Press Releases

The holiday home market is emerging as a sector of high added value for the Greek economy. At a time when foreign direct investment is proving to be ever so important for Greece’s GDP growth, foreign entrepreneurs and investors are making significant moves in developing new holiday homes across various regions of Greece.

The year 2025 is expected to mark yet another period of sharp growth in the acquisition of holiday homes across Greece by European buyers. According to our data, during the first four months of this year (January–April), this continues the strong upward trend of 2024, with Belgium, the Netherlands, and Germany emerging as particularly dynamic markets.

The shift of homebuilders towards Crete's vacation home market in recent years is considered significant. The high demand from international buyers for newly built, energy-efficient homes has significantly increased investment interest. This trend is now reflected in the numbers as well, with construction activity in the housing market recording a major increase in 2024, according to data from the Hellenic Statistical Authority (ELSTAT). According to an analysis by Elxis – At Home in Greece, a leading company specialising in vacation home sales to foreign buyers, there was already a significant rise in activity during the first 11 months of 2024 compared to the whole of 2023, and even more so compared to 2022.

Holiday homes with areas from 70 to 95 square meters in alternative, low-tourism destinations, featuring a pool and barbecue, are expected to dominate the demand from foreign buyers this year. According to Elxis - At Home in Greece data, independent newly-built properties, of high standards, making use of outdoor spaces, with excellent construction quality and a price ranging from 270.000 to 400.000 euros, will be the main focus of interest among international buyers. This is stated in this year’s analysis of the trends expected to prevail in the Greek holiday home market.

More and more foreign investors consider the acquisition of property in Greece a once-in-a-lifetime opportunity, even after the price “rally” of the past few years. After all, Greece is still one of the most affordable markets in Europe.

Holiday home prices in Greece have continued rallying during 2024, as more luxurious properties become increasingly popular in Greece. According to data compiled by the Elxis team, the average amount spent on a holiday home in Greece has almost doubled in the past two years, now at 378,500 euros compared to 263,000 euros in 2022. In fact, over the past 12 months alone, the average amount spent increased by 27.8%. Despite the fact that the number of properties sold has remained roughly the same as last year, there is a trend towards larger, more luxurious properties. "This year, most of the houses sold for a value of around 350,000 euros, while last year the respective value was closer to 300,000 euros”, says Mr. Giorgos Gavriilidis, CEO and Founder of Elxis.