The situation
The analysis of real estate sales in Attica for the year 2023, conducted by the RE/MAX Hellas network and the online platform Spitogatos.gr, has revealed a significant discrepancy between the prices requested by sellers and the actual transaction prices.
The Key Points:
- High expectations: Sellers in the southern suburbs of Athens are asking 25% more than buyers are willing to pay.
- Greatest discrepancy. In Alimos, the difference between the asking price and the actual price is 47%.
- Reasons: Strong demand from foreign investors under the "Golden Visa" program has driven the prices up. This in turn has led to unreasonable expectations among sellers.
- Risks: Overinflated prices could lead to a market correction if demand from foreign buyers begins to decline.
Examples
Alimos:
- Asking price: €4,788 per sq.m.
- Sale price: €2,530 per sq.m.
- Difference: 47%
Glyfada:
- Asking price: €4,811 per sq.m.
- Sale price: €4,230 per sq.m.
- Difference: 12%
Piraeus Center:
- Asking price: €2,333 per sq.m.
- Sale price: €1,950 per sq.m.
- Difference: 16.4%
Why is it important
Buyers need to be cautious and avoid overpaying for property in Attica, as well as try negotiating. Sellers should realistically assess their property and be prepared to offer discounts.
Source: Ekathimerini
Photo by Dimitris Kiriakakis on Unsplash
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