Authored by the expert who managed and guided the team behind the Greece Property Pack
Everything you need to know before buying real estate is included in our Greece Property Pack
If you're wondering whether January 2026 is the right time to buy a home in Greece, you're not alone because housing prices in Greece have been rising steadily and the market is getting a lot of attention from both local and international buyers.
In this article, we break down the current housing prices in Greece and what the data actually says about whether now is a smart time to invest or if waiting might be wiser.
We constantly update this blog post to reflect the latest market conditions and official data available.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Greece.
So, is now a good time?
As of early 2026, buying property in Greece is "rather yes" because prices are still rising at a healthy pace without showing signs of an imminent crash, but you need to be selective about where and what you buy.
The strongest signal supporting this view is the Bank of Greece reporting +7.7% year-over-year apartment price growth in Q3 2025, which shows demand remains solid without being overheated.
Another strong signal is that rents are also climbing across many Greek cities, meaning landlords have fundamental support and the market isn't just driven by speculation.
Additional signals include a stable macro outlook from the EU and IMF, concrete infrastructure projects like the Thessaloniki Metro Kalamaria extension opening in February 2026, and persistently tight supply of renovated, energy-efficient units in prime locations.
The best investment strategies right now focus on metro-connected neighborhoods in Athens or Thessaloniki, renovated apartments with good energy ratings, and holding for the long term rather than quick flips.
This is not financial or investment advice, we don't know your personal situation, and you should always do your own research before making any property decisions.
Is it smart to buy now in Greece, or should I wait as of 2026?
Do real estate prices look too high in Greece as of 2026?
As of early 2026, property prices in Greece are elevated in prime areas like Athens South and the islands, but they're not uniformly overpriced across the country because the post-crisis recovery still has room to run in many secondary markets.
One clear signal that prices look stretched in the hottest zones is that gross rental yields in Athens South have compressed to around 3.8%, meaning buyers are paying nearly 26 years' worth of rent upfront for a property.
However, in less glamorous but still well-connected neighborhoods, yields remain closer to 5% or above, which suggests those areas still offer better value for investors willing to look beyond the most fashionable addresses.
You can also read our latest update regarding the housing prices in Greece.
Does a property price drop look likely in Greece as of 2026?
As of early 2026, the likelihood of a meaningful property price decline in Greece over the next 12 months is low because the macro backdrop remains supportive and there's no sign of a credit-driven bubble forming.
A plausible price change range for Greece over the next year is somewhere between flat growth and another 5% to 8% increase, with the downside scenario being a modest real-terms decline if inflation outpaces nominal gains.
The single most important factor that could increase the odds of a price drop in Greece is a sharp tightening of mortgage affordability, either through higher ECB rates or stricter bank lending standards that price out local buyers.
However, this scenario looks unlikely in the near term because the ECB has signaled a cautious approach and Greek banks are already operating with conservative lending practices after the debt crisis experience.
Finally, please note that we cover the price trends for next year in our pack about the property market in Greece.
Could property prices jump again in Greece as of 2026?
As of early 2026, the likelihood of a renewed price surge in Greece is medium because while demand drivers remain strong, affordability constraints are now acting as a natural ceiling in the priciest submarkets.
A plausible upside scenario for Greece over the next year is price growth in the 8% to 12% range, but this would likely be concentrated in specific neighborhoods benefiting from new infrastructure or international demand rather than a nationwide jump.
The single biggest trigger that could drive prices to jump again in Greece is a further easing of ECB policy rates combined with strong tourism and remote-work demand flowing into coastal and island properties.
Please also note that we regularly publish and update real estate price forecasts for Greece here.
Are we in a buyer or a seller market in Greece as of 2026?
As of early 2026, Greece is closer to a seller's market in the most demanded areas like central Athens, Thessaloniki, and popular islands, while more peripheral locations are approaching balanced conditions.
Official months-of-inventory data for Greece is not published the same way as in the US, but based on price growth of 7.7% and rising rents, we estimate effective inventory in prime areas sits well below the 6-month level that typically signals a balanced market.
Similarly, the share of listings with price reductions in Greece's hottest neighborhoods appears limited because well-priced properties are selling before needing cuts, though overpriced listings in secondary areas do sit longer and eventually get reduced.
We have made this infographic to give you a quick and clear snapshot of the property market in Greece. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
Are homes overpriced, or fairly priced in Greece as of 2026?
Are homes overpriced versus rents or versus incomes in Greece as of 2026?
As of early 2026, homes in Greece's prime areas look expensive when compared to both rents and incomes, while secondary markets still offer more reasonable valuations for buyers focused on fundamentals.
The price-to-rent ratio in central Athens sits around 17 to 18 years of rent, which is higher than the 12 to 15 years typically considered balanced, while in Athens South suburbs this stretches to about 26 years because of lifestyle premiums.
The price-to-income multiple in central Athens is roughly 10 times the median household income for a typical 80-sqm apartment, which is high enough to create real affordability pressure and suggests prices cannot keep outrunning local wages forever.
Finally please note that you will have all the indicators you need in our property pack covering the real estate market in Greece.
Are home prices above the long-term average in Greece as of 2026?
As of early 2026, Greek property prices are still below their pre-2009 crisis peak in real terms, but the recovery is now mature enough that you should not expect the same easy gains that earlier buyers captured.
The recent 12-month price change in Greece was +7.7% according to official Bank of Greece data, which is solid but has moderated from the double-digit surges seen in some earlier recovery years.
In inflation-adjusted terms, Greece is still rebuilding from a very deep trough, so current prices are not "bubble territory" by historical standards, but they're no longer early-cycle bargains either.
Get fresh and reliable information about the market in Greece
Don't base significant investment decisions on outdated data. Get updated and accurate information with our guide.
What local changes could move prices in Greece as of 2026?
Are big infrastructure projects coming to Greece as of 2026?
As of early 2026, the single biggest price-moving infrastructure project in Greece is the Thessaloniki Metro Kalamaria Extension, which is set to begin operations in February 2026 and will likely boost property values near new stations in Kalamaria, Aretsou, Nea Krini, and Mikra.
The timeline for this project is essentially complete because construction is done and the February 2026 opening date has been officially announced, making it a rare "date-certain" catalyst you can actually plan around.
In Athens, Metro Line 4 is also a major development that will eventually improve connectivity in neighborhoods like Kypseli, Exarchia, Kolonaki, and Goudi, though its full impact will unfold over a longer timeline.
For the latest updates on the local projects, you can read our property market analysis about Greece here.
Are zoning or building rules changing in Greece as of 2026?
The most important rule change being discussed in Greece right now is the tightening of short-term rental regulations, including freezes on new licenses in central Athens neighborhoods like Kolonaki, Koukaki, and Exarchia.
As of early 2026, the net effect of these short-term rental restrictions is likely to be a cooling of investor-driven price pressure in exactly those neighborhoods that had the most Airbnb-fueled demand, which could create better entry points for long-term investors.
The areas most affected by these rule changes are the historic and tourist-heavy neighborhoods of central Athens, where short-term rentals had been pushing out long-term tenants and driving up prices.
Are foreign-buyer or mortgage rules changing in Greece as of 2026?
As of early 2026, foreign-buyer rules have already tightened significantly through higher Golden Visa investment thresholds under Law 5100/2024, which is likely to reduce marginal international demand in prime areas like Attica, Thessaloniki, and major islands.
The most notable foreign-buyer rule change is the increased minimum investment required to qualify for Golden Visa residency in prime zones, which pushes some international investors toward different geographies or out of the market entirely.
On the mortgage side, Greek banks are operating with conservative lending standards and floating-rate housing loans sit around the low-to-mid 3% range, which is significantly higher than the ultra-low rate environment of 2021 and acts as a natural brake on price growth.
You can also read our latest update about mortgage and interest rates in Greece.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Greece versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
Will it be easy to find tenants in Greece as of 2026?
Is the renter pool growing faster than new supply in Greece as of 2026?
As of early 2026, renter demand in Greece is outpacing new rental supply in most major cities, especially for renovated units near universities, metro lines, and employment centers.
The best signal of renter demand in Greece is the persistent rent growth visible across Athens and Thessaloniki neighborhoods, which indicates more people are competing for the available housing stock.
On the supply side, building permits have improved from their post-crisis trough according to ELSTAT data, but the pipeline is not elastic enough to quickly relieve pressure in the most desirable locations.
Are days-on-market for rentals falling in Greece as of 2026?
As of early 2026, days-on-market for rentals in Greece varies dramatically by quality and location, with renovated units near metro stations in Athens or Thessaloniki often renting within one to two weeks while poorly maintained stock can sit for months.
The difference between best and weaker areas is stark because a modern apartment in Pangrati or Kalamaria will move much faster than an unrenovated unit in a less connected neighborhood, even if both are priced similarly per square meter.
One common reason rental days-on-market falls in Greece is the mismatch between what tenants want, meaning updated interiors, good energy ratings, and transit access, and what much of the older housing stock actually offers.
Are vacancies dropping in the best areas of Greece as of 2026?
As of early 2026, vacancy rates in the best-performing rental areas of Greece like Kypseli, Pangrati, Koukaki, Ilissia in Athens and Kalamaria in Thessaloniki are tight, especially for move-in ready units with proper legal status and decent energy efficiency.
While Greece has significant older and vacant housing stock on paper, the vacancy rate for "good" rentable units in these prime areas is much lower than the headline numbers suggest because many vacant properties are not actually market-ready.
One practical sign that these best areas are tightening first is that landlords in neighborhoods near new metro stations or universities are increasingly able to raise rents with each new lease cycle without losing tenants.
By the way, we've written a blog article detailing what are the current rent levels in Greece.
Buying real estate in Greece can be risky
An increasing number of foreign investors are showing interest. However, 90% of them will make mistakes. Avoid the pitfalls with our comprehensive guide.
Am I buying into a tightening market in Greece as of 2026?
Is for-sale inventory shrinking in Greece as of 2026?
As of early 2026, for-sale inventory in Greece's prime zones remains constrained, especially for properties that are legally clean, well-renovated, energy-efficient, and in strong micro-locations, though nationwide inventory is more mixed.
Greece doesn't publish months-of-supply data like some other markets, but given ongoing price growth and strong buyer interest, we estimate that effective inventory of quality homes in Athens and Thessaloniki sits below what would signal a balanced market.
The most likely reason inventory is constrained in Greece is that owners of good properties have little incentive to sell when rents are rising and they can hold, while new construction takes time to deliver in prime urban locations.
Are homes selling faster in Greece as of 2026?
As of early 2026, homes in Greece are selling faster in hot neighborhoods when priced correctly, but overpriced listings in any area tend to sit much longer than they did during the fastest growth years.
There is no single official nationwide days-on-market series for Greece, but the pattern is clear from price behavior: correctly priced, well-presented homes in Athens Center, Thessaloniki, or popular islands move within weeks, while the rest require patience or price adjustments.
Are new listings slowing down in Greece as of 2026?
As of early 2026, we don't have strong evidence that new listings in Greece are dramatically slowing, but the market is increasingly selective, meaning more listings doesn't automatically translate into easier buying for quality-focused purchasers.
Greece typically sees seasonal patterns in listings with spring and early autumn being more active, and current levels appear normal for this time of year rather than unusually low.
Is new construction failing to keep up in Greece as of 2026?
As of early 2026, new construction in Greece is not keeping up with demand in the places people most want to live, particularly for dense, high-quality, energy-efficient housing in prime Athens and Thessaloniki neighborhoods.
Building permits have improved from their crisis-era trough according to ELSTAT data, but the pace of actual completed deliveries remains slower than what would be needed to fully relieve price and rent pressure in the best locations.
The single biggest bottleneck limiting new construction in Greece is the combination of complex permitting processes, limited buildable land in already-dense urban cores, and financing conditions that make speculative development risky for builders.
We made this infographic to show you how property prices in Greece compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
Will it be easy to sell later in Greece as of 2026?
Is resale liquidity strong enough in Greece as of 2026?
As of early 2026, resale liquidity in Greece is strong in major cities and prime second-home markets for properties that are "clean and standard," meaning clear title, proper documentation, renovated condition, and good location.
While Greece doesn't publish median days-on-market the same way as US markets, properties meeting these criteria in Athens and Thessaloniki typically sell within a few weeks to a couple of months, which is healthy by European standards.
The single characteristic that most improves resale liquidity in Greece is proximity to metro access, because transit-connected properties attract both local buyers and renters, creating a deeper pool of potential purchasers when you want to exit.
Is selling time getting longer in Greece as of 2026?
As of early 2026, selling time in Greece is getting longer for overpriced listings but remains stable or even faster for correctly priced, well-presented properties in strong locations.
Current median days-on-market in Greece varies widely, with realistic ranges spanning from two to four weeks for prime Athens apartments priced right, up to several months for properties that miss the mark on price, condition, or location.
One clear reason selling time can lengthen in Greece is affordability pressure, because as prices rise faster than incomes, the pool of qualified local buyers shrinks, and sellers who don't adjust their expectations end up waiting.
Is it realistic to exit with profit in Greece as of 2026?
As of early 2026, the likelihood of selling with a profit in Greece is medium to high for disciplined buyers who purchase at fair prices in improving locations, though it requires patience and proper holding periods.
The minimum holding period in Greece that most often makes exiting with profit realistic is around five to seven years, which gives you enough time to absorb transaction costs and benefit from at least one or two cycles of price and rent growth.
Total round-trip costs in Greece, including buying and selling expenses like transfer taxes, notary fees, agent commissions, and legal costs, typically run between 10% and 15% of the purchase price, or roughly 20,000 to 30,000 euros on a 200,000 euro property.
The single factor that most increases profit odds in Greece is buying slightly off-prime but improving metro-connected neighborhoods before full infrastructure benefits are priced in, rather than chasing already-expensive lifestyle zones.
Get the full checklist for your due diligence in Greece
Don't repeat the same mistakes others have made before you. Make sure everything is in order before signing your sales contract.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Greece, we always rely on the strongest methodology we can and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why it's authoritative | How we used it |
|---|---|---|
| Bank of Greece Price Indices Q3 2025 | It's the central bank's official view of nationwide apartment price changes. | We used it as the anchor for "what prices are doing right now" with latest official YoY growth rates. We cross-checked it against private asking-price indices to confirm consistency. |
| Bank of Greece Interest Rates Oct 2025 | It's the central bank's official snapshot of lending rates facing borrowers in Greece. | We used it to estimate how expensive mortgages are as of the first half of 2026. We translated rate levels into buyer affordability assessments. |
| European Central Bank Key Rates | It's the ECB's official page for policy rates driving euro-area funding conditions. | We used it to set the macro rate backdrop for Greece since Greece borrows in euros. We connected it to mortgage affordability and probability of credit-driven price drops. |
| Bank of Greece Financial Stability Review | It's the central bank's formal risk report including housing-credit context. | We used it to understand whether authorities see systemic housing-risk building up. We also flagged borrower-based measures that can cool housing demand. |
| European Commission Greece Forecast | It's the EU's official macro forecast engine for member states. | We used it to frame 2026 demand drivers like growth, wages, and investment. We stress-tested soft landing versus recession housing outcomes. |
| IMF Greece 2025 Article IV Report | It's the IMF's deep, standardized country assessment with risks and constraints. | We used it to triangulate the macro risk picture including debt, growth risks, and financial conditions. We avoided relying on local-only narratives. |
| ELSTAT Building Permits Series | ELSTAT is Greece's official statistics authority and permits signal new supply. | We used it to judge whether new construction is accelerating or stalling into 2026. We treated supply as a key input for rent and price crash scenarios. |
| ELSTAT Land Registry Activities | It's an official dataset describing registry activity tied to transactions. | We used it as a baseline for market liquidity and how active the system is. We combined it with current indicators to assess whether liquidity is improving. |
| Spitogatos Property Index | It's a large Greek property portal with transparent area-by-area price and rent data. | We used it to add neighborhood-level texture on where prices and rents are hot or cooling. We computed yield ratios as a reality check on valuations. |
| Greek Ministry of Finance DBP 2026 | It's the official government document with macro and fiscal assumptions for 2026. | We used it to cross-check growth, fiscal stance, and policy measures affecting households. We treated it as another official lens alongside Commission and IMF views. |
| Law 5100/2024 Text | It's an official publication of the law with Golden Visa threshold changes. | We used it to anchor the foreign buyer and permit discussion in identifiable legal sources. We cross-checked thresholds via professional summaries. |
| Thessaloniki Metro Kalamaria Extension | It's the official metro operator page describing project scope and timing. | We used it to highlight a specific 2026 demand catalyst in Thessaloniki's southeast. We connected it to tenant demand and resale appeal near stations. |
| Elliniko Metro Line 4 | It's the official project owner's page for Athens Metro development plans. | We used it to identify infrastructure catalysts shifting neighborhood desirability. We linked the project to specific Athens station areas. |
| Gov.gr National Cadastre Portal | It's the official government gateway for cadastre and land-registry processes. | We used it to ground ease of selling and transaction friction in official infrastructure. We pointed readers to where the system lives for their own research. |
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Greece. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.