Property market gap widens

Three years have passed since the last setting of properties' taxable rates (known as objective values) and already in some districts of the capital, but also in areas popular with tourists, the difference with the commercial sales prices is chaotic.

That is according to data from the Property Transfer Register, with sales in the first five months of the year topping 85,000 and 2024 set for record sales (178,000 in 2023). Despite the increase in prices nationwide, demand is holding up well, with the gap between objective and commercial values having opened considerably. Whether it is parking spaces, apartments or commercial premises, contract prices are moving significantly above the zone prices set in June 2021.

The biggest differences are found mainly in the popular areas of the center of Athens and the southern and northern suburbs of the capital. For example, a...