Filenews 11 August 2025 - by Charalambos Zakos
Usually, what monopolizes interest is the cost per square meter in the construction of houses. However, from data from the Statistical Service, interesting conclusions are drawn as to the cost per square meter and how it differs from each type of building.
According to the data, the buildings with the highest price per square meter are hotels. In second place are clinics and doctors' offices, while in third place are tourist apartments.
The report of the Statistical Service on the cost per square meter of buildings completed in the private sector in 2023, but also in previous years, presents interesting information, however, it should be emphasized that, as the Statistical Service itself clarifies, these data are not absolute and sufficiently representative for all types of buildings, Since the materials, the degree of luxury and the functional purpose differ from building to building.
It should also be noted that the construction cost results from the Building and Housing Permit Survey, which is annual and is conducted on a sample basis, while the estimate of the average cost per square meter results from dividing the total cost by the total area for each type of building.
In detail, as reported by the Statistical Service, for some types of buildings, the works that are completed in each reference year are few, resulting in the data not being considered sufficiently representative. It is also noted that each type of building corresponds to projects whose main characteristics, such as size, location, construction materials, degree of luxury, functional purpose, etc., differ, both between the projects of the same year and from year to year.
Therefore, the structure of each category of "building type" differs between the years. Therefore, estimates of average costs per square metre cannot be considered to be fully comparable over time, since part of the variations observed from year to year may be due to this factor.
In addition, it is noted that the data on the cost per square meter of buildings completed in the private sector refer to projects completed in the reference year of the Building and Housing Permit Survey, regardless of the year of issuance of the building permit or the start of their construction.
The cost of construction
The construction costs, calculated by the Statistical Service, include:
1. expenses for architectural drawings and for civil engineering, electrical, mechanical and energy efficiency studies;
2. rights for the issuance of a planning permit and a building permit,
3. labour and building materials expenses,
4. The cost of the main contractor's services
5. Value Added Tax (VAT), where applicable. The cost of construction does not include the value of the land.
Houses and apartments
Based on the data of the Statistical Service, the highest average cost is recorded in hotels, followed by clinics and doctors' offices and in third place tourist apartments.
More specifically:
Hotels: €2,202 per square meter
Clinics and doctors' offices: €1,988 per square meter
Tourist apartments: €1,775 per square meter
Restaurants: €1,651 per square meter
Educational institutions: €1,306 per square meter
Houses: €1,214 per square meter
Apartments: €1,075 per square meter
As for industrial, warehouse and agricultural buildings, their average cost per square meter is €727, €781 and €213, respectively.
The real cost for a house
Although the data of the Statistical Service give a general example of cost, however, this, as emphasized above, does not mean that it corresponds to all data, since it does not include profit, nor other expenses that may arise.
According to what professionals in the construction sector reported to "F", the cost per square meter for the construction of a house or apartment – i.e. for the type of buildings that interests most citizens – on average ranges from €1,700 for 2025 to up to €2,500, without including the cost of land.
As we have been told, today, in order for a citizen to build a house on privately owned land, he must calculate close to €1,700 per square meter and, depending on his preferences and materials, this amount increases.
The realistic cost, as they told us, is the specific one, since this includes the construction of outdoor spaces and other structures that are considered necessary in a house, clarifying that prices below €1,700 usually do not reflect all the necessary works.
