Rental prices for residential properties in Greece have surged significantly, with many areas of Attica reporting increases of over 20% year-over-year by mid-2025, according to data from classified ads platform Chrysi Efkeria.
- Voula saw a 22.1% increase in rental prices for large properties (121+ sq.m.), now averaging €17/sq.m., with available listings down 29.5%.
- Aigaleo recorded a 21.3% increase to €7.15/sq.m. for similar-sized homes.
- Elliniko rents for apartments up to 80 sq.m. have climbed 15.3% to €14.7/sq.m., while larger units now demand €15.67/sq.m.
- Glyfada posted hikes ranging from 12% to 15.7%, with typical monthly rents for a 70 sq.m. flat reaching €1,050–€1,075.
- Vyronas saw a 16.6% rise for large units (121+ sq.m.) at €8.33/sq.m.
- In Piraeus, rents rose by 11.8% for small apartments, with the average price above €11/sq.m.
- In Halandri, northern Athens, smaller homes (up to 80 sq.m.) are now rented at €13.5/sq.m., marking a 15% rise. Available listings have dropped by 22.3% compared to the previous year.
Thessaloniki overtakes Attica in rental growth
Thessaloniki has now outpaced Attica in rental inflation. The average rent for units up to 80 sq.m. is €10.55/sq.m. — a 17.6% annual increase. For many incoming university students, co-renting is now the only viable option.
Rental supply still in decline, with few exceptions
While most regions show decreased rental supply, areas like Piraeus, Glyfada, and Thessaloniki are exceptions, fueled by investment activity in ”serviced apartments” tailored for digital nomads and corporate tenants.
Piraeus: Small-unit supply rose 18.7%, with rents up 11.7% to €11.65/sq.m; Glyfada: 20.5% more listings for 81–120 sq.m. units, with rents averaging €14.95/sq.m. (+12%); Thessaloniki: Listings up 12.5% for small units (1,993 properties), with rents up 17.6%.
Athens’ city center, however, continues to lag, with a 13.2% drop in listings under 80 sq.m., now averaging €11.65/sq.m. — also an 11.7% rise in price. Mid-sized units (81–120 sq.m.) are down 12.6%, with rents up 8.9% to €10.1/sq.m.
Plummeting supply of homes for sale
According to the same source, Athens city center supply of units under 80 sq.m. is down 9.4%, pushing asking prices to €2,600/sq.m. (+8.3%).
Also, homes sized 81–120 sq.m. dropped 11.3% to 11,229 listings, and listings of larger homes (121+ sq.m.) have fallen 17.8% to just 4,764. Similar trends were noted in Piraeus, where medium-sized listings declined 21.2%. Prices remained mostly flat at €2,620/sq.m., while smaller homes saw a slight price correction (-5.6%) to €2,845/sq.m.
In Glyfada, despite new developments, listings fell 4%, while asking prices rose 3.1% to €5,110/sq.m., and for large homes reached up to €6,130/sq.m.
In contrast, Thessaloniki shows a surprising rise in housing availability, attributed to a wave of new constructions driven by the anticipated launch of the city’s metro system.
Listings of apartments under 80 sq.m. rose 7.8% (5,075 units), homes over 121 sq.m. jumped 15.9% (735 units), medium-sized listings remained stable (1,590 units). Prices followed suit, rising 9% for small homes, 7.3% for large ones, and 6.7% for mid-sized apartments.
Government incentives largely ineffective
The current policy, offering tax breaks to owners who rent out previously vacant properties, has failed to incentivize enough participation. The main flaw, according to the Greek Property Owners’ Federation (POMIDA), is that the exemption is tied to the tenant, not the property. If a tenant moves out early — even within the first few months — the landlord forfeits the full three-year tax benefit.
