Interest from Greek and foreign investors in purchasing homes in Greece remains strong. Despite the surge in property prices, which continued their upward trajectory last year according to recent Bank of Greece data, demand remains robust. Even the increase in the minimum investment threshold for the Golden Visa has not deterred international buyers seeking a place under the Greek sun.

This trend is reflected in reports from leading real estate agencies that finalize deals and sign contracts, with business insiders reaffirming that buyer interest remains high in popular parts of Greece, with a focus on luxury homes, seaside properties, and properties with historical value.

The most sought-after areas include:

• Athens Riviera: Stretching along the coastline, it combines sea views and high-quality living.
• Central Athens: Neighborhoods like Kolonaki, offering access to both the historic center and modern city life.
• Northern suburbs: Areas such as Ekali, Kifisia, and Marousi, known for luxury residences.
• Greek Islands and mainland: Paros and Rhodes remain dominant, while Crete, Corfu, and the Peloponnese are also highly sought after.

Industry professionals report that some of the most significant transactions included high-value property sales, with deals exceeding €5 million. Notable sales were also recorded in the Cyclades, particularly on Paros, where transactions surpassed €4 million. Still, real estate experts note that property prices in Greece have not yet peaked, though the dramatic double-digit increases of up to 15% seen in past years are unlikely to return.

From 2017 to the second quarter of 2024, residential property prices rose by 88% in Attica and by 69.2% nationwide. While prices are expected to continue rising for several more years, annual increases are projected to stabilize at 2-3%. This steady growth is attributed to a limited supply of new buildings and rising construction costs.

The cost of conventional construction has surged by 50-60% in recent years, now ranging between €1,600/m² and €1,800/m², and in some cases reaching €2,100/m².