The Greek real estate market at the start of 2026 remains attractive, but is entering a phase of maturity where its resilience will be tested. The decisions that will be made at the state level, but also at the market level, will determine the ability of housing to balance between development, affordability and sustainable transformation.
Housing remains at the same time a basic social need, a savings haven and an investment product, directly affecting family planning, disposable income and the overall dynamics of the economy.
The developments of recent years, with the rise in prices, increased rents and the consistently limited supply of new housing, have shifted the focus of the discussion from demand to the resilience of the market and its ability to meet the needs of 2026.
2025 confirmed that Greece continues to be a pole of attraction for foreign buyers, while at the same time highlighting the limits of a market that operates under intense pressure on availability and with increasing institutional and construction challenges.
In particular, according to a survey by RE/MAX Hellas, foreign buyers who were active in 2025, moved primarily to apartments and single-family houses, older than five years, with an area of sixty to one hundred square meters and a value mainly from 100,000 euros to 200,000 euros. This is a clear buyer profile, who chooses medium-sized and low-cost properties, which meet both home ownership needs and a mild investment logic.
The main purchase motive for 52% of foreign buyers was the use of the property as a second or holiday home, confirming the timeless title of Greece as a holiday home destination. At the same time, thirty percent made purchases for investment purposes, either for leasing or for future resale, while only ten percent bought property for their main residence. Indicative of the maturing of the market is the fact that the Golden Visa, with a rate of eight percent, is no longer the main driver of demand, indicating a more diversified and less monothematic presence of foreign capital.
As for the type of properties, apartments accounted for 38% of purchases, followed by single-family houses and maisonettes, while plots and land parcels remained at low levels. A decisive factor is the fact that almost eight out of ten buyers chose used properties, versus only one in five who turned to new builds. This picture clearly reflects the tightness of the new supply, but also the importance of upgrading the existing building stock.

The picture of 2025, however, is not transferred as is to 2026.

As recorded by Elxis-At Home in Greece, the market is entering a two-way phase. On the one hand, there is growing interest in smaller and more affordable newly built holiday homes, either as a more economical option or as an investment tool. The increased demand for homes of sixty to seventy square meters, or even smaller units of thirty-five to forty-five square meters, especially for use through short-term leasing, reflects a clear adaptation of buyers to increased prices and the higher cost of entering the market.
At the same time, 2025 also highlighted a strong premium market. One in four properties was sold at prices above six hundred thousand euros, a rate three times higher than in previous years, while the average sale value of newly built holiday homes amounted to 450,000 euros, recording an increase of over thirty-seven percent on an annual basis. This dual trend proves that the housing market is not evolving linearly, but on multiple levels, depending on the income, use and investment horizon of the buyers.

Housing credit in positive territory

In this context, housing credit is once again beginning to play a decisive role. The latest data from the Bank of Greece show that in October 2025 the twelve-month change in housing loans ceased to be negative for the first time in years, offsetting repayments. A year earlier, credit expansion in housing loans was negative by 2.8%, which demonstrates the extent of the turnaround. At the same time, the cost of borrowing improved significantly.
According to data from the European Central Bank, the average interest rate on housing loans in Greece fell below the eurozone average, standing at 3.12% in September 2025, compared to 3.39% in the eurozone. In November, Greece was for the first time in the top five countries with the cheapest housing loans, with an average interest rate of 3.04%, having covered significant ground since the beginning of the year, when it was in ninth place.
Even more indicative of the change of page is the return of credit expansion to a positive sign. In November 2025, the twelve-month change in housing loans amounted to 0.4%, marking the first positive performance since October 2010. This is a development with strong symbolism, as it gradually closes a fifteen-year cycle of deleveraging, which began with the fiscal crisis.
The improvement in financing conditions acts as a factor supporting demand, without, however, negating the structural pressures of the market.
Spitogatos data for the fourth quarter of 2025 confirm the continued rise in asking prices, with an average annual increase of almost 10% nationwide. The Southern Suburbs of Attica remain the most expensive area in the country, while significant increases were also recorded in Thessaloniki, where the average asking price for sale increased at a double-digit rate. Despite the differences between areas, a common element remains the pressure on prices, combined with limited options. The availability of properties is emerging, according to RE/MAX, as the main factor that leads prospective buyers to re-evaluate or delay the purchase decision, even in an environment of improved financing.

Housing, infrastructure and sustainability

In the background of this picture is the issue of supply and construction. Building activity in 2025 showed a slowdown in the rates of issuance of new permits, while the cost of construction continued to increase, albeit at a slower rate. Institutional pending issues, bureaucracy and uncertainty around the regulatory framework continue to act as a brake on the increase in supply.
The conclusions of the TMEDE International Conference "Redefining the Future Horizons-Designing the sustainable strategies of tomorrow" move the discussion to a broader context. Housing and construction can no longer be treated in isolation from infrastructure, climate adaptation and the overall resilience of cities. The climate crisis affects the design, cost and financing of projects, changing the data for old and new buildings. For the prospective buyer or investor of 2026, the decision-making environment becomes more demanding. Availability, the real valuation of transaction prices, completion times and access to financing make up a complex puzzle.
As pointed out at the TMEDE conference, the need to redesign infrastructure, the integration of technology and data, as well as the connection of financing with sustainability criteria, create a new framework within which the housing market now operates.
Buildings, old and new, are called upon to meet stricter requirements for energy efficiency and resilience, while local government is also at the forefront of implementing these strategies.
2026 will not be judged only by demand, but also by the ability of the market to gradually increase supply, to incorporate the requirements of sustainability and to maintain its social balance. The Greek real estate market remains attractive, but is entering a phase of maturity where its resilience will be tested.
For the prospective buyer or investor of 2026, all of the above translates into a more demanding decision-making environment. The availability of properties in the area of interest remains crucial, as does the realistic assessment of the price range in which most transactions take place. The time to make a decision, which for a significant percentage of buyers ranges between four and six months, is affected by bureaucratic and institutional factors that cannot be ignored. At the same time, the purpose of the purchase, owner-occupation, second home or investment, determines the type and size of the property, in a market that simultaneously shows trends of compression towards smaller sizes and strengthening of the premium category.
 
Source: APE-MPE
 
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