Greek Real Estate Market Produced Amazing Gains Over the Last Six Years! Forecast Remains Robust

Athens March the 13th 2025 for Property Investment News 

Since 2020, Greece’s real estate market has experienced a remarkable resurgence, establishing itself as one of Europe’s most promising investment landscapes. This period has been characterized by consistent property value appreciation, robust foreign investment, and strategic policy shifts that have collectively transformed the market’s dynamics.

Market Performance (2020-2025)

The Greek housing market has demonstrated sustained growth over the past six years. In the first quarter of 2024, urban house prices rose by an impressive 10.76% year-over-year, marking the tenth consecutive quarter of double-digit growth.

Notably, Athens, the capital city, saw house prices increase by 9.35% during the same period, reflecting the city’s burgeoning appeal to both domestic and international buyers.

Projections indicate that this upward trajectory is set to continue. The total value of Greece’s residential real estate market is expected to reach approximately $1.34 trillion by 2025, with an anticipated annual growth rate of 3.44% leading to a market volume of $1.82 trillion by 2029.

This sustained growth underscores the market’s resilience and attractiveness.

Golden Visa Program: Evolution and Opportunities

A significant catalyst for foreign investment in Greek real estate has been the country’s Golden Visa program. Introduced in 2013, it offered residency to non-EEA nationals in exchange for specific direct investments in real estate or financial instruments. Initially, the program required a minimum investment of €250,000 in real estate, making it one of the most accessible residency-by-investment schemes in Europe.

However, recent changes have adjusted these thresholds. As of September 2024, the minimum real estate investment has increased to €800,000 in high-demand areas such as Athens, Thessaloniki, and islands with more than 3,100 inhabitants. In other regions, the threshold is set at €400,000.

These adjustments reflect the program’s success and the heightened demand for Greek residency.

Pioneering Outreach to Kenyan Investors

In a strategic move to diversify and expand the investor base, Kioleoglou Kosta, Managing Partner of Avakon, highlighted the potential of the Greek real estate market to Kenyan investors. In his interview with Business Daily Africa on October 29, 2019, (https://www.businessdailyafrica.com/bd/news/firm-woos-kenyans-to-put-money-in-greece-real-estate-2269030) Engineer Kioleoglou Kosta emphasized Greece’s favorable investment climate, robust property appreciation rates, and the benefits of the Golden Visa program. This initiative opened new avenues for Kenyan investors seeking opportunities in Europe.

Current Investment Landscape and Future Prospects

Despite the increased investment thresholds, Greece’s real estate market remains a fertile ground for investors. The country’s strategic location, coupled with a thriving tourism sector, continues to drive demand for both residential and commercial properties. Technological advancements, such as the integration of smart home technologies, have further enhanced property values, with homes featuring these innovations experiencing a 15% increase in value.

Looking ahead, the market is poised for continued growth. Factors such as economic stability, infrastructural developments, and sustained foreign interest are expected to contribute to the sector’s expansion. For investors, this translates to promising opportunities for capital appreciation and portfolio diversification in one of Europe’s most dynamic real estate markets. In conclusion, Greece’s real estate market has not only rebounded since 2020 but has also charted an impressive growth trajectory. While the evolution of the Golden Visa program reflects the market’s maturation, the underlying fundamentals continue to offer lucrative opportunities for discerning investors worldwide.

Kioleoglou Kosta is a Civil Engineer , Meng / Msc  REV Valuer By Tegoca , Certified Safety Engineer  , Managing Partner Avakon