17.03.2025
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.
Specifically, according to ELSTAT, building permits were issued for 3,503 residences between January and November 2024. This represents an increase of 17.8% compared to 2023 (2,972 residences) and 45.8% compared to 2022 (2,401 residences). The highest increase was recorded in the Chania region, where the number of residential building permits rose by 46.5% compared to 2023 and 61.8% compared to 2022. These figures confirm the significant increase in investment for new vacation home developments, as demand far exceeds supply.
"In Crete's vacation home sector, we see all categories of developers, from local firms to nationwide groups, and from domestic real estate development companies to investment funds. Interest is strong, as supply lags behind demand, and prices have been steadily rising in recent years, with an average annual growth rate of 8%-10%," says Giorgos Gavriilidis, CEO of Elxis – At Home in Greece.
According to Elxis, new housing projects are being developed in Chania in areas such as Tsivaras (Apokoronas) and Marathi (Akrotiri), with detached houses selling for over €4,000 per square metre. In Kastelli, luxury beachfront apartments are being constructed, priced at €7,000 per square metre. In Maleme, just 100 metres from the beach, new vacation homes are selling for €5,500 per square metre, while in Kokkino Chorio, newly built villas are priced at €6,100 per square metre.
Significant investments in new vacation home developments are also taking place in Rethymno. In the northern part of the region, in Dramia near Georgioupolis, detached houses with swimming pools are being developed, selling for around €4,100 per square metre. In Kyrianna, vacation homes are priced at €4,300 per square metre, while in the city of Rethymno, sea-view apartments are being sold for €4,500 per square metre. Further south in Plakias, new constructions are priced at €5,000 per square metre, while in Asomatos, prices reach €4,000 per square metre.
As Mr Gavriilidis explains, companies aiming to attract foreign buyers need the right tools: "Elxis – At Home in Greece provides the necessary guidance so that developers can properly manage buyers and maintain continuous communication with them throughout the construction process. It is crucial to provide regular updates on construction progress, to adhere to delivery timelines, and to promptly resolve any technical issues that may arise after the property is handed over."
29.06.2026
More and more buyers from the United States and Canada are looking to fulfill their own "Greek dream" by purchasing a holiday home in Greece. According to our data, demand from these two markets increased by 50% during the first half of this year, establishing an entirely new trend in Greece's holiday home market.
25.05.2026
Holiday home prices across Greece are rising by 10.8% this year. According to a recent study of ours, the average price per square meter increased by 10.8% during the January – April period of this year compared to the same period last year, reaching €3,398/sq.m. from €3,067/sq.m. The main reason behind this increase is the significant rise observed in newly built properties, driven by strong purchasing interest from abroad, a sector in which we specialize, promoting properties to foreign buyers, mainly from Northern Europe and the United States. Specifically, in holiday homes purchased off-plan, the average value of signed contracts rose by 12.5% to €507,427. At the same time, the average price per square meter increased by 12%, from €3,790 to €4,245.
Commenting on this development, George Gavriilidis, CEO of Elxis, stated: “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.”
27.04.2026
Crete, the Peloponnese, and the Ionian Islands stand out this year in terms of demand for holiday homes from international buyers. At the same time, an increasing number of foreign buyers are seeking newly built properties “off-plan” to benefit from lower prices. These findings come from one of the recent analyses.
23.03.2026
A shift is evident this year in the profile of foreign property buyers in Greece, following adjustments to the Golden Visa program. According to an analysis by Elxis – At Home in Greece, demand for residency permits has dropped by 83% compared to last year. This is based on demand data and trends observed through Elxis’ network and its offices in the Netherlands, Thessaloniki, and Crete.
19.01.2026
Our survey forecasts notable changes compared to previous years and the formation of new trends in the holiday home market for 2026. Throughout our research, we identified an increasing shift not only toward luxury and high-end properties, but also toward more affordable holiday homes of smaller surface areas, based on demand observed in selected projects with such characteristics.
17.12.2025
Holiday homes with an average value of €450,000 were the primary choice in 2025 for foreign buyers. This represents a 37.3% increase over 2024, demonstrating international investors’ willingness to spend more to acquire higher-quality properties. This is the main conclusion of our latest survey by Elxis – At Home in Greece.
17.11.2025
Foreign buyers of holiday homes are showing a clear preference this year for more expensive and luxurious properties, as the percentage of those choosing homes worth over €600,000 has tripled. Even though prices have already risen significantly, international buyers continue to view the prospects of the Greek market — and the value it offers — very positively. As a result, they are turning to increasingly high-quality properties to upgrade their quality of life by acquiring the home of their “dreams.” These are some of the conclusions of the latest analysis of holiday-home market trends by Elxis – At Home in Greece (www.elxis.com), a leading company in selling holiday homes to foreign buyers.
24.10.2025
An exponential increase both in the speed of real estate transactions and in the overall size of the real estate market can be achieved through the availability of publicly accessible and reliable data, especially for prospective buyers from third countries. This was the key takeaway from the remarks of Mr. Dion Gavriilidis, Managing Partner of Elxis – At Home in Greece, a leading company in the sale of holiday homes in Greece.
