What are the price trends and forecasts in Greece right now? (2026)

So, you want to know about current housing prices in Greece and where they might be heading?

In this constantly updated blog post, we will cover the Greek real estate market in depth, looking at current property prices, 2026 forecasts, and longer-term predictions for both 5 and 10 years out.

We have gathered official data from the Bank of Greece, EU forecasts, and leading property portals to give you a clear picture of what is happening now and what may happen next.

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.

Who is the author of this content?

INVESTROPA

A team specialized in real estate investing in European countries

We are a team of financial experts, legal professionals, developers, and local real estate specialists dedicated to helping people like you avoid mistakes when investing in real estate in a foreign place, particularly in Greece. If you’d like to learn more about us, you can check our presentation page.

What are the current property price trends in Greece as of 2026?

What is the average house price in Greece as of 2026?

As of early 2026, the estimated average house price in Greece sits at around 140,000 euros (approximately 145,000 USD or 140,000 EUR), which typically represents an 85 square meter apartment or maisonette outside the most premium areas.

To put this in perspective, the average price per square meter for properties in Greece is approximately 1,650 euros (about 1,720 USD), though this national average masks huge regional differences.

The realistic price range covering roughly 80% of property purchases in Greece spans from about 70,000 euros to 350,000 euros (73,000 to 365,000 USD), with budget-conscious buyers finding options in inland prefectures and premium buyers targeting Athens South, the Cyclades, or coastal Crete.

How much have property prices increased in Greece over the past 12 months?

Property prices in Greece increased by an estimated 7% nationwide over the past 12 months ending January 2026, continuing the upward trend that has characterized the Greek market since 2018.

The realistic range of price increases across different property types in Greece over this period varied from about 5% for new-build apartments to nearly 9% for renovated older apartments in sought-after urban locations.

The single most significant factor behind this price movement in Greece has been the combination of strong tourism-driven investor demand and limited housing supply in the most desirable locations, especially Athens, Thessaloniki, and the popular islands.

Which neighborhoods have the fastest rising property prices in Greece as of 2026?

As of early 2026, the top three neighborhoods with the fastest rising property prices in Greece are Koukaki and Neos Kosmos in central Athens, Kalamaria in Thessaloniki, and Kastella in Piraeus.

The approximate annual price growth for these top neighborhoods in Greece has been running at 10% to 14% in Kalamaria, 9% to 12% in Koukaki and Neos Kosmos, and 8% to 11% in Kastella, all outpacing the national average by a wide margin.

The main demand driver behind these neighborhoods is the combination of central location, transport connectivity (including proximity to metro stations), strong rental demand from both long-term tenants and short-term visitors, and a wave of renovation activity that is repricing entire streets.

By the way, you will find much more detailed price ranges across neighborhoods in our property pack covering the real estate market in Greece.

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.

Which property types are increasing faster in value in Greece as of 2026?

As of early 2026, the ranking of property types by value appreciation rate in Greece places renovated older apartments first, followed by maisonettes and family-sized homes in suburban areas, then villas in tourism-strong coastal and island markets, with new-build apartments showing the slowest growth.

The top-performing property type in Greece, renovated older apartments in prime urban locations, has been appreciating at approximately 8% to 9% annually, outpacing new apartments which have grown closer to 6% to 7%.

The main reason renovated older apartments are outperforming in Greece is that construction costs remain elevated, making new supply expensive, while older stock in desirable locations offers better value after energy-efficient upgrades and benefits from strong rental demand.

Finally, if you're interested in a specific property type, you will find our latest analyses here:

• How much should you pay for a house in Greece?
• How much should you pay for lands in Greece?

What is driving property prices up or down in Greece as of 2026?

As of early 2026, the top three factors driving property prices in Greece are strong tourism-linked investor demand, constrained supply in high-demand locations, and elevated construction costs that keep new builds expensive.

The single factor with the strongest upward pressure on property prices in Greece is supply scarcity in popular areas, as building permits and new construction simply cannot keep pace with demand in central Athens, Thessaloniki, and sought-after islands.

If you want to understand these factors at a deeper level, you can read our latest property market analysis about Greece here.

What is the property price forecast for Greece in 2026?

How much are property prices expected to increase in Greece in 2026?

As of early 2026, property prices in Greece are expected to increase by approximately 4% to 7% over the calendar year, with a midpoint estimate of around 5.5% nationwide.

The realistic range of forecasts from different analysts for property price growth in Greece in 2026 spans from a conservative 3% to an optimistic 8%, depending on assumptions about tourism strength, interest rate movements, and regulatory changes affecting short-term rentals.

The main assumption underlying most price increase forecasts for Greece is that the economy will continue growing at around 2% to 2.3% (as projected by the EU and IMF), that mortgage rates will remain stable or ease slightly, and that supply will stay constrained in high-demand areas.

We go deeper and try to understand how solid are these forecasts in our pack covering the property market in Greece.

Which neighborhoods will see the highest price growth in Greece in 2026?

As of early 2026, the top neighborhoods expected to see the highest price growth in Greece are Kypseli, Kato Patisia, and Petralona in Athens, Toumba and the Vardaris corridor in Thessaloniki, and Drapetsona/Keratsini edges in Piraeus.

The projected price growth for these top neighborhoods in Greece ranges from 8% to 12% for the year, which is significantly above the national average of 4% to 7%.

The primary catalyst driving expected growth in these neighborhoods in Greece is the combination of relative affordability compared to nearby premium areas, ongoing renovation activity, and improving transport connectivity that is drawing both local upgraders and investors.

One emerging neighborhood in Greece that could surprise with higher-than-expected growth is Nea Smyrni in Athens, which benefits from green space, family appeal, and spillover demand from more expensive southern suburbs.

By the way, we've written a blog article detailing what are the current best areas to invest in property in Greece.

What property types will appreciate the most in Greece in 2026?

As of early 2026, the property type expected to appreciate the most in Greece is energy-efficient renovated apartments in major urban centers, followed by well-located maisonettes and family homes near good schools and transport.

The projected appreciation for the top-performing property type in Greece is approximately 7% to 9% for 2026, driven by strong rental demand and limited supply of quality, upgraded stock.

The main demand trend driving appreciation for this property type in Greece is the growing preference among both local buyers and investors for move-in-ready homes with modern energy efficiency standards, which command both higher rents and easier resale.

The property type expected to underperform in Greece in 2026 is likely to be high-end new-build developments in already saturated areas, where prices have run ahead of local affordability and rental yields have compressed.

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.

How will interest rates affect property prices in Greece in 2026?

As of early 2026, the estimated impact of current interest rate trends on property prices in Greece is moderately supportive, as the ECB has stabilized policy rates after the hiking cycle, which is gradually filtering through to slightly easier mortgage conditions.

The current ECB deposit facility rate stands at 2%, and Greek mortgage rates for home purchases currently range from approximately 3.5% to 4.5%, with the expectation that rates will remain stable or drift slightly lower through 2026.

In Greece, a 1% change in mortgage interest rates typically affects property affordability by shifting monthly payments by roughly 10% to 12% for a typical loan, which can either expand or contract the pool of qualified buyers and thereby influence prices accordingly.

You can also read our latest update about mortgage and interest rates in Greece.

What are the biggest risks for property prices in Greece in 2026?

As of early 2026, the top three biggest risks for property prices in Greece are stricter regulation of short-term rentals (which could cool investor demand in hot spots), persistently elevated mortgage rates (which would hurt affordability), and potential tourism weakness from geopolitical or economic shocks.

The single risk with the highest probability of materializing in Greece is regulatory tightening around short-term rentals, as EU-wide pressure and local housing concerns are already leading to discussions about caps and restrictions in high-pressure areas like Athens center and popular islands.

We actually cover all these risks and their likelihoods in our pack about the real estate market in Greece.

Is it a good time to buy a rental property in Greece in 2026?

As of early 2026, the overall assessment is that it can be a good time to buy a rental property in Greece if you are selective about location, focus on year-round demand areas, and accept that the era of rapid, easy gains is transitioning to more moderate growth.

The strongest argument in favor of buying a rental property now in Greece is that rents have been rising (official ECB data confirms ongoing rent inflation), supply remains tight in desirable areas, and yields in well-chosen neighborhoods still reach 5% to 8% gross, which is attractive by European standards.

The strongest argument for waiting before buying a rental property in Greece is that prices have already risen substantially since 2018, regulatory changes around short-term rentals could reduce returns in certain areas, and mortgage costs remain elevated compared to the pre-2022 period.

If you want to know our latest analysis (results may differ from what you just read), you can read our assessment on whether now is a good time to buy a property in Greece.

You'll also find a dedicated document about this specific question in our pack about real estate in Greece.

Where will property prices be in 5 years in Greece?

What is the 5-year property price forecast for Greece as of 2026?

As of early 2026, the estimated cumulative property price growth expected over the next 5 years in Greece is between 18% and 30%, which translates to a steady but not spectacular appreciation path.

The range of 5-year forecasts from optimistic to conservative scenarios in Greece spans from a low of around 15% cumulative growth (if rates stay high and tourism slows) to a high of about 35% (if economic conditions remain favorable and supply stays tight).

The projected average annual appreciation rate over the next 5 years in Greece falls between 3.5% and 5.5% per year, depending on which scenario plays out.

The key assumption most forecasters rely on for their 5-year property price predictions in Greece is that the economy will continue its recovery trajectory, that tourism will remain a strong demand driver, and that supply will not suddenly expand in the most sought-after locations.

Which areas in Greece will have the best price growth over the next 5 years?

The top three areas in Greece expected to have the best price growth over the next 5 years are the Athens regeneration belt (including neighborhoods like Kypseli, Metaxourgeio, and Neos Kosmos), Piraeus and the Elliniko-Glyfada coastal zone, and Thessaloniki (especially Kalamaria and Toumba).

The projected 5-year cumulative price growth for these top-performing areas in Greece ranges from 25% to 40%, which is significantly above the national average of 18% to 30%.

This differs from the shorter 2026 forecast primarily in magnitude rather than direction, as the same areas leading in 2026 are expected to continue outperforming over 5 years, but with compounded gains that widen the gap with slower markets.

The currently undervalued area in Greece with the best potential for outperformance over 5 years is Chania in Crete, which combines year-round appeal, growing tourism infrastructure, and prices that remain below the Cyclades or Athens South despite strong fundamentals.

What property type will give the best return in Greece over 5 years as of 2026?

As of early 2026, the property type expected to give the best total return over 5 years in Greece is mid-sized apartments (60 to 90 square meters) and maisonettes in year-round demand neighborhoods, ideally with energy-efficient upgrades.

The projected 5-year total return (combining appreciation plus rental income) for this top-performing property type in Greece is approximately 40% to 55% gross, assuming average rental yields of 5% to 6% annually on top of 18% to 30% capital appreciation.

The main structural trend favoring this property type over the next 5 years in Greece is the combination of liquidity (apartments are easy to rent and sell), renovation-driven repricing, and a broad buyer pool that includes both local families and foreign investors.

The property type offering the best balance of return and lower risk over 5 years in Greece is a renovated two-bedroom apartment in a well-connected Athens or Thessaloniki neighborhood with strong long-term rental demand, as this provides steady income and diversified exit options.

How will new infrastructure projects affect property prices in Greece over 5 years?

The top three major infrastructure projects expected to impact property prices in Greece over the next 5 years are the Athens Metro Line 4 (a 1.5 billion euro project adding 15 new stations), the Elliniko development (Europe's largest urban regeneration project transforming the former Athens airport), and the Athens transport modernization program (including 1,600 new buses and metro upgrades by 2027).

The typical price premium for properties near completed infrastructure projects in Greece ranges from 10% to 20% compared to similar properties without improved access, based on historical patterns around previous metro expansions.

The specific neighborhoods in Greece that will benefit most from these infrastructure developments include Kypseli, Exarcheia, Kolonaki, and Zografou (along the new Metro Line 4 route), and Glyfada, Alimos, and Elliniko (near the coastal development and planned metro extension to Glyfada).

How will population growth and other factors impact property values in Greece in 5 years?

The projected population trend in Greece is a continued slow decline of roughly 0.3% to 0.5% per year nationally, but this overall figure masks concentration effects, as Athens, Thessaloniki, and selected coastal/island areas are expected to see stable or growing populations due to internal migration and foreign arrivals.

The demographic shift with the strongest influence on property demand specifically in Greece is the aging population (median age now exceeds 46 years), which is increasing demand for smaller, accessible apartments in well-serviced urban locations while reducing demand in rural areas.

Migration patterns, both domestic and international, are expected to have a supportive effect on property values specifically in Greece over 5 years, as continued foreign buyer interest (including Golden Visa applicants, digital nomads, and retirees from Northern Europe) concentrates demand in Athens, Thessaloniki, and lifestyle destinations.

The property types and areas that will benefit most from these demographic trends in Greece are compact, energy-efficient apartments in major city centers and well-connected suburban nodes, while rural properties and remote mountain villages will likely continue to see weaker demand.

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.

What is the 10 year property price outlook in Greece?

What is the 10-year property price prediction for Greece as of 2026?

As of early 2026, the estimated cumulative property price growth expected over the next 10 years in Greece is between 35% and 60%, representing a long-term path that roughly tracks income growth plus inflation plus a scarcity premium in desirable locations.

The range of 10-year forecasts from optimistic to conservative scenarios in Greece spans from around 25% cumulative growth (in a scenario of prolonged economic stagnation and demographic headwinds) to about 70% (in a scenario of strong tourism growth, continued EU investment, and sustained foreign demand).

The projected average annual appreciation rate over the next 10 years in Greece falls between 3% and 5% per year, which is more moderate than the post-2018 recovery phase but still positive.

The biggest uncertainty factor in making 10-year property price predictions for Greece is the direction of demographics, as continued population decline could eventually dampen demand in many areas even as prime locations remain resilient.

What long-term economic factors will shape property prices in Greece?

The top three long-term economic factors that will shape property prices in Greece over the next decade are productivity and income growth (the fundamental driver of sustainable housing demand), tourism competitiveness (which keeps certain Greek regions globally priced), and housing supply responsiveness (determined by building permits, construction costs, and planning constraints).

The single long-term economic factor that will have the most positive impact on property values in Greece is continued integration into the European economy and tourism circuit, as this sustains foreign investment, supports incomes, and maintains demand for both residential and holiday properties.

The single long-term economic factor that poses the greatest structural risk to property values in Greece is the demographic decline, as a shrinking and aging population could eventually reduce overall housing demand, particularly in rural areas and secondary cities that lack tourism or migration appeal.

You'll also find a much more detailed analysis in our pack about real estate in Greece.

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 - Residential Property Price Indices Q3 2025	Greece's central bank publishing official bank-valuation-based house price data.	We used this as our backbone for nationwide price growth rates. We projected the trend forward to January 2026 using conservative assumptions.
Bank of Greece - Real Estate Market Statistics Hub	Official portal where Greece's central bank publishes real estate datasets.	We confirmed index methodology and coverage. We triangulated with other supply and demand indicators the BoG tracks.
Spitogatos Property Index	Greece's largest property portal with transparent asking-price methodology.	We used it for price-per-square-meter levels and local area comparisons. We adjusted asking prices to estimate transaction prices.
European Commission - Greece Economic Forecast	EU's official macro forecast used by policymakers and investors.	We used it to anchor the 2026 macro backdrop including growth and inflation. We translated that into housing demand conditions.
IMF - Greece Profile (WEO DataMapper)	IMF's official macro dataset and forecast interface for Greece.	We cross-checked GDP and inflation direction. We used it as a second anchor for our 5 and 10 year scenarios.
Greek Ministry of Finance - Draft Budgetary Plan 2026	Official government fiscal document submitted under EU processes.	We validated government baseline macro assumptions for 2026. We framed policy-driven demand from investment and housing measures.
ECB - Key Interest Rates	Primary source for euro-area policy rates that drive mortgage pricing.	We described the interest rate environment as of the first half of 2026. We connected rate levels to affordability and buyer sentiment.
ECB Data Portal - Greece Mortgage Rate Series	Official ECB-published banking data for Greece updated monthly.	We grounded what mortgages actually cost in Greece. We explained how rate changes affect monthly payments and buyer budgets.
ECB Data Portal - Greece Rent Inflation (HICP)	Official Eurostat/ECB inflation series for rents, comparable over time.	We described rent pressure which is important for buy-to-let analysis. We stress-tested rental yields against price growth.
ELSTAT - Private Building Activity	Greece's national statistics agency publishing official building permits data.	We gauged supply momentum from new permits and surface trends. We connected supply tightness to overheated areas.
ELSTAT - Construction Cost Indices	ELSTAT's official measure of how expensive it is to build new homes.	We explained why replacement cost is rising and new builds stay pricey. We supported our view on which property types keep pricing premiums.
Bank of Greece - Tourism Receipts Data	Official BoG release tied directly to Greece's tourism-driven demand.	We connected tourism strength to short-let demand and investor appetite. We explained why holiday markets behave differently.
KEPE - Trends in Greek Real Estate Market	Greek public research body publishing evidence-based policy analysis.	We added policy specifics like Golden Visa thresholds and long-cycle framing. We cross-checked that our narrative matches documented drivers.
BIS - Residential Property Prices Overview	International central-bank institution standardizing cross-country housing indicators.	We sanity-checked Greece's cycle versus other countries. We avoided over-interpreting one local dataset in isolation.
Worldometer - Greece Population	Elaboration of United Nations population data and projections.	We anchored demographic trends affecting housing demand. We connected population decline to regional property market dynamics.
Athens Metro - Wikipedia	Comprehensive reference for metro expansion plans and timelines.	We identified infrastructure projects affecting property values. We connected metro station access to neighborhood price premiums.