The latest property-related news with Athens prominently figured comes in the first days of 2024, with Knight Frank listing the Greek capital in fifth place internationally in terms of higher prices, out of 107 major cities surveyed around the world.
Specifically, residential prices in Athens were up by 2.4% in the third quarter of 2023 compared with the same quarter in 2022, according to the company.
On an annual basis, the increase for Athens stood at a noteworthy 12%, a figure that pales, however, when compared with hikes of 102.7% for Ankara and 77.6% for Istanbul. The latter two cities in Turkey were number one and two on the relevant list, owing to skyrocketing home prices due to often runaway inflation and continuing lira-dollar depreciation in that country.
Dubai is in third place, with prices up by 18% on an annual basis in 2023, followed by Zagreb, Croatia in fourth place.
For Knight Frank, the pace of a real estate sector recovery will ease in 2024, as despite forecasts for interest rate cuts by central banks mortgage costs will remain significantly higher than pre-pandemic levels.
Source: tovima.com
Latest News
Real Estate Insights: Athens’ Top Areas with the Highest Yields
In the first quarter of 2024, Korydallos in the Piraeus region and the burgeoning Attiki Square retain their top spots with impressive yields of 6.3%
ELSTAT: Inflation at 3.1% in April
Olive oil (63.7%), fruit (11.6%), fish (10.6%), and mineral water (12.5%) registered the highest increases annually
Greek Sunlight CEO Joins Industry Titans at Choose France Summit
At the heart of the "Choose France Summit" was the discussion surrounding the production of lead-acid and lithium-ion batteries, crucial for the green transition and storage of renewable energy.
Insights into Greece’s Real Estate Landscape; Consumer Expectations and Challenges
The study indicates that while 66% of Greeks find recent real estate price hikes concerning and liken them to a "bubble," over half (56%) still anticipate further increases.
Athens in Top 10 Best Value City Breaks
Every year, Post Office Travel Money compares the costs of short breaks in cities across Europe for UK holidaymakers
Athens Int’l Airport: Americans Lead Total Passenger Traffic in Q1
According to the data processed by AIA, the top 10 in foreign arrivals are dominated by Americans, followed by the British and Germans. Other top nationalities include Cypriots, Italians, French, Dutch, Israelis, Poles, and Turks.
Greek PM Mitsotakis and Turkish President Erdogan Meet in Ankara Today
No major developments are expected, as the key aim of the meetings between the two leaders is to maintain positive diplomatic relations, but Greece is always vigilant for any surprises from the Turkish leader.
New Athens Metro Line Hopes to Alleviate Heavy City Traffic
The massive project is expected to be completed in 2029
National Intelligence Agency DG to Accompany Greek PM to Ankara
Prime Minister Mitsotakis also gave an interview to Turkish newspaper Milliyet regarding his upcoming visit
Draft Bill Eyes Detection of Uninsured, Poorly-Maintained Vehicles in Greece
According to reports, at least half a million vehicles in Greece are uninsured, while the number of those without inspections is unknown