Greece’s Real Estate Market: A Decade of Growth Backed by Numbers
Thinking of investing in Greece? The numbers speak for themselves.
Over the past decade, Greece has emerged as one of the most promising real estate markets in Europe. From price recovery after the financial crisis to a major influx of foreign investment, the country’s property sector is proving to be both resilient and rewarding.
If you’re a Lebanese investor—or someone looking for long-term returns and residency opportunities in the EU—understanding the trends behind this growth can help you make smarter decisions.
Greece’s Real Estate Recovery: From Stability to Growth
Following years of economic challenges, Greece’s real estate market began a notable recovery in 2017. Since then, the country has experienced consistent year-on-year property value increases, particularly in key regions like Athens, Thessaloniki, and coastal areas.
According to the Bank of Greece, house prices have increased for 27 consecutive quarters, reflecting strong demand and a growing economy.
Source: Bank of Greece – Property Index Q3 2024
Prices Are Climbing in Major Cities
As of Q3 2024:
- Athens experienced a 7.66% year-on-year increase in house prices.
- Thessaloniki saw a 12.11% rise in the same period.
- Across the country, the average increase was 7.29%.
These numbers are based on quarterly data reported by the Bank of Greece and covered by international analysts.
Source: Global Property Guide – Greece Property Market
Foreign Investment at Record Highs
Foreign buyers continue to play a major role in driving demand:
- In 2023, over €3 billion worth of real estate was purchased by non-Greek investors.
- Foreign buyers now account for approximately 80–85% of all real estate purchases in Greece annually.
Source: Global Property Guide & The Luxury Playbook
A large portion of these transactions are linked to Golden Visa applications, which offer EU residency through property ownership in Greece.
What’s Ahead: Strong Forecasts Through 2029
According to recent projections, the total value of real estate transactions in Greece is expected to reach $9.39 billion by 2029, nearly tripling compared to pre-2017 levels.
Source: Statista – Greece Real Estate Market Forecast
This growth is fueled by:
- Rising international demand
- Limited housing supply in key locations
- Increasing appeal of EU residency through real estate
Why This Matters for Lebanese Buyers
Given Lebanon’s current economic situation, investing in Greece offers:
- A safe Euro-based asset
- EU residency through Golden Visa
- Long-term appreciation
- Access to rental income from tourism and expat demand
At Olympian Keys, we’ve helped many Lebanese clients invest wisely in areas such as Loutraki, Corinth, and coastal suburbs of Athens—each now benefiting from these national and international trends.
Final Thoughts
Greece’s real estate market is not just recovering—it’s thriving. Whether you’re looking to invest, relocate, or apply for the Golden Visa, the data confirms that now is the right time. With steady growth, affordable entry points, and rising demand, Greek real estate continues to offer one of the best opportunities in the Mediterranean.
