Greek property prices up 7.3%, renewed demand for Athens
Residential property prices in Greece advanced more than 7% in the second quarter of the year, amidst signs of a fresh pick up in demand, particularly in the Athens area.
The Greek real estate market has been one of the best performers in Europe in recent years. However, prices remain well below levels seen in other countries, such as Spain and Italy.
Solid economic growth and a booming tourism market are supporting the real estate market. Demand for Greek assets is also stemming from the Golden Visa program, which is drawing buyers from countries including India, Turkey, the UAE and the United States.
Alexander Varnavas, our Managing Partner, points out that the range of foreign buyers active in Greece is broadening and that interest remains robust.
“Demand from buyers in the Middle East has increased, while we are also seeing a return of investors from Asian countries,” says Mr. Varnavas.
Athens properties shine
The latest figures from the Bank of Greece, the country’s central bank, show fresh price spikes were recorded in the second quarter of the year.
Specifically, in the April-June period, property prices climbed by an annual pace of 7.3%. This compares with gains of 7% in the first quarter and 7.1% in the last three months of 2024.
The market was dominated by a pick-up in demand for property in the broader Athens region, a city of close to 4 million people.
Prices leapt 5.9 per cent in the Greek capital, versus 5.2 per cent in the first quarter (6.6 per cent in Q4/2024).
Top picks for Greece’s Golden visa
A closer look at the data shows that price increases were even steeper in some parts of Athens, as seen from data published by classifieds site Spitogatos.
In the south of Athens, in areas such as Glyfada and Vouliagmeni, prices marched 8.1% higher in the second quarter of the year to 4,052 euros sq/m. Meanwhile, in Piraeus, another district popular for those obtaining Greece’s property investment visa, prices advanced 1.2% to 2,500 euros per sq/m, indicating that further upside could be on the cards.
Older versus newer homes
In the broader market, buying momentum also remains strong, offering investors solid returns.
Demand for older homes pushed the price of properties more than 5 years old 7.6 percent higher in the second quarter of 2025 versus 6.4 percent in the January to March period.
The price of newly built homes (more than five years old) jumped 6.8%, as opposed to 7.9% in the first quarter.
Please contact our team for any inquiries about the Greek Golden Visa and how you can start your process.
