The Greek luxury real estate market has experienced dynamic growth in 2024, attracting both domestic and international investors. With increasing demand and new opportunities, Greece is establishing itself as a top destination for high-value real estate investments.
Despite global economic fluctuations, the Greek luxury housing market not only remained resilient but also showed impressive growth in 2024, reaffirming its position as a premier destination for high-value investments. Athens – particularly the Athenian Riviera – as well as areas such as the Ionian Islands and the Central Aegean, led the preferences of domestic and international buyers, shaping a dynamic landscape expected to continue into 2025.
The Most Sought-After Areas
According to the third annual report by Greece Sotheby’s International Realty, the Greek luxury real estate market recorded total sales of €500 million over the past five years, with 2024 being one of its best years.
- Athenian Riviera: Dominated demand, accounting for 17% of total inquiries, while Athens as a whole absorbed 30% of the market.
- Ionian Islands (Corfu, Lefkada) and Crete: Maintained their momentum, attracting strong interest from international investors.
- Mykonos: Despite its historical dominance, fell to sixth place, experiencing an 18% drop in purchase inquiries.
Changing Buyer Behavior
One of the most notable findings of the report is the shift in buyer behavior, with the percentage of interested parties proceeding directly to a purchase more than doubling – from 6.5% in 2023 to 14.2% in 2024. This development indicates that the Greek market is now attracting serious investors ready to close deals without delays.
The increased activity is mainly driven by High Net Worth Individuals (HNWIs), who continue to view Greece as one of the most attractive destinations. These investors seek properties that combine high quality of life, strategic location, and favorable tax or financial incentives – all of which the Greek market offers in abundance.
The Return of Greek Buyers
Another remarkable trend is the return of Greek buyers to the top of demand, capturing 16% of the total market share, a sign of growing confidence in luxury real estate value. American investors ranked second, also with 16%, despite a slight 4.3% decrease compared to 2023. British buyers ranked third, recording a 17% increase, while the top five were completed by France (9%) and Germany (4%), both of which saw slight declines in demand.
International interest in Greek luxury properties remains high, with Sotheby’s International Realty offices in Italy, Spain, Dubai, and the French Riviera reporting stable or increasing demand. Coastal lifestyle properties continue to dominate, confirming the timeless appeal of the Greek coastline as a luxury living destination.
Outlook for 2025
The outlook for 2025 remains optimistic, with markets anticipating further interest growth from high-profile investors. Locations that offer an upgraded lifestyle and strong investment prospects will continue to stand out, while international markets such as Paris, Miami, Hong Kong, and Cyprus are expected to sustain steady demand.
With the market remaining dynamic and investment interest unwavering, Greece is solidifying its position on the global luxury real estate map, ready to seize the opportunities that 2025 will bring.
