 72 sq.m.), and the largest increase in the area of Mandra – Idyllia 12 sq.m.(2022 – 83 sq.m.). As for Piraeus, a significant change in the area of the average dwelling was recorded by 23 sq.m. (2022 – 67 sq.m.), while the corresponding percentage in its suburbs remained almost stagnant (-1%, 2022 – 69 sq.m.).

Year of Construction

Regarding the year of construction of the properties for sale, on average the oldest properties are located in the centre of Athens (1971) and in some suburban areas such as Zografou (1973), Kallithea (1976), Aigaleo and Ilion (1980). The areas where there is a greater tendency for newer properties to be sold compared to 2021 are Agios Dimitrios (+6 years), Daphne and Ymmitos (+5 years), Penteli (+5 years), Philadelphia and Chalkidona (+6 years), Egaleo (+4 years) and several areas in East Attica (Lavreotiki, Marathonas, Spata and Artemida).

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