Greece’s residential property market continues to show steady growth in 2025, despite global economic challenges. Demand for housing remains strong among both locals and foreign investors, fuelling price increases and the development of new projects.
Current market situation
- Price growth: according to The Luxury Playbook, the average value of residential property in Greece in 2024 was $292,700 and is expected to reach $364,500 by 2029. This indicates a steady increase in housing prices.
- Foreign investment: the Golden Visa programme continues to attract foreign investors. More than 11,870 visas were issued in 2024, bringing more than €2.9 billion of foreign direct investment into the property sector.
- Tourism and rentals: growth in tourism is fuelling demand for short-term rentals, particularly in popular tourist destinations such as Athens, Thessaloniki and the islands. However, the government is imposing restrictions on new licences for short-term rentals in central Athens to balance the interests of locals and tourists.
Forecast for 2026
- Stabilisation of price growth: house price growth is expected to slow down but remain positive. Annual growth is forecast at 3.2% to 3.7% by 2029.
- Infrastructure development: major projects such as the Hellenikon on the Athens Riviera continue to attract investment and contribute to infrastructure development, making the region more attractive to buyers.
- Interest rate impact: rising interest rates may affect the availability of mortgages, especially for local buyers. This could lead to lower demand for housing in some segments of the market.
Recommendations for investors
- Consider investing in developing areas: areas with developing infrastructure and high potential for price growth can offer attractive investment opportunities.
- Keep up to date with changes in legislation: keep abreast of new rules and restrictions, especially those relating to short-term rentals, to avoid unexpected obstacles.
- Assess risks: consider property investment opportunities. However, it is important to carefully analyse the market and consider all possible risks when making investment decisions.