Greece Real Estate
Market 2026

Nationally, residential prices kept climbing through 2025: apartment prices rose on average 7.8% over the year according to the Bank of Greece, easing from 9.1% in 2024, with the fourth quarter around 7.6% year-on-year. Growth was strongest outside Athens — roughly 9–10% in Thessaloniki and other cities versus about 6% in Athens. In the Cyclades luxury segment, prime sea-view assets have appreciated faster still. Figures are directional national indices, not a valuation of a specific asset.

As directional orders of magnitude for prime property: Mykonos roughly €6,000–12,000+/m² (prime coastal villas above €10,000/m²), Santorini €4,500–15,000/m² (caldera positions €9,000–15,000), Paros €4,000–8,000/m², Antiparos €4,000–9,000/m² and Naxos €2,000–4,000/m². Actual pricing depends heavily on location, view and the individual asset — trophy caldera and coastal villas can exceed the upper bound.

It depends on location. Under Law 5162/2024, high-demand zones — Attica, Thessaloniki and, by name, Mykonos and Santorini — sit at €800,000, as does any island with more than 3,100 residents (which includes Paros, Naxos and Syros). Smaller islands below 3,100 residents, such as Antiparos, remain at €400,000. A €250,000 route survives for commercial-to-residential conversions and restorations of listed buildings, plus a €250,000 startup pathway. Always confirm the current classification before committing.

The directional case is constructive: prices are still rising (if decelerating), international demand is deep, tourism set fresh records in 2025 (~38 million visitors, ~€23.6bn receipts), the new-build VAT suspension runs to end-2026 and island supply is structurally scarce. Against that, yields have compressed after years of gains, seasonality and island permitting add friction, and short-term-rental rules are tightening. We build an asset-by-asset case rather than a market-timing call.

Yes, for now. The suspension of 24% VAT on new-build residential sales has been extended to 31 December 2026 (Law 5246/2025). Qualifying new homes fall outside VAT and instead attract only the much lower transfer tax (around 3–3.09%), materially reducing acquisition costs. The regime is optional for the developer, so confirm the status of each specific project before relying on it.

Yes. Greece places no general restriction on foreign ownership, including for non-EU buyers, and freehold ownership is available. You need a Greek tax number (AFM) and a local bank account; properties in designated border or strategic zones require prior approval. Buying at the relevant threshold can also qualify the owner for the Greek Golden Visa residence permit.

Seasonality — many islands have a short high season and thinner off-season access; island permitting, forestry maps and titles need careful due diligence; short-term-rental rules are tightening, and Golden Visa qualifying properties cannot be let on short-term platforms at all; and liquidity is variable — Mykonos resells fastest to the broadest pool while Santorini, Antiparos and Naxos are thinner, relationship-driven markets that need a longer exit horizon.

Within the islands, Mykonos is the most internationally recognised and liquid market, reselling fastest to the broadest buyer pool, with Paros liquidity deep and improving. Athens offers the deepest mainland market. Santorini, Antiparos and Naxos are thinner and more relationship-driven, so plan a longer selling horizon there.

No. Under the current rules, properties acquired to qualify for the Golden Visa are banned from short-term rental (Airbnb-style) letting. Separately, several areas — including central Athens and, from 2026, tourist zones flagged for expansion such as Santorini and Paros — are freezing new short-term-rental registrations, and Law 5170/2025 adds safety standards and a two-property limit per individual. Confirm the current regime for the exact asset before assuming rental income.

Greek island markets are opaque, seasonal and heavily off-market. As an independent buying advisor, GADAIT compares islands and asset classes objectively rather than pushing one inventory, verifies title, permitting and rental licensing, negotiates on your behalf and manages the Golden Visa pathway where it applies — materially reducing risk on a cross-border purchase.