PROPERTY PRICES INCREASED BY 9.4% IN THE SECOND QUARTER OF THE YEAR, ACCORDING TO THE
Apartment prices rose steadily in the second quarter of the year. As APE-MBE reports, according to data from the Bank of Greece, the annual rate of change in apartment prices for the whole country was 9.4%, after a 9.3% increase recorded in the first quarter of year. It is recalled that for the whole of 2021, apartment prices increased at an average annual rate of 7.5%.
In more detail, the price increase in the second quarter of 2022, compared to the corresponding quarter of 2021, was 10.5% for new apartments, i.e. up to 5 years old, and 8.7% for old ones, i.e. .aged over 5 years. Based on the revised data, in the first quarter of 2022 there was a 10.4% increase in the prices of new apartments, while the prices of old apartments increased by 8.5% compared to the corresponding quarter of 2021. For the whole of 2021, prices for new and old apartments increased at an average annual rate of 8.0% and 7.1% respectively.
From the analysis of the data by geographic region, it follows that the increase in apartment prices in the second quarter of 2022 compared to the corresponding quarter of 2021 was 10.9% in Athens, 10.4% in Thessaloniki, 8.9% in other large cities and 6.3% in the other regions of the country. Based on the revised data, in the first quarter of 2022 apartment prices increased by 10.5% in Athens, 9.4% in Thessaloniki, 8.8% in the other major cities and 6.8% in the rest of the country compared to the first quarter of 2021. For the whole of 2021, the price increase in the aforementioned regions compared to 2020 was 9.6%, 7.3%, 5.7% and 4.8% respectively.
Finally, for all urban areas of the country, in the second quarter of 2022, apartment prices increased by 9.5% compared to the second quarter of 2021. Based on the revised data, in the first quarter of 2022 the corresponding increase in apartment prices in urban areas was 9.8%, while for the whole of 2021 the average annual increase was 7.9%.