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 are considering buying property in Greece in 2026, you are probably wondering how the market is really doing right now.
This blog post covers everything from current housing prices in Greece to days on market, neighborhood trends, and what foreign buyers actually face when purchasing real estate in this country.
We constantly update this blog post with the freshest data available, so you always get the most accurate picture of the Greek property market.
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.
How's the real estate market going in Greece in 2026?
What's the average days-on-market in Greece in 2026?
As of early 2026, the estimated average days on market for a typical residential property in Greece is around 90 to 120 days nationwide, though this varies significantly by location and property condition.
Realistically, most properties in Greece fall into a range of 45 to 150 days on market, with well-priced homes in high-demand areas like the Athens Riviera or central Athens neighborhoods selling in under 75 days, while overpriced or legally complicated listings can sit for six months or more.
Compared to one or two years ago, selling times in Greece have remained relatively stable, as the market transitioned from a rapid price-growth phase in 2023 and 2024 into a more moderate but still active environment in 2026, with slightly less urgency among buyers but no major slowdown in turnover.
Are properties selling above or below asking in Greece in 2026?
As of early 2026, most residential properties in Greece close at roughly 3% to 8% below the final asking price, though turnkey renovated apartments in prime Athens locations sometimes sell at asking or slightly above.
Roughly 70% to 80% of properties in Greece sell at or below asking, while a smaller portion, maybe 15% to 25% in hot micro-markets like Glyfada, Kolonaki, or parts of the Cyclades, see competing offers that can push final prices to asking or a bit above, and we are fairly confident in this estimate based on listing behavior and transaction data.
The property types and neighborhoods in Greece most likely to see bidding wars and above-asking sales are modern, energy-efficient new builds in the Athens Riviera, well-located renovated apartments in central Athens, and premium island properties where supply is very limited and international demand remains strong.
By the way, you will find much more detailed data in our property pack covering the real estate market in Greece.
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.
What kinds of residential properties can I realistically buy in Greece?
What property types dominate in Greece right now?
In Greece in 2026, the residential market is dominated by apartments, which make up roughly 80% to 85% of urban transactions, followed by detached houses and maisonettes that are more common in suburbs, islands, and smaller towns, with villas representing a smaller but premium segment in coastal and resort areas.
Apartments, particularly in mid-rise polykatoikia buildings, represent the single largest share of the Greek property market, accounting for the vast majority of what buyers encounter in Athens, Thessaloniki, and other cities.
This dominance of apartments in Greece developed because urban density, post-war construction patterns, and land scarcity in city centers led to widespread apartment-block development, making apartments the most practical and affordable option for both Greek families and foreign buyers working with typical budgets.
If you want to know more, you should read our dedicated analyses:
Are new builds widely available in Greece right now?
New-build properties in Greece represent a relatively small share of the total market, estimated at around 10% to 15% of available residential listings, because construction activity, though improving, has not yet caught up with demand, and modern stock remains scarce relative to the large inventory of older apartments.
As of early 2026, the neighborhoods and districts in Greece with the highest concentration of new-build developments include the Athens Riviera suburbs like Glyfada, Voula, and Vouliagmeni, parts of East and North Athens such as Marousi and Chalandri, select districts in Thessaloniki, and tourist-driven markets in Crete and the Cyclades where developers target international buyers.
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Which neighborhoods are improving fastest in Greece in 2026?
Which areas in Greece are gentrifying in 2026?
As of early 2026, the top neighborhoods in Greece showing the clearest signs of gentrification include Kypseli, Pangrati, Koukaki, Metaxourgeio, and Petralona in Athens, along with Ladadika and parts of Vardaris in Thessaloniki, where rising asking prices, new cafes, and an influx of young professionals and expats signal ongoing transformation.
In these gentrifying areas of Greece, visible changes include specialty coffee shops and wine bars replacing older tavernas, building facades being renovated, a growing presence of co-working spaces and boutique retail, and a noticeable shift in the resident mix toward younger, higher-income Greeks and foreigners attracted by central locations at lower prices than prime districts.
Over the past two to three years, gentrifying neighborhoods in Athens like Kypseli and Pangrati have seen estimated price appreciation of 20% to 40%, with some blocks in Koukaki and Petralona outperforming even that due to their proximity to tourist attractions and short-term rental demand before recent restrictions.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Greece.
Where are infrastructure projects boosting demand in Greece in 2026?
As of early 2026, the top areas in Greece where major infrastructure projects are boosting housing demand include neighborhoods along the future Athens Metro Line 4 corridor such as Exarchia, Kypseli, and Galatsi, the broader Elliniko and Athens Riviera zone, and areas around Thessaloniki's now-operational metro system including Kalamaria.
The specific infrastructure projects driving demand in Greece include Athens Metro Line 4, which will connect underserved northern neighborhoods to the city center, the massive Ellinikon coastal redevelopment project on the former airport site, and the Thessaloniki Metro which began operations and is extending toward Kalamaria.
The estimated timeline for completion of these major projects in Greece varies: the Thessaloniki Metro core is already operational with extensions underway, Athens Metro Line 4 is expected to complete around 2029, and the Ellinikon project is rolling out in phases over the next decade with early elements already visible.
In Greece, the typical price impact on nearby properties is noticeable both at announcement and completion, with areas near confirmed metro stations often seeing 10% to 20% price premiums emerge during construction and additional appreciation once stations open, as improved accessibility makes neighborhoods more attractive to buyers and renters.
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.
What do locals and insiders say the market feels like in Greece?
Do people think homes are overpriced in Greece in 2026?
As of early 2026, the general sentiment among locals and market insiders in Greece is that homes are indeed overpriced relative to local incomes, especially in Athens and Thessaloniki, where many Greeks feel locked out of ownership despite prices that still look affordable by Western European standards.
When arguing homes are overpriced in Greece, locals typically cite the disconnect between average salaries of around 1,000 to 1,400 euros per month and apartment prices that have risen 50% or more in popular areas since 2018, along with rental costs that consume a large share of household income.
Those who believe prices are fair in Greece often point to strong international demand, limited quality supply, favorable euro-area conditions, and the fact that Greek property remains cheaper per square meter than comparable Southern European cities like Lisbon or Barcelona.
The price-to-income ratio in Greece, particularly in Athens, has worsened significantly and now exceeds the national historical average, making homeownership harder for typical Greek households even as the ratio remains below that of some Western European capitals.
What are common buyer mistakes people regret in Greece right now?
The most frequently cited buyer mistake people regret making in Greece is underestimating legal complexity, including unclear property titles, unregistered modifications, incomplete cadastral registration, and encumbrances that only surface after signing, which can delay or derail transactions and lead to costly legal disputes.
The second most common buyer mistake people mention regretting in Greece is purchasing a property with short-term rental income expectations in mind, only to discover that new regulations, especially the moratorium on new Airbnb licenses in central Athens extended through 2026, make that strategy impossible or risky in their chosen neighborhood.
If you want to go deeper, you can check our list of risks and pitfalls people face when buying property in Greece.
It's because of these mistakes that we have decided to build our pack covering the property buying process in Greece.
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.
How easy is it for foreigners to buy in Greece in 2026?
Do foreigners face extra challenges in Greece right now?
Foreigners buying property in Greece face a moderate level of additional difficulty compared to local buyers, mainly due to paperwork complexity, the need for a Greek tax number (AFM), and a process that involves notaries, lawyers, and engineers in ways that can feel unfamiliar and slow.
In terms of legal restrictions, EU citizens can buy freely almost anywhere in Greece, while non-EU buyers may need additional permits in border regions and must comply with stricter documentation for Golden Visa eligibility, including new thresholds of 400,000 or 800,000 euros depending on location and a ban on short-term rentals for Golden Visa properties.
Practical challenges foreigners commonly encounter in Greece include navigating a system where many official documents are only in Greek, dealing with cadastral registration that may be incomplete or outdated, managing remote transactions across time zones, and coordinating between multiple professionals who may not always communicate efficiently with each other.
We will tell you more in our blog article about foreigner property ownership in Greece.
Do banks lend to foreigners in Greece in 2026?
As of early 2026, mortgage financing is available to foreign buyers in Greece, though it is more limited and comes with stricter conditions than what Greek residents typically receive, and not all banks actively market to non-resident borrowers.
Foreign buyers in Greece can typically expect loan-to-value ratios of 50% to 70%, meaning a down payment of 30% to 50%, with interest rates currently in the range of 3% to 5% depending on the bank, the borrower's profile, and whether the rate is fixed or variable.
Banks in Greece typically require foreign applicants to provide extensive documentation including proof of stable income from employment or business, tax returns from their home country, a clean credit history, valid identification, and a complete property valuation, with the process often taking longer than for domestic buyers.
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.
How risky is buying in Greece compared to other nearby markets?
Is Greece more volatile than nearby places in 2026?
As of early 2026, Greece shows moderate price volatility compared to nearby Southern European markets like Spain, Portugal, and Italy, with Greece having experienced sharper swings historically due to its deeper crisis and stronger rebound, while neighbors followed more gradual trajectories.
Over the past decade, Greece experienced one of Europe's most dramatic housing cycles, with prices falling roughly 40% to 45% from peak to trough during the debt crisis years before rebounding strongly since 2017, whereas Spain, Portugal, and Italy saw shallower declines and steadier recoveries during the same period.
If you want to go into more details, we also have a blog article detailing the updated housing prices in Greece.
Is Greece resilient during downturns historically?
Greece has shown mixed resilience during past economic downturns, with prime internationally demanded locations like central Athens, the Riviera, and flagship islands recovering faster due to foreign buyer interest, while purely domestic-demand areas suffered longer and deeper declines.
During the Greek debt crisis, property prices in Greece dropped roughly 40% to 45% from their 2008 peak to the trough around 2017, and recovery only gained momentum after 2018, meaning it took nearly a decade for prices in many areas to start climbing back toward pre-crisis levels.
The property types and neighborhoods in Greece that have historically held value best during downturns include modern, well-maintained apartments in central Athens districts like Kolonaki and Plaka, coastal properties in the Athens Riviera, and prime island real estate in places like Mykonos and Santorini where international demand provides a floor.
Get to know the market before you buy a property in Greece
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How strong is rental demand behind the scenes in Greece in 2026?
Is long-term rental demand growing in Greece in 2026?
As of early 2026, long-term rental demand in Greece is growing steadily, driven by affordability pressures that push more households toward renting, limited housing supply in urban centers, and an increasing share of the population that cannot access homeownership.
The tenant demographics driving long-term rental demand in Greece include young professionals priced out of buying, university students in Athens and Thessaloniki, expats and digital nomads attracted by lifestyle and cost advantages, and Greek families who prefer renting in central locations over buying in distant suburbs.
The neighborhoods in Greece with the strongest long-term rental demand right now include central Athens districts like Pagkrati, Koukaki, Neos Kosmos, and Kypseli, the university areas of Thessaloniki, and suburbs with good metro access like Marousi and Chalandri where professionals seek convenient commutes.
You might want to check our latest analysis about rental yields in Greece.
Is short-term rental demand growing in Greece in 2026?
Significant regulatory changes are currently affecting short-term rental operations in Greece, including a ban on new Airbnb-style registrations in central Athens through 2026 covering neighborhoods like Plaka, Kolonaki, Koukaki, Exarchia, and Syntagma, with similar restrictions being considered for Thessaloniki, Santorini, Paros, and Halkidiki.
As of early 2026, short-term rental demand in Greece remains strong overall, supported by record tourism numbers exceeding 40 million arrivals in 2024 and tourism receipts above 21 billion euros, though growth in new listings is now constrained by regulation in the most popular areas.
The current estimated average occupancy rate for short-term rentals in Greece is around 50% to 55% nationally, with higher rates in peak tourist areas during summer months and lower occupancy during the off-season, though shoulder-season demand has been growing as tourism becomes more year-round.
The guest demographics driving short-term rental demand in Greece include European leisure tourists, American visitors attracted by favorable exchange rates and direct flights, digital nomads seeking affordable Mediterranean bases, and business travelers attending events in Athens and Thessaloniki.
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in Greece.
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 are the realistic short-term and long-term projections for Greece in 2026?
What's the 12-month outlook for demand in Greece in 2026?
As of early 2026, the 12-month demand outlook for residential property in Greece is cautiously positive, with continued buyer interest supported by strong tourism, foreign capital flows, and limited supply, though the pace of price growth is expected to moderate compared to the rapid gains of 2023 and 2024.
The key economic and political factors most likely to influence demand in Greece over the next 12 months include European Central Bank interest rate decisions affecting mortgage costs, the ongoing implementation of Golden Visa rule changes, short-term rental regulations expanding to more areas, and Greece's continued economic growth projected at around 2% to 2.3%.
The forecasted price movement for Greece over the next 12 months is an increase of roughly 3% to 6% nationwide, with prime micro-markets potentially outperforming and weaker segments possibly lagging, representing a normalization from the higher growth rates seen in recent years.
By the way, we also have an update regarding price forecasts in Greece.
What's the 3 to 5 year outlook for housing in Greece in 2026?
As of early 2026, the 3 to 5 year outlook for housing prices and demand in Greece points to moderate continued growth with significant variation by location, where prime international zones like the Athens Riviera and quality new builds are expected to outperform while older commodity stock in less desirable areas may see slower appreciation.
Major development projects expected to shape Greece over the next 3 to 5 years include the completion of Athens Metro Line 4 around 2029, continued phases of the Ellinikon coastal development, the extension of the Thessaloniki Metro network, and various EU-funded infrastructure investments under the Recovery and Resilience Plan.
The single biggest uncertainty that could alter the 3 to 5 year outlook for Greece is a potential tourism shock from geopolitical instability, climate events, or a major economic downturn in key source markets, which could quickly dampen international demand that has been a key price driver in recent years.
Are demographics or other trends pushing prices up in Greece in 2026?
As of early 2026, demographic trends are having a mixed but net positive impact on housing prices in Greece, with urban concentration and household formation in Athens and Thessaloniki creating sustained demand despite the country's overall aging and shrinking population.
The specific demographic shifts most affecting prices in Greece include continued internal migration from rural areas and smaller cities to Athens and Thessaloniki, an increasing share of single-person and smaller households requiring more units, and a growing expatriate and retiree population attracted by lifestyle and tax incentives.
Beyond demographics, non-demographic trends pushing prices in Greece include strong international investment flows channeled through the Golden Visa program, the rise of remote work enabling foreigners to live in Greece while earning abroad, and persistent undersupply of modern energy-efficient housing in desirable locations.
These demographic and trend-driven price pressures in Greece are expected to continue for at least the next 5 to 10 years, as urban concentration, tourism-linked demand, and foreign buyer interest show no signs of reversing, though the intensity may moderate as supply gradually improves and regulatory changes take effect.
What scenario would cause a downturn in Greece in 2026?
As of early 2026, the most likely scenario that could trigger a housing downturn in Greece would be a combination of significantly higher interest rates making mortgages unaffordable, a major tourism disruption reducing international demand, and further regulatory tightening on foreign investment channels like the Golden Visa program.
Early warning signs that would indicate such a downturn is beginning in Greece include a sharp increase in days on market across multiple regions, widespread asking-price reductions on listing portals like Spitogatos, declining tourism arrivals and receipts reported by the Bank of Greece, and a noticeable drop in Golden Visa applications and foreign transaction volumes.
Based on historical patterns in Greece, a potential downturn could realistically see price declines of 10% to 25% in affected segments, though prime international locations would likely prove more resilient, and a repeat of the 40% crash seen during the debt crisis would require a severe and prolonged economic shock rather than a typical cyclical correction.
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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 | It's Greece's central bank publishing official house-price indices based on banking valuations and transaction data. | We used it as our anchor for nationwide and city-level price momentum going into 2026. We also relied on its methodology to understand what the index captures and its limitations. |
| Spitogatos | It's Greece's largest property portal with transparent methodology for asking prices broken down by area. | We used it to map where prices and rents are highest or rising fastest at the neighborhood level. We clearly labeled it as asking-price data and cross-checked trends with Bank of Greece indices. |
| ELSTAT | It's Greece's national statistics office reporting official construction permits and building activity over time. | We used it to judge whether new supply is accelerating or still constrained. We connected supply trends to where buyers face competition and premiums for new builds. |
| Eurostat House Price Index | It's the EU's official cross-country house price index allowing comparable analysis across European markets. | We used it to compare Greece's volatility and cycle timing versus neighbors like Spain, Portugal, and Italy. We triangulated it with Bank of Greece data to ensure consistency. |
| European Central Bank | It's the official source for euro-area policy rates that directly influence mortgage pricing across Greece. | We used it to explain why financing conditions matter for demand in 2026. We translated rate direction into practical implications for buyers. |
| FRED/BIS | It's a widely used public macro database distributing Bank for International Settlements housing indicators. | We used it to add a long historical lens on Greece's price cycles over decades. We relied on it for downturn resilience context rather than current street-level pricing. |
| Greek Ministry of Migration | It's the official government site describing Golden Visa requirements, documents, and fees. | We used it to ground the official process steps and paperwork in an authoritative source. We relied on it as the baseline before interpreting recent rule changes. |
| Watson Farley & Williams | It's a top-tier international law firm providing professional legal analysis with accountability. | We used it to explain what changed for foreign buyers under Golden Visa Law 5100/2024. We cross-checked it with official ministry information for accuracy. |
| AP News | It's a global wire service reporting on national policy measures affecting short-term rentals. | We used it to identify regulation risk affecting rental strategies and neighborhood dynamics. We grounded insider sentiment in actual policy changes. |
| AirDNA | It's a widely used industry dataset for short-term rental demand, occupancy, and revenue metrics. | We used it to estimate short-term rental demand strength and seasonality in Athens. We triangulated it with Bank of Greece tourism receipts to ensure consistency. |
| Global Property Guide | It's an independent research platform aggregating official data and providing market analysis for international investors. | We used it to cross-reference price trends, affordability metrics, and construction data. We relied on its synthesis of multiple Greek sources for a comprehensive view. |