Will House Prices in Greece Fall? Is 2026 a Good Time to Buy?
Written by: Marcus M. Araz, MBA, PhD · Updated:
No, they are not falling; growth continues but is slowing. According to the Bank of Greece, apartment prices rose 5.5% year on year in the second quarter of 2026. The rate of growth was 9.1% in 2024 and 8.3% in 2025. Prices have risen about 86% since the 2017 low and have passed the pre-crisis 2008 peak in nominal terms. Rents are rising too: 3.8% nationwide in 2026. The Greek market is not cooling; it is maturing.
Greece in numbers, 2026
| Area | Apartment prices, annual change (Q2 2026) |
|---|---|
| Greece overall | up 5.5% |
| Athens | up 5.0% |
| Thessaloniki | up 4.7% |
| Other major cities | up 5.4% |
| Rest of the country | up 7.1% |
| New apartments (under 5 years old) | up 6.2% |
| Older apartments | up 5.0% |
The table has two messages. First, prices are now rising fastest not in Athens but in the rest of the country; prices in the big cities have reached high levels and buyers are looking further out. Second, new apartments are gaining value faster than older ones, because for many years Greece built almost no new homes.
What is supporting prices
- Limited new housing: construction almost stopped during the crisis of the 2010s, and new homes are still not being built fast enough to meet demand.
- Tourism and short-term letting: some city centre homes have left the long-term rental stock, which supports rents.
- Foreign demand: the Golden Visa remains one of Europe’s lowest-threshold property programmes; since the 2024 threshold rise, demand has shifted to conversion projects and regions outside Athens.
- Rent growth: according to RE/MAX Greece, rents rose 3.8% nationwide and 4.3% in Attica in 2026.
Risks
- Growth is slowing: the pace falling from 9% to 5.5% points to more moderate single-digit growth in the coming years.
- Short-term letting restrictions: no new short-term rental registrations are accepted in three municipal districts of central Athens until the end of 2026, and homes bought under the Golden Visa cannot be let short term.
- Pricing at the Golden Visa threshold: in €250,000 conversion projects the price is set by the value of the visa, not by rent; gross rental yields in these projects are around 3%.
Does buying now make sense?
If you are aiming for the Golden Visa, waiting has no advantage: thresholds rose twice, in 2023 and 2024, and prices keep rising. If you are aiming for rental yield, it makes more sense to look at flats priced at market level or at regions outside Athens rather than new projects priced at the Golden Visa threshold. For buying and selling in the short term, purchase costs (about 7% of the price) and slowing growth are obstacles.
City by city detail: Is buying in Athens a good idea and Is buying in Thessaloniki a good idea.
Who it suits and who it does not
Suits
- Families who want EU residency
- Those looking for a euro asset with steadily rising prices
- Those looking for a larger home or villa outside Athens
Does not suit
- Investors whose priority is a high yield
- Anyone planning to sell at a profit within a few years
- Anyone planning to run a Golden Visa home on Airbnb
Greece in our portfolio
Our conversion projects in Athens, Piraeus and Thessaloniki start at €250,000. Outside Athens, in a region that falls under the €400,000 Golden Visa tier, we have Levante Villas : detached villas with 130 m² of internal space, 100 metres from the sea. See them all on our project map.
Frequently asked questions
Will house prices fall in Greece? The data show no fall. According to the Bank of Greece, apartment prices rose 5.5% year on year in Q2 2026; growth is slowing but continuing.
Have Greek house prices passed their 2008 level? In nominal terms, yes. Prices have risen about 86% since the 2017 low and are above the pre-crisis 2008 peak; the gap is larger in Attica.
Where in Greece are prices rising fastest? In Q2 2026 the fastest growth was outside the big cities (7.1%). Athens rose 5.0% and Thessaloniki 4.7%.
Is buying in Greece in 2026 a good idea? For the Golden Visa and a long-term euro asset, yes. Not for a high rental yield or short-term buying and selling.
Will Golden Visa thresholds rise again? No one can say for certain; thresholds changed twice, in 2023 and 2024. If you are aiming for the Golden Visa, it is safer to confirm the current rules with your lawyer and not delay the decision.
Sources
The apartment price index is Bank of Greece data (Q2 2026, as reported by Athens News ). The 2008 and 2017 comparison is from Global Property Guide, and rent growth from RE/MAX Greece’s 2026 rent map . Forecasts are not guarantees.
How we help you with this
As capital.works®, the Overseas Property Centre, we represent selected developments in Greece. There are currently 9 Greek developments live on the site, each with its price list, floor plans and completion schedule on its own page. We are an FCA authorised credit broker (FRN 1049015) and a member of the NACFB; the purchase, the finance, residency and post completion management are all run by one team.
Legal notice
capital.works® (YATIRIM UK LIMITED) is a property consultancy; it does not provide legal, tax or immigration advice. In Greece, the title transfer, tax number and Golden Visa application are handled by a lawyer registered in Greece. Golden Visa conditions can change with new legislation; confirm the current rules with your lawyer before deciding to buy.
The next step
Tell us whether you are looking for the Golden Visa or rental income, and your budget; we will send the options in Greece with purchase costs: Contact us.