Over 7% increase in apartment prices in Greece in 2021
In 2021 the annual rate of change of youth prices apartments in Greece it stood at 7.4% and the old apartments at 6.9%.
According to the Bank of Greece, based on data collected from credit institutions, it is estimated that in the fourth quarter of 2021 the prices of apartments (in nominal terms) were on average increased by 9.1% compared to the corresponding quarter . for 2020, while for 2021 apartment prices increased at an average rate of 7.1%, compared to an increase of 4.5% by 2020.
More detail, the rise in prices in the fourth quarter of 2021 compared to the corresponding quarter of 2020 was 9.8% for the new apartments, ie age up to 5 years, and 8.6% for the old, ie age over 5 years.
For 2021, the average annual price growth rate for new apartments was 7.4%, compared to a 4.9% increase by 2020, while the average annual growth rate for old apartments was 6.9% by 2021, against an increase of 4.2% in 2020.
The analysis of data by geographical area shows that the increase in apartment prices in the fourth quarter of 2021 compared to the corresponding quarter of 2020 was 10.5% in Athens, 8.3% in Thessaloniki and other major cities and 7 , 1% in other parts of the country.
For the whole of 2021, the increase in prices in the same areas compared to 2020 was 9.1%6.9%, 5.4% and 4.6% respectively.
Finally, for all urban areas of the country, in the fourth quarter of 2021 apartment prices increased by 9.7% compared to the fourth quarter of 2020, while for 2021 the average increase was 7.5%.