Foreign Investors Fuel Real Estate Boom in Greece, Driving Prices Higher

multibillion-euro surge is transforming Greece’s real estate market, as foreign investors continue to pour capital into the country, showing increasing willingness to pay premium prices for property.

According to the latest report by the Governor of the Bank of Greece, net inflows from overseas property purchases reached 2.75 billion euros in 2024. Over the past two years, foreign funds invested in Greek real estate have totaled nearly 4.9 billion euros— a significant show of confidence in the sector’s long-term prospects.

A recent annual survey by CERVED Property Services paints a similarly optimistic picture. Nearly half (49%) of real estate professionals anticipate price stabilization, while 46% predict continued price growth. Still, most expect any increase to be moderate, with 42% forecasting it to stay below 5%. Fewer than 5% foresee a decline in property values.

The rental market is following a similar trajectory. Nearly half of respondents (47%) expect rental prices to rise, though most believe the uptick will be limited to under 5%. The remainder anticipate stable rents or minor decreases.

Looking ahead to the end of 2025, 57% of industry experts believe the housing market will continue to experience excess demand over supply. Only 12.8% see supply outweighing demand, while 30% view the market as relatively balanced.

As for transaction volumes, 47.4% expect them to remain steady, 41% forecast an increase, and just 11.6% predict a decline in sales.

In terms of property types, demand is concentrated in apartments, which are favored by 64% of respondents. Detached houses and maisonettes follow with 19.4%, plots of land with 9.3%, and holiday homes with 7.6%.

Most buyers — 61.5% — are seeking homes for personal use. The remaining 38.5% are focused on investment properties.

Foreign Buyers Play a Key Role

One of the most striking findings concerns the growing presence of foreign buyers. While 46.4% of experts estimate that non-Greek buyers make up less than 20% of the market overall, 35.6% believe they account for more than 30%.

In Athens, Thessaloniki, and top tourist destinations, the influence of international buyers is even more pronounced. According to 90% of professionals working in these regions, foreign participation exceeds 30%, and in popular locations such as the Cyclades, the Ionian Islands, Halkidiki, and Ermionida, it can surpass 70%.

Source: Tovima.com