Real estate prices are steadily rising - challenges in Greece and Europe

The trend of rising real estate prices continues to strengthen according to research and data presented by brokerage agencies and real estate firms. However, the characteristics of properties that are in demand differ at both residential and commercial levels. After a period of economic instability and recession, the real estate market in Greece is in a recovery phase.

In particular, according to the latest RE/MAX Greece study, there has been a significant increase in real estate prices at the end of 2023, with an average growth of 12% across all categories of properties, regardless of their year of construction.

The real estate market in Greece remains one of the main pillars of the economy, and after a period of economic instability and recession, the real estate market in Greece is in a phase of recovery. The return to economic stability and positive growth rates, combined with an increase in tourism and the attraction of foreign investors to the country, has given a strong boost to the market, significantly contributing to the growing interest in real estate and rising prices, according to RE/MAX.

Important points:

• The average price increase for real estate in Greece at the end of 2023 was 12% for all categories of property.
• The significant price increase is due to increased demand and improved purchasing power of Greek consumers.
• Interest in Greek real estate among foreign investors is also significant.

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