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Greece house prices rose 5.5% year on year in the second quarter of 2026, according to provisional Bank of Greece data published on 15 September 2026. Growth has slowed from 9.1% in 2024 and 8.3% in 2025. This page tracks the official apartment price index by year, area and building age, with mortgage rates, supply and foreign investment. We update it every quarter.
Last verified: 20 October 2026Greek apartment prices rose 5.5% year on year in the second quarter of 2026, on provisional data in the Bank of Greece release of 15 September 2026. That is below every annual average on this index since 2020 (4.5%), and down from 6.6% in Q1 2026 and 8.8% in Q3 2025.
The slowdown is broad. Every area tracked by the Bank of Greece (the central bank) grew more slowly in Q2 2026 than in its 2025 average. Thessaloniki slowed the most, from 9.7% in 2025 to 4.7%.
| Quarter | Greece (all flats) | Athens | Thessaloniki | Other cities | Other areas |
|---|---|---|---|---|---|
| Q1 2025 | 7.5% | 5.8% | 10.6% | 8.0% | 9.7% |
| Q2 2025 | 8.1% | 6.3% | 10.0% | 10.3% | 9.1% |
| Q3 2025* | 8.8% | 7.4% | 10.2% | 10.9% | 9.2% |
| Q4 2025* | 8.7% | 6.7% | 8.3% | 11.9% | 10.3% |
| Q1 2026* | 6.6% | 5.9% | 6.9% | 6.6% | 7.9% |
| Q2 2026* | 5.5% | 5.0% | 4.7% | 5.4% | 7.1% |
Annual % change in apartment prices. *Provisional. Source: Bank of Greece, apartment price indices by age and by geographical area, data to Q2 2026.
Greek property prices fell until 2017, then rose every year from 2018. On the Bank of Greece index, apartment prices rose 13.9% in 2023, 9.1% in 2024 and 8.3% in 2025.
| Year | All flats | New (up to 5 years) | Older (over 5 years) | Index level (2007 = 100) |
|---|---|---|---|---|
| 2015 | -5.1% | -5.6% | -4.7% | 61.1 |
| 2016 | -2.4% | -3.0% | -2.0% | 59.6 |
| 2017 | -1.0% | -0.8% | -1.2% | 59.0 |
| 2018 | 1.8% | 2.0% | 1.7% | 60.1 |
| 2019 | 7.2% | 7.7% | 6.9% | 64.4 |
| 2020 | 4.5% | 4.9% | 4.2% | 67.3 |
| 2021 | 7.6% | 8.2% | 7.2% | 72.4 |
| 2022 | 11.9% | 12.5% | 11.6% | 81.1 |
| 2023 | 13.9% | 12.9% | 14.5% | 92.3 |
| 2024 | 9.1% | 10.2% | 8.4% | 100.7 |
| 2025* | 8.3% | 7.8% | 8.6% | 109.1 |
Annual average % change. *2025 provisional. Source: Bank of Greece, index of apartment prices by age.
The index stood at 114.2 in Q2 2026 (2007 = 100). That is 93.6% above its 2017 average of 59.0, our arithmetic from the Bank of Greece levels, and above the 2007 average in nominal terms. Adjusted for inflation the picture is different, and the Bank of Greece index is not inflation-adjusted.
New flats (up to five years old) rose 6.2% in Q2 2026 and older flats 5.0%. In 2025 the order was reversed: older flats rose 8.6% and new ones 7.8%. Older flats account for most of the stock, so they drive the headline figure.
Athens led the recovery from 2019 to 2022, but since 2024 prices outside the capital have risen faster. In Q2 2026, areas outside the main cities rose 7.1% against 5.0% in Athens, according to the Bank of Greece.
| Year | Athens | Thessaloniki | Other cities | Other areas |
|---|---|---|---|---|
| 2015 | -5.3% | -5.4% | -4.9% | -4.6% |
| 2016 | -1.8% | -3.5% | -2.3% | -3.0% |
| 2017 | -1.0% | -1.4% | -1.1% | -0.7% |
| 2018 | 2.8% | 1.1% | 0.9% | 1.1% |
| 2019 | 10.6% | 6.9% | 3.7% | 4.5% |
| 2020 | 7.8% | 5.0% | 0.2% | 1.9% |
| 2021 | 9.7% | 7.5% | 5.8% | 4.9% |
| 2022 | 13.9% | 12.7% | 11.0% | 8.2% |
| 2023 | 13.9% | 16.6% | 15.0% | 11.6% |
| 2024 | 8.6% | 11.7% | 7.6% | 10.9% |
| 2025* | 6.6% | 9.7% | 10.3% | 9.6% |
| Q2 2026* | 5.0% | 4.7% | 5.4% | 7.1% |
Annual average % change in apartment prices; Q2 2026 is year on year. *Provisional. Source: Bank of Greece, index of apartment prices by geographical area.
From the 2017 average to Q2 2026, index levels rose 110.5% in Athens, 105.3% in Thessaloniki, 75.6% in other cities and 76.0% in other areas (our arithmetic from the Bank of Greece index levels). For local detail, see our Athens property prices page, the Athens Riviera prices tracker and the area guides.
The Bank of Greece index measures valuations, not asking prices or final sale prices. Portal figures from Spitogatos and xe.gr measure what sellers ask. The two answer different questions and should not be mixed.
As an example of levels, xe.gr data for Q3 2026 put the average asking price for homes up to 80 m² in Athens at €3,087 per m², up 10.2% in a year. That rise is about twice the Bank of Greece’s 5.0% for Athens in Q2 2026. Part of the gap is method, and part is timing.
Spitogatos asking prices for all homes rose 6.1% year on year in Q2 2026 across Greece, down from 9.7% a year earlier, and asking rents rose 1.3% (Spitogatos, 4 August 2026). These are asking prices, not the Bank of Greece valuation index, which rose 5.5% in the same quarter.
| Area | Asking sale price, annual change | Asking rent, annual change |
|---|---|---|
| Greece | +6.1% | +1.3% |
| Attica | +5.3% | +4.5% |
| Thessaloniki | +7.7% | +6.6% |
The highest average asking prices were in the southern suburbs of Athens (€4,231 per m²), the Cyclades (€4,063), the northern suburbs of Athens (€3,519), Lefkada (€3,302) and Chania (€3,102). The lowest were in Kastoria (€585), Florina (€673) and Kozani (€682). Source: Spitogatos, all homes, Q2 2026.
Greek prices are rising faster than the EU average but far more slowly than Portugal or Spain. Greece’s 5.5% in Q2 2026 compares with 4.7% for the EU and 4.0% for the euro area in Eurostat data published on 1 October 2026.
| Market | Annual change, Q2 2026 | Source |
|---|---|---|
| Portugal | 16.5% | Eurostat |
| Spain | 12.1% | Eurostat |
| Cyprus | 7.9% | Eurostat |
| Greece (apartments) | 5.5% | Bank of Greece |
| EU | 4.7% | Eurostat |
| Euro area | 4.0% | Eurostat |
| Italy | 4.0% | Eurostat |
The Greek figure uses a different method from the others, so the comparison is indicative. Our Greece vs Europe analysis has the full table and what it means for Golden Visa and second-home buyers.
Mortgage rates are easing slowly, household borrowing is flat and building permits are rising. The average rate on new floating-rate housing loans fell 14 basis points to 3.39% in August 2026, the Bank of Greece reported on 1 October 2026.
| Indicator | Latest | Source |
|---|---|---|
| New floating-rate mortgage rate | 3.39% (August 2026), from 3.53% in July | Bank of Greece |
| Rate on outstanding mortgages over 5 years | 3.74% (August 2026) | Bank of Greece |
| Credit to households, annual growth | 2.4% (August 2026) | Bank of Greece |
| Building permits | 3,118 in June 2026, up 21.5% year on year | ELSTAT |
| Building permits, 12 months to June 2026 | 31,707, up 10.1% | ELSTAT |
Sources: Bank of Greece interest rates, August 2026; Bank of Greece credit and deposits, August 2026; ELSTAT building activity statistics (June 2026 data, released 28 September 2026).
Permits issued in 2026 will take time to become finished homes. For buyers who borrow, our mortgage questions for non-resident buyers and August rate report cover the details. The round-up of credit, rates and permits sets the data side by side.
Non-residents invested a net €515.8 million in Greek real estate in Q2 2026, 11.3% less than a year earlier, according to Bank of Greece direct investment data. The first half of 2026 was still 9.5% above the first half of 2025, at €1,027.4 million.
| Period | Net investment by non-residents (€ million) |
|---|---|
| 2024, full year | 2,750.3 |
| 2025, full year | 2,055.7 |
| Q1 2026 | 511.6 |
| Q2 2026 | 515.8 |
| First half 2026 | 1,027.4 |
Source: Bank of Greece; first-half total is our arithmetic. The series records flows, not reasons. Two policy changes frame it: the higher Golden Visa thresholds under Law 5100/2024 (€800,000 in Attica, Thessaloniki, Mykonos, Santorini and islands of more than 3,100 residents; €400,000 elsewhere; €250,000 for conversions and listed buildings), and a draft bill that would raise transfer tax for buyers who are not EU or EEA tax residents from 1 July 2027. That bill is in consultation to 1 November 2026 and is not law; see our transfer tax report. More detail is in our Q2 2026 foreign investment analysis.
The Bank of Greece does not describe the market as a bubble, but on 8 October 2026 it named residential property prices among the areas showing emerging risks. In the same assessment it rated cyclical risks as low and kept the countercyclical capital buffer for banks at 0.5% for Q4 2026.
Its main credit indicator, the gap between credit to GDP and its long-term trend, stood at -17.5 percentage points in Q1 2026. The Bank concludes there is no excessive credit growth. In other words, prices have risen without a lending boom behind them. The release announces no new limits on mortgage size or repayments. Our news brief covers the assessment.
Prices are still rising in Greece, but more slowly than in 2022 to 2025. That is our reading of the data, not a forecast.
Buyers should confirm tax and legal points with a Greek lawyer or accountant. Our step-by-step guide on how to buy property in Greece as a foreigner covers the process.
We update this page every quarter, when the Bank of Greece publishes a new index, and add other releases as they come out.
| Release | Latest on this page | Next expected |
|---|---|---|
| Bank of Greece apartment price index | Q2 2026 (15 September 2026) | Q3 2026, late November 2026 |
| Bank of Greece mortgage rates | August 2026 (1 October 2026) | September 2026 data, early November 2026 |
| Eurostat house price index | Q2 2026 (1 October 2026) | Q3 2026, early January 2027 |
| Bank of Greece foreign investment in real estate | Q2 2026 | Q3 2026, early 2027 |
| xe.gr asking prices | Q3 2026 | Q4 2026, January 2027 |
Expected dates are based on each publisher’s usual timetable and may move. Figures marked provisional are revised in later releases, and we update the tables when they change. More data pages are listed on our data hub.
Yes, but more slowly. Bank of Greece data show apartment prices up 5.5% year on year in Q2 2026, on provisional figures. Growth was 9.1% in 2024 and 8.3% in 2025. All four areas the Bank tracks, from Athens to rural Greece, slowed in 2026, and the next index, for Q3 2026, is expected in late November 2026.
The Bank of Greece apartment price index rose from an average of 59.0 in 2017 to 114.2 in Q2 2026 (2007 = 100), a 93.6% increase on our arithmetic. Athens rose 110.5% over the same period. The index is not adjusted for inflation, so the rise in real terms is smaller.
In nominal terms, yes. The Bank of Greece index stood at 114.2 in Q2 2026, against 100 for the 2007 average. It had fallen to 59.0 in 2017 after the debt crisis. In real terms, after inflation, prices are lower than the nominal index suggests. See how Greece compares with Europe.
The Bank of Greece does not call it a bubble. In October 2026 it rated cyclical risks as low and found no excessive credit growth, but it named residential property prices among areas showing emerging risks. Prices have risen mainly without a lending boom: household credit grew only 2.4% a year in August 2026.
They measure different things. The Bank of Greece index is built from bank valuations of homes, while Spitogatos and xe.gr report what sellers ask. Asking prices can run ahead of deals, and their mix of listings changes. Spitogatos asking prices rose 6.1% in Greece in Q2 2026, against 5.5% on the Bank of Greece index.
Outside the main cities. The Bank of Greece shows apartment prices in other areas of Greece up 7.1% year on year in Q2 2026, ahead of other cities at 5.4%, Athens at 5.0% and Thessaloniki at 4.7%. In 2025, other cities led at 10.3%.
No official forecast exists, and we do not make one. The data show slowing growth, rising building permits and mortgage rates edging lower. Policy changes, such as the draft higher transfer tax for non-EU buyers from 1 July 2027, could affect demand but are not yet law.