The market for newly built real estate In Greece it continues its upward trend, now surpassing a critical psychological and economic milestone as the waist price An over 3,000 euros in newly built real estate up to five years, according to Re/Max Greece data.
This rise captures a wider market momentum, with prices rising by 6.1% annually for newly built and 6.8% for older real estate, as demand remains strong and supply is limited.
Attica continues to lead, with the average price in the newly built reaching 3,706 euros per sqm, increasing 6% compared to 2023. In downtown Athens the average price in the newly built is 3,633 euros per sqm, while in areas such as Kypseli and the Painter.
In the northern suburbs, the price in the newly built reaches 4,691 euros per sq.m. With a rise of 6.6%, while in the southern suburbs the average price of EUR 4,550 per sqm, recording an increase of 6.9%. Particularly intense is mobility in areas such as Alimos and Kallithea. In the western suburbs, where accessibility remains a strong advantage, the average price in the newly built increased by 7.9% reaching EUR 2,887 per sq.m. In Piraeus and neighboring areas, the price in the newly built is 3,476 euros per sqm, increased by 5.2%. In the rest of Attica, the average price in the newly built stood at € 3,000 with a more respected increase of 3.4%.
In Thessaloniki, the average price of newly built real estate is EUR 2,597 per sqm, increasing 6.1% on an annual basis. In the center of the city, the newly built reaches 3,635 euros per sqm, while the largest increases are found in Faliro. In the eastern suburbs, such as Kalamaria and Karambournaki, the average price reaches 2,736 euros per sq.m. with an increase of 7.1%. In northern Thessaloniki the average price in the newly built 2,000 euros per sq.m. With an increase of 8.1%, while to the west the highest rise, 8%, led the average price to 2,016 euros per sq.m.
In the rest of Greece, the average price in the newly built real estate stood at EUR 2,723 per sqm, increased by 6.3%. Interest in investment is no longer limited to large urban centers or popular tourist destinations, but extends to new, less prominent areas of the country. Infrastructure upgrading, growth prospects and investment incentives, such as Golden Visa, reinforce the dynamics of real estate, with the market attracting both Greek and foreign buyers who see a fixed capital shelter.
This performance of the newly built confirms that construction activity and demand remain alive, despite the high cost of building materials and the increasing difficulty of finding available plots, especially in large urban centers. At the same time, the demand for modern high energy efficiency constructions and with quality characteristics continues to supply this category.
The prices of the newly built may have exceeded the barrier of 3,000 euros per sqm, but the trend shows that even this level is no longer a deterrent, as market interest – and especially investors – remains strong.