Greece’s real estate sector continues to gain momentum, supported by a robust economic foundation, sustained foreign interest, and resilient demand across both residential and commercial segments. With favorable market conditions and long-term growth prospects, Greece is consolidating its position as one of Europe’s most attractive destinations for real estate investment.
A Resilient Economy Fuels Real Estate Growth
According to the Bank of Greece (March 2025), the Greek economy expanded by 2.3% in 2024, outperforming the euro area average. The 2024 primary surplus exceeded even the most optimistic forecasts. According to data announced by the Hellenic Statistical Authority and Eurostat, a primary surplus of 4.8% of GDP was registered in 2024, compared to an initial forecast for a primary surplus of 2.5% of GDP. Additionally, the credit rating agency Standard & Poor’s upgraded Greece’s sovereign credit rating to BBB from BBB- on April 18th 2025, with a stable outlook. It is now the third of five credit agencies recognized by the European Central Bank -after Scope and DBRS- to issue an investment-grade upgrade for Greece in recent months.
Looking ahead, the Bank of Greece projects continued growth of 2.3% in 2025, driven primarily by strong investment activity and rising private consumption, benefiting from the strengthening of real disposable income due to continued employment growth, wage growth amid a still tight labor market and minimum wage increases, as well as lower inflation. This solid macroeconomic performance is laying the groundwork for a healthy and dynamic property market.
Positive Momentum in Real Estate Market Trends
The last 2 years, both residential and commercial property prices, especially in prime office and retail sectors, continued to rise at a steady pace. This growth has been supported by strong domestic and foreign demand, particularly in sought-after urban areas and coastal regions.
Residential Market Highlights:
Apartment prices increased by 8.7% in 2024, continuing their upward trend despite a gradual deceleration. The average annual price increase rate for new apartments was 10.1%.
In Q4 2024, apartment prices rose 6.6% year-on-year, marking seven consecutive quarters of slower, yet sustained growth.
Since their lowest point in Q3 2017, apartment prices have climbed 73%, although still 0.4% lower compared to their historic peak in 2008.
Construction Activity & Rental Market Trends
The last 5 years, prices for new developments surged by +56%, according to the Bank of Greece. Construction activity also surged, with building permits in Attica rising by +88% during the same period (Hellenic Statistical Authority, March 2025).
Additionally, actual rental prices in Greece rose almost +12%, compared to +11% in the EU overall (Eurostat, Feb 2025, HICP), highlighting Greece's competitive edge while maintaining relative affordability.
Spotlight on Athens: Where Demand Meets Opportunity
The region of Athens and the surrounding suburbs—remains a magnet for both Greek and international investors seeking for residential real estate. Limited new supply, coupled with robust demand, has driven significant price increases.
According to the latest figures from the leading property listing platform in Greece, offering the largest volume of real estate listings nationwide, Piraeus Center led the surge with a remarkable +39.9% increase in sale prices, thanks to large-scale infrastructure projects and urban revitalization.
Athens Center, the Southern Suburbs (including the Athenian Riviera), and the Northern Suburbs continue to dominate investor interest due to their lifestyle offerings, connectivity, and proximity to key cultural and economic hubs. Stavros Niarchos Foundation Cultural Center in Athenian Riviera
Tax Advantages & Incentives for Investors
Greece continues to offer one of the most investor-friendly real estate environments in Europe, including:
Lowest property tax levels among EU countries
No capital gains tax on property sales under specific conditions
No 24% VAT on new building purchases (suspension in effect since Q4 2019)
Combined with ongoing urban regeneration initiatives and the continued popularity of the Greek Golden Visa, Greece’s profile is further enhanced as a prime destination for real estate investment.
MIBS Group has significantly expanded its dynamic portfolio across the aforementioned high-demand areas, delivering premium residential properties tailored to meet the expectations of the most discerning clientele. A prime example is Etolikou 11, an exclusive complex of 158 serviced apartments located in the vibrant heart of Piraeus port. This landmark project exemplifies modern urban living, distinguished by its refined aesthetics, superior services, and luxurious lifestyle offerings.
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