High Demand Pushes Up Summer Home Prices on Greek Islands

The Greek islands, long celebrated as one of the world’s most desirable holiday destinations, are now experiencing unprecedented demand for summer homes. Both domestic and international buyers are driving prices upward, making island real estate one of the most dynamic sectors in the country.

Strong price growth across island markets

According to recent data, average asking prices for homes have soared across Greece’s island regions over the past six years.

• In the Ionian Islands, prices have climbed nearly 50% since 2019, reaching €2,389 per sq. m.
• On Crete, the average stands at €2,105 per sq. m., reflecting a 40% increase.
• The Aegean Islands show the steepest rise, with prices averaging €2,778 per sq. m., up almost 39% compared to 2019.

Foreign interest is also strong. The top five countries seeking property on Greek islands are the United States, the United Kingdom, Germany, the Netherlands, and France.

Cyclades remain the crown jewel

The Cyclades, home to world-famous destinations such as Mykonos, Paros, and Santorini, remain the most sought-after summer home locations. Prices in most islands are climbing, with standout increases of over 20% recorded in Antiparos and Folegandros in the past year. Mykonos, Antiparos, and Paros remain the most expensive options in the region.

Ionian Islands and Sporades see sharp rises

In the Ionian Islands, Corfu tops buyer demand, while Paxos records the highest average asking prices. By contrast, Corfu and Kythira still offer relatively more affordable opportunities. Lefkada has seen the steepest annual rise, exceeding 20%.

The Sporades, known for lush pine forests and pristine seas, are also gaining ground. Alonissos saw average prices jump by more than 30% in just one year, while Skiathos remains the costliest island in the group, at €3,273 per sq. m.

Saronic Islands attract with proximity to Athens

Close to the capital, the Saronic Islands—including Hydra, Spetses, Aegina, and Salamina—are growing in popularity. Hydra stands out as the most expensive, with average prices at €6,500 per sq. m. Salamina has seen notable annual increases of over 10%, while Spetses and Aegina remain top choices among both Greek and foreign buyers.

Strong activity in the Dodecanese, Crete, and beyond

In the Dodecanese, Patmos and Symi are among the priciest markets, while Rhodes, Kos, and Kalymnos are attracting the greatest buyer interest. On Crete, the Chania region has seen a 22% price increase year-on-year, making it the island’s most expensive area.

Even Euboea (Evia), Greece’s second-largest island and just a short drive from Athens, is recording steady growth. Destinations such as Styra, Marmari, and Kymi have all seen price rises, with Styra posting increases above 15%.

A market shaped by global demand

The Greek islands’ combination of natural beauty, cultural heritage, and lifestyle appeal continues to fuel the housing market. While prices vary widely between regions, the trend is clear: demand for island properties is booming, with international buyers playing a key role in pushing values higher.

Source: Tovima.com