Athens housing prices reach 4,360 euros per square meter

New data from Deloitte indicates that the cost of purchasing a new home in Athens has become increasingly unaffordable for the average citizen. The average price for new construction is currently 4,360 euros per square meter. To purchase a 70-square-meter apartment, a household would require approximately 16 years of combined average salaries.

This pricing places Athens as the third most expensive city in Europe regarding the ratio of housing prices to local income. This represents a decline from the previous year, when the city ranked second with a required 15.3 years of income.

The high costs are driven by construction expenses, ranging from 2,000 to 2,500 euros per square meter, alongside high land costs. Experts suggest that addressing this crisis requires comprehensive policy interventions, including tax incentives, favorable financing, and the utilization of existing housing stock rather than solely increasing new construction activity.