Market Insights

Trying to figure out what a property in Greece is really worth has become surprisingly difficult. Not because there’s no demand, on the contrary, the market has been rising steadily, but because “value” in Greece is no longer a single, stable concept. Overall, the market looks healthy. According to the Bank of Greece, apartment prices increased by 7.8% on average in 2025, based on provisional data published in its Q4 2025 residential property price index. However, this overall figure masks important regional differences. In the fourth quarter of 2025 alone, prices rose by 5.9% in Athens, 8.0% in Thessaloniki, 10.5% in other cities, and 8.6% in other areas of Greece, highlighting how uneven price dynamics can be across the country.

For decades, property ownership and transactions in Greece operated within a framework that, while formally legal, often failed to reflect reality. Until around 2010, notaries were generally required to describe properties in contracts strictly according to the approved building permit (oikodomiki adeia). In theory, this ensured legal consistency and documentary certainty. In practice, however, it created a system in which the official description of a property could diverge significantly from its actual physical condition. 


This gap between documentation and reality became one of the defining weaknesses of the Greek property system. It affected not only legal certainty, but also taxation, urban planning, and the reliability of real estate transactions. In recent years, Greece has responded through a dual transformation: first, by creating a legislative framework for the declaration and legalization of unauthorized constructions; and second, by introducing a series of digital reforms intended to produce a more accurate, transparent, and immediately accessible record of property ownership and status. Although these reforms have, for the time being, introduced new layers of procedural complexity and what many describe as a form of “digital bureaucracy,” they are also laying the foundation for a more coherent and efficient system in the future.

If you are interested in understanding how short-term rentals work, we have a separate guide you can find here.

For those considering a long-term lease, understanding the legal framework is essential. Below, you’ll find everything you need to know about expected income, documentation, taxes, and property management options.

In 2025, Greece reached a major milestone that answers all these questions in a very positive way: air traffic fully recovered to pre-pandemic levels, placing the country among Europe’s strongest aviation and tourism markets. And the outlook for 2026 suggests that this momentum is not slowing down. For property buyers, this is a clear signal of long-term demand, accessibility, and value. In a previous article, which you can find here, we highlighted the improvements in air connectivity across Greece.