The real estate market overview - Data

The picture of the Greek real estate market is indicative of a deep structural imbalance between supply, quality, and actual demand. Let's take a closer look at the key points:

General Market Overview

• Advertisements for sale: ~131,000 properties

• Rental listings: ~45,000 properties

• Duration of stay in ads: 6 months to 2 years

• Actual transfers (2024): 28,700

• Total value of transfers: €3 billion

Values and Reality

Category	Average Price	Price per square meter
Wanted (ads)	€387,000	2.756 €/τ.μ.
Actual (transfers)	105,000	1.329 €/τ.μ.

• Deviation: The requested prices are more than double the actual transfer prices.

• Comment: The market is not functioning rationally, with owners asking for prices that do not reflect reality.

Newly Built Properties (2020–2025)

• Expensive and for the few: Prices from €4,000/sq. m. and above

• Main areas with new buildings:

  • Glyfada: 1,392 residences, €6,398/sq. m., 146 sq. m.

  • Voula: 699 residences, €7,274/sq. m., 179 sq. m.

  • Alimos: 596 residences, €5,129/sq. m., 312 sq. m.

  • Paleo Faliro, Marousi, Kallithea, Ilioupoli, Agios Dimitrios, Halandri, Nea Smyrni: €3,604–6,398/sq. m.

Old Properties

• Properties over 30 years old: 60% of the total

• Renovated: Only 10,500

• Not renovated: ~89,500

Distribution of Real Estate Supply

Area	Percentage	Number of Properties
South Suburbs of Athens	18%	23.039
Athens City Center	14%	17.700
Thessaloniki	9%	11.494
North suburbs of Athens	~9%	11.307
Crete	3%	3.293
East Attica	2%	2.906
Rest of Greece	24%	33.605

Conclusions

• The market is characterized by oversupply, but not necessarily quality supply.

• The prices are disproportionateto the actual value and condition of the properties.

• The newly built are few in number and cater to a high-income audience.

• The housing crisis& nbsp;is not due to a lack of real estate, but to the inappropriateness and overpricing of supply.