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Price rally in the Attica region real estate market, led by Piraeus

The TOPO GES IKE Residential Market Observatory for Attica reported increases in total sales value of up to 143% and average property prices of up to 47% in the first half of the year.

More specifically, the operation of the Metro undoubtedly played a role in the region of Piraeus experiencing the largest increase in sales (65%) between the first half of this year and the corresponding period last year. The total value of purchases and sales in the capital's port increased by 143% during this time, and the average property's price increased by 47% as well.

Sales increased by 19%, total value by 65%, and average property price by 39% in the southern suburbs (compared to 2021, average property price increased by 43%).

In the Athens municipality, the typical home sold in the first half of 2023 cost 16% more than it did in 2022 and 34% more than it did in 2021. Sales were up 15% and were worth 34% more overall.

The average price of a property sold in the northern suburbs increased by 2%, sales increased by 18%, and their overall value increased by 21%.

The average property cost 20% more in the western suburbs, sales rose by 18%, and the overall value increased by 42%. The corresponding percentages are 18%, 28%, and 52% for eastern Attica, 42%, 11%, and 59% for western Attica, and 7%, 22%, and 30% for Piraeus's suburbs.

The situation in the Saronic islands is different; there, the average property price fell by 25%, sales dropped by 7%, and the islands' overall value dropped by 20%. The Cyclades also showed a negative trend at 14%, 7%, and 21%, respectively.


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