Currently, the average asking rental price in the territory has been set at 6.8 €/sq.m. while the average asking sales price is locked at 1,244.2 €/sq.m. Based on the SPI, the largest annual increase in asking rental prices is in Lesvos (25%), while the largest increase in asking sales prices is in Grevena (24%). On the contrary, a large decrease in the asking prices for house rentals is observed in Ilia (-18.2%), while the largest decrease in asking prices for houses for sale is observed in Sporades (-10.3%).
The Spitogatos Property Index (SPI) one year after the first lockdown and the emergence of the pandemic indicates the areas where the largest increases and decreases in asking prices occurred, as well as how the market for rental and sale of homes is shaping up across Greece, based on the ad data of Spitogatos (www.spitogatos.gr), No.1 real estate ad website in Greece.
More specifically, in Attica:
– A small decrease was noted in the asking prices for residential sales in central Athens of 0.7%, while a decrease of -7% was observed in the asking rental prices.
– Rental asking prices in the Western Suburbs of Athens increased by 12.7%, while asking sales prices increased by 6.3%.
– The Northern Suburbs of Athens recorded a similar increase in asking rental and sales prices of 6.1% and 6.4% respectively.
– In the Southern Suburbs of Athens, there was a 5.1% increase in residential asking prices, while there was a -5.7% decrease in rental asking prices.
– An increase of just over 4% was recorded in the Eastern Suburbs of Athens, with an increase of 4.2% in asking sales prices (4.2%) and rental prices (4.1%).
· In the Argosaronic islands we have a significant increase of 24.4% in the asking rental prices and a -9.1% decrease in the asking sales prices.
· An increase in the asking prices for renting (6.8%) and selling (2.3%) houses was recorded in the rest of the regions of Attica.
· In Piraeus, the asking prices of sales increased by 3.7% while the asking prices of rental houses decreased by -3.5%. In the suburbs of Piraeus, there was a 10.2% increase in asking rental prices and a 9.7% increase in asking house sales prices.
Finally, in Thessaloniki:
· In the Municipality of Thessaloniki, asking sales prices increased by 4.4% while rental prices decreased by 2.9%.
· A similar increase was recorded in the requested sales (5%) and rental (5.6%) prices in the Regional Municipalities of Thessaloniki.
· In the rest of the prefecture, there was a slight decrease in the asking prices by 1.2%.
The tables below provide detailed data on the change in asking prices in Attica and Thessaloniki, identifying the largest decreases and increases in specific areas of the respective prefectures.
The CEO of Spitogatos, Dimitris Melachrinos, notes: “The pandemic may have brought unprecedented changes to the country’s economy, however the conclusions drawn from the trends in real estate prices, from the first lockdown until today, is that the real estate market estate remains dynamic and competitive. Based on the data we collected from our platform, asking prices for sale and rent increased in many areas of the territory, so it begs the question how this picture will shape up when we get back to normal and the economy recovers. Pending developments, we will continue to evaluate the statistics we collect through our network in order to further contribute to market mapping.”