01.10.2026
Eirini Notara
After several years of rapid price increases, Greece’s housing market is showing signs of a more moderate pace in 2026. But the slowdown is not appearing in all segments in the same way. Holiday homes and newly built properties continue to attract strong demand internationally, while in the broader residential property market price growth is beginning to slow.
According to the latest data from the Bank of Greece, apartment prices across the country increased by 5.5% in the second quarter of 2026, slowing down the 5.7% increase noted in the first quarter of the year, and is considerably below the 8.3% average annual increase recorded in 2025.
For Greece’s holiday-home market, the picture is different.
"Prices have been steadily rising in recent years, at an average annual rate of eight to 10%," said Giorgos Gavriilidis, CEO and Founder of Elxis. More specifically, according to Elxis’ data, the average price per square meter of holiday homes rose by 10.8% in the first four months of 2026, compared with the same period last year, reaching €3,398 from €3,067. Much of this growth comes from foreign newly built properties, which continue to attract strong interest from foreign buyers, mainly from Northern Europe and the United States.
This increase is most visible in newly built properties. The average value of signed contracts rose by 12.5% to €507,427, while the average per square meter climbed 12% from €3,790 to €4,245.
The strength of newer properties is also visible in the broader Greek housing market, with new apartment prices increasing by 6.2% in the second quarter of 2026, compared with 5% for older apartments, as the Bank of Greece data shows.
In the holiday-home market, this trend has become even more pronounced: Over the past 12 months, the average price of a newly built villa, including a garden and swimming pool, has increased by 10.2% to €4,675 per square meter. In 2022, the same type of property sold for €3,458 per square meter, an overall increase of 35%.
"This year's increase and the overall trend highlight the strong interest in newly built homes, despite increases in construction costs due to price adjustments. Buyers seeking modern specifications, high energy efficiency, and flexible usage options, such as personal use or investment purposes, continue to drive demand in the Greek market," said Mr. Gavriilidis.
Resale properties show a different pattern. In completed transactions during the first four months of the year, the average total selling price fell by 13.3% to €251,667, down from €290,167 in the same period last year. The average price per square meter, on the other hand, rose by 8.9% to €2,550 from €2,342, indicating that “buyers shifted toward smaller or lower overall cost properties, without reducing the value per square meter," explains Mr. Gavriilidis.
Crete remains one of the most popular destinations for foreign buyers, with Germans and Americans among the most active. Based on actual transaction data of ours, the average home price on the island increased by 3.3% during the first four months of 2026, reaching €456,600 compared with €442,000 in the same period of 2025. The increase is more moderate than elsewhere, and it points to steady demand in one of Greece's most sought-after holiday-home markets.
According to Mr. Gavriilidis, newly built villas priced between €400,000 and €500,000, with private pools and close to the sea or with sea views, are difficult to find in other European countries. Properties like these also offer investment potential through seasonal rentals, as well as capital appreciation in the event of a future sale, as this year's figures already suggest.
Holiday homes and newly built properties, in particular, continue to record higher prices, supported by steady international demand and a shift towards higher-quality homes. Today’s buyers look at value, stability, and long-term use, and many of them wish to spread their investments beyond their home country.
In a market where location, property type, and specifications can make an increasingly significant difference, having a clear understanding of the options available becomes even more valuable. This is where we can help. Since 1991, Elxis has been helping international buyers navigate the Greek property market and find a home that matches what they are looking for. Feel free to reach out to us, and our team will be happy to help.
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