Athens New-Build Apartment Prices Keep Rising, but Pace Slows

The relentless emergence successful Athen’s spot prices is continuing, with new-build apartments still becoming progressively expensive, adjacent arsenic the marketplace shows wide signs of slowing momentum.

According to the Bank of Greece, residential spot prices are expected to support expanding done 2026, albeit astatine a much mean gait than successful caller years, arsenic the lodging marketplace gradually enters a much mature phase. The cardinal slope notes that while request remains strong, terms maturation is opening to decelerate compared with the post-pandemic surge.

Price maturation eases successful 2025

Data from the Bank of Greece amusement that the upward trend successful location prices continued done the third 4th of 2025, though astatine a slower complaint than successful 2024. During the archetypal 9 months of 2025, flat prices roseate by 7.5% successful nominal terms, down from a 9.7% summation implicit the aforesaid play a year earlier.

A abstracted survey by Geoaxis Property & Valuation Services offers a much elaborate look astatine the market, peculiarly for new-build homes. In the third 4th of 2025, prices of recently built apartments roseate by 6.07% year-on-year, while prices of older, resale apartments accrued slightly more, by 6.65%.

Both figures constituent to a cooling trend compared with the third 4th of 2024, when new-build prices roseate by 8.5% and resale homes by 7.8%.

A decennary of crisp increases

Even with the caller slowdown, the longer-term representation highlights conscionable however aggravated the terms surge has been. Since 2016, prices of new-build apartments successful areas monitored by Geoaxis person accrued by astir 100%, while resale flat prices are up by astir 94%.

This melodramatic emergence has reshaped the lodging marketplace crossed Athens, with some neighborhoods experiencing particularly strong gains.

Maroussi leads the climb

Maroussi, a large concern and residential hub successful bluish Athens, has recorded the largest wide summation successful new-build prices implicit the past decade. Average prices there person jumped by 109%, rising from €1,833 per square metre successful 2016 to €3,825 per square metre successful 2025.

Other areas with striking semipermanent gains see Palaio Faliro, a coastal suburb south of cardinal Athens, where new-build prices are up 104%, followed by Peristeri successful western Athens with a 101% increase, and Ampelokipoi, adjacent the metropolis center, with prices up 99%.

High-end neighborhoods propulsion higher

Palaio Faliro besides posted the strongest yearly summation successful 2025 among the areas surveyed, with new-build prices rising 8% year-on-year to an mean of €4,013 per square meter.

The astir costly country successful the sample, however, is Cholargos, an affluent bluish suburb, where new-build apartments present merchantability for an mean of €4,443 per square meter, with prices rising by 4.12% implicit the past year.

Older apartments travel a akin pattern

The trend is mirrored successful the resale market. Maroussi again tops the list, with prices of older apartments rising by 101% since 2016, from €1,057 per square metre to €2,121 per square metre successful 2025. Cholargos follows intimately with a 100% increase, while Peristeri has seen prices ascent by 98%.

Source: tovima.com