Greek Property Price Growth Adjusts to a More Sustainable Level in 2024

According to the latest annual price survey by the RE/MAX Hellas real estate agency network—aligned with trends observed in the Bank of Greece indices—the Greek real estate market entered a more stable phase of growth in 2024.

Specifically, the nationwide average price increase in 2024 was 6.5%, down from 12% in 2023. While the pace of growth has moderated, property values continued to rise—reflecting steady demand, particularly as individuals and investors still view real estate as a reliable store of value.

For newly built properties (up to 5 years old), prices rose by 6.1%, reaching €3,000/m², compared to 11% the year before. Older properties (over 5 years old) saw a 6.8% increase, reaching €2,000/m², down from a 13% rise in 2023.

RE/MAX noted: “The upward trend in property prices continued in 2024, not only in major urban centers but also in popular tourist destinations, due to high demand and limited supply. With the Greek economy steadily improving, real estate remained a preferred investment avenue for both personal use and capital preservation.”

In the Attica region, the trend was similar, with more moderate growth. Older properties increased by an average of 6.5% (compared to 13.1% in 2023), reaching €2,460/m², while newly built homes rose by 6% to €3,705/m² (from €3,470/m² the year before).

In central Athens, older properties (5+ years) increased by 6.3%, with an average price of €2,443/m², up from €2,300/m²—still maintaining a strong position for capital growth and investor interest.

Notably, areas such as Koukaki and Neos Kosmos saw steeper increases due to strong short-term rental demand. The government’s decision to suspend new registration numbers for short-term rental properties starting in early 2025 further accelerated purchasing activity in late 2024, pushing prices higher in high-demand neighborhoods.

Portico & Bridge, under the direct advisory of Mr. Frangos Frixos—a Greek real estate advisor with over 20 years of experience in the Athens and Thessaloniki markets—currently manages and distributes a number of curated property portfolios in key locations. As price growth returns to more reasonable levels, the role of local advisors like Mr. Frixos becomes increasingly important: not only in identifying true appreciation potential, but in navigating legal complexities, zoning restrictions, and long-term rental viability.

Unlike the overheated growth of previous years, today’s Greek property market is shifting toward value consolidation and investor selectivity. Portico & Bridge focuses on properties with clear ownership structures, flexible exit options, and strong long-term fundamentals—rather than risky short-term speculation.

Combining local insight with international investor support, Portico & Bridge helps clients approach the Greek market with strategy and confidence—at a time when stability, legal transparency, and long-term vision are essential to success.