Small apartments lead housing market price gains
Small one-bedroom apartments of 40-60 sq.m. have emerged as the strongest performers in Greece’s housing market, recording higher price increases than both the overall market and larger property categories.
According to data processed by ReDataset of the RCG group and included in the latest Foundation for Economic and Industrial Research (IOBE) Bulletin on Private Debt in the Economy, these smaller homes recorded annual price increases of up to 7.9% in Athens’ western and southern suburbs.
Price gains for this category also reached 6.9% in central Athens, 5.5% in Thessaloniki, 4.9% in Piraeus and 4.8% in the northern suburbs of the capital. By comparison, overall housing price increases were lower, reaching 6.1% in western and central Athens, 4.9% in the southern suburbs, 4% in the north, 4.2% in Thessaloniki and 3.6% in Piraeus.
The trend reflects stronger demand for smaller, more affordable homes, as well as changing household needs. The Bank of Greece has highlighted demographic shifts as a factor behind increased demand for smaller urban residences. Despite Greece’s declining population, the number of single-person households has risen across the country.
In the greater Athens area, where the population fell by 0.4%, the number of households increased by 8.4%, or 127,300 households, mainly due to a 36.9% rise in single-person households. The development points to changing housing preferences, with greater demand for smaller homes in urban areas.
Sales data from the REMAX Greece real estate network confirms the trend. In 2025, 45.8% of homes purchased in the greater Athens area were up to 75 sq.m., including 16.8% up to 50 sq.m. and 29% between 51 and 75 sq.m. In Thessaloniki, 48% of buyers chose homes up to 75 sq.m., with 18% buying properties up to 50 sq.m.
Affordability remains a key factor. A newly built 60 sq.m. apartment in Athens’ western suburbs can cost around €200,000-€250,000, compared with about €300,000 for an 85 sq.m. home, making smaller properties a more realistic option for many buyers.
