Greece’s luxury housing market enters a transitional phase

The numbers at a glance – March 1 to April 22, 2026

• +18.5% increase in buyer inquiries, compared to the same period in 2025
• €1.75 billion cumulative value of properties under consideration by active buyers
• €3.0 million median value of properties under consideration, up from €2.1 million last year (+43%)
• +22% increase in the value of new reserved deals, with a larger average deal size

A market in transition

Market signals during this period present a mixed picture that warrants careful reading.

On the strength side: Interest from international high-net-worth buyers remains solid and is strengthening, both in the volume of inquiries and in the value of properties under consideration. Signed deals are concentrated at the upper end of the market, with a larger average deal size.

On the caution side: In-person property viewings have pulled back compared to the same period last year, consistent with buyers postponing travel amid international uncertainty. The number of new deals over the 53-day period is also lower than last year.

The overall picture is one of a market in transition: core demand remains intact, while the intermediate stages of the decision-making process are becoming more deliberate.

Commenting on these findings, Savvas Savvaidis, President and CEO of Greece Sotheby’s International Realty, noted:

“Market signals this period are mixed and warrant careful reading. Core interest from international buyers remains solid and is strengthening, in both inquiry volume and the value of properties under consideration. At the intermediate stage, in-person viewings have pulled back and new deals are fewer in number. This is the picture of buyers extending their evaluation timelines amid heightened international uncertainty.

We have observed this pattern with precision in 2020, in 2022, and in every episode of geopolitical tension in between. The structure of demand remains intact. The pace of decision-making at the intermediate stage has historically returned each time confidence in travel is restored.

The 43% rise in the median value of properties under consideration reflects a precise shift in the composition of demand: those who remain active during this period are targeting higher-tier properties, as confirmed by the recent record deal of over €15 million signed within the reporting period. Greece continues to confirm its role as a destination for long-term capital commitment.”

The indicators to watch

The company believes the next six to eight weeks will be decisive for market behavior in the second half of the year. Three indicators are drawing the attention of Greece Sotheby’s International Realty’s analysis team:

First, the pace at which in-person property viewings resume. The current period shows a pullback at this stage, in line with the pattern seen in other periods of geopolitical tension. A return of viewings to a normal pace will be the most decisive indicator for the trajectory of the second half.

Second, the stability of demand composition. The current picture is one of a more targeted buyer, evaluating higher-tier properties; ongoing observation will show whether this composition holds, or whether the market broadens again toward lower tiers as confidence is restored.

Third, the maturation of signed deals into final transfers. Execution of deals to date is proceeding within expected timelines, without delays or cancellations. This is the most reliable indicator of genuine commitment, and will shape the picture of the market in the coming weeks.

The structural picture

Over a decade of systematic tracking of buyer inquiries, Greece’s luxury property market has absorbed the sovereign debt crisis, the pandemic, the energy crisis, and successive episodes of geopolitical tension — each time maintaining or expanding its base. The reasons are structural: EU membership, a legally transparent ownership framework, the permanent scarcity of Greece’s coastline, and a prime Athens market that remains substantially undervalued compared to other European capitals.

About Greece Sotheby’s International Realty

Greece Sotheby’s International Realty has operated since 2016 as the exclusive representative of the global Sotheby’s International Realty network in Greece, marking ten years of presence in the Greek market this year. With a cumulative deal volume exceeding €600 million and an active portfolio under management of more than €2 billion, it is the largest luxury real estate brokerage in the country. The company operates throughout Greece and has recorded more than 25 historic transaction records to date across the country’s most significant regions.