Israelis Lead Foreign Buyers in Greece as Most Transactions Fall Under €200k

Israelis top foreign demand in real estate in Greece — what the numbers tell us

Israelis are now the most active foreign buyers in the real estate in Greece market, according to RE/MAX Hellas's 2025 data. That shift matters because it points to different buyer profiles and price sensitivity than the large, Golden Visa–led deals that dominated headlines in previous years.

The headline figures are clear: Israelis led purchases in Attica and Thessaloniki, foreign buyers most commonly paid €100,000–€200,000 for homes, and 52% of foreign purchases were for a second or holiday home. Our analysis of the RE/MAX Hellas dataset and what it means for buyers and investors follows.

What RE/MAX Hellas found in 2025

RE/MAX Hellas compiled sales data across its 88 offices and identified trends in nationality, purchase price, property size, and buyer intent. The key findings:

• Israelis were the most active foreign buyers in Attica and Thessaloniki.
• 47% of foreign purchases were priced between €100,000 and €200,000.
• 27% of purchases were in the €200,000–€300,000 bracket.
• 17% were in the €50,000–€100,000 range, often properties in need of renovation.
• 52% of acquisitions were second or holiday homes.
• 30% were acquired primarily for investment (rental or resale).
• 10% were purchased as a primary residence.
• Only 8% of the transactions were tied to securing residency under the Golden Visa program.
• 75% of purchased homes measured 61–100 sq. m.
• After Israelis, the most active foreign buyers in Attica were from Turkey and Lebanon, followed by China and Ukraine.
• 57% of foreign buyers left open the possibility of permanent relocation to Greece, while 18% were explicitly positive about that prospect.

Those numbers are useful because they change the buying and selling dynamic: smaller, mid-priced apartments in urban and suburban areas are where most foreign demand is concentrating.

Why Israelis are leading and what that means for buyers

A few practical reasons explain the Israeli surge:

• Geographic proximity and frequent flights make Greece an accessible weekend and holiday destination.
• Cultural and lifestyle similarities encourage holiday-home purchases in Athens and northern Greece.
• The price bands favored by Israeli buyers — especially €100k–€200k — suit second-home budgets more than wealthy, residency-seeking buyers.

What this means for other buyers and investors:

• Sellers and agents should expect negotiation toward mid-range pricing rather than luxury premiums.
• Investors looking for rental income should focus on the most in-demand size — 61–100 sq. m — which accounts for 75% of foreign purchases and suits small families and long-stay tourists.
• Buyers from other countries may face stronger competition in this mid-market segment.

I’ve seen similar shifts elsewhere: when a nationality concentrates on a price band, local market dynamics change quickly — more renovation projects, more furnished-apartment listings aimed at holiday rentals, and a faster turnover of mid-sized units.

Price bands, property condition and renovation realities

The distribution of price bands tells a story about product quality and required capital beyond the purchase price:

• €100k–€200k: 47%. This is the sweet spot for holiday homes and short-term rental investments. Properties at this level will often be move-in ready or require cosmetic upgrades.
• €200k–€300k: 27%. These typically include newer apartments, better locations or upgraded finishes; they appeal to buyers aiming for longer stays or higher rental rates.
• €50k–€100k: 17%. These properties are often small or older units in less central towns and usually need renovation. Buyers in this bracket must budget significant additional sums for refurbishment.

A realistic buyer budget must therefore include:

• Purchase price
• Transfer taxes and notary fees
• Agent fees and legal checks
• Renovation and furnishing costs, when buying lower-priced units

From practical experience, buyers who omit renovation in their cost planning end up with much lower yields or are forced to inject more capital to make a property rentable or livable.

Purpose of purchase: holiday, investment or permanent move?

Buyer intent drives expected returns and the sales process. RE/MAX data shows:

• 52% purchased for second/holiday-home use.
• 30% bought for investment (rental or resale).
• 10% bought as primary residences.

Interpretation for property buyers and investors:

• Holiday homes: expect seasonal income and variable occupancy; location and furnishings matter more than brand-new finishes.
• Investment purchases: focus on areas with tourist demand, transport links and clear rental rules; rental management is typically outsourced in Greece.
• Primary residences: buyers should research schooling, healthcare access and residency rules if relocating.

Note that 57% of foreign buyers left open the possibility of moving permanently, so a significant share of purchasers may convert second homes to primary residences over time — an important dynamic for towns that grow from seasonal to more permanent communities.

The Golden Visa is no longer the main driver — why that matters

Only 8% of transactions through RE/MAX Hellas were linked to the Golden Visa program. That confirms a broader shift:

• Demand is less driven by residency-linked large purchases and more by normal buyer motivations like holidays and straightforward investments.
• Market liquidity at mid-price levels improves as smaller transactions dominate, which can be easier to finance and sell than oversized visa-driven purchases.

For investors this means:

• Expect fewer trophy investment sales tied to immigration policy shifts.
• Prepare for a market with more owner-occupier and short-term rental stock, which can be both a risk and an opportunity depending on your strategy.

Policy changes around residency and visa programs can still affect buyer flows, but at the moment RE/MAX data suggest that those programs do not account for the majority of foreign purchases.

Regional focus: Attica and Thessaloniki — where buyers are concentrating

RE/MAX Hellas singled out Attica and Thessaloniki as hotspots for foreign buyers. Practical implications:

• Attica (Greater Athens) offers a mix of city apartments and nearby seaside options, attracting buyers who want accessibility to international travel and urban amenities.
• Thessaloniki draws buyers looking for a northern hub with a strong local economy, university population and cultural appeal.

After Israelis, the next most active nationalities in Attica were Turkish and Lebanese buyers, followed by Chinese and Ukrainian buyers. That diversity affects both demand patterns and what buyers expect from agents and local services.

Risks and red flags for buyers and investors

No market is without risks.