Property Prices in Athens Surging

Potential buyers are finding it increasingly difficult to acquire a newly built property located in popular areas in Athens due to soaring prices, according to Geoaxis Property & Valuations Services.

The analysis indicates that in Q3 of 2025, costs continued to rise in areas such as Ampelokipoi, Palaio Faliro, Peristeri, and Cholargos, with an increased trajectory compared to the same period last year.

For newly built apartments, prices recorded an annual increase of 6.07%, while resale properties rose by 6.65%. However, during the same period last year, the annual change in new housing prices was 8.5% (and 15.11% over the 2023–2025 two-year period), while the increase for resale properties was 7.8% (and 15% over two years).

According to data from Geoaxis, residential property prices have surged dramatically over the past decade. Between 2016 and 2025, the average price of newly built homes in the areas the firm monitors has almost doubled, up by 100%.

The rise of the hybrid work model, where employees work from home 1–2 days a week, is influencing the real estate market.

Among the regions surveyed, Marousi saw the largest increase in new construction prices, 109%, with the average price per square meter rising from €1,833/sq.m. in 2016 to €3,825/sq.m. in Q3 2025.

This means that a 100 sq m. new apartment that cost €180,000–€200,000 in 2016 now costs €380,000. This sharp rise reflects not only soaring construction costs but also rising land prices in one of the most sought-after northern suburbs of Athens.

Significant increases in new home prices have also been recorded in:
Palaio Faliro: +104%, Peristeri: +101%, Ampelokipoi: +99%.

During the last year specifically, Palaio Faliro saw the biggest annual increase, up 8% to €4,013/sq.m, with the most expensive area being Cholargos, with an average price of €4,443/sq.m (+4.12%).

These figures underscore the continued upward trajectory of housing prices in Athens, driven by construction costs, land scarcity, and changing work patterns.

Source: tovima.com