Residential property prices and rents continued to rise across Greece in the first quarter of 2026, with Thessaloniki recording stronger annual growth than Athens.
According to the SPI index published by property platform Spitogatos, the average asking price for homes rose by 7.9% compared with the same period in 2025, while rental asking prices increased by 4.2%. The upward trend remained particularly pronounced in major urban centres and their suburbs.
Thessaloniki posted higher growth rates than the Attica region, with asking prices for home purchases increased by 9.7% year on year in Thessaloniki, compared with 6.5% in Attica. Rental prices rose by 6.6% in Thessaloniki and 3.9% in Attica.
Housing demand continued to strengthen, especially in large urban centres. The stronger increase in sale prices relative to rents indicates increased investment activity, pushing asking prices higher and potentially further intensifying affordability pressures for tenants.
In Thessaloniki, the most expensive areas for home purchases in the first quarter of 2026 were Kalamaria at 3,142 euros per square metre, the city centre at 3,000 euros per square metre, and Pylaia at 2,989 euros per square metre. For rentals, the highest asking prices were in the city centre at 11.7 euros per square metre, followed by Vardaris-Lachanokipoi at 11.3 euros and 40 Ekklisies-Evangelistria at 10.9 euros.
More affordable purchase options were found in suburban areas such as Kallithea at 926 euros per square metre, Mygdonia at 935 euros, and Vasilika at 1,125 euros. Similarly, the lowest rental prices were recorded in Oreokastro at 5.4 euros per square metre, Mikra at 5.5 euros, and Vasilika at 5.6 euros.
The strongest annual increase in sale prices within the city was recorded in the Xirokrini-Panagia Faneromeni area, with a rise of more than 25%, while Stavroupoli and Chalastra also showed notable growth. In the rental market, the highest increases were observed in Thermi, Menemeni and again Xirokrini-Panagia Faneromeni.
At a national level, the Southern Suburbs of Athens and the Cyclades remained the most expensive areas for both buying and renting, while regions such as Kastoria, Kozani and Florina ranked among the most affordable.
Data on the Attica housing market show that the southern suburbs of Athens continue to dominate the region's list of the most expensive areas for both buying and renting. Vouliagmeni ranks as the most expensive area for home purchases, with an average asking price of €7,333 per square metre. It is followed by Voula, Elliniko, Glyfada and the Historic Centre of Athens, with the southern suburbs accounting for four of the top five positions.
At the other end of the market, the most affordable areas for property purchase include Varnavas at €1,511 per square metre, followed by Agia Varvara, Patissia, Acharnes, and the Patision-Acharnon Avenue area.
In the rental market, Vouliagmeni also ranks first, with an average asking price of €20.6 per square metre. The next most expensive areas are Kolonaki-Lykavittos, Voula, Filothei and Palaio Psychiko. The most affordable rental locations include Agios Stefanos at €7.0 per square metre, as well as Kamatero, Agioi Anargyroi, Perama and Acharnes.
Several areas recorded notable annual increases in home sale asking prices compared with the first quarter of 2025. Ymittos showed the strongest rise, followed by Drosia, Tavros, Dafni and Agia Varvara. In the rental sector, increases were more moderate, with Ymittos, Perama, Melissia, Acharnes and Haidari among the areas with annual growth.
Rising asking prices in areas such as Tavros and Dafni, as well as in rental markets including Perama, Acharnes and Haidari, highlight growing interest from buyers and tenants in less central and more affordable locations.
Mortgage lending remained accessible in the first quarter of 2026. The loan-to-value ratio increased across all loan categories, with the largest rise recorded for loans between €50,000 and €70,000. The data also show that the majority of borrowers received the full amount requested across most loan categories. Full disbursement rates reached 96.8% for loans between €50,000 and €70,000, 95.5% for loans between €70,000 and €100,000, and 95.3% for loans between €150,000 and €200,000. Lower approval rates were observed in the €100,000 to €150,000 and €200,000 to €300,000 categories, where 17.1% and 14.6% of applicants, respectively, did not receive the full requested amount.
