kathimerini.gr
Attica Land Price Increases Slow After Court Ruling
A Greek court decision invalidating building regulations benefits has slowed the 5.6% annual rise in Attica land prices (Q2 2024-Q2 2025) from 9% the previous year, with expected future price reductions of up to 5% in construction contracts and land sales. Areas like Marousi, Palaio Faliro, and Peristeri show a moderation in price increases.
- What is the immediate impact of the Greek court decision overturning building regulations on land prices in Attica?
- The recent court decision cancelling building regulations benefits in Attica, Greece, has slowed the rise in land prices. The market is adjusting, with anticipated reductions in future land prices for both direct purchases and building contracts (antiparoxi) of up to 5%. This decrease is limited by ongoing land scarcity and high demand.
- How does the current slowdown in land price increases compare to the previous year, and what factors explain this difference?
- The 5.6% average increase in land prices over the past year (Q2 2024 - Q2 2025) across areas like Ambelokipoi, Marousi, Palaio Faliro, Peristeri, and Cholargos is significantly lower than the 9% increase in the previous year. This moderation is attributed to the court ruling, impacting both ongoing and future construction projects.
- What are the potential long-term implications of this court decision on the supply of new constructions and the overall Attica real estate market?
- The reduced supply of new buildings in the coming months may lead to land prices remaining high, despite the recent court decision and its impact on development costs. The lower price increase this year, compared to last year, suggests a potential stabilization of the market, albeit at a still elevated level.
Cognitive Concepts
Framing Bias
The headline is missing, but the introduction frames the story as the end of a price increase cycle, suggesting a negative narrative. This is reinforced by the emphasis on price decreases and the use of terms like "κάμψη" (decline). The article highlights the slowing increase compared to the previous year, which is presented as a key finding, however it could be framed more neutrally by focusing on the sustained price levels instead of emphasizing the deceleration.
Language Bias
The article uses terms like "κάμψη" (decline) and focuses heavily on percentage decreases, subtly suggesting a negative trend despite sustained high prices. More neutral phrasing could be used to present the data objectively.
Bias by Omission
The analysis focuses on specific areas and price changes in Athens, but omits broader economic factors or national trends that might influence land prices. Additionally, while the article mentions 'typical' plots, it doesn't define this term clearly or offer a method for determining what constitutes a 'typical' plot. This lack of detail leaves room for reader misinterpretation.
False Dichotomy
The article presents a somewhat simplified view of the market reaction to the court decision. While it mentions adjustments to existing agreements and negotiations for new ones, it doesn't explore alternative scenarios or strategies developers might employ.
Sustainable Development Goals
The article discusses the decrease in the rate of increase of land prices in Attica, Greece. While a slowdown in price increases is not necessarily negative, the underlying issue of limited land availability and high prices contributes to unsustainable urban development. High land prices can exacerbate housing shortages, limit access to affordable housing, and lead to uneven urban development, hindering the creation of sustainable and inclusive cities. The fact that prices are still high, even with a slowdown, points to an ongoing challenge in achieving sustainable urban development.