Price – shock: the most expensive apartment in Athens was sold – See where it is and its unimaginable value

By | May 9, 2023

Real estate: For the dizzying sum of 18 million euros, a penthouse was sold, located in a sought-after and excellent area in the heart of Athens, with views of the sea and the Acropolis. All the details in

Although it did not arouse much interest from prospective buyers, the 3,200-square-foot property. located in the Anaktoron area, surrounded by Herodos Attikou, Rigillis and Stisichorou streets, it broke records in the sale of real estate in Athens and the buyer is a Swiss businessman.

Its new owner, according to the ‘Kathimerini’ report, is a Swiss businessman with a special preference for Greece and gave an astronomical amount for the Athenian market data, about 56,000 euros per square meter, a total of 18 million euros. .

It is an old penthouse, one of the few properties available in the area, it overlooks the Kalimarmar Panathenaic Stadium, Lycabettus, Parliament, Acropolis, the sea and Aegina, as well as an elevator that has direct access to it. .

Giorgos Petras, managing director of Engel & Volkers, the consulting network that also did the big deal, spoke to the newspaper and revealed that the transaction took about 10 months to complete.

“The transaction shows the interest that exists for Athens. Traditionally, buyers of this caliber are placed in the Zurich and New York markets. Unlike Athens, Mykonos sees one or two transactions of this size per year.”

Real Estate: “Fire” Prices for Sale and Rent – Expensive and Cheap Areas

In the first quarter of 2023 there is a continuation of the rise, although at a slightly lower rate than in the previous months of 2022, in the rentals and sales prices of real estate throughout Greece, as shown by the published announcements of the houses for sale

Based on data from your ad network ”Spitocats” ( by space January-March 2023 home sales prices across the land are “running” at +5.5% now, at a time when pressures in other European markets (see Germany, UK, Sweden, etc.) are more than evident and they are accompanied by price falls, limiting applications for new mortgages, increasing financing costs, etc. The Greek market is showing resilience at the moment, having a very low base for price changes due to the outright crash and fall over the past decade.

A trend now observed is that First quarter growth is lower compared to +7.2% in 2022 and +6% in 2021; while the picture is similar in terms of rental prices nationwide: the average increase in the first quarter of 2023 is 4.2% from +6.7% in 2022 and 1.3% in 2021.

Nationally, during January – March 2023, the median price of homes for sale was highest in the southern suburbs of Athens, with 3,368 euros per square meter and the lowest in Florina with 624 euros per square meter. The largest increase in this quarter compared to the previous year was recorded in Thessaloniki Municipality with +19.6%, while the largest decrease was recorded in Grevena Prefecture with -16.7%.

Real estate: The boom in Athens and Thessaloniki

In relation to the panorama that is now taking shape in the two large urban centers, it is noteworthy that the expensive areas of Athens continue to register strongly rising rates.

In the southern suburbs with an average price, as mentioned above, of 3,368 euros per m2, the year-on-year increase this year in terms of sales prices is 13.2% and is the highest average increase in all of Athens, followed by from the suburbs of Piraeus with +13.1%.

Sales prices in the equally expensive northern suburbs, where the average price currently stands at 2,800 euros, have increased by 10.3% compared to the first quarter of 2022.

A double-digit rate of increase is also recorded in the eastern and western suburbs with +10.2% and 11.2% respectively, while the rates of increase are lower in the center of Athens:

With an average price of 1,809 euros per m2. -always according to the published announcements of the “Spitogatos” network- within a year the sale prices seem to have increased by 8.5% compared to 1,667 euros per square meter in the first quarter of 2022.

Impressive are the rates of increase in the sale prices of homes in the co-capital: In the municipality of Thessaloniki, the average price now reaches 2,000 euros per m2, increased by 19.6% compared to 1,673 euros per m2 . , while at the regional level, the rise is +14.5%.

In relation to rentals in Athens, the “race” in this case is also led by the very expensive south with the highest increase of all the regions -6.7%- and with an average price that already exceeds 11 euros per m2.

In the center of Athens, despite the fact that the building stock is very old, the average price is also high, 9.4 euros per square meter. having increased further in the last year by 4.2%, while above the psychological limit of 10 euros per square meter. is the median rental price in the northern suburbs, up 2.6% from last year. The rest of Attica registered a double-digit growth rate, of the order of 10.3%.

In the co-capital, the greatest increase of 7% can be seen in the regional municipalities where the average rental price is slightly above 6 euros per m2, while in the center the average price is now around 8 euros per m2 . with an increase of 6.7%.

Real Estate: Bank applications for low-interest housing loans for young people have begun

As of today, Monday, April 3, 2023, the process of submitting applications to banks by young people and young couples for the granting of interest-free or low-interest loans for the acquisition of a first home begins.

Through the program, more than 10,000 beneficiaries can, in the year, acquire a private home, with a significantly lower monthly payment than that corresponding to market mortgages, since 75% of the capital is granted by the Public Employment Service ( PYPA) is without interest, while for those who have three children and many children (and those who acquire this condition during the repayment) the loan is granted in its entirety without interest.

Thus, borrowers will have a significantly lower fee compared to mortgage loans granted by banks and, consequently, a much lower burden than the increases that have been made or may be made in bank interest rates, due to the crisis international.

Real Estate: Examples

For example, for a loan of 100,000 euros, with a repayment term of 30 years and an interest rate of 5.8% (3-month Euribor plus 2.8%, which is an average margin charged by banks) , the monthly fee is 587.52 euros.

With the program subsidy, the fee is reduced to 342.87 euros, which means that the borrower’s benefit is 244.65 euros per month or 2,935 euros per year.

If the borrower has many or three children, then the loan is interest-free and the installment is limited to 277.78 euros, that is, the benefit is 309.74 euros per month or 3,716.88 euros per year.

For the same loan, with a repayment term of 20 years, the monthly payment is 705.63 euros and is limited, depending on the program, to 480.39 euros (a benefit of 225.24 euros or 2,702 euros per year). .

For three children, the dose is reduced to 416.67 euros (a benefit of 288.96 euros or 3,467.52 euros per year).

For the same loan, with a repayment term of 20 years, the monthly payment is 705.63 euros and is limited to 480.39 euros depending on the program (a benefit of 225.24 euros or 2,702 euros per year. For three children, the quota is reduced to 416.67 euros (benefit of 288.96 euros or 3,467.52 euros per year).

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