In Attica, the center of Athens and the western suburbs stand out, where there are several properties for sale, suitable for families, but without their prices getting out of hand. The relevant research shows that the pressures on the market are great and every year everything becomes more expensive.
The average sale prices of houses increased from 2017 until the end of 2023 by 79% in Attica and by 60% nationwide. In the market of 2024, whether you are looking for a newly built or older construction property, you will hardly find a quality residence under 150,000 euros. According to a survey of the Hellenic E-Real Estates Network, the availability of properties from 75 sq.m. up to 120 sq.m. above the 1st floor, with year of construction up to 2007 and asking price up to 150,000 euros, records a decrease of 15.54% in relation to September 2022 when the “MY HOME” program was announced and by 7.12 percentage points in relation to in July 2023, further limiting the already low availability in the central Athens areas. The biggest decrease is recorded in Piraeus by 19.1%. A sharp decrease in availability is also recorded in the areas of the eastern suburbs of Attica.
With supply dwindling, demand unmet and prices rising, where are there still family-friendly properties that won’t break the bank? According to the analysis of the president of the E-Real Estates Network, Themistocles Baka, the center of Athens and the western suburbs seem to have the highest availability.
Specifically, in the areas of the center of Athens, almost 2 out of 10 residences (21.06%), from 75 sq.m. up to 120 sq.m. , above the 1st floor, with 2 bedrooms, with year of construction until 2007, are available for sale with an asking price of up to €150,000. 90.8% of the available houses were built before 1980, i.e. at least 43 years old. The “good” areas of the center such as Ampelokipi, Pagrati, Goudi, Mets and Ilisia register almost zero availability. The areas of the center that record high availability are Kolonos, Patisia, Agios Panteleimonas, Agios Eleftherios, Attikis Square and Amerikis Square.
In the areas of the western suburbs, 2 out of 10 homes (19.4%) have an asking price of up to €150,000, from 75 sq.m. up to 120 sq.m. , above the 1st floor, with 2 bedrooms, with year of construction up to 2007. If the interested party finds the residence, he should know that 80.6% of the available residences were built before 1990, of which 55% are manufactured until 1980.
The areas with the highest availability of the above specifications are Agioi Anargyri, Peristeri, Ilion and Acharnes. In the areas of Piraeus the prices rise even higher and at the price of 150,000 euros, only 1 in 10 houses are sold (9.4%). 70.9% of the available houses were built before 1980. In Piraeus, the areas with the highest availability of the above specifications are Kaminia – Palaia Kokkinia and Tambouria – Agia Sophia.
Areas with affordable properties
| Area | Property availability rate
75-120 sq.m. with 2 bedrooms – up to €150,000 |
||
| September 2022 | July 2023
|
April 2024 | |
| Athens Center | 36,6% | 28,18% | 21,06% |
| Western Suburbs | 33,2% | 21,43% | 19,4% |
| Piraeus | 28,5% | 15,62% | 9,4% |
| South Suburb | 5,03% | 1,53% | 3,07% |
| Northern suburbs | 1,2% | 0,61% | 0,64% |
| Eastern Suburbs | 13,7% | 5,14% | 3,1% |
Source/Edit: Real Estate Ads Websites/ Nationwide E-Real Estates Network, properties above 1st floor, built up to 2007
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