Real Estate

The target market for co-ownership includes Greeks who wish to acquire holiday homes at a low cost, foreign clients and businesspeople.

Underground houses and hotels, once a necessary adaptation, are now popping up around islands, raising alarm to locals and architects

The Greece Golden Visa Program is a residence-by-investment program launched in 2013 that enables non-EU nationals and their family members to obtain permanent residence permits in Greece. The residence permits may be renewed every five years.

Specifically, in the nationwide survey, 24.9% of buyers opted for properties between 51 and 75 square meters, while 24.7% chose smaller properties up to 50 square meters.

In central Athens, property sale prices rose by 12.4% to 2,120 euros per square meter, according to the platform's index based on listings.

Prices are expected to continue to grow in 2024, despite the fact that they far outweigh Greeks' increases in income

The building permits for the Private Building Activity issued in Greece in March 2024 amounted to 3,728, corresponding to 864,988 m2 of surface and 3,248,483 m3 of volume

University institutions are primarily focused on two key factors: the size of potential buildings, favoring properties with ample square footage, and the location's accessibility.

The Cycladic Island of Mykonos and the Ionian Island of Paxos were the priciest destinations to buy a home in May 2024

The Real estate study revealed that Greeks in the market for a new house opt for affordable older units within their financial abilities

The report on the Greek market reveals properties are in high demand by foreign homebuyers, usually just before summer

The Municipality of Athens leads in property sales, with 2,035 properties changing hands in the first four months of 2024.

The total building activity (private and public sector) for February 2024, regarding building permits issued, amounted to 2,744 permits

In the first quarter of 2024, Korydallos in the Piraeus region and the burgeoning Attiki Square retain their top spots with impressive yields of 6.3%.

The study indicates that while 66% of Greeks find recent real estate price hikes concerning and liken them to a "bubble," over half (56%) still anticipate further increases.

George Gavriilidis, CEO of the real estate consultancy Elxis highlights that Greek buyers are increasingly drawn to emerging locales.

This has led to a notable escalation in renovation costs, with average prices per square meter exceeding previous norms and reaching even 1,000 euros in premium locations

In the last six months, Greeks have made a surge into the vacation home market, notably without relying on loans.

Safety, access to public transport, parks and schools, as well parking availability are the top consideration for those thinking about buying property in Greece.

Prices in the southern Attica region of Piraeus soared 27.3%, according to the leading real estate website Spitogatos