Urban planning

Prices of new-build homes in Athens beat all-time highs of 2008

The prices of newly built houses in the high-demand districts of Athens have now risen above the all-time record set in 2008.

In the southern suburbs the prices of new constructions are 30% higher compared to 2008, while in the center of Athens and in the northern suburbs the increase amounts to 20% over 2008 prices.

The unknown slum of Ilisia

In the 1940s, one bank of the Ilisos River in Athens was a large slum, with shacks set up there by refugees who arrived after the 1922 Asia Minor Catastrophe. Alexander Tzonis, an architect and professor emeritus of the Delft University of Technology who grew up nearby, was deeply fascinated with the ingenuity of the community and sought to immortalize it in photos.

New objective values already outdated

The spread between the taxable rates of properties, known as "objective values," and market prices is widening again, just two years after the last adjustment of the former, which started applying from January 2022.

This development is recorded mainly in the expensive areas of the center of Athens and the southern and northern suburbs of the capital.

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