Real estate prices reaching record highs

The rate of house price growth is continuously exceeding record highs, according to data compiled by the Bank of Greece for the first quarter of this year. Indicatively, prices rose 14.5% year-on-year in Greece as a whole, with even higher increases in the two biggest urban centers, reaching 16.5% in Attica and 16.1% in Thessaloniki.

Similarly, prices in other large cities increased by 13.1%, while those in other regions of the country also leaped by 13.1%.

The surge in prices in Attica is such that for the second consecutive quarter the historical high for annual price change was exceeded. More specifically, in the fourth quarter of 2022, the annual price rise had reached 15.2%, being the highest performance in decades. Similarly, in Thessaloniki the increase had reached 14.5% in the last three months of 2022.

In Attica, prices have rocketed to the tune of 68%...