Key information about House Prices Growth

• Greece house prices grew 7.3% YoY in Sep 2024, following an increase of 9.3% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Mar 2000 to Sep 2024, with an average growth rate of 3.5%.
• House price data reached an all-time high of 15.9% in Mar 2023 and a record low of -12.8% in Dec 2012.

After four years of growth, the inflation-adjusted house price change in Greece turned negative in 2022. As of the fourth quarter of the year, the inflation-adjusted house price declined by ***** percent, while the nominal price rose by *** percent.

Housing Index in Greece increased to 105.10 points in the first quarter of 2025 from 102.30 points in the fourth quarter of 2024. This dataset provides the latest reported value for - Greece House Price Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Graph and download economic data for Real Residential Property Prices for Greece (QGRR628BIS) from Q1 1997 to Q1 2025 about Greece, residential, HPI, housing, real, price index, indexes, and price.

Residential Property Prices in Greece increased 6.81 percent in March of 2025 over the same month in the previous year. This dataset includes a chart with historical data for Greece Residential Property Prices.

Portugal, Canada, and the United States were the countries with the highest house price to income ratio in 2024. In all three countries, the index exceeded 130 index points, while the average for all OECD countries stood at 116.2 index points. The index measures the development of housing affordability and is calculated by dividing nominal house price by nominal disposable income per head, with 2015 set as a base year when the index amounted to 100. An index value of 120, for example, would mean that house price growth has outpaced income growth by 20 percent since 2015. How have house prices worldwide changed since the COVID-19 pandemic? House prices started to rise gradually after the global financial crisis (2007–2008), but this trend accelerated with the pandemic. The countries with advanced economies, which usually have mature housing markets, experienced stronger growth than countries with emerging economies. Real house price growth (accounting for inflation) peaked in 2022 and has since lost some of the gain. Although, many countries experienced a decline in house prices, the global house price index shows that property prices in 2023 were still substantially higher than before COVID-19. Renting vs. buying In the past, house prices have grown faster than rents. However, the home affordability has been declining notably, with a direct impact on rental prices. As people struggle to buy a property of their own, they often turn to rental accommodation. This has resulted in a growing demand for rental apartments and soaring rental prices.

The Direct Real Estate Activities industry have come up against numerous headwinds in recent years, ranging from the COVID-19 outbreak in 2020 to the high base rate environment in the years since, which has inflated borrowing costs for potential buyers. This is a sharp contrast to the ultra-low interest environment seen over the decade following the 2008 financial crisis. Still, revenue is forecast to edge upwards at a compound annual rate of 0.6% over the five years through 2025 to €622.9 billion, including an anticipated rise of 0.8% in 2025. Despite weak revenue growth, profitability remains strong, with the average industry profit margin standing at an estimated 18.9% in 2025. Central banks across Europe adopted aggressive monetary policy in the two years through 2023 in an effort to curb spiralling inflation. This ratcheted up borrowing costs and hit the real estate sector. In the residential property market, mortgage rates picked up and hit housing transaction levels. However, the level of mortgage rate hikes has varied across Europe, with the UK experiencing the largest rise, meaning the dent to UK real estate demand was more pronounced. Commercial real estate has also struggled due to inflationary pressures, supply chain disruptions and rising rates. Alongside this, the market’s stock of office space isn’t able to satisfy business demand, with companies placing a greater emphasis on high-quality space and environmental impact. Properties in many areas haven't been suitable due to their lack of green credentials. Nevertheless, things are looking up, as interest rates have been falling across Europe over the two years through 2025, reducing borrowing costs and boosting the number of property transactions, which is aiding revenue growth for estate agents. Revenue is slated to grow at a compound annual rate of 4.5% over the five years through 2030 to €777.6 billion. Economic conditions are set to improve in the short term, which will boost consumer and business confidence, ramping up the number of property transactions in both the residential and commercial real estate markets. However, estate agents may look to adjust their offerings to align with the data centre boom to soak up the demand from this market, while also adhering to sustainability commitments.

Greece ASE: Market Capitalization: FTSE Athex Real Estate data was reported at 762,366.873 EUR th in Dec 2023. This records an increase from the previous number of 739,962.055 EUR th for Nov 2023. Greece ASE: Market Capitalization: FTSE Athex Real Estate data is updated monthly, averaging 464,600.160 EUR th from Dec 2009 (Median) to Dec 2023, with 168 observations. The data reached an all-time high of 797,382.957 EUR th in Jul 2021 and a record low of 15,485.090 EUR th in Apr 2012. Greece ASE: Market Capitalization: FTSE Athex Real Estate data remains active status in CEIC and is reported by Athens Stock Exchange. The data is categorized under Global Database’s Greece – Table GR.Z002: Athens Stock Exchange: Market Capitalization.

Real residential property prices Y-on-Y, percent change in Greece, March, 2025 The most recent value is 4.13 percent as of Q1 2025, a decline compared to the previous value of 4.46 percent. Historically, the average for Greece from Q1 1998 to Q1 2025 is 1.56 percent. The minimum of -13.75 percent was recorded in Q4 2012, while the maximum of 12.02 percent was reached in Q2 2023. | TheGlobalEconomy.com

Greece - Housing cost overburden rate: Tenant, rent at market price was 37.40% in December of 2024, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Greece - Housing cost overburden rate: Tenant, rent at market price - last updated from the EUROSTAT on July of 2025. Historically, Greece - Housing cost overburden rate: Tenant, rent at market price reached a record high of 87.50% in December of 2014 and a record low of 36.00% in December of 2010.

Key information about Greece Gold Production

• Greece Real Residential Property Price Index was reported at 90.775 2010=100 in Sep 2024.
• This records an increase from the previous number of 90.119 2010=100 for Jun 2024.
• Greece Real Residential Property Price Index data is updated quarterly, averaging 84.481 2010=100 from Mar 2000 to Sep 2024, with 99 observations.
• The data reached an all-time high of 119.531 2010=100 in Sep 2007 and a record low of 62.127 2010=100 in Jun 2017.
• Greece Real Residential Property Price Index data remains active status in CEIC and is reported by Bank for International Settlements.
• The data is categorized under World Trend Plus’s Association: Property Sector – Table RK.BIS.RPPI: Selected Real Residential Property Price Index: 2010=100: Quarterly. [COVID-19-IMPACT]

Companies operating in the third-party real estate industry have had to navigate numerous economic headwinds in recent years, notably rising interest rates, spiralling inflation and muted economic growth. Revenue is projected to sink at a compound annual rate of 0.6% over the five years through 2025, including an estimated jump of 1.2% in 2025 to €207.6 billion, while the average industry profit margin is forecast to reach 35.1%. Amid spiralling inflation, central banks across Europe ratcheted up interest rates, resulting in borrowing costs skyrocketing over the two years through 2023. In residential markets, elevated mortgage rates combined with tightening credit conditions eventually ate into demand, inciting a drop in house prices. Rental markets performed well when house prices were elevated (2021-2023), being the cheaper alternative for cash-strapped buyers. However, even lessors felt the pinch of rising mortgage rates, forcing them to hoist rent prices to cover costs and pricing out potential buyers. This led to a slowdown in rental markets in 2023, weighing on revenue growth. However, this has started to turn around in 2025 as interest rates have been falling across Europe in the two years through 2025, reducing borrowing costs for buyers and boosting property transactions. This has helped revenue to rebound slightly in 2025 as estate agents earn commission from property transactions. Revenue is forecast to swell at a compound annual rate of 3.7% over the five years through 2030 to €249.5 billion. Housing prices are recovering in 2025 as fixed-rate mortgages begin to drop and economic uncertainty subsides, aiding revenue growth in the short term. Over the coming years, PropTech—technology-driven innovations designed to improve and streamline the real estate industry—will force estate agents to adapt, shaking up the traditional real estate sector. A notable application of PropTech is the use of AI and data analytics to predict a home’s future value and speed up the process of retrofitting properties to become more sustainable.

Greece - House price index was 38.80% in December of 2024, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Greece - House price index - last updated from the EUROSTAT on July of 2025. Historically, Greece - House price index reached a record high of 38.80% in December of 2024 and a record low of -27.10% in December of 2014.

The house price to rent ratio in Greece has increased quarter-on-quarter since 2017, reaching the highest index value on record in 2024. In the second quarter of the year, the index value amounted to *****. The house price to rent ratio is calculated by dividing nominal house prices by rent prices, with 2015 chosen as a base year when the index stood at 100. An index value of *** means that house prices have increased by ** percent more than rents since 2015. Greece's index was higher than the OECD average house price to rent ratio.

Comprehensive dataset of 5 Housing cooperatives in Greece as of August, 2025. Includes verified contact information (email, phone), geocoded addresses, customer ratings, reviews, business categories, and operational details. Perfect for market research, lead generation, competitive analysis, and business intelligence. Download a complimentary sample to evaluate data quality and completeness.

In the first quarter of 2025, the average residential sale price in Greece ranged between *** euros per square meter and ***** euros per square meter depending on the region. The southern part of Athens had the highest average residential sale price in the country, at ***** euros per square meter, followed by the Cyclades at ***** euros per square meter.

Portugal, Italy, Ireland, Greece, and Spain were widely considered the Eurozone's weakest economies during the Great Recession and subsequent Eurozone debt crisis. These countries were grouped together due to the similarities in their economic crises, with much of them driven by house price bubbles which had inflated over the early 2000s, before bursting in 2007 due to the Global Financial Crisis. Entry into the Euro currency by 2002 had meant that banks could lend to house buyers in these countries at greatly reduced rates of interest.

This reduction in the cost of financing contributed to creating housing bubbles, which were further boosted by pro-cyclical housing policies among many of the countries' governments. In spite of these economies experiencing similar economic problems during the crisis, Italy and Portugal did not experience housing bubbles in the same way in which Greece, Ireland, and Spain did. In the latter countries, their real housing prices (which are adjusted for inflation) peaked in 2007, before quickly declining during the recession. In particular, house prices in Ireland dropped by over 40 percent from their peak in 2007 to 2011.

The size of the Greece Property And Casualty Insurance Market was valued at USD 7.60 Million in 2023 and is projected to reach USD 9.78 Million by 2032, with an expected CAGR of 3.67% during the forecast period. The Greece property and casualty insurance industry plays a crucial role in the country's financial landscape, providing coverage against a range of risks associated with property damage and liability. This sector encompasses various types of insurance products, including homeowners insurance, automobile insurance, commercial property insurance, and liability coverage. With a growing economy and increased focus on risk management, the industry has evolved to meet the diverse needs of both individuals and businesses. In recent years, the demand for property and casualty insurance in Greece has been driven by factors such as rising property values, increased vehicle ownership, and a heightened awareness of the importance of financial protection. The industry is characterized by a mix of local and international insurers, which fosters competition and innovation in product offerings. Regulatory frameworks established by the Bank of Greece and the European Insurance and Occupational Pensions Authority (EIOPA) ensure that insurers maintain adequate reserves and operate transparently, enhancing consumer confidence. Recent developments include: December 2022: European Reliance and Allianz Greece announced the formation of an Executive Committee (ExCom) to oversee their joint expansion journey and facilitate the effective integration of the two companies. The composition of the ExCom members has been carefully chosen with the primary goal of ensuring a seamless integration process.., February 2022: The European Commission unconditionally cleared the acquisition of Ethniki Hellenic General Insurance Company S.A. of Greece by CVC Capital Partners SICAV FIS S.A. of Luxemburg. Ethniki offers life and non-life insurance services, insurance distribution, and reinsurance services in Cyprus, Greece, and Romania. CVC and its subsidiaries manage investment funds and platforms and control many companies, including the Hellenic Healthcare Group, which offers private hospital services in Cyprus and Greece.. Key drivers for this market are: Digitalization is Driving the Market. Potential restraints include: Economic Disparities are Restraining the Market. Notable trends are: Technological Advancements are Driving the Market.

A table showing average property prices per square metre (€) across various regions and cities in Greece.

Building contractors and developers depend on various socio-economic factors, including property values, underlying sentiment in the housing market, the degree of optimism among downstream businesses and credit conditions. All of these drivers typically track in line with economic sentiment, with recent economic shocks spurring a difficult period for building contractors and developers. Nonetheless, the enduring need for building services, particularly to tackle housing shortages across the continent, ensures a strong foundation of work. Revenue is forecast to grow at a compound annual rate of 2.3% to reach €1.3 trillion over the five years through 2025. Operational and supply chain disruption caused by the pandemic reversed the fortunes of building contractors and developers in 2020, as on-site activity tumbled and downstream clients either cancelled, froze or scaled back investment plans. Aided by the release of pent-up demand and supportive government policy, building construction output rebounded in 2021. Excess demand for key raw materials led to extended lead times during this period, while input costs recorded a further surge as a result of the effects of rapidly climbing energy prices following Russia’s invasion of Ukraine. Soaring construction costs and the impact of interest rate hikes on both the housing market and investor sentiment led to a renewed slowdown in building construction activity across the continent. However, falling inflation and the start of an interest rate cutting cycle have spurred signs of a recovery in new work volumes, supporting anticipated revenue growth of 2.3% in 2025. Revenue is forecast to increase at a compound annual rate of 6.7% to €1.7 trillion over the five years through 2030. Activity is set to remain sluggish in the medium term, as weak economic growth and uncertainty surrounding the impact of the volatile global tariff environment on inflation and borrowing costs continue to weigh on investor sentiment. Contractors and developers will increasingly rely on public sector support, including measures to boost the supply of new housing, as countries seek to tackle severe housing shortages. Meanwhile, the introduction of more stringent sustainability requirements will drive demand for energy retrofits.