The Greek luxury housing market is estimated at €800 million to €1 billion annually, based on transaction volumes. By comparison, the total Mediterranean luxury real estate market is valued at around €50 billion, leaving Greece with a market share of just 2%, according to Greece Sotheby’s International Realty.
Our findings confirm that Greece has achieved pricing levels comparable to mature markets such as Mallorca and Ibiza. Yet our share of the Mediterranean market remains at just 2%, underlining the significant growth potential ahead
Savvas Savvaidis, President and CEO of Greece Sotheby’s International Realty
Average prices in Mykonos now stand at €10,800 per square metre, compared with €11,600 per sq.m. in Ibiza. On the Athenian Riviera, prices average €10,500 per sq.m., approaching levels seen in Dubai’s coastal developments (€12,600 per sq.m.).
In the Ionian Sea, Corfu records average prices of €8,900 per sq.m., versus €9,900 per sq.m. in Mallorca. For mainland destinations, the Peloponnese posts average prices of €5,500 per sq.m., exceeding those of Tuscany (€4,000 per sq.m.).
Who is buying – and where
The typical buyer profile skews mature and financially strong. The largest age group is 54–64 years old (33.6%), followed by buyers aged 45–54 (29.6%), with an average buyer age of 54. The median investment budget stands at €2.5 million, with 87% of buyers targeting properties priced between €1 million and €5 million, and 13% investing above that range.
Greek buyers primarily focus on the Athenian Riviera and northern suburbs (42%), followed by the Cyclades (28%), the Peloponnese (15%) and the Ionian islands (10%). International buyers show a stronger preference for the Cyclades (40%), followed by the Ionian islands (20%), the Athenian Riviera (15%), and Crete and the Dodecanese (10%).
On the Greek luxury housing market, foreign buyers account for 67% of total demand, led by investors from the United States (12%), the United Kingdom (10%) and France (8%). Greek buyers represent the remaining 33%.
Purchase intent remains high, with 63% of respondents stating they plan to buy property in Greece. However, one in two buyers is also evaluating alternative Mediterranean markets, primarily Italy (15%), France (10%) and Spain (9%).
