ATHENS, Greece – The real estate market in Athens’ Western Suburbs witnessed a significant upswing in prices for both sales and rentals during the third quarter of 2025. This trend is part of a broader market rally, with sustained inflationary pressures keeping property values high despite a decrease in household purchasing power.
Driving Factors Behind the Price Hike
The primary driver for this increase is the heightened demand for housing in the Western Suburbs. Many buyers and renters are now turning to these areas as more affordable alternatives, given the exceptionally high prices in the city center, Southern, and Northern suburbs. This shift in demand has placed considerable pressure on the available housing stock.
Adding to the challenge is the limited supply of properties. The construction of new homes has not kept pace with the surging demand. Consequently, many older properties are undergoing renovations and re-entering the market at elevated prices, further contributing to the overall cost increase.
Moreover, the escalating costs of construction and renovation, including materials, labor, and energy, are directly passed on to both sale and rental prices. This economic reality plays a crucial role in the current market dynamics, making it more expensive for developers and landlords alike.
Finally, the general upward trajectory of the real estate market, coupled with persistent inflationary pressures, ensures that property values remain high, even as the purchasing power of households diminishes. This creates a challenging environment for prospective buyers and renters, highlighting the need for strategic financial planning.
Property Price Trends in Q3 2025
In the third quarter of 2025, the average selling price for residential properties in the Western Suburbs of Athens reached 2,154 euros per square meter, marking a 12.50% increase from 1,915 euros in 2024. This substantial rise underscores the growing investment appeal and market value of properties in the region.
Rental prices also saw a significant jump, with the average cost now standing at 9.9 euros per square meter, up 7.80% from 8.43 euros last year. This increase reflects the intensified demand for rental accommodations and the limited availability of affordable options.
Sample Property Listings: Sales
- Apartment, 101 sq.m., 1st floor, three bedrooms, Haidari: priced at 3,366 euros per sq.m.
- Maisonette, 155 sq.m., 1st floor, three bedrooms, Haidari: priced at 2,580 euros per sq.m.
- Apartment, 75 sq.m., 3rd floor, two bedrooms, Agioi Anargyroi: priced at 2,466 euros per sq.m.
- Apartment, 76 sq.m., basement, two bedrooms, Ilion: priced at 1,144 euros per sq.m.
Sample Property Listings: Rentals
- Apartment, 60 sq.m., 2nd floor, one bedroom, Galatsi: renting at 12.17 euros per sq.m.
- Apartment, 40 sq.m., 1st floor, one bedroom, Peristeri: renting at 12 euros per sq.m.
- Apartment, 90 sq.m., 4th floor, three bedrooms, Menidi: renting at 8.89 euros per sq.m.
- Apartment, 77 sq.m., 1st floor, two bedrooms, Haidari: renting at 9.87 euros per sq.m.
Broader Market Context and Future Outlook
The upward trend in Athens’ Western Suburbs is consistent with the general appreciation of property values across Greece. Data from the Bank of Greece indicates that housing prices increased by 9.0% in 2024 and by an average of 7.15% in the first half of 2025 [bankofgreece.gr](https://www.bankofgreece.gr/enimerosi/grafeio-typoy/anazhthsh-enhmerwsewn/enhmerwseis?announcement=4e5cce3e-14eb-44e8-877c-75ef03e766c9). Some areas in Attica have even seen double-digit increases, significantly reducing the number of affordable areas for buying or renting a home [businessdaily.gr](https://www.businessdaily.gr/oikonomia/163524_akinita-se-poies-periohes-tis-attikis-oi-times-anebikan-pano-apo-15).
Despite the rising prices, the Western Suburbs remain among the more accessible areas of Attica. However, the continuous increase in values reflects ongoing changes and confirms the dynamic nature of the local market [news247.gr](https://www.news247.gr/oikonomia/akinita/sinexizetai-i-anodos-tis-axias-ton-akiniton-sta-ditika-proastia-tis-athinas-pos-epidra-sta-enoikia/).
According to a RE/MAX Greece survey, average rent increases across Greece reached 4.3% compared to 2024, with Attica experiencing a 4.5% increase [iefimerida.gr](https://www.iefimerida.gr/oikonomia/enoikia-ayxithikan-times-pio-akribes-periohes-attiki). This trend is linked to increased demand for quality properties and limited availability.
The Deloitte report on the housing market highlights the significant reduction in Greek households’ purchasing power. Athens is now the second most expensive city in Europe for buying a new apartment relative to income, trailing only Amsterdam. A buyer needs 15.3 annual salaries to acquire a 70 sq.m. apartment in the capital [radar.gr](https://radar.gr/article/akinita-kai-times-agoras-i-athina-sti-2i-pio-akrivi-poli-tis-evropis-se-schesi-me-ta-eisodimata). This underscores the severe housing crisis faced by many citizens.
Source: News247.gr, Bank of Greece, Business Daily, Iefimerida.gr, Radar.gr
