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Modern House
Modern House with a Pool

Greek house prices continue to rise strongly, despite the economic repercussions brought by the COVID-19 pandemic. In Greece’s urban areas, house prices rose by 8.35% during the year to Q3 2021, sharply up from the previous year’s 3.91% growth and the second best performance since Q1 2007, according to the Bank of Greece. When adjusted for inflation, house prices rose 6.41%. Quarter-on-quarter, house prices in urban areas were up by 2.73% in Q3 2021 (2.94% in real terms).

Greece had a great house price boom during the early-2000s. Real estate agents reported 30% to 40% annual price rises for properties near the sea in 2004. In Athens, house prices rose 11.2% in 2006, before slowing to 6.2% in 2007.

In the centre of Athens gross rental yields on apartments are moderate, at around 4.2% for apartments of 120 square metres (sq. m), but proportionately more for smaller apartments, according to Global Property Guide research.

The gross rental yield for apartments located in suburbs of Athens is slightly higher, at about 4.5%.  Houses in the suburbs have very low yields, ranging from 2.6% to 3.2%. 

In Crete, gross rental yields of apartments are around 3%. As in Athens, smaller apartments tend to earn higher yields.


In fact, according to a 2021 Ernst & Young investment report, Greece is now among the most attractive investment destinations in Europe, mainly due to the easiest entry of Golden Visa, among all.  “Greece ranks — for the first time — among the 10 most attractive destinations for foreign investment, with 10 percent of respondents mentioning Greece among the three most attractive countries for 2021.”

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