Greece real estate prices
Greek real estate is one of the most affordable among the European countries with an average property price under 1,600 euros per sq.m in the major metropolitan areas.
The property price depends on the proximity to the sea, infrastructure and transport accessibility. One can buy a small flat for the price from 50,000 euros or a luxury villa at the coastline – from 1,000,000 euros.
From 81,000 €
Completion in: 2024.IV Total of 11 apartments
From 121,000 €
Built in 2024 Total of 6 apartments
From 143,000 €
Built in 2023 Total of 17 apartments
From 170,000 €
Built in 2024 Total of 10 apartments
From 470,000 €
Total of 30 apartments
From 290,000 €
Completion in: 2025.II Total of 66 apartments
From 135,000 €
Yield 5.0% Total of 20 apartments
The Greek property market is growing steadily, especially in the Athens and Thessaloniki metropolitan areas. Over the last three years, the real estate price has risen by 30-32% in Athens, by 21-25% – in Thessaloniki, and by 9-14% – in the other major cities. The average price increase in the Greek property market equals 10-16% in the three-years period. Despite the rise, the Greek property price still hasn't returned to the 2007 peak when it had reached the level of 1,900-2,200 euros per sq.m depending on the location.
The growth potential of the Greek real estate market is currently one of the highest in Europe. It is driven by the steady economic development and tourism recovery. The current Greek government is implementing a business oriented policy allowing the country to gain momentum in the post-pandemic period. Another benefit of buying real estate in Greece is the possibility to get a EU residence permit for a property investment from 250,000 euros.
Property offers in Greece
Athens, Corfu, Crete and Thessaloniki are the most popular among foreign real estate buyers. The largest Greek property marketplace Spitogatos reports the following average prices for residential properties in Q1 2022:
Athens, central districts | €1,636 per m2 |
Athens, southern districts | €2,872 per m2 |
Thessaloniki | €1,625 per m2 |
Corfu | €1,650 per m2 |
Crete, Hieraklion | €1,316 per m2 |
Crete, Chania | €1,753 per m2 |
Athens is the Greek economic, cultural and administrative centre with a population of over 3 million people. Europe's largest passenger port of Piraeus is located in Athens. In the city centre, one can find a small, newly renovated apartment priced from 100,000 euros. Such apartments are the most profitable rental properties. Three bedroom apartments in comfortable areas are sold from 200,000 to 400,000 euros. The price for private houses can go up to several million euros.
Thessaloniki is the second largest city in Greece with more than 800,000 inhabitants. It is a home to the Aristotle University, Macedonia Airport and the country’s second largest seaport after Piraeus. The apartment prices in Thessaloniki start from 70,000 euros, and the house prices – from 100,000 euros.
The Halkidiki peninsula offers a variety of highly demanded coastline properties located in the scenic old towns such as Nea Moudania, Pefkochori, Neos Marmaras, Nea Skioni, Chanioti. Apartment prices in Halkidiki start from 70,000 euros, and the average price for a private house is 200,000 euros.
Foreigners often choose to buy property on the Crete island. Rethymno, Stavromenos and Elounda are the most popular local resorts visited by thousands of tourists annually. It is common to buy a second home in Crete for staying there for several months in a year. The apartment prices in Crete start from 80,000 euros, and the average price for a coastline villa is 350,000 euros.
Few buyers are interested in property in the Ionian Islands, especially Corfu and Kefalonia. Corfu is the northernmost island and the second largest in the archipelago. The most demanded properties in Corfu are located in the central and north-eastern areas: from Kontokali, Gouvia and Dassia in the north to the upmarket Agios Stefanos and Kassiopi in the south. An apartment with two or three bedrooms in Corfu can cost from 100,000 to 200,000 euros, the average price for a private house with a land plot ranges from 300,000 euros to several million euros.
The Ionian Islands of Lefkada and Zakynthos offer a variety of rental properties. Island of Ithaca suits those property buyers who enjoy quiet vacations as there are a few tourist attractions. Villas and houses in Ithaca cost between 400,000 and 600,000 euros.
Athens becomes Europe's most promising market
According to the PwC real estate trends report for 2022, investors and analysts expect Athens to show the highest growth in real estate prices of any European market.
Tranio has its own construction and renovation projects in Athens. For our projects, we select districts with the greatest potential for price growth. Our professionals in the Athens office are happy to assist you with property selection, legal services, residence permit application and rental contracts if you are buying a property for investment purposes.
Contact the specialist
In recent months, we have seen a huge demand for properties in our projects. At the end of last year, we started the renovation of a residential building in the central Athens district of Lofos Skouze.
In December 2021, the first truck with materials and equipment arrived at the construction site. By mid-January 2022, all 11 flats in the building were already sold out in a record time and without any advertising
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