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Thinking about buying a 3-bedroom apartment in Plaka? It’s a great area, but you're probably wondering: is now the right time to buy, or should you wait for prices to drop?
And what about long-term investment—should you look into other neighborhoods like Kolonaki or Glyfada where property values might appreciate more over time?
In this article, we’ll answer these questions. We know this market quite well - and we have put all our knowledge in the Greece Property Pack.
Will property prices increase in Greece in 2025?
Yes, property prices in Greece are expected to rise in 2025, driven by a combination of increasing demand and favorable economic conditions.
Backed by our fresh, in-depth market analysis, we’re confident that Greece remains an attractive destination for both domestic and international investors.
While there are some economic challenges like inflation and potential interest rate hikes, the main drivers behind Greece’s property price growth are strong and persistent.
Demand, particularly in popular tourist and urban areas, continues to outpace supply, making significant price declines unlikely. Additionally, Greece's appeal as a cultural and historical destination continues to attract buyers from around the world.
Signals pointing to a property price increase in Greece
Here are some factors suggesting prices could increase:
The Greek government is expected to continue its investment in infrastructure projects, such as transportation and tourism facilities, which will enhance property values, especially in regions benefiting from improved connectivity and amenities.
Greece's tourism sector is projected to grow further in 2025, increasing demand for vacation homes and rental properties, particularly in popular islands and coastal areas, thereby driving up property prices.
The ongoing trend of foreign investment in Greek real estate, particularly from non-EU countries seeking Golden Visas, is expected to persist, maintaining upward pressure on property prices.
Economic recovery and growth in Greece are anticipated to continue, boosting consumer confidence and purchasing power, which will likely translate into increased demand for residential properties.
The limited availability of new housing developments, due to regulatory and land constraints, will keep supply tight, particularly in urban centers, supporting price increases.
Greece's strategic location and favorable climate continue to attract retirees and expatriates, increasing demand for properties in both urban and rural areas.
The Greek government's incentives for energy-efficient renovations and property upgrades are expected to enhance property values, particularly for older buildings undergoing modernization.
Signals pointing to a property price decrease in Greece
Here are some factors suggesting prices could fall:
Potential increases in interest rates could make financing more expensive, reducing affordability for some buyers and potentially cooling demand.
Economic uncertainties, such as inflation and global market volatility, could impact consumer confidence and spending power, leading to a slowdown in property market activity.
A potential oversupply of short-term rental properties, particularly in tourist-heavy areas, could lead to a saturation of the market, putting downward pressure on prices in those regions.
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If property prices go up in Greece, how much would they increase by?
If real estate prices in Greece were to rise in 2025, the increase would likely be around 3% to 7% of their 2024 values.
Typically, real estate in dynamic markets like Greece appreciates by approximately 2% to 7% annually over the long term. However, fluctuations can occur depending on factors such as region, season, and property type.
It means that, if you spot a charming 2-bedroom apartment in Plaka, Athens for 250,000 euros today, don't be surprised if it's priced between 257,500 and 267,500 euros this time next year.
To give you a better understanding, here is a table that shows 7 types of Greek real estate properties, their estimated prices in 2024, and projections for 2025 based on potential price increases of 2%, 5%, and 7%.
| Type of Property | Average Price in 2024 (€) | Price in 2025 (2% increase) | Price in 2025 (5% increase) | Price in 2025 (7% increase) |
|---|---|---|---|---|
| Traditional Apartment (60 sqm / 646 sqft) | €200,000 | €204,000 | €210,000 | €214,000 |
| Modern Apartment (75 sqm / 807 sqft) | €300,000 | €306,000 | €315,000 | €321,000 |
| Luxury Villa (100 sqm / 1,076 sqft) | €500,000 | €510,000 | €525,000 | €535,000 |
| Studio (30 sqm / 323 sqft) | €100,000 | €102,000 | €105,000 | €107,000 |
| Loft (80 sqm / 861 sqft) | €350,000 | €357,000 | €367,500 | €374,500 |
| Townhouse (150 sqm / 1,615 sqft) | €600,000 | €612,000 | €630,000 | €642,000 |
| Investment Property (50 sqm / 538 sqft) | €150,000 | €153,000 | €157,500 | €160,500 |
Everything you need to know is included in our Property Pack for Greece
If real estate prices go up in Greece, which areas are likely to see the biggest increases?
Today, people who want to move to Greece are looking for a blend of historical charm and modern amenities, which Plaka in Athens offers. Hence, we could see a price increase there in 2025.
Additionally, there's been a growing interest in vibrant, youthful neighborhoods, and Exarchia has really taken off.
We like it when information is clear and easy to digest. So, here’s a table that highlights the areas where prices might rise the most, along with the reasons behind those expected increases. It’s very high-level. If you want more details on a specific area, please check our real estate pack tailored to the Greek market.
| Neighborhood | Level of Increase | Why |
|---|---|---|
| Plaka, Athens | High | Recent development of luxury housing projects and its increasing appeal to international buyers as travel normalizes post-pandemic, driving demand. |
| Kolonaki, Athens | High | Expected rise due to limited housing stock, upcoming renovations to heritage buildings, and growing demand for prime properties in central Athens. |
| Gazi, Athens | Medium-High | Ongoing gentrification and new transport links, along with several planned redevelopment projects in the area, are likely to push prices higher. |
| Marousi, Athens | Medium | The shift towards hybrid workspaces is driving demand for residential properties near business districts, combined with new mixed-use developments. |
| Kifisia, Athens | Medium-High | Eco-friendly urban projects and recent construction of new schools and parks are increasing its attractiveness for families, pushing prices upward. |
| Thessaloniki City Center | Medium | Investment in local infrastructure, such as the extension of tram lines and renovation of historic areas, is boosting long-term value. |
| Chania, Crete | Medium-High | With new cultural and commercial spaces being developed, this trendy neighborhood is seeing increased demand from both residents and investors. |
| Exarchia, Athens | High | Upcoming large-scale urban regeneration projects and improved public transport access are expected to make this area more desirable. |
| Glyfada, Athens | Medium-High | Its proximity to the sea, along with new office and residential developments, makes it increasingly attractive to professionals seeking more space. |
| Piraeus, Athens | Medium | Gentrification and cultural regeneration projects are attracting new residents, leading to rising prices as the area becomes more fashionable. |
| Vouliagmeni, Athens | High | As new luxury developments are launched, demand for premium housing among wealthy buyers is expected to further increase property values. |
| Santorini | High | Upcoming restoration of historic sites and high-profile cultural projects are driving a renewed focus on this iconic, picturesque location. |
If I'm looking to invest in real estate, what types of properties should I focus on for the best value appreciation in Greece?
In 2025, Greece real estate trends focus on tech-smart, energy-efficient apartments, larger suburban homes for families, properties with outdoor spaces, and eco-friendly buildings—all driving higher demand and prices. Here is a summary.
- Tech-Equipped and Energy-Efficient Apartments:
Driven by remote work and sustainability trends, these homes offer smart technology features and energy-saving systems. They cater to young professionals and tech workers, making them a hot commodity in 2025, especially in urban centers like Athens and Thessaloniki.
- Family-Sized Apartments in Suburban Areas:
With a growing demand for larger living spaces, especially among families, suburban areas near Athens and Thessaloniki are seeing increased interest. Proximity to beaches, green spaces, and schools is a major factor driving value.
- Properties with Outdoor Spaces:
Post-pandemic, outdoor spaces like terraces, balconies, or gardens have become highly desirable. In cities like Athens, these features offer a much-needed escape and are likely to drive up property values.
- Eco-Friendly Buildings with Low Carbon Footprints:
Greece's commitment to sustainability is boosting demand for eco-certified buildings. Buyers are increasingly valuing properties that align with the country’s green goals, leading to price appreciation in this category.
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