05 Aug 2026
Holiday property prices continue their upward trend
- RE+D Magazine
The Greek holiday home market remains on an upward trajectory, with asking prices recording a new increase for the ninth consecutive year in the country's most popular islands. The trend confirms that strong demand—primarily from international buyers—continues to outweigh challenges arising from high costs, inadequate infrastructure, and geopolitical uncertainty.
According to the latest GEOAXIS Property Value Observatory, Mykonos retains the leading position in the luxury holiday home segment, with a median asking price of €16,790 per sq.m., followed by Santorini at €13,943 per sq.m. and Paros at €10,026 per sq.m. In Kea, the median price stands at €6,549 per sq.m., while in Serifos it reaches €3,984 per sq.m. All markets recorded annual increases of approximately 4%-5.5%, reflecting the continued strength of the premium property segment.
Even more notable is the gap between luxury and standard holiday homes. In Santorini, a high-end property is valued at almost six times the price of a conventional holiday residence, while in Mykonos the difference reaches 5.7 times. GEOAXIS estimates that luxury properties account for only 5%-15% of the overall market, primarily targeting foreign buyers with substantial financial resources who are willing to pay significant premiums for unique assets.
Standard holiday homes are also following an upward trend. Mykonos remains the most expensive market, with a median asking price of €2,969 per sq.m., followed by Paros (€2,384 per sq.m.), Santorini (€2,363 per sq.m.), Kea (€2,184 per sq.m.) and Serifos (€1,676 per sq.m.). Compared with 2025, price increases range between 3.1% and 5.1%, while the ten-year analysis shows that property values have reached their highest levels of the past decade. Mykonos has recorded a cumulative increase of 38.7% since 2017, while Serifos has gained 26.4%.
GEOAXIS notes that the market has reached a critical stage. Overdevelopment, insufficient basic infrastructure, labour shortages, rising construction costs, and climate change have become structural challenges for leading tourist destinations. At the same time, tighter restrictions on construction outside designated urban planning zones are expected to limit new supply, supporting further value appreciation for existing properties and plots with mature building permits.
Despite these pressures, the company expects prices to continue rising over the next twelve months, although likely at a more moderate pace, provided that no major geopolitical disruption occurs.