Apartment prices rose by 8.7% in 2024, compared to 13.9% in 2023, according to data from the Bank of Greece.

Specifically, according to the BoG’s announcement, the annual rate of apartment price change nationwide stood at 6.6% in Q4 2024. Based on property age, new apartment prices increased by 9.1%, while older apartments rose by 4.9%.

More specifically, preliminary BoG data estimates that in Q4 2024, apartment prices (in nominal terms) increased by 6.6% on average compared to the same quarter in 2023.

The price increase in Q4 2024 compared to Q4 2023 was 9.1% for new apartments (up to 5 years old) and 4.9% for older apartments (over 5 years old).

For the whole of 2024, the average annual price increase for new apartments was 10.1% (compared to 12.9% in 2023), while older apartments saw a 7.8% increase (compared to 14.5% in 2023).

BoG: Double-Digit Increase in New Apartment Prices in 2024
A regional analysis of the data shows that in Q4 2024, compared to Q4 2023, apartment prices increased by 6.2% in Athens, 8.2% in Thessaloniki, 4.6% in other major cities, and 8.7% in the rest of the country.

For the entire year 2024, price increases in these regions compared to 2023 were 8.2% in Athens, 11.2% in Thessaloniki, 7.1% in other major cities, and 10.6% in the rest of the country.

Finally, for all urban areas nationwide, Q4 2024 apartment prices increased by 5.9% on average compared to Q4 2023, while the annual average increase for 2024 was 8.4%.