Greece’s Housing Market in 2026: rising prices, growing affordability pressures and a more divided property landscape

Greece’s residential property market continued to expand in 2026, extending several years of sustained price growth. According to the Estate Brains Insights Report: Housing Market in Greece 2026, residential property prices have approximately doubled since 2017. Transaction prices increased by 17.7% in 2023, 9.1% in 2024 and 9.4% in 2025. Between January and September 2026, they rose by 7.7% year-on-year, while asking prices increased by 5.8% over the latest 12-month period examined.

Despite continued growth, the market is becoming increasingly differentiated, with significant variations in regional performance, housing affordability and investment potential.

A More Active Market, but Uneven Growth

Property market activity strengthened alongside prices. Property transfer declarations reached 223,267 in 2025, compared with 174,475 in 2023. New mortgage lending also increased, reaching €2.65 billion in 2025, up 46% from the previous year. Nevertheless, properties remained on the market for an average of 289 days, while newly built homes accounted for 25.7% of listings.

Regional differences remain substantial. Asking prices rose by 33.3% in Corfu, 23% in Kavala, 15.8% in Ioannina and 12.9% in Halkidiki, while other areas recorded declines.

East Attica illustrates the importance of examining price data carefully. Although headline asking prices increased by 44% over three years, the rise was approximately 15% after accounting for changes in the composition of properties offered. The growing proportion of newer, more expensive homes contributed to the difference, demonstrating that average prices do not always reflect like-for-like appreciation.

New-Build Housing Reshapes the Market

New construction is increasingly influencing both market averages and affordability. In Attica, newly built two-bedroom properties were priced approximately 72% above comparable older homes.

Although new developments may offer modern specifications and lower immediate maintenance requirements, their higher purchase prices place them beyond the reach of many households. Comparisons based on location, property size, age and condition are therefore essential to understanding genuine market movements.

Rental Growth and Investment Returns

Rental prices have also increased significantly. Since 2023, rents have risen by approximately 22% in Athens and 35% in Thessaloniki. However, national rental growth slowed to 1.8% in 2026, compared with a 5.8% increase in asking prices.

This divergence matters to investors because rising acquisition costs can reduce rental returns. The report estimates gross rental yields at 4.4% in Athens and 4.7% nationally, before taxes, maintenance, vacancies and other ownership expenses. In Larissa and Xanthi, yields reached approximately 8–9%, offering a different investment profile, although local demand and liquidity remain important considerations.

The report also finds that neighbourhoods with higher HoodEx quality scores tend to have lower rental yields. This suggests a trade-off between neighbourhood desirability and income relative to purchase price.

Affordability Under Pressure

Housing affordability remains a central concern. A median 70-square-metre apartment in southern Athens costs approximately €214,000, equivalent to 12.2 years of household income, compared with 10.1 years in 2023. Nationally, a comparable apartment costs around €185,000, equivalent to 10.5 years of household income.

Rental costs also absorb a substantial share of household resources, representing an estimated 53% of household income in southern Athens and 49% nationally. These figures highlight the growing financial pressure on households seeking either to purchase or rent a home.

Affordability therefore depends not only on property prices but also on household incomes, financing conditions and the availability of suitable housing.

Neighbourhood Quality Beyond Price

The HoodEx framework evaluates neighbourhood quality through five dimensions: nature, buildings, community life, services and transport networks. It provides a broader perspective on residential value, recognising that properties with similar prices can offer different living environments and investment outcomes.

In Kypseli, transaction prices increased by 54% between 2021 and 2025, while gross rental yield stood at 5.5%. In Elliniko–Argyroupoli, prices rose by 62% over the same period, but yields fell to 3.2%. The share of new-build listings in the latter area also increased from 30% to 49%.

These examples demonstrate that strong capital appreciation does not necessarily translate into equally strong rental income.

Looking Ahead to 2027

The report identifies several indicators to monitor in 2027: time on the market, the share of new-build listings, the gap between price and rental growth, annual transaction-price changes and the proportion of sales above official taxable property values.

These measures can help assess whether market conditions are strengthening or becoming more uneven, without implying a specific forecast.

Overall, Greece’s housing market remains active, but rising prices, regional disparities and affordability pressures require more careful analysis. Buyers and investors must look beyond headline growth, considering location, property characteristics, neighbourhood quality and realistic rental returns. As the market moves towards 2027, informed decisions will depend increasingly on understanding not simply how prices change, but what drives those changes.

Source: Estate Brains Insights Report, Housing Market in Greece 2026. Listing data extend to 27 September 2026; transaction records extend to 1 October 2026.