Summary
Annual property price growth in Greece slowed to 7.3% in the second quarter of 2025. This is the lowest figure in the past 3 years. After a period of rapid price increases, the market has entered a more stable phase.
Immigrant Invest’s legal experts have analysed the latest data and outlined what investors can expect.
Greece’s property market is slowing down
According to the Bank of Greece, apartment prices rose by 7.3% year on year in the second quarter of 2025. By comparison, the average annual growth rate stood at 9% in 2024 and 13.9% in 2023[1].
Price growth has slowed across most regions, including Athens and Thessaloniki.
A more moderate trend is also evident across property types: prices are rising more slowly in both new developments and the resale market.
While the market continues to grow, the pace has become more moderate. This shift indicates that the phase of rapid price escalation is likely coming to an end, signalling a transition to a more stable period of development.
Resale market outpaces new builds in price stability
Prices for apartments built less than 5 years ago rose by 6.8% in 2025, compared with 10.2% in 2024 and 12.9% in 2023.
Resale market proved more resilient: prices increased by 7.6%, compared with 8.2% in 2024 and 14.5% in 2023.
The slowdown in the primary market reflects softer demand and rising construction costs. Resale properties continue to attract buyers due to their more attractive balance between price and location.
Examples of real estate properties in Greece
Greece, Santorini
€450,000 — €550,000
Mediterranean style villa next to the sea in Santorini with guaranteed rent
83 m² — 94 m²
3 
1 
Greece, Athens
€741,000 — €1,423,000
Apartments in a closed residential complex near the sea, Alimos, Athens
86 m² — 142 m²1—3 2—3 
Greece
€600,000 — €629,000
Apartments after renovation with yield, Athens, Greece
162 m²2 2 Regions outpace Athens in price growth
Athens recorded the slowest price growth in the country — 5.9% year on year, compared with 8.5% a year earlier.
In Thessaloniki, prices increased by 8.8%, compared with 11.6% in 2024.
In other major cities, however, price growth accelerated to 8.5%, up from 7.5% the previous year.
For investors, this means a broader range of opportunities. While Athens used to be the main driver of the market, stronger price momentum is now being seen in regional centres and popular tourist areas.
Elena Kozyreva,
Managing Director for Real Estate projects
The slowdown in price growth does not reduce Greece’s investment appeal. Moderate growth rates typically indicate market stabilisation and the creation of favourable conditions for long-term investment.
Regions with sustained price growth are becoming new focal points for investors seeking an optimal balance between property values, location and potential returns.
How to obtain a Greek residence permit through property purchase
Investors who purchase real estate worth €250,000 or more are eligible for a 5-year residence permit in Greece. The application process takes at least 4 months.
Under Greece Golden Visa program, there are 3 investment thresholds:
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€250,000 — for properties bought for renovation;
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€400,000 — for new properties in most regions of Greece;
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€800,000 — for new properties in prime tourist areas, including Attica, Thessaloniki, Mykonos, and Santorini.
The property can be rented out on a long-term basis, with average rental yields reaching up to 5% per year.
After 7 years of continuous residence, investors may apply for Greek citizenship. They will need to pass exams on the language, history, and culture of the country.
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