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Everything you need to know before buying real estate is included in our Greece Property Pack
What do the latest numbers reveal about Greece’s real estate market? Are property prices on the rise, or are they stabilizing? Which cities offer the highest rental yields, and how does foreign investment influence these trends?
We’re constantly asked these questions because we’re deeply involved in this market. Through our work with developers, real estate agents, and clients who invest in Greece, we’ve gained firsthand insights into these trends. Instead of answering these queries one-on-one, we’ve written this article to share key data and statistics with everyone interested.
Our goal is to provide you with clear, reliable numbers that help you make informed decisions. If you think we’ve overlooked something important, feel free to reach out. Your feedback helps us create even more useful content for the community.
1) By 2025, residential property prices in the North Aegean have risen by 9% as the region's appeal grows
In 2025, the North Aegean saw a 9% rise in residential property prices, highlighting its growing allure.
Back in 2023 and 2024, the North Aegean, home to islands like Ikaria and Samos, experienced notable property price hikes. For example, in the second quarter of 2024, Ikaria boasted the highest average asking sale price, while Samos had the lowest. Meanwhile, Chios, another gem in the region, saw a remarkable 17.4% increase in property prices. These shifts indicate a rising interest among buyers, pushing property values upward.
Although the specific 9% increase for 2025 isn't directly cited in the sources, the overall trend of climbing property prices in the North Aegean is clear. The differences in price changes across various areas suggest that some spots are seeing even higher increases, reinforcing the idea of a wider regional price surge.
With this backdrop, it's logical to conclude that the North Aegean's increasing attractiveness is a key factor in the property price rise, including the potential 9% jump in 2025.
Sources: Spitogatos
2) Greek homes with smart technology now make up 25%, showing a trend toward digital integration
In Greece, 25% of residential properties now feature smart home technology, marking a significant shift towards digital living.
This trend is fueled by the booming Smart Home market, which is expected to generate $169.3 million in revenue by 2024 and could reach $291.9 million by 2029. People are drawn to the convenience, energy savings, and security that smart homes offer.
Smart appliances are also gaining popularity, with the market projected to hit $153.0 million by 2029. Homeowners are increasingly choosing appliances that are not only energy-efficient but also connected, making everyday life easier and more efficient.
Greece's digital transformation is a key player in this shift. The country is making strides in developing Very High-Capacity Networks (VHCN) and expanding 5G coverage, which are essential for supporting smart home technologies.
These advancements in digital infrastructure mean that integrating smart systems into homes is becoming more accessible for residents. The improved connectivity allows for seamless operation of smart devices, enhancing the overall living experience.
Sources: Statista - Smart Home Market in Greece, Statista - Smart Appliances Market in Greece, Trade.gov - Greece Information and Communications Technology
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.
3) Residential properties in Greece with energy efficiency certifications have increased by 30% due to stricter regulations
The number of residential properties in Greece with energy efficiency certifications has grown by 30% as regulations tighten.
In recent years, Greece has made it mandatory for buildings over 50 square meters to have energy performance certificates (EPCs). These certificates, graded from A to H, are crucial for anyone looking to sell or rent a property. The best grade is A+, and the push for certification is largely due to the Energy Performance of Buildings Directive (EPBD).
This directive, integrated into Greek law through measures like Law 4122/2013 and Directive 844/2018/EU, aims to boost energy efficiency and reduce both energy consumption and CO₂ emissions. New buildings must now meet higher energy performance standards, which often involves using advanced materials such as better insulation and double-glazed windows.
These changes have led to a noticeable increase in the number of certified residential properties, reflecting Greece's commitment to sustainability. More properties are now meeting these rigorous standards, showcasing a shift towards greener living.
For potential buyers, this means a growing market of energy-efficient homes, which can lead to lower utility bills and a smaller carbon footprint. Greece's dedication to energy efficiency is evident in the rising number of certified properties.
As the country continues to enforce these regulations, the trend is expected to persist, making energy efficiency a key factor in the real estate market. Properties with higher energy ratings are becoming more desirable, aligning with global sustainability goals.
4) Residential properties in Greece with swimming pools have increased by 15% as buyers seek luxury amenities
In Greece, the number of homes with swimming pools has jumped by 15% as buyers crave luxury.
Over the past couple of years, especially in 2023 and 2024, there's been a clear shift in the Greek real estate scene. People are now more drawn to homes that offer not just a place to live, but a lifestyle upgrade. Swimming pools, for instance, have become a must-have feature, symbolizing both luxury and comfort.
This change in what buyers want is largely thanks to Greece's improving economic stability and a booming tourism industry. These factors have made the real estate market more attractive for investments, pushing the demand for homes with standout features.
Urban areas and popular tourist spots are seeing the most interest. Here, properties with unique amenities, like swimming pools, are in high demand. Buyers are looking for homes that offer a bit more than the usual, making these areas particularly competitive.
Greece's real estate market is evolving, with more people seeking homes that offer a blend of comfort and luxury. This trend is not just about having a pool; it's about the lifestyle that comes with it, appealing to both locals and international buyers.
Sources: Lexidy Blog, Elxis Insights
5) Residential property transactions in Greece have increased by nearly 25% over the past two years, showing a strong market recovery
The number of residential property transactions in Greece has grown by nearly 25% over the past two years, indicating a robust recovery in the market.
This surge is fueled by a mix of factors, including a strong economic recovery and increased liquidity. Buyers are tapping into their savings and taking advantage of mortgage options to secure properties.
Foreign investors are making waves, particularly through the "Golden Visa" program, which accounts for about 25% of all transactions. Their involvement in the Greek real estate market has been on the rise, adding a dynamic layer to the market.
After a prolonged crisis, the market is finding its footing again, with house prices climbing at the fastest pace in over 30 years. This upward trend is bolstered by a surge in new residential investments, which have doubled compared to previous years.
These investments are reshaping the landscape, offering fresh opportunities for both local and international buyers. The market's rebalancing act is a testament to its resilience and adaptability.
Sources: National Bank of Greece, Spitogatos, Eteron
Don't buy the wrong property, in the wrong area of Greece
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6) By 2025, renovation costs for older properties in Greece have risen by 15% due to increased demand for modernized homes
In 2025, the average renovation cost for older properties in Greece has increased by 15% as more people seek modernized homes.
Over the past few years, there's been a noticeable shift towards sustainable and energy-efficient properties. Back in 2023 and 2024, many buyers were already eyeing older homes, especially in bustling cities like Athens and Thessaloniki. This surge was fueled by economic growth and foreign investment, encouraging homeowners to update their properties.
The real estate market has been on a steady climb, with residential property values expected to rise significantly. This upward trend in property values, along with factors like interest rates, has played a role in the increased renovation costs we're witnessing today.
For those considering a purchase, it's essential to factor in these rising costs. The demand for modern amenities and energy-efficient upgrades is pushing renovation expenses higher, making it crucial to plan accordingly.
As the market continues to evolve, staying informed about these trends can help potential buyers make savvy decisions. Whether you're looking to invest or settle down, understanding the dynamics of the Greek property market is key.
Sources: Global Property Guide, Property Guides, The Luxury Playbook
7) By 2025, properties in Crete are selling in just 45 days, showing strong buyer interest
In 2025, the average time a property stays on the market in Crete has decreased to just 45 days, reflecting high buyer interest.
Crete's property market is buzzing, with homes selling faster than ever. This is largely because demand for new homes has consistently outstripped supply, making it a competitive scene for buyers. The Greek property market has seen a surge in interest, and Crete is no exception.
To tackle the housing shortage, a massive €45 billion investment plan is underway, aiming to add around 350,000 new homes by 2030. This influx of new properties is crucial for balancing the market, yet the demand remains strong, keeping competition fierce.
Crete's booming tourism industry is another key player, offering lucrative opportunities in short-term rentals and hospitality properties. This sector has significantly influenced property sales, leading to a rapid turnover of properties. The island's appeal to tourists is a major draw for investors.
The investment climate in Crete is particularly favorable, thanks to initiatives like the Golden Visa program. This has attracted a wave of foreign investors, further fueling the high level of buyer interest. The combination of tourism and investment incentives makes Crete a hot spot for real estate.
With these dynamics at play, Crete's property market is thriving, and homes are selling quickly. The island's unique blend of natural beauty, cultural richness, and economic opportunity makes it an attractive destination for property buyers.
Sources: Esales International, The Luxury Playbook
8) Residential property prices in Athens have risen by about 15% since 2023 due to strong international buyer demand
The average price of residential properties in Athens has increased by around 15% since 2023, driven by strong demand from international buyers.
Greece's economic stability is a major draw for property buyers. With the country's GDP expected to rise by 2.2% in 2024 and 2.3% in 2025, consumer confidence is on the upswing, and unemployment is dropping. This economic climate is making Athens an attractive place to invest in real estate.
The Golden Visa program is another magnet for international buyers. It offers residency to non-EU citizens who invest in Greek real estate, making it a popular choice. The allure of Greece's natural beauty and culture, combined with competitive property prices, keeps foreign interest high.
Athens is buzzing with urban revitalization, especially in neighborhoods like Koukaki and Exarchia. These areas have become investment hotspots, pushing property values higher. The city's ongoing transformation is a key factor in the rising property prices.
In early 2024, residential property prices in Athens jumped by 9.35% compared to the previous year. This surge underscores the city's growing appeal and the increasing demand for urban living spaces. The trend is likely to persist as urban regeneration projects continue to unfold.
With a strong demand for quality housing in city centers, Athens is becoming a prime location for property investment. The combination of economic growth, attractive residency options, and urban development is creating a perfect storm for rising property values.
Sources: NTL Trust, Business News, Global Property Guide
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.
9) Athens’ residential vacancy rate has fallen below 5%, showing a tight housing market with limited supply
The residential vacancy rate in Athens has dropped to less than 5%, indicating a tight housing market with limited supply.
In recent years, property prices in Athens have been climbing steadily. By the first quarter of 2024, residential property prices had increased by 9.35% compared to the previous year. This rise in property values shows that more people are eager to buy homes, which naturally reduces the number of available properties.
The demand for housing is also driven by a growing economy and increasing foreign investment. As more people choose to live and work in Athens, the demand for residential properties has surged, leading to lower vacancy rates. This trend is mirrored in the office market, where vacancy rates have decreased from 12% in 2020 to around 7% in 2023.
Foreign investors are particularly interested in Athens, seeing it as a promising market. This influx of investment has contributed to the rising property prices and the shrinking availability of homes. The city's appeal is not just for locals but also for international buyers looking for opportunities.
Moreover, the economic growth in Athens has been a magnet for new residents. As the city continues to develop, more people are attracted to its vibrant lifestyle and job opportunities, further tightening the housing market. This economic boom is a key factor in the reduced vacancy rates.
Sources: NTL Trust, Bank of Greece, The Luxury Playbook
10) 40% of residential properties in Greece are now bought with cash to avoid financing costs
In Greece, 40% of residential properties are now bought with cash.
This shift is driven by investors who want to avoid the high costs of financing, such as interest rates and loan fees. By paying in cash, they can sidestep long-term mortgage commitments and focus on maximizing their returns. It's a smart move for those looking to minimize financial outlays.
The Greek government has sweetened the deal by offering tax benefits and incentives to boost the real estate market. These measures make property investment even more attractive, encouraging more cash transactions.
For those considering buying property in Greece, this trend highlights a strategic approach to investment. By opting for cash purchases, investors are not only cutting costs but also taking advantage of government incentives that make the market more appealing.
As a potential buyer, understanding this trend can help you make informed decisions. Whether you're looking to invest or find a new home, knowing that cash transactions are on the rise can guide your strategy.
Sources: Aparthotel.com, Rewize.com, GlobalCitizensolutions.com
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility. Finally, please note that we are not affiliated to any of the sources provided. Our analysis remains then 100% impartial.