Rise of Athens luxury homes

The prices of luxury homes in Athens saw the fourth largest increase among 30 cities worldwide during the first half of this year, per a survey by Savills, a British real estate consulting company.

The rate of increase was 3.5% and was only behind Lisbon, Amsterdam and Madrid. On average, the prices of luxury homes in all 30 cities examined did not exceed 0.8%, a sign of the strong momentum developed both in the Athens market and in other cities in Southern Europe.

In addition to sales prices, a significant increase was also recorded in rental rates in the year's first half. At the top of the cities with the biggest increases is Lisbon again with an increase of 7.5%, followed by Dubai and Bangkok. In Athens, the rental prices of luxury homes increased by 4.6%. Across the 30 cities in Savills' price index, rental rates saw an average rise of 2.2%.

According to...