Greece’s luxury residential market has shrugged off this year’s geopolitical uncertainty, with buyer demand rebounding strongly after a brief slowdown triggered by the Middle East crisis, according to the latest Greece Sotheby’s International Realty market report.
Buyer demand reached €6.11 billion during the first half of 2026, exceeding the market’s five-year average by 19%. The brokerage estimates that the market required just 40 days to recover from the disruption caused by the regional conflict before returning to its long-term growth trajectory.
Buyers are spending more
The average value of buyer enquiries rose to €5.89 million, up from €5.12 million a year earlier, while the median enquiry value climbed 28% to €2.95 million. Average asking prices across the luxury market reached €8,333 per square metre, although pricing varied significantly depending on location and asset quality.
Properties listed by Sotheby’s International Realty ranged from €1,835 per square metre at the lower end of the market to as much as €40,000 per square metre for ultra-prime residences.
Mykonos remains king, but the Athens Riviera is closing the gap
Mykonos continues to command Greece’s highest luxury property prices, with average asking prices approaching €11,000 per square metre. However, the Athens Riviera is rapidly emerging as the country’s most dynamic mainland luxury market, recording average asking prices of €10,213 per square metre. Prime locations in central Athens followed at €9,490 per square metre, while Lefkada and Paros both exceeded €9,000 per square metre.
According to Sotheby’s, the rapid progress of landmark developments including The Ellinikon and Apollo Hills is fundamentally reshaping buyer demand on the mainland. Branded off-plan residences along the Riviera are already commanding prices above €26,000 per square metre.
Other destinations attracting sustained international interest include Corfu, Tinos, Kea, Zakynthos, Kefalonia, Crete and Athens’ northern suburbs, although average pricing there remains considerably lower.
Greeks, Britons and Americans lead demand
Completed transactions took an average of 238 days from listing to contract signing, although 41% of homes sold within six months. Perhaps more significantly, 72% of properties that underwent a price revision between 2025 and 2026 reduced their asking price, with an average discount of 8%.
Domestic buyers accounted for the largest share of enquiries during the first half of the year at 18.8%, followed closely by buyers from the United Kingdom (17.4%) and the United States (14.5%).
Interest from the United Arab Emirates fell by 20% year-on-year. At the same time, European interest accelerated sharply. Buyer enquiries from Spain surged 470%, while demand from the Netherlands increased 200% and Belgium more than doubled.
