According to the main findings of the report, the market continued to operate on positive ground, driven primarily by strong interest from international investors, steady domestic demand for housing, and the growth of quality tourism. At the same time, however, residential properties are considered overvalued, while the office sector exhibited more moderate growth.
Particular attention is given to the issue of housing, which, combined with the long-standing shortage of suitable residential properties, continues to exert significant pressure on the market and exacerbates the challenge of affordable housing. Regulatory constraints, high construction costs, and supply limitations remain critical inhibiting factors. The study highlights the need to attract new institutional international investors, particularly those capable of implementing large-scale residential developments, supporting urban regeneration, and increasing the supply of high-quality, affordable housing, thereby strengthening the market’s long-term stability.
Outlook for the Next Six Months
Looking ahead, the Committee anticipates that the positive trend will continue in the hotel sector, short-term rental spaces, and secondary/holiday residences, while commercial and logistics properties are expected to experience a slowdown in growth. Overall positive prospects are supported by stable GDP growth, macroeconomic stability, progress on major urban redevelopment projects and EU-funded initiatives, as well as improved access to capital. At the same time, challenges persist, notably international geopolitical instability, rising construction costs, labor shortages, and the limited supply of affordable housing.
As stated by the Chairman of the Real Estate & Development Committee, Mr. Lefteris Sikalidis: “The Greek real estate market continues its transition towards a more mature and selective development, with clear distinctions across sectors and property categories.” Despite ongoing momentum in tourism and contemporary residential housing, he emphasized that structural pressures—particularly the issue of affordable housing—emerge as a central challenge for the market.
Through this periodic study and its targeted interventions, the AmCham Real Estate & Development Committee seeks to identify and address issues in a timely manner that could impact both the real estate market and the Greek economy as a whole.
