Greece’s luxury property market gains confidence among international buyers

According to the second annual Voices of Affluence 2026 survey conducted by Greece Sotheby’s International Realty, 57% of respondents expect luxury residential property prices in Greece to increase over the next 12 months, compared with 44% in 2025. Meanwhile, the proportion anticipating a decline has fallen from 20% to 14%.

The survey was conducted between 17 September and 20 October 2026, involving 249 high-net-worth and ultra-high-net-worth individuals from 28 countries. More than half of the respondents have completed a property transaction in Greece over the past five years.

53% Expect Property Prices in Greece to Rise

International buyers’ confidence in the Greek market is considerably stronger than their outlook for property markets in their respective home countries. While 53% of international respondents anticipate an increase in property prices in Greece, only 19% expect their domestic markets to improve. Furthermore, 42% believe that their home market is in a weaker position than it was a year ago.

These positive expectations are further supported by respondents’ personal financial circumstances. Some 48% report that their financial position improved over the previous 12 months, while 59% expect further improvement.

“Greece has moved from a phase of discovery to one of confidence,” says Savvas Savvaidis, President and CEO of Greece Sotheby’s International Realty, noting that respondents anticipate an increase in Greek property prices at a time when their domestic markets are showing signs of weakening.

Investment Capacity of Up to and Above €5 Million Without Bank Financing

Purchase intentions are accompanied by a clearly defined investment horizon. Some 33% of respondents plan to acquire a property in Greece within the next 12 months, while 50% intend to do so within the next two years.

A total of 56% state that they will finance their purchase entirely through their own funds, while just 5% intend to rely exclusively on mortgage financing.

Available budgets are concentrated primarily in the €1 million to €2 million range, selected by 56% of respondents. A further 33% are seeking properties valued between €2 million and €5 million, while 11% have a budget exceeding €5 million.

The acquisition of a holiday home remains the primary motivation for purchasing property, accounting for 32% of responses overall and 44% among international participants. Investment for rental income ranks second, at 20%.

Villas are the preferred property type for 37% of all respondents and 49% of international buyers.

The Ionian Islands Overtake the Cyclades

The Ionian Islands are the preferred destination for 26% of international respondents, compared with 20% for the Cyclades, 15% for the Athens Riviera and 12% for the Peloponnese. This reflects a shift in the geographical distribution of international demand, with the Ionian Islands now attracting the highest level of interest.

The change is also evident among American buyers. Whereas their interest in 2025 was concentrated primarily on the Athens Riviera and the Cyclades, their preferences have now expanded to include the Peloponnese and the Ionian Islands.

By contrast, Greek respondents continue to favour Attica. Central Athens, the northern suburbs and the Athens Riviera collectively account for 56% of their interest.

This geographical diversification of demand is broadening the foundations of Greece’s luxury residential property market, creating opportunities for new developments beyond the country’s traditional destinations.

British Buyers Show Growing Interest in Permanent Relocation

The most significant change compared with 2025 has been recorded among British respondents. Some 70% expect luxury residential property prices in Greece to increase, while 41% consider a property purchase within the next 12 months either very likely or certain, compared with 24% in the previous survey.

Furthermore, 26% state that they are considering purchasing property with a view to relocating or transferring their tax residence to Greece.

This shift comes approximately 18 months after the abolition of the UK’s non-domiciled tax regime. However, the survey does not attribute the increased interest exclusively to this development.

Across the international respondent group as a whole, approximately one in seven identifies relocation or tax residency as a primary motivation for purchasing property in Greece.

Bureaucracy Remains a Key Obstacle

Despite rising demand, Greece continues to compete with other European property markets for international investment capital. Some 63% of international respondents are considering at least one alternative country, compared with 52% in 2025.

Italy attracts the greatest interest, at 23%, followed by France at 10%. For the first time, the United Arab Emirates have also emerged as an alternative destination in respondents’ comparisons.

The complexity of administrative procedures has now emerged as the most significant obstacle to completing property transactions in Greece.

Of the 148 respondents who answered the open-ended question regarding the single most important change that would facilitate property purchases in Greece, 47% called for faster, simpler and more predictable procedures.

Their responses focused primarily on the issuance of building permits, legal certainty in property transactions and the stability of the regulatory framework.

By comparison, just 16% referred to taxation and transaction costs, while 7% called for greater stability in the rules governing the Golden Visa programme and tax residency regimes.

When asked about the existing barriers to purchasing property, respondents identified property prices and personal circumstances equally, at 27% each. The quality of available properties accounted for 25%, while taxation was cited by just 10%.

“Buyers comparing Greece with Italy, France and Spain are looking for faster procedures, a fully operational Land Registry and stable regulations,” Mr Savvaidis points out.

Domestic Property Supply

On the supply side, 60% of Greek respondents consider it likely that they will sell a property within the next 12 months.

This finding comes at a time when international demand for Greek real estate is gaining momentum. Nevertheless, the survey does not provide a corresponding forecast regarding the number or total value of property transactions expected to take place.