Greece has emerged as one of the cheapest countries in the Eurozone for mortgage loans,…
Tag: housing market
The Greek government has announced a major overhaul of its Golden Visa program, aiming to…
Luxury home prices in Greece have doubled in five years, driven by strong demand in Mykonos, Santorini, and the Ionian and Dodecanese islands, with properties fetching up to €20,000 per square meter. Foreign buyers from the US and Asia are fueling this booming market.
Short-term rentals have become the “heartbeat of small and medium-sized Greece,” according to the Association…
Greece is tightening rules on short-term rentals, extending the ban on new Airbnbs in central Athens until 2026 while considering similar restrictions in tourist hotspots like Santorini, Thessaloniki, and Chania. From October 1, 2025, stricter safety standards, inspections, and heavy fines will apply to all rental properties.
Greece ranks among the top countries in Europe for homeownership, with nearly 40% of Greeks owning two properties. But empty homes, rising prices, and a shortage of affordable rentals are fuelling debate over stricter housing regulations.
As Greek students gear up for the new academic year, they face a daunting housing crisis. Skyrocketing rents, up 11.3% in a year, and a severe shortage of affordable homes have turned the search for student accommodation into a costly struggle. In Athens’ Zografou, a 50-square-meter apartment costs at least €550 monthly, while in Patras, similar units fetch €550 or more. With limited supply and wages failing to keep pace, families are pushed to their financial limits, prompting urgent calls for government action to build dormitories and offer rental relief.
Greece’s Golden Visa program sees a 28.5% drop in applications in April 2025, the first decline since 2022, despite a surge in property purchases driven by earlier investment threshold changes.
Greece’s housing market is showing signs of resilience and stability, with most experts expecting steady or modest growth in property prices through 2025, according to a nationwide survey by Cerved Real Estate Services. Demand continues to outpace supply, ownership remains the primary motive for buyers, and foreign investment plays a significant role in key regions like Athens and the Greek islands.
Turkish investors significantly boosted their overseas real estate investments in 2024, with the UAE and Greece emerging as top destinations. The total amount spent on foreign property rose by 20.5%, reaching $2.513 billion. This surge is driven by attractive golden visa programs, favorable investment conditions, and the desire for more profitable and stable rental income opportunities abroad.
The Athenian Riviera, a stunning 60-kilometre coastal gem from Piraeus to Sounio, is witnessing a property boom, with prices in Vouliagmeni soaring to €7,441 per square metre. Driven by luxury developments like the Elliniko project and growing interest from international investors, the southern suburbs of Athens are leading Greece’s real estate surge, offering a blend of seaside charm and modern convenience at a fraction of the cost of other Mediterranean hotspots.
Greek Prime Minister Kyriakos Mitsotakis’ recently announced banking reforms will take effect in mid-January, Finance Minister Kostis Hatzidakis confirmed. The measures, aimed at reducing costs and improving transparency, include zero charges for basic banking transactions, capped wire transfer fees, and incentives to release unused properties into the housing market. Additional initiatives include €200 million in funding for school renovations and a real estate acquisition body, as well as expanded transaction limits through the IRIS payment system. These reforms are part of the government’s broader efforts to reshape Greece’s banking and financial landscape.
The Greek government has introduced a tax exemption for rental income to encourage property owners to convert vacant or short-term rental properties into long-term leases. Under the new measure, landlords signing leases between September 8, 2024, and December 31, 2025, will enjoy a three-year exemption from income tax on rental income. The exemption applies to properties up to 120 m² and requires compliance with tax reporting rules. However, the exemption will be revoked if the property becomes vacant or is converted back to short-term rental during the lease term.
The Greek government is incentivizing property owners to convert short-term rentals (like Airbnb) into long-term leases by reducing the required short-term rental period from three years to one to qualify for a three-year tax break. However, property owner associations like POMIDA argue that linking the tax break to the initial tenant, rather than the property itself, creates insecurity and discourages participation.
Greece introduces new taxes on tourism and short-term rentals, aiming to address climate change, improve infrastructure, and alleviate housing shortages in popular tourist areas. The measures include a climate resilience fee, a cruise passenger levy, and restrictions on short-term rentals in central Athens.
Rental prices in Athens have surged significantly, putting increased pressure on households. The southern suburbs, along with central Athens, are among the most expensive areas, with Vouliagmeni topping the list at 20 euros per square meter. Meanwhile, neighborhoods like Perama and Acharnes remain the most affordable. Despite current increases, rental prices in Greece are still below the levels recorded in 2010, contrasting sharply with rising rent trends across much of the European Union.
Banks and servicers in Greece hold approximately 10,000 properties acquired through foreclosure auctions. These properties could potentially regulate the housing market if they were put up for sale, but various regulatory hurdles are preventing their quick release. The issue has become a significant social problem, and solutions must be sought at all levels.
In Q2 2024, Greece saw a 9.2% increase in apartment prices from the previous year, according to Bank of Greece data. New apartments rose by 10.7%, and older ones by 8.3%. Prices were up 12.1% in Thessaloniki and 9.1% in Athens. This trend follows a 13.8% annual rise in 2023.
The Bank of Greece has released revised data indicating a continued rise in flat prices…
In the latest data released by Eurostat on Thursday, Greece stands out with a notable…
