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.

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.

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 (QGRN628BIS) from Q1 1997 to Q4 2024 about Greece, residential, HPI, housing, 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.

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.

Greece - House price index was 37.10% in December of 2023, 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 June of 2025. Historically, Greece - House price index reached a record high of 37.30% in December of 2003 and a record low of -27.10% in December of 2014.

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]

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.

House price index in Greece, March, 2025 The most recent value is 112.59 index points as of Q1 2025, an increase compared to the previous value of 109.59 index points. Historically, the average for Greece from Q1 1997 to Q1 2025 is 78.9 index points. The minimum of 40.16 index points was recorded in Q1 1997, while the maximum of 112.59 index points was reached in Q1 2025. | TheGlobalEconomy.com

The house price to income ratio in Greece in the first quarter of 2024 increased since 2019 when it reached its lowest value. The ratio 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. The index score in the first quarter of 2024 amounted to 116.5, which means that house price growth had outpaced income growth by 16.5 percent since 2015. This was lower than the average house price to income ration in the Euro area 16.

Source Code: Q:GR:N:628

Coverage includes all types of new and existing flats in the whole country.

For more information, please see https://www.bis.org/statistics/pp_detailed.htm.

Any use of the series shall be cited as follows: "Sources: National sources, BIS Residential Property Price database, http://www.bis.org/statistics/pp.htm."

Copyright, 2016, Bank for International Settlements (BIS). Terms and conditions of use are available at http://www.bis.org/terms_conditions.htm#Copyright_and_Permissions.

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

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.

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 - Housing cost overburden rate: Tenant, rent at reduced price or free was 37.60% 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 reduced price or free - last updated from the EUROSTAT on July of 2025. Historically, Greece - Housing cost overburden rate: Tenant, rent at reduced price or free reached a record high of 42.50% in December of 2022 and a record low of 3.60% in December of 2009.

Greece GR: Rent Price Index: sa data was reported at 102.923 2015=100 in 2024. This records an increase from the previous number of 97.929 2015=100 for 2023. Greece GR: Rent Price Index: sa data is updated yearly, averaging 92.737 2015=100 from Dec 1989 (Median) to 2024, with 36 observations. The data reached an all-time high of 124.163 2015=100 in 2011 and a record low of 20.651 2015=100 in 1989. Greece GR: Rent Price Index: sa data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Greece – Table GR.OECD.AHPI: House Price Index: Seasonally Adjusted: OECD Member: Annual.

Companies operating in the third-party real estate industry have had to navigate numerous economic headwinds in recent years, ranging from rising interest rates, spiralling inflation and muted economic growth. Typically, estate agents can earn income via fees and commissions charged to clients, which allows them to protect their operating profit margin from property price fluctuations. Revenue is projected to sink at a compound annual rate of 0.6% over the five years through 2025, including an estimated rise of 1.2% in 2025 to €207.6billion, 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 in 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, being the cheaper alternative for cash-strapped buyers. However, even lessors felt the pinch of rising mortgage rates, forcing them to hoist rent to cover costs and pricing out potential buyers. This led to a slowdown in rental markets in 2023, weighing on revenue growth. However, this have 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, which has been heavily invested in, will force estate agents to adapt, shaking up the traditional real estate industry. 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.

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