Athens apartment prices up 2 pct in Q1

The Athens housing market remains under the strong influence of short-term rentals, as 70 percent of buying interest in small residential units concerns properties destined to be upgraded and leased through websites such as Airbnb and HomeAway. As a result property prices posted mild growth in the first quarter of 2019, according to an analysis by Geoaxis chartered surveyors.

The survey of sale prices in Attica identified a 2 percent annual increase in expected sale prices in January-March, compared to the same period last year. The increase in the price of new apartments (those up to seven years old) came to 2.4 percent, while older properties built at least 15 years ago saw a smaller rise of 2.2 percent.

The Geoaxis analysis focused mainly on five districts in the capital that reflect the picture of the entire market. In the case of new apartments, the biggest hike...