In the second quarter of this year, Greece demonstrated an acceleration in residential property price growth, as confirmed by Bank of Greece indices. The national average annual rate increased from 7% in the first quarter to 7.3% in the following three months. This positive trend was particularly noticeable in Attica and other major urban centers, where price growth was more significant.
While Attica posted a 5.9% increase (versus 5.2% previously), other major cities recorded an even more impressive 8.5% growth in the second quarter, significantly higher than the first (7.7%) and fourth quarters of 2024 (5.1%). Interestingly, Thessaloniki, although continuing to show strong price growth (8.8% in the second quarter), showed a slight slowdown compared to the first quarter (10.1%). A similar trend of slight slowdown was observed in the rest of the country, where growth was 8.8%, compared to 9.1% in the previous quarter.
These figures likely reflect the impact of the state-run "My Home" program, which was launched in the second quarter of the year with a budget of €2 billion. The first transactions registered under this program in April likely stimulated demand and, consequently, influenced pricing in the real estate market.