Slowing Momentum but Sustained Growth

Despite a dramatic rise in property prices up by 71.1% in Attica and 53.8% nationwide from 2017 to 2023, growth in 2024 has moderated. For apartments in major cities, price increases have so far remained below 11%, with even smaller gains for properties overall.

Insights from the Market

Lefteris Potamianos, CEO of Potamianos Real Estate Group, notes a cooling demand compared to two or three years ago, although buyers remain active. "The market has calmed down, but demand is still there, albeit more targeted," says Potamianos.

Buyers today are more discerning, he observes. While Greek property prices are high relative to local incomes, they remain competitive for international buyers. Potamianos anticipates a period of stability, without drastic fluctuations. "Prices won't drop sharply because there's no reason for them to, nor will they rise too quickly. We expect a long-term equilibrium.”

Fewer Transactions, Higher Prices

Transaction volumes may decline, Potamianos says, but deals will occur at high price points. "Opportunities in Athens are increasingly scarce, but there are still bargains in regional markets," he adds.

For instance, properties in parts of the Northern and Southern Aegean islands can still be found for 1,000–1,500 euros per square meter—an attractive option for buyers, particularly foreigners, who are increasingly investing in these areas.

Adjusting Expectations

A key challenge for brokers, Potamianos explains, is managing sellers' expectations. Unrealistic valuations, fueled by market euphoria or pessimism, can hinder sales. "Our job is to guide sellers towards realistic pricing and help them navigate the market dynamics."

With 2025 approaching, the Greek real estate market is set for a year of steadier growth, marked by fewer but higher-value transactions, and sustained interest from international investors in untapped regional markets.