Rising Real Estate Prices Across Greece in 2024

Property prices across Greece continued their upward trajectory in 2024, with an average increase of 6.5% compared to 2023, according to data from RE/MAX Hellas, the country’s largest real estate network. This increase was observed across all property categories, regardless of the construction year.

The dynamic growth of the real estate market is evident, as RE/MAX Hellas, with 86 offices nationwide, reported a 35.66% rise in total sales for 2024, while the number of transactions increased by 28.78%.

Property Price Breakdown

According to the data, newly built properties (up to five years old) saw their average price exceed 3,000 euros per square meter, marking a 6.1% annual increase. Older properties surpassed 2,000 euros per square meter, reflecting a 6.8% rise.

This upward trend was not limited to major urban centers but also extended to popular tourist areas, driven by sustained high demand and limited supply.

Besides Greek buyers who continue to view real estate as a secure investment—either for personal use or investment purposes—the market has also benefited from a growing number of foreign investors.

These buyers, interested in acquiring vacation homes, retirement properties, or pursuing business opportunities, increasingly see the Greek real estate market as an attractive option.

Regional Trends

Attica: In the Attica region, the prices of older properties (over five years old) rose by an average of 6.5%, while new properties saw a 6% increase. The average price per square meter for newly built properties in the broader Athens-Piraeus area reached 3,706 euros, while older properties averaged 2,460 euros per square meter.

Thessaloniki: The country’s second-largest city, Thessaloniki, exhibited similar trends with regional variations. Newly built properties averaged 2,597 euros per square meter, up 6.1%, while older properties reached 1,798 euros per square meter, a 6.4% increase from the previous year. Except for the city’s western areas, the most significant increases were observed in properties over five years old.

Rest of Greece: Elsewhere in the country, significant increases were recorded for both new and older properties. Older properties averaged 1,759 euros per square meter (a 7.6% rise), while new properties (up to five years old) averaged 2,723 euros per square meter, marking a 6.3% increase.