The program, which provides subsidized loans to young buyers, appears to be exerting pressure on both prices and supply, continuing the trend established by the original “My Home” scheme introduced in 2023.
According to data analysis by ReDataset, the analytics arm of Resolute Cepal Greece, asking prices for residential properties have risen across all regions since the beginning of the year. Nationwide, the average price per square meter for eligible properties under “My Home 2” rose by 1.8% during its first four months, slightly outpacing the 1.6% increase in the broader market. At the same time, the supply of eligible homes increased by 6.6%, again just below the 7.2% growth in overall housing supply.
When compared to the original “My Home” program, the impact appears slightly more subdued. In its first four months in 2023, “My Home 1” drove a 2.3% rise in eligible property prices, while the broader market saw a 1.3% increase.
The supply of suitable homes surged by more than 30%, a sharper jump than what is currently observed. Over the full duration of that first phase, which ended in September 2023, the price of eligible homes rose by 4.7%, and their supply expanded by over 40%.
In urban centers like Athens, price increases have also continued but with regional variation. Central Athens saw a 1.7% rise in eligible property prices under the new program, with a modest increase in supply. Northern Athens experienced a stronger price gain of 2.5%, but supply actually dipped slightly, suggesting a tightening market.
In contrast, Southern and Western Athens reported more moderate price growth, with the Western sector showing a larger jump in general market prices than in program-specific listings.
In Thessaloniki, Greece’s second-largest city, property prices under the new program rose by 2.4%, slightly ahead of the general market. However, compared to the first program—when supply in the city exploded by over 60%—the increase this time around is notably more restrained.
Other major municipalities including Patras, Heraklion, and Larissa are also seeing upward trends. In Patras, eligible home prices climbed by 2.6% while supply rose by over 10%.
Heraklion saw one of the steepest price increases at nearly 4%, though that lagged behind the general market. Larissa reported gains in both price and availability, though again at a slower pace than seen during the initial program.
