Perceptible rise in prices – Real estate sales in Patras for 2023 moved up 10%

According to the official data collected from sales carried out in 2023 through RE/MAX Greece, throughout the territory, the resulting increase in the sales prices of newly built properties up to 5 years is 11% and 13% in properties from 5 years and higher than the previous year.

The average increase is 12% for all property categories regardless of year of construction. In Patras, the price for new buildings in 2023 increased by 10%, to 2,200 euros/sq.m. and for apartments over 5 years old we also had the same increase, to 1,050 euros/sq.m.
In the rest of Greece, significant increases were observed in both newly built and second-hand properties. In particular, the average price for properties up to 5 years was 2,561 euros/sq.m. and for used ones at 1,635 euros, an increase of 13% and 13.5% respectively.
More expensive areas (with the exception of Attica, Crete, Nissia and Thessaloniki) than Patras are in Ioannina and Kalamata, while in Nafplio and Larissa, the newly built properties range in the same price.
Investment for Greeks and foreigners
This increase is largely due to the fact that the Greek still trusts real estate as the safest investment.
The real estate market is still one of the main pillars of the economy, with the real estate market in Greece in a recovery phase. The return to positive growth rates, combined with the increase in tourism and the attraction of foreign investors to the country, have given a strong impetus to the market, dragging prices along, according to RE/MAX Greece.
However, what is worth emphasizing is that foreigners are not limited to buying properties in touristic places or in Athens and Thessaloniki, but have expanded their interest to other areas that did not show strong demand.
He holds the sceptre
In the prefecture of Attica, an increase in the prices of newly built properties up to 5 years old was recorded by an average of 10.6%, for used properties over 5 years old the increase reached an average of 13.1%.
According to the integrated sales of the network, the Zografou and Hilton areas recorded the largest price change per sq.m. in properties older than 5 years. In the Northern Suburbs area, both new-build and pre-owned properties are seeing even bigger increases compared to 2022.
High prices are also recorded in the Southern Suburbs, noting very significant increases in new constructions by an average of 15.8%. In the Western suburbs, the average price per sq.m. in second-hand properties it increased by an average of 20.1%.
In Piraeus and the neighboring areas, the average price for newly built properties was 3,303 euros per square meter, while for older properties 2,490 euros, marking an increase of 9.8% and 9.9% respectively. Based on all the above, in all the regions of the prefecture of Attica, the prices of second-hand properties had a greater increase in relation to the price increase of new buildings, compared to 2022.
The co-capitalist
In the prefecture of Thessaloniki, the average sale price of newly built properties amounts to 2,449 euros per sq.m. showing an increase of 9.6% and in older properties at 1,690 euros per sq.m., i.e. 12.6% higher.
In more detail, in the center of Thessaloniki, the average sale price of second-hand properties increased by 11.7% to reach 2,528 euros per square meter. New buildings recorded an increase of 9%, with the average sale price of 3,522 euros per square meter. subway.