Engel & Völkers: Greek islands continue to draw luxury home buyers

This is highlighted in the latest Engel & Völkers Greece Market Report (2026), which examines trends in the holiday home market across the Cyclades, the Dodecanese, the Peloponnese, the Saronic Gulf islands, and Halkidiki. Demand from both domestic and international buyers for second homes is currently at a historic high.

“Today, high-net-worth individuals (HNWIs) are not simply looking for functional holiday homes, but for unique properties offering complete privacy, uninterrupted panoramic views, and a harmonious connection with natural surroundings,” explains George Petras, CEO of Engel & Völkers Greece. “Architectural innovation, superior construction quality, energy efficiency, and sustainability are becoming increasingly important factors in investment decisions.”

Strong international demand in the luxury and premium segments

Whether it is the understated luxury of the Cyclades, the authenticity of the Ionian Islands, or the emerging exclusive destinations of the Peloponnese, the Greek second-home market continues to demonstrate remarkable resilience. “As supply in these highly sought-after locations is inherently limited, luxury and premium properties in these areas offer long-term value preservation and strong prospects for sustainable capital appreciation,” says Mr Petras. “At the same time, prices on Greek islands remain relatively competitive compared with other Mediterranean markets, offering attractive entry opportunities in many locations.”

The overwhelming majority of transactions are driven by foreign buyers. Buyer profiles vary depending on the location, with demand coming primarily from Western Europe, the United States, and Israel.

For years, the Cyclades have ranked among Greece’s most popular international destinations. Mykonos, in particular, remains a highly sought-after hotspot for high-profile investors, with premium properties reaching prices of up to €12,000 per sq m. Nearby Paros has also firmly established itself as one of the most dynamic real estate markets in the Cyclades, attracting buyers from around the world with its combination of authentic villages and contemporary architecture. Sea-view properties are particularly in demand, with prices reaching up to €10,000 per sq m. Santorini, one of the Mediterranean’s most iconic destinations, stands out for its dramatic volcanic landscape and distinctive Cycladic architecture, with prices reaching up to €8,000 per sq m. In Antiparos, demand for top-tier properties remains equally strong, with prices reaching up to €10,200 per sq m.

The highly attractive Halkidiki peninsula in northern Greece is emerging as a luxury real estate destination, where prime beachfront villas command record prices of up to €14,000 per sq m.

In the Peloponnese, Argolida is one of the most sought-after areas among international buyers. Porto Heli is considered a hotspot for both Greek and foreign HNWIs, earning the nickname “the Greek Saint-Tropez.” Prices for exceptional villas in prime locations reach up to €12,000 per sq m. Messinia is among Greece’s fastest-growing markets, with prices reaching up to €6,000 per sq m. In Corinthia and Laconia, properties in privileged locations are priced at up to €4,000 per sq m.

The historic islands of the Saronic Gulf stand out for their easy access from Athens, attracting a significant international clientele. Prices in Hydra reach up to €7,500 per sq m, while in Spetses they reach up to €6,500 per sq m.

Despite their growing popularity, buyers can still find relatively accessible entry prices in Naxos, the largest island in the Cyclades (up to €5,200 per sq m), as well as in Syros and Tinos (up to €5,000 per sq m) and Andros (up to €3,200 per sq m). In the Dodecanese, villas in prime locations on Rhodes are in particularly high demand, reaching up to €6,750 per sq m. By contrast, neighbouring Symi still offers comparatively lower entry prices, at around €3,900 per sq m.

Outlook: Further sustainable growth expected throughout the year

Engel & Völkers expects the positive momentum to continue, with international demand for Greek island properties growing steadily. This trend further strengthens the position of the islands as leading Mediterranean destinations for holiday homes. Given the inherently limited local supply, further price increases are also expected.

“Buyer and investor priorities are shifting noticeably: stability, quality of life, and long-term value preservation are now at the forefront. Within this context, the Greek real estate market offers an attractive investment environment that more than meets the exclusive requirements of an affluent international clientele,” concludes Mr Petras.