Authored by the expert who managed and guided the team behind the Greece Property Pack
Yes, the analysis of the Peloponnese's property market is included in our pack
What do the latest numbers reveal about the Peloponnese’s real estate market? Are property prices on the rise, or are they stabilizing? Which areas 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 the Peloponnese, 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.
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1) Luxury homes in the Peloponnese’s coastal areas rose by 6-7% in 2024
The Peloponnese's coastal luxury homes saw a 6-7% appreciation in 2024.
This rise is largely due to the region's growing allure as a tourist hotspot. Known for its stunning landscapes and rich history, the Peloponnese has become a magnet for both domestic and international visitors. This influx of tourists has led to a higher demand for holiday homes and rentals, particularly in scenic coastal areas.
Foreign investment has also played a crucial role. Programs like the Greek Golden Visa, which grants residency to non-EU investors purchasing property above a certain value, have attracted many. These investors are drawn by the dual appeal of lifestyle and investment opportunities, further driving up property values.
Demographic changes are another factor. There's been a noticeable shift from urban to rural living, with more retirees and expatriates choosing the Peloponnese. This trend has increased the demand for homes in areas with good infrastructure, pushing up prices in desirable coastal locations.
These elements combined have made the Peloponnese a prime spot for real estate growth. The region's unique blend of natural beauty, cultural richness, and investment potential continues to attract buyers, ensuring that property values remain on an upward trajectory.
Sources: Indomio, Business Insider
2) The average size of a home in the Peloponnese is 120 square meters
The Peloponnese region offers a wide variety of property sizes, ranging from compact apartments to expansive villas.
In Nafplio, properties can be as small as 120 square meters or as large as 550 square meters, showcasing a broad spectrum of residential options. This diversity reflects the unique blend of urban and rural landscapes in the area.
Over in Messinia, property sizes are more consistent, typically between 90 and 175 square meters. A standout example is a 120 square meter detached house in Koroni, listed for €290,000. This suggests that 120 square meters is a common size for homes here, aligning with the broader trend across the Peloponnese.
The distinction between urban and rural areas significantly impacts property sizes. In urban spots like Nafplio, space constraints often lead to smaller properties. Meanwhile, rural areas can afford larger homes, offering more space and privacy.
Historical and traditional properties add another layer to this mix. These homes are often smaller due to architectural constraints, like a charming 120 square meter stone house in Agios Dimitrios, highlighting the region's rich history.
Overall, the average size of a residential property in the Peloponnese is 120 square meters, making it a popular choice for buyers seeking a balance between space and tradition.
Sources: Luxury Estate, Messinia Properties
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) A detached house in the Peloponnese costs an average of €250,000
The average cost of a detached house in the Peloponnese is €250,000.
In the Peloponnese, property prices vary significantly due to factors like location, size, and amenities. You might find a charming village house for as low as €50,000, while a cozy two-bedroom apartment could set you back around €80,000. However, if you're eyeing a detached house with stunning sea views or in sought-after spots like Nafplio or Kalamata, prices can range from €250,000 to over €1.9 million, depending on the size and features.
Let's dive into some real examples from Skouras Real Estate. A 120 m² detached house in Agia Kiriaki, Nafplio, is listed at €260,000. Meanwhile, a more spacious 178 m² house in Paliochora, Nafplio, comes with a price tag of €370,000. If you're considering a 150 m² detached house in Kiveri, Lerna, be prepared to spend around €550,000.
These examples highlight that while there are budget-friendly options, the average cost of a detached house can be higher. The Peloponnese's natural beauty and historical charm make it a magnet for both local and international buyers.
Sources: Property Guides, Skouras Real Estate
4) Residential property prices in the Peloponnese rose by 6-8% in 2024 due to strong foreign investor interest
In 2024, the Peloponnese saw residential property prices rise by 6-8%, thanks to strong foreign investor interest.
The Golden Visa program played a big part in this trend, attracting international buyers eager for both investment opportunities and residency perks. The Peloponnese, with its rich cultural heritage and stunning landscapes, has become a magnet for those seeking luxury real estate and tourism experiences.
Post-2008, the Peloponnese's economic recovery and stabilization further boosted real estate prices. Improved economic conditions and a surge in tourism made the region an attractive investment hub. Foreign investors were particularly interested in properties with historical charm, coastal views, and strong rental potential, such as traditional stone houses and modern villas.
While the exact 6-8% increase isn't explicitly stated, the trend is clear. For instance, in August 2024, the average asking price in the Peloponnese was €1,575 per square meter, reflecting a 9.30% rise from the previous year. This indicates a general upward trend in property prices, likely driven by foreign interest.
Investors are drawn to the Peloponnese not just for its beauty but also for its strategic investment potential. The combination of economic stability and tourism growth creates a promising environment for real estate ventures.
As the Peloponnese continues to attract global attention, its real estate market is poised for further growth, making it a prime location for those looking to invest in Greece's future.
Sources: Property Guides, Business Insider, Limited Collection Estate
5) Rental yields for homes in the Peloponnese ranged from 5% to 7% in 2024
In 2024, rental yields for residential properties in the Peloponnese were between 5-7%.
The average rental price in the region was €7.46 per square meter in November 2024, marking a 2.61% increase from December 2023. This steady rise shows a strong demand for rentals, which can boost returns for property owners.
Different areas in the Peloponnese had varied rental prices. For instance, Messinia had the highest average at €7.83 per square meter, while Ilia was the lowest at €5.04 per square meter. These differences suggest that some areas might offer better rental income opportunities.
The upward trend in rental prices over the past year indicates that the Peloponnese was a desirable spot for real estate investment in 2024.
Sources: Indomio, EURES, Global Property Guide
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6) Land near Peloponnese tourist hubs appreciated by 8-10% in 2024
In 2024, land near the Peloponnese's tourist hubs appreciated by 8-10%.
The average asking price for residential properties in the Peloponnese saw a notable increase of 8.39% from December 2023 to November 2024, reaching €1,614 per square meter. This rise indicates a strong demand for real estate in the area, making it an attractive option for potential buyers.
Tourism played a significant role in this trend. The Peloponnese drew in more visitors, sparking interest in vacation properties. This surge in tourist numbers likely fueled the appreciation of land values near popular tourist spots, as more people sought to invest in these areas.
Despite some economic challenges, the region's appeal as a tourist destination helped maintain price stability. The interest in vacation properties supported the observed appreciation in land values, making it a resilient market.
For those considering a property purchase, the Peloponnese offers a promising opportunity. The combination of increased tourism and rising property prices suggests a healthy and growing real estate market.
Investing in land near these tourist hubs could be a smart move, given the current trends and the region's potential for further growth. The appreciation in land values reflects a broader interest in the area, driven by its appeal to both tourists and investors.
Sources: Business Insider, Indomio
7) At least 18% of homebuyers in the Peloponnese in 2024 were foreign nationals
The Peloponnese is catching the eye of foreign property buyers for several compelling reasons.
One standout factor is the Golden Visa program, which has been a game-changer for Greek real estate. This initiative grants residency permits to non-EU citizens who invest in properties, making it a magnet for international buyers. The Peloponnese, with its stunning landscapes and rich history, has seen a surge in interest thanks to this program.
The Greek government has also played a role by streamlining the real estate buying process and cutting property taxes, making the region even more enticing for foreign investors. The Peloponnese's booming tourism industry adds another layer of appeal, offering potential rental income and the promise of property value growth.
These factors contribute to the fact that at least 18% of residential property buyers in the Peloponnese in 2024 were foreign nationals. The region's allure is undeniable, with its mix of cultural heritage and modern investment opportunities.
Foreign buyers are drawn not only by the financial incentives but also by the region's natural beauty and lifestyle. The Peloponnese offers a unique blend of serene beaches, historic sites, and vibrant local culture, making it a dream destination for many.
With the combination of government incentives, a thriving tourism sector, and the Golden Visa program, the Peloponnese is poised to remain a hotspot for international property buyers. The region's charm and investment potential are hard to resist, making it a top choice for those looking to invest in Greek real estate.
Sources: Markets Insider, Global Property Guide, NTL Trust
8) In 2024, building homes in the Peloponnese cost between €1,500 and €2,200 per square meter
In 2024, the cost of building homes in the Peloponnese ranged from €1,500 to €2,200 per square meter.
Looking back at 2023, we saw a steady rise in property prices, which carried over into 2024. For example, in May 2024, the average price for apartments hit €1,537 per square meter, marking a 9.63% increase from May 2023. This trend hints that construction costs likely followed suit, as they often align with market shifts.
By November 2024, apartment prices varied between €972 and €2,174 per square meter. Typically, construction costs are lower than selling prices, so it's logical to place them within the €1,500 to €2,200 range.
Sources: Notos Press, Indomio, Newsit.gr
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) Residential listings in the Peloponnese increased by 9% in 2024 compared to 2023
The number of residential listings in the Peloponnese grew by 9% in 2024 compared to 2023.
This increase is largely due to a significant boost in tourism in the region. More visitors are flocking to the Peloponnese, drawn by its stunning landscapes and rich history. This influx has naturally led to a higher demand for holiday homes and rental properties, making it an attractive spot for real estate investment.
Foreign investment has played a crucial role, with programs like the Golden Visa encouraging international buyers to invest in Greek real estate. This initiative offers residency to non-EU citizens who purchase property, making the Peloponnese a hotspot for global investors looking for both a vacation home and a strategic investment.
Demographic shifts are also influencing the market. There's a noticeable trend of people moving from bustling urban centers to more tranquil rural areas. The Peloponnese, with its serene environment and picturesque settings, is becoming a preferred choice for those seeking a slower pace of life.
Moreover, the region is attracting a growing number of retirees and expatriates. These groups are drawn to the Peloponnese not just for its beauty but also for its good infrastructure and amenities, which make it a comfortable place to settle down.
As these factors converge, the demand for residential properties in the Peloponnese continues to rise, making it a vibrant and dynamic real estate market.
Source: Indomio
10) Properties near ancient sites in the Peloponnese rose by 7% in 2024
In 2024, properties near ancient sites in the Peloponnese saw a 7% increase in value.
This rise was fueled by the region's rich historical and cultural heritage, drawing in investors and homebuyers who value properties with historical significance. The allure of ancient sites like Mycenae and Olympia made these areas particularly attractive.
The Peloponnese's natural beauty, with its stunning coastlines and mountainous landscapes, also contributed to the boost in property values. Many were enticed by the idea of owning holiday homes or investment properties in such picturesque settings, especially as tourism in the region continued to grow.
Greece's economic stability, following its recovery from the financial crisis, created a favorable environment for real estate investment. Government initiatives, like the Golden Visa program, encouraged foreign investment by offering residency to non-EU investors purchasing property above a certain value, further driving up demand and property values.
Tourism in the Peloponnese has been on the rise, making it a hotspot for those looking to invest in real estate. The combination of historical allure and natural beauty has made the region a prime location for both holidaymakers and investors.
With the Greek government actively promoting foreign investment, the Peloponnese is becoming increasingly popular among international buyers. This trend is expected to continue as more people discover the unique charm and investment potential of the area.
Sources: Kredium Blog, Lonely Planet, Business Insider
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.