The Greek real estate market 2025: prices, returns, and analysis

For real estate agents and private bankers, 2025 has become a time of confirmation of forecasts: the Greek market is stable, liquid, and shows growth above the average in the EU. Below is a detailed analysis based on data from Bank of Greece, ELSTAT, and Global Property Guide.

Residential Property Prices in 2025

The average price growth for housing in Greece was 7.7% year-on-year. Notably, the secondary market is outpacing new builds, and Thessaloniki has become a leader in terms of price growth.

Price changes by property types and regions:

The secondary market is increasing by 8.5%, making investments in renovation properties (fix-and-flip) one of the most profitable strategies of the year.

Commercial Real Estate

The commercial sector is supported by high demand from the tourism business and international chains.

Dynamics of commercial property values:

• Commercial units (overall): +5.5%
• Retail spaces: +7.2%

However, there is different dynamics in the rental business between the capital and the northern capital:

Change in Rental Rates:

Rental Yield

For investors focused on passive income, real estate in Greece remains more profitable than government bonds (the spread is 131 basis points).

Average yield by cities:

Transactions and Construction

The market maintains high liquidity, which is critically important for investors planning to exit an asset in 5–7 years (after obtaining permanent residency or a passport).

• Transaction Volume: 41,743 transactions totaling €4.2 billion.
• New Construction: In October 2025, the number of building permits issued increased by 13.5% (2,997 permits).

Conclusions

1. Thessaloniki is the leader in capitalization growth (+9.6%).
2. Athens is the leader in rental yield (5.43%).
3. Commercial real estate is the most stable segment in the commercial sector.