A House in Greece: Fluctuating Prices on the Greek Islands

Greece Is | July 1st, 2021

Spitogatos recorded the largest increase in average requested sales prices on the island of Serifos.

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How the average requested sales prices are formed according to Spitogatos Property Index.

Serifos, Samothraki and Poros are the islands that show the largest increase concerning property sales prices, while the largest decline is recorded in Thassos, Ikaria and Skopelos.

According to data from the Spitogatos Property Index (SPI), which is based on the ad data of the Spitogatos real estate ad website, the average requested sales prices in Greece show significant changes.

Specifically, the largest increase in average requested sales prices was recorded in Serifos, Samothraki and Poros, with the average requested sales prices increasing by 26.2%, 23.1% and 20% respectively. The requested sales prices are set for the above islands at 2,649.5 €/sq.m., 1,066.7 €/sq.m. and 2,000 €/sq.m respectively.

Antiparos, Naxos, Kythnos and Paros follow with the annual change amounting to 17.6%, 15%, 12.8% and 12.5%. The requested prices for these islands are 3,823.5 €/sq.m., 2,697.7 €/sq.m. 2,255.6 €/sq.m. and 2,812.5 €/sq.m. Kefalonia, Tinos and Rhodes also follow with 11.3%, 9% and 8.8%, with the corresponding requested prices amounting to 1,700 €/ sq.m,1,875 €/sq.m and 1,375 €/sq.m.

The island of Thassos seems to be experiencing the largest decrease in requested prices.

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On the other hand, the islands with the largest decrease in requested prices, showing a negative annual change are Thassos, Ikaria, Skopelos and Patmos with rates of -9.2%, -7.1%, -5.6% and -5.2% respectively. The requested prices for the islands are 1,309.5 €/sq.m, 1,300 €/sq.m, 1,062.5 €/sq.m and 3,359.7 €/sq.m.

Leros, Lesvos and Kea follow with the annual change being -3.4%, -2.8% and -2.7% and the requested prices for the islands to be set at 1,931.8 €/sq.m., 1,029.4 €/sq.m. and 2,400 €/sq.m.

Syros, Chios and Spetses also show a negative change: -1.5%, -0.8% and -0.8% respectively, while the requested prices are 1,438.4 €/sq.m, 1,133.3 €/sq.m and 3,045.7 €/sq.m.

According to the data of Spitogatos website, the annual rates for Kalymnos, Ithaca, Sikinos and Agistri remained unchanged. The requested price for these islands remained at €1,666.7/sq.m., €2,307.7/sq.m., €1,666.7/sq.m., and €2,100/sq.m. respectively.

This article was previously published in Greek at moneyreview.gr.