Greece, A Rising Star in Real Estate Growth and Investment

Greece is experiencing a real estate boom driven by strong tourism growth, economic recovery, and increasing foreign investment. Property values have been steadily rising, fueled by high demand for luxury homes, vacation rentals, and urban developments, particularly in Athens, Santorini, and Mykonos.

Trajectory Of Greek Real Estate Market

From 2017 to 2023, property prices surged by 77% in the Attica region and 53.8% nationwide, with an additional 11% increase in 2024.

While experts predict a slower but steady rise in demand, government tax incentives and infrastructure improvements continue to make Greece a very attractive market for investors.

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Factors Contributing to the Growth of the Greek Real Estate Market:

  1. Economic Stabilization: The economy has stabilized, driving sustained real estate growth.

  2. Foreign Investment: Strong and continuous foreign investment is boosting the property market.

  3. Urbanization: Major cities like Athens and Thessaloniki are seeing increased buyer interest due to improved infrastructure, urban renewal projects, and modernized transport systems.

Projected Market Growth

Greece's real estate market continues to grow, with residential property values projected to reach an average $349,900 by the end of 2024. In Q1 2024, urban house prices rose by 10.76% year-over-year, while rental rates increased by 8.9% in Q2. Regional trends show strong apartment price growth, with Thessaloniki leading at 12.1% and Athens at 7.7% in Q3. High-demand tourist destinations like Mykonos and Santorini saw property prices surge by up to 20% in 2023.