100% increase in property prices over the last 10 years, using Athens as an example, and how much does a new villa in Crete cost, as well as government subsidy programmes for house building.

Property prices in several Athens neighborhoods have kept climbing, though not quite as fast as before.

Ambelokipi, Marousi, P. Faliro, Peristeri, and Cholargos have all seen sales values go up noticeably.

This might mean we’re getting close to the top of the current property cycle.

Newly built apartments have gone up just over 6% since last year, and more than 15% in two years.

Older apartments show a similar pattern—about 6.5% higher year-on-year, and nearly 15% more over two years.

Across the last decade, property values have almost doubled on average.

Key Takeaways

• Property prices in Athens are still rising, but the pace is slowing.
• Both new and older apartments have seen solid price growth over two years.
• In the past ten years, apartment values have nearly doubled in several areas.

Price Growth in the Property Market

Data from Q3 2025 shows property values have shot up compared to 2016.

New apartments have basically doubled on average, while older ones are up about 94%.

Between Q3 2024 and Q3 2025, median prices jumped 6.07% for new apartments and 6.65% for old ones.

Less supply is a big reason, partly because of strong tourism and the pull of short-term rentals like Airbnb.

Most newly listed properties are newer and pricier than before.

Listings usually feature apartments in standard buildings and average spots.

But if a place has a killer view, a famous architect, or top materials, expect to pay at least 25% more than for a typical unit.

Price Levels in New Apartments

New apartments in these stats are around 111 square meters, about a year old, and usually on the second floor.

Prices shift a lot depending on the area:

Paleo Faliro saw the biggest yearly jump, just over 8%.

Cholargos had the smallest increase among these neighborhoods.

Price Levels in Older Apartments

Older apartments in the data average 113 square meters, are about 47 years old, and usually sit on the second floor.

Here’s how prices look by area:

Ampelokipoi topped the list for older apartment price increases, just over 8%.

Cholargos had the smallest rise in this group.

Factors Affecting Price Trends

• Supply Shortages: Tourism and short-term rentals keep supply tight, pushing prices higher.
• Property Age: Newer apartments almost always fetch more than older ones.
• Location: Prime or well-connected spots keep showing higher prices and mixed growth rates.
• Apartment Features: Better views, design, or materials mean a higher price tag.

Summary of Annual Growth Rates

Market Direction

Property prices have surged in recent years, especially for new apartments.

Even so, it looks like the growth rate will slow soon, signaling that the market may be reaching the top of its current cycle.

Price increases probably won’t be as sharp going forward.

Foreign investors still play a huge part here.

Greece’s stability and programs like the Golden Visa keep drawing in buyers from abroad.

Compared to other European spots or Israel, residential property in Athens still seems like a bargain for international investors.

Local investors—big and small—haven’t lost interest, even with higher borrowing costs.

They keep putting money into real estate, and the shortage of new apartments means demand stays strong.

Northern suburbs, especially around Marousi, have started to recover.

But it’ll probably take a few more quarters for that comeback to really show up.

The lack of new homes in these areas keeps prices moving up.

Price Changes Over the Last Decade

New apartments have basically doubled in value over the last ten years.

Older buildings have also gained a lot.

Key Drivers of Demand

• Short supply of new homes
• More foreign capital flowing in
• Attractive immigration-linked investment schemes
• Greater stability than other markets
• Consistent local investor interest, even with higher rates

The gap between supply and demand keeps pushing property values up.

New builds just can’t keep pace with how many people want to buy, especially in the main city and northern neighborhoods.

For a closer look at recent numbers, check out the ten-year analysis showing a 100% jump in new apartment prices.

Honestly, the market doesn’t look bubbly right now.

Short supply and steady demand make the price growth look pretty sustainable, even if it’s slowing.

Buyers and investors seem cautious but still hopeful for the next few years.

Changing Conditions in the Housing Market

The rise of hybrid work—where people work from home a couple of days a week—has really changed what buyers want.

Living close to the office just isn’t as important when you don’t commute daily.

People now look for homes that work for both living and working.

Buyers want bigger, more flexible spaces that can double as quiet work areas.

Things like good natural light, sound insulation, and fast, reliable internet are now must-haves.

These features make remote work a lot more comfortable and productive.

Suburbs and places with a better quality of life are getting more popular.

Many buyers are leaving crowded city centers for greener, quieter neighborhoods.

This is changing how developers and investors think about future projects.

This shift in what people want is changing market values and where investors put their money.

Homes that check these boxes usually attract more interest and can fetch higher prices.

Creta Times

Prices for New Sea-View Villas with Pools in Crete and Other Areas

In 2025, prices for new holiday homes with private pools and sea views in Greece are shooting up. Compared to last year, the jump is over 10%—which is honestly pretty wild.

International buyers are driving this surge, especially those who want top-notch properties. Their demand has really changed how the market looks for holiday villas across Greece.

The average price for a villa like this in 2025 sits at about €4,675 per square metre. That’s up from €4,243 in 2024, €3,675 in 2023, and €3,458 in 2022.

So, over three years, prices have climbed 35%. Folks who bought in 2022 have already seen solid returns—and the outlook still looks good.

Most villas with private pools and a sea view or direct access sell for €400,000 to €450,000. That’s actually a pretty good deal compared to other parts of Europe, where similar spots are either scarce or way pricier.

The chance to rent these villas short-term makes them even more appealing. No wonder so many foreign buyers are interested.

Regional Differences in Pricing

Prices swing a lot depending on where you look. The Ionian Islands top the charts, averaging €4,866 per square metre.

New luxury beachfront projects have made the Ionian Islands especially attractive. Western Greece, though, has seen the sharpest price hikes lately.

Developers have flocked to Western Greece with premium projects, pushing prices even higher. Northern Crete’s villa prices just keep climbing, albeit more steadily.

Southern Crete slowed down in 2023, but 2025 is a comeback year with prices heading up again. If you’re looking, southern Rethymno (with those Libyan Sea views) and the Chania area (facing the Aegean) are hot picks for international buyers.

Popular Areas for Investment

• Corfu: High demand and properties that really hold their value.
• Western Greece: Especially along the Preveza and Palairos coasts.
• Crete: Southern Rethymno and Chania, mostly for those unbeatable sea views.

Investors really seem to love these spots for their mix of scenery and well-built developments.

Price Comparison Table (€ per square metre)

People focus on properties with sea access, private pools, and modern touches. That’s what really drives the higher prices.

If you want more details about villa pricing in Crete or elsewhere, check this sea-view villa price report.

International buyers keep coming, attracted by good prices and rental potential. Developers are stepping up their game, building to higher standards to keep up with the demand.

Rethemnos News

«My House ΙΙ»: Reached 10,000 homes – 227 loans in Crete

The housing support scheme «Σπίτι μου ΙΙ» (My House II)  just hit the milestone of 10,000 homes financed. The Hellenic Development Bank runs this programme alongside commercial banks.

They’re working to make buying a home less expensive for low-income Greek citizens. So far, €1.2 billion out of a €2 billion budget has gone out the door, and it looks like they’ll use it all by the end of 2025.

Loan approvals slowed down a bit during the summer. Still, over 2,500 loans got granted, totalling €300 million.

Once the holidays wrapped up, things picked up again—approvals, contract signings, and fund disbursements are now moving faster to spend the remaining €800 million this year.

By the end of last week, the programme had approved nearly 9,870 loans worth €1.184 billion. About 4,990 loans got contractually agreed for €545 million.

Roughly 3,940 loans have already been disbursed, adding up to €429 million. Processing seems a lot faster than in the first phase of the project, when the average time from approval to contract was six months.

Now, it’s down to just 2.5 months, thanks to tweaks like making the Building Electronic Identity mandatory before approval. That’s a pretty big jump in efficiency.

Getting from loan approval to fund release used to take about seven months. They’ve cut that down to three months in this updated version of the programme.

Because of that, disbursements are now more than three times higher than they were at the same point in the earlier scheme.

Crete alone managed to secure 227 loans through the programme, showing some real regional participation. The numbers point to strong demand and smoother procedures, helping families get past home ownership barriers.

If you want more details on the programme’s progress and how it’s playing out regionally, there are dedicated reports covering housing loans and distribution. That kind of transparency is important, and it might just encourage more folks to jump in while funds are still available.

Hania News

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