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 seven percent, while the nominal price rose by 0.1 percent.

Graph and download economic data for Residential Property Prices for Greece (QGRN368BIS) from Q1 1998 to Q3 2024 about Greece, residential, housing, and price.

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]

In the second quarter of 2024, the average residential sale price in Greece ranged between 566 euros per square meter and 3,750 euros per square meter. The southern part of Athens had the highest average residential sale price in the country, at 3,750 euros per square meter, followed by the Samos prefecture at 3,542 euros per square meter. In contrast, the region of Arcadia had the lowest selling price per square meter at 566 euros.

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.

The Property and Casualty Insurance Market in Greece is Segmented by Type (Home, Motor, and Other Types) and by Distribution Channel (Direct, Agency, Bank, and Other Distribution Channels). The Report Offers Market Size and Forecasts for the Greece Property and Casualty Insurance Market in Value (USD) for all the Above Segments.

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 161.1. 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 130 means that house prices have increased by 30 percent more than rents since 2015. Greece's index was higher than the OECD average house price to rent ratio.

The size of the Greece Property and Casualty Insurance Industry market was valued at USD 2.40 Million in 2023 and is projected to reach USD 3.21 Million by 2032, with an expected CAGR of 4.23% during the forecast period. Property and casualty insurance (P&C insurance) is a type of coverage that protects individuals and businesses against financial loss resulting from damage to property and liability for injuries or damages to others. This insurance sector primarily encompasses two key components: property insurance and casualty insurance. Property insurance provides financial reimbursement to policyholders for loss or damage to tangible assets, such as homes, vehicles, and commercial properties, due to perils like fire, theft, vandalism, and natural disasters. It helps individuals and businesses recover from unexpected events that could lead to significant financial hardship. On the other hand, casualty insurance primarily focuses on liability coverage, protecting policyholders from legal obligations arising from injuries to other individuals or damage to their property. This includes various types of coverage, such as general liability, workers' compensation, and automobile liability insurance. Recent developments include: December 2022: Chubb announced it was to launch a new technology services center in Thessaloniki, Greece, in early 2023 to deliver innovative technologies that enhance the customer experience, increase efficiency, and accelerate the company's digital transformation., In June 2023, The Ardonagh Group (Ardonagh) expanded into the Greek market through the acquisition of a controlling interest in SRS Group of Companies (SRS), headquartered in Athens, Greece. SRS operates as an independent wholesale reinsurance broker and an MGA platform within its business portfolio.. Key drivers for this market are: Rising Awareness of Risk Management. Potential restraints include: Intense Competition and Regulatory Complexities. Notable trends are: Rising Internet Penetration and Technological Advancements are Driving the Market.

In 2022, the turnover of the real estate industry in Greece increased by 749.8 million euros (+36.44 percent) since 2021. Therefore, the turnover in Greece reached a peak in 2022 with 2.8 billion euros. For the purpose of Eurstat Dataset NACE Rev.2 Section K turnover comprises the totals invoiced by the observation unit during the reference period, which corresponds to market sales of goods or services supplied to third parties.Find more statistics on the real estate industry in Greece with key insights such as personnel costs and number of employees.

Greece Consumer Price Index (CPI): Weights: Housing: Rentals data was reported at 38.534 Per 1000 in 2025. This records an increase from the previous number of 36.282 Per 1000 for 2024. Greece Consumer Price Index (CPI): Weights: Housing: Rentals data is updated yearly, averaging 34.134 Per 1000 from Dec 2008 (Median) to 2025, with 18 observations. The data reached an all-time high of 42.841 Per 1000 in 2021 and a record low of 31.927 Per 1000 in 2018. Greece Consumer Price Index (CPI): Weights: Housing: Rentals data remains active status in CEIC and is reported by Hellenic Statistical Authority. The data is categorized under Global Database’s Greece – Table GR.I012: Consumer Price Index: Weights.

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.

Greece Dwelling Price Index: Urban Areas: Athens data was reported at 156.100 1997=100 in Jun 2018. This records an increase from the previous number of 154.200 1997=100 for Mar 2018. Greece Dwelling Price Index: Urban Areas: Athens data is updated quarterly, averaging 208.100 1997=100 from Mar 1999 (Median) to Jun 2018, with 78 observations. The data reached an all-time high of 277.800 1997=100 in Jun 2008 and a record low of 123.800 1997=100 in Mar 1999. Greece Dwelling Price Index: Urban Areas: Athens data remains active status in CEIC and is reported by Bank of Greece. The data is categorized under Global Database’s Greece – Table GR.EB002: Dwelling Price Index: 1997=100. Data collected from the MFIs, 2006-onwards and calculations based on 'Property Ltd' up to 2005.

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.

Portugal, Canada, and the United States were the countries with the highest house price to income ratio in 2023. In all three countries, the index exceeded 130 index points, while the average for all OECD countries stood at 117.5 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 average export price for bearing housings incorporating ball or roller bearings stood at $41,573 per ton in July 2024, rising by 53% against the previous month.

Greece - Harmonised index of consumer prices (HICP): Actual rentals for housing was 110.03 points in February of 2025, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Greece - Harmonised index of consumer prices (HICP): Actual rentals for housing - last updated from the EUROSTAT on March of 2025. Historically, Greece - Harmonised index of consumer prices (HICP): Actual rentals for housing reached a record high of 124.29 points in September of 2011 and a record low of 62.68 points in January of 1996.

In 2023, bearing housing without ball bearing imports into Greece soared to 663 tons, rising by 33% against the previous year.

Graph and download economic data for Harmonized Index of Consumer Prices: Tools and Equipment for House and Garden for Greece (CP0550GRM086NEST) from Jan 1996 to Feb 2025 about tool, garden, Greece, harmonized, equipment, CPI, housing, price index, indexes, and price.

Greece GDP: PY: GVA: Real Estate Activities data was reported at 30,968.227 EUR mn in 2023. This records an increase from the previous number of 29,175.890 EUR mn for 2022. Greece GDP: PY: GVA: Real Estate Activities data is updated yearly, averaging 27,942.869 EUR mn from Dec 1996 (Median) to 2023, with 28 observations. The data reached an all-time high of 32,217.544 EUR mn in 2010 and a record low of 10,353.850 EUR mn in 1996. Greece GDP: PY: GVA: Real Estate Activities data remains active status in CEIC and is reported by Hellenic Statistical Authority. The data is categorized under Global Database’s Greece – Table GR.A025: ESA 2010: GDP: by Industry: Gross Value Added: Previous Year Price: Base 2020.