The Greek real estate market is poised to extend its upward trajectory in 2025-2026, underpinned by sustained foreign capital inflows, limited housing supply, and resilient demand across both metropolitan centres and prime coastal regions. Analysts forecast annual price growth of 6-8%, with Athens and Thessaloniki continuing to dominate the urban segment, while Crete, Mykonos, and Santorini consolidate their status as elite international destinations. 

Strategic government measures, including favourable tax regimes and the Golden Visa residency programme, together with the country’s thriving tourism sector, provide a robust foundation for continued appreciation, particularly in premium and luxury segments. 

 

How Did the Greek Real Estate Market Perform in 2024?

In 2024, Greece’s property marketsustained robust growth, with prices rising by 8.7%, comfortably outpacing inflation (4.4%). Crete led the surge with an exceptional 14.1% increase, followed by other tourist-driven regions, while Athens posted a solid 7.7%. Across popular areas, the average housing price reached €2,550 – 2,600 per sq.m. 

This momentum was fuelled by resilient demand, restricted supply, and the country’s stable macroeconomic performance. Factors that continue to underpin investor confidence.

• Property prices continue to rise
  
  While 2024 marked a moderation from the sharp 13.9% rise seen in 2023, property prices still advanced by 8.7%, notably higher than inflation (4.4%). Transaction activity also accelerated, climbing 15.8% to nearly 28,700 contracts. 

Price performance varied by asset type: new-build properties gained 10.1% year-on-year, outpacing resales, which rose by 7.8%.

• Dynamics in major cities outpaced national prices
  
  Major urban centres continued to outperform the national average. In Athens, apartment prices climbed by 7.7%, with the southern districts commanding the highest values at €4,052 per sq.m. Suburban areas averaged €3,570 per sq.m.

Thessaloniki followed with 6.5% growth and an average price of €2,258 per sq.m. Meanwhile, prime properties in tourist regions and islands, including Crete, Corfu and the Aegean, reached as high as 3,590 per sq.m. Nationwide, residential property values held steady in the €2,550-2,600 per sq.m range.

• Stable economy and housing shortage fuel growth

Greece’s economy expanded by 2-2.3% in 2024, while over 46,000 new housing units were delivered. Despite this additional supply, prices remained resilient, underscoring the strength of underlying demand.

In Athens, Thessaloniki and leading island markets, persistent appetite from both domestic and international buyers, coupled with constrained large-scale development, kept values trending higher. 

Greek Property Prices by Region, July 2025

Region	Annual Growth	Avg. Price €/ m²	Investor Insight
All Greece	8.7%	€2,622	Prices remain above inflation, sustained demand
Athens | Centre	11.8%	€2,524	Solid appreciation in core urban districts
Athens | South	8.1%	€4,052	Highest values in Attica; prime lifestyle areas
Thessaloniki	6.46%	€2,258	Second city; strong student & tourism pull
Crete	14.12%	€2,425	Fastest growth nationwide; resort demand
Thessaly	4%	€1,308	Lowest entry point; value-driven segment
Corfu	12.07%	€2,693	Strong international interest; limited supply

 

What Are the Rental Yields in Greece?

Rental yields in Greece in 2025 average 4.5-5.6%, while smaller apartments in Athens can generate up to 8.25%. Annual rental growth is running at 5-6%, making the fastest pace in a decade.

Prime opportunities are concentrated in central Athens, Thessaloniki, and emerging markets such as Mytilene and Ikaria, where demand is increasingly driven by foreign tenants and digital nomads.

• Rental market trends
  In Athens, average rental yields hover around 4.5%, with small apartments under 75 m² achieving up to 8.25%, considerably higher than comparable European cities like Berlin, Paris, or Amsterdam. Nationwide, rental rates climbed 5-6% over the year, the steepest rise in ten years. 
• Long-term rentals outperform
  City-centre long-term rentals are particularly attractive. Central Athens yields reach 5.6%, Thessaloniki 5.2%, and Heraklion 4.3%. As of March 2025, the median rental price across Greece stood at €10.11 per sq.m, and €11.97 in Attica, reflecting sustained upward momentum. 
   
• Emerging regional hotspots
  Remote or less touristy areas, such as Mytilene and Ikaria, are increasingly favoured by digital nomads and international investors, boosting yields. In Athens’ new builds, occupancy levels hit 94%, with gross yields of 4.5-5.2% and net yields around 3.8% after expenses.

Greek Rental Yields and Rates, 2025

Region	Yield (%)	Avg. Rental €/m²	Investor Insight
Greece (average)	4.6%	€10.31	Fastest rental growth in a decade
Athens (average)	4.9%	~€10–12	Strong demand from tourists and students
Athens (≤75 m²)	up to 8.25%	€11–12	Highest yields in the Greek market
Athens | Centre	5.6%	~€11	Stable long-term segment, popular among expats
Thessaloniki	5.2%	~€9–10	Driven by tourism and universities
Heraklion (Crete)	4.3%	~€8–9	Growing digital nomad and tourist demand
Attica (region)	4.5–5.2%	€12.07	New build occupancy at 94%; strong yields & prices

 

How Has the Golden Visa Affected the Greek Property Market?

The Greek Golden Visa continues to play a pivotal role in the country’s property market, accounting for roughly 10% of all transactions. In 2024 alone, a record 9,407 applications were submitted – an 11% increase year-on-year.

Transaction volumes reached €23.2 billion, with foreign real estate investment totalling €2.75 billion, much of it tied directly to Golden Visa acquisition. Non-resident investment expanded by nearly 29% in a single year. Between 2023 and 2024, international buyers purchased approximately 17,900 properties worth over €4.47 billion, with Golden Visa deals representing about 10.8% of the market. 

 

How to Obtain Greek Residency by Buying Property?

Greek residency can be secure through the country’s Golden Visa programme by purchasing property at or above the required threshold. The scheme grants investors and their families a five-year renewable residence permit, with eligibility for permanent residency after five years and citizenship after seven years of residence. Properties acquired may also be rented on a long-term basis, offering additional income potential. 

Investment thresholds as of 1 September 2024:

• €800,000: minimum for properties of at least 120 m² in prime areas such as Attica, Thessaloniki, Mykonos, Santorini, and other islands with populations over 3,100. 
• €400,000: minimum for properties of at least 120 m² in secondary regions, including Halkidiki and Peloponnese. 
• €250,000: minimum for residential assets converted from commercial use or historic properties requiring restoration, valid across all regions and property sizes.  

The most popular and cost-efficient route is renovated housing, where developers oversee the restoration. This approach reduces administrative complexity and ensures compliance with modern energy and safety standards. It is particularly attractive in Athens, where many older commercial buildings are eligible for conversion. 

Key Advantages of the Greek Golden Visa

• Family inclusion: Spouses, children up to 21, and parents are eligible under a single investment. 
• Quality of life: Full access to EU healthcare, education, and Europe’s financial system. 
• Cost efficiency: One of the EU’s most affordable residency options, with entry from €250,000 in real estate and no non-refundable state fees.
• Flexibility: No minimum stay requirements; investors may reside abroad while retaining Greek residency.
• Mobility: Visa-free travel across 29 Schengen states.
• Wealth benefits: Strong potential for capital appreciation (up to 10% annually in prime regions) and rental yields of 4-5%.
• Tax regime: Attractive Non-Dom framework. A flat €100,000 tax on global income, regardless of amount.  

 

What Are the Best Cities and Regions in Greece for Property Investment?

• Athens
  Greece’s capital remains the undisputed leader in both transaction volume and international investor appeal. Average housing costs stand at approximately €2,254 per sq.m in central districts, rising to €3,895 in the prestigious southern suburbs and €3,167 in the north. 

Over the past year, prices increased by 7.6%, with select coastal and central neighbourhoods recording even higher gains. With world-class infrastructure, booming tourism, and an active new-build pipeline, Athens continues to represent a stable and compelling investment market.

• Thessaloniki
  The country’s second city demonstrates strong momentum, with prices advancing 6.5% year-on-year. Average values are around €2,452 per sq.m, though certain districts offer entry points from as low as €1,200 – providing opportunities for both capital growth and value-driven acquisitions. 

Thessaloniki benefits from its position as Greece’s northern economic hub, supported by expanding tourism, a thriving port, and active urban development.

• Piraeus, Corfu, and Crete
  These markets also attract consistent investor attention. In Piraeus, average values are approximately €2,513 per sq.m, underpinned by port expansion and cruise tourism. On Corfu, housing averages €2,167 per sq.m, supported by sustained European demand. In Crete, values range between €1,625 and €2,425 per sq.m, with resort properties proving especially sought after.  
• Santorini and the elite islands
  At the top end of the market, premium islands command exceptional values: Santorini averages €7,500 per sq.m, while ultra-prime destinations such as Kynthos and Antiparos reach €9,000-9,800 per sq.m. 

These exclusive enclaves are suited to investors targeting the luxury segment and maximising yield potential.

 

Greek Real Estate Market Forecast for 2025–2026

2025-2026 market outlook

In 2025, housing price growth in Greece is expected to slow to 3.7-3.2% nationwide, signalling gradual stabilisation after recent rapid surges. Athens, Thessaloniki and the tourist islands are likely to remain the most dynamic markets, with annual growth in those areas of 6-7%.

Tax measures influencing demand

New tax measures will shape investor returns. For new builds purchased before the end of 2025, the standard 24% VAT does not apply; instead, only the 3.09% property transfer tax is payable. In addition, the 15% capital gains tax on property sales by individuals is suspended until 31 December 2026, improving short-term affordability for owners.

2026 projection and segment dynamics

Analysts expect further slowing in 2026 (below 3.4%), though coastal, prime and island properties may still record growth of 5-7%. This moderation reflects increased supply from new construction and partial market saturation.

Premium segments such as high end seafront villas and central Athens residences, are expected to retain strong demand owing to constrained supply and sustained foreign interest. 

Professional guidance

For a sound investment strategy, professional support is essential. Astons has experience guiding investors through residency-by-investment programmes and property selection in Greece. Our specialists can assist with property assessment, yield calculations and the full transactional process – tax, residency, and rental considerations included. Contact us for a tailored consultation aligned to your objectives and budget.