Greece’s housing market is still getting more expensive, but the pace of price growth is slowing.
Asking prices for homes for sale rose 6.1% year over year in the second quarter of 2026, according to Spitogatos Property Index data, down from a 9.7% annual increase a year earlier. Rental asking prices increased just 1.3%, compared with 7.2% in the same period last year.
The moderation suggests that Greece’s property boom, fueled in recent years by foreign demand, tourism, short-term rentals and renewed mortgage activity, may be losing some momentum. Still, the market remains highly uneven, with Athens’s southern suburbs and the Cyclades islands among the country’s most expensive areas.
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In Attica, the wider Athens region, asking prices for home purchases rose 5.3% from a year earlier, compared with 9.4% growth in the second quarter of 2025. Rents in Attica increased 4.5%, broadly in line with last year’s pace, underscoring continued pressure in the capital’s rental market.
Thessaloniki, Greece’s second-largest city, also recorded slower but still robust growth. Asking sale prices rose 7.7% annually, down from 11.4% a year earlier, while rents climbed 6.6%, compared with 10.9% in the second quarter of 2025.
Athens’s southern suburbs remain the country’s priciest market for home purchases, with average asking prices at €4,231 per square meter. The Cyclades followed closely at €4,063 per square meter. For rentals, the Cyclades topped the ranking at €14.40 per square meter, ahead of Athens’s southern suburbs, central Athens, Lefkada and Athens’s northern suburbs.
At the other end of the market, Kastoria in northern Greece remained the cheapest area to buy a home, with average asking prices of €585 per square meter. Pella posted the lowest rental asking prices.
Within Athens, Vouliagmeni remained the most expensive area to buy property, at €7,364 per square meter, and also the most expensive rental market, at €22 per square meter. More affordable areas included Varnavas for purchases and Agios Stefanos for rentals.
Some lower-priced districts are still seeing sharp increases. In Attica, sale asking prices rose 30.2% in Drosia and 27% in Dafni, while rents jumped 29.1% in Drapetsona. In Thessaloniki, Xirokrini–Panagia Faneromeni recorded an annual sale-price increase of more than 30%, while Mygdonia led rental growth at 25%.
The mortgage market is also adjusting to higher prices. Data from IMS-FC, a mortgage-credit broker and Spitogatos partner, showed that Greek banks are financing a larger share of property values than a year earlier. Average loan-to-value ratios rose across loan categories, with some borrowers now able to finance up to 90% of a property’s appraised value, depending on their credit profile.
