Sold Properties

Nine of the ten properties sold last year were residential, with Greek buyers focusing on older properties over 30 years old up to 90 square meters.

These figures come from real estate deals that took place in 2019 through the largest RE / MAX real estate network in Greece.

According to RE / MAX's nationwide survey, 88% of the properties sold were residential (apartments & houses / maisonettes), while land and commercial properties accounted for 5% and 7% respectively.

Even greater is the interest in buying homes in big cities and less so in commercial real estate or land. In Attica, for example, 92% of real estate sold in 2019 was residential. Land parcels accounted for only 2% of all transactions, while commercial real estate accounted for 6% of all properties sold. The Thessaloniki real estate market also shows a similar percentage, with sales focusing almost exclusively (94%) on housing, 4% on commercial real estate and 2% on land.

Regarding the preference of the buyers depending on the age of the property, it is clear from the RE / MAX Greece data that the trend of previous years is continuing, as old houses (over five years old) were preferred over Greece (98%) over new & new ones. (up to five years) which accounted for only 2% of the purchasing interest.

In the first place with a big difference from the second category were found the old real estate over 30 years old as 7 out of 10 sales related to this category of real estate. In second place in terms of purchasing interest are homes aged 11 to 20 years (15% of the total), while much lower places are the so-called newly built properties.

In Attica, the majority (85%) of the properties sold were old (over 25). Newly built, along with new ones (up to 5 years old), are completely absent, while real estate for 6 to 15 year olds accounted for only 7% of all purchasing interest. Finally, for the intermediate category of real estate aged 16 to 25 the preference rate was 8%.

Thessaloniki tops the list with 63% of homeowners over the age of 25, with real estate up to 5 years old preferred by just 5% of buyers. About 1 in 5 properties were between 6 and 15 years old (20%) and the remaining 12% were 16 to 25 years old.

Regarding the area of ​​choice according to the area, Attica preferred small and very small houses (up to 70 m2) with 41%, while 4 out of 10 chose medium size houses from 71 to 110 square meters.

In Thessaloniki, real estate with the largest area of ​​71 to 110 sq.m. as it was preferred by 4 out of 10 buyers, with the second option being 20% ​​of the apartments up to 50 sqm, as well as the apartments of 51 to 70 sqm. preferred by 18% of buyers. Much smaller was the percentage of buyers (8%) who turned to large homes over 150 sq.m.

In more detail, based on the sales of RE / MAX network in Greece in 2019, the distribution of the sold properties by type, age and area both nationally and in individual regions is presented.

According to the distribution of property sold nationwide by type of property, around 9 in 10 (88%) of the properties sold were residential (apartments & houses / maisonettes) throughout the country, while plots and commercial properties were small. shares, 5% & 7% respectively

In Attica, 92% of the properties sold were residential. Plots reached only 2%, while commercial real estate accounted for 6% of total sold properties.

In Thessaloniki, sales were concentrated almost exclusively (94%) on houses and only 2% on land plots.

In the rest of Greece (except Attica & Thessaloniki), housing was still the most popular category with 81%, land parcels moved to 10% and Professional 9%.

Buyer preferences depending on age

Focusing on residential real estate, as they have the highest sales rates across the country, the distribution of sold properties is shown by age. Continuing the trend of previous years, old houses (over five years old) were preferred at 98%, compared to newly built ones (up to five years old) which gained only 2%. The interest for 11- to 20-year-olds (15% of the total) was strong, with buyers over 30 years old (68%) overwhelmingly favoring buyers.

* New development: 1%

* 1 - 5 years: 1%

* 6 - 10 years: 4%

* 11 - 15 years: 8%

* 16 - 20 years: 7%

* 21 - 25 years: 4%

* 26 - 30 years: 7%

* 30 years and over: 68%

In Attica, over 4 out of 5 properties (85%) sold were old (over 25 years old). Newcomers along with new ones (up to five years old) had no resonance while those aged 6 to 15 accounted for only 7% of the preferences. Finally, for the intermediate category of real estate aged 16 to 25 years, the preference rate was only 8% (Graph 6).

* New development: 0%

* 1-5 years: 0%

* 6-10 years: 3%

* 11 -15 years: 4%

* 16 -20 years: 5%

* 21 -25 years: 3%

* 26 -30 years: 7%

* 30 years and over: 78%

Thessaloniki tops the list with 63% over 25 years of age, more than half of all traded homes, while 1 in 6 was up to 10 years (12%) and the remaining 25% was for properties 11 to 25 years.

* New development: 3%

* 1- 5 years: 2%

* 6- 10 years: 7%

* 11 - 15 years: 13%

* 16 - 20 years: 6%

* 21 - 25 years: 6%

* 26 - 30 years: 6%

* 30 years and over: 57%

In the rest of Greece (except Attica and Thessaloniki), the percentages of those who chose old and new homes are in line with the trend in the two major urban centers, with 59% of buyers choosing old homes (over 25) and only 11 % of buyers were interested in homes up to 10 years old.

* New development: 2%

* 1 - 5 years: 2%

* 6 - 10 years: 7%

* 11 - 15 years: 12%

* 16 - 20 years: 11%

* 21 - 25 years: 7%

* 26 - 30 years: 7%

* 30 years and over: 52%

Distribution of sold properties by size of property

The small and medium-sized class up to 90 sq.m. It attracted the most interest, reaching 67%, with a nearly proportional distribution of percentages across the three subcategories (1-50 sq / 51-70 sq / 71-90 sq). Noteworthy move was the 91-110 sq.m. with a rate of 14% and houses of 111-130 sq.m. with 9%. Larger houses above 130sqm. were preferred by 10% of buyers.

* Up to 50 sqm: 20%

* 51 - 70 sqm: 22%

* 71 - 90 sqm: 25%

* 91 - 110 sqm ..: 14%

* 111 - 130 sqm: 9%

* 131 - 150 sqm: 4%

* 151 - 170 sqm: 2%

* 171 sq.m. and above: 4%

In Attica, most buyers (40%) preferred medium-sized houses (ie 71-110sqm) and small houses (1-50sqm and 51-70sqm) (41%), while all preferred almost the rest of the categories went below 10%.

* Up to 50 sqm: 18%

* 51 - 70 sqm: 23%

* 71 - 90 sqm: 25%

* 91 - 110 sqm ..: 15%

* 111 - 130 sqm: 8%

* 131 - 150 sqm: 4%

* 151 - 170 sqm: 2%

* 171 sq.m. and above: 5%

In Thessaloniki the most popular category was from 71-90sqm. of which 3 out of 10 buyers preferred it, with the second option (20%) being 1-50sqm apartments. while a percentage of 8% turned to large houses above 150sqm.

* Up to 50 sqm: 20%

* 51 - 70 sqm: 18%

* 71 - 90 sqm: 30%

* 91 - 110 sqm ..: 9%

* 111 - 130 sqm: 12%

* 131 - 150 sqm: 3%

* 151 - 170 sqm: 4%

* 171 sqm or more: 4%

In the rest of Greece (except Attica and Thessaloniki) we also notice a strong preference for medium sized houses, as about 4 out of 10 buyers chose a property of 51-90 sq.m. Also, 1 in 4 buyers (24%) chose up to 50 sqm, while a small (5%) was interested in large houses over 150 sqm ..

* 1 - 50 sqm: 24%

* 51 - 70 sqm: 22%

* 71 - 90 sqm: 22%

* 91 - 110 sqm ..: 15%

* 111 - 130 sqm: 7%

* 131 - 150 sqm: 5%

* 151 - 170 sqm: 2%

* 171 sqm or more: 3%