Nikos Roussanoglou

About 12% of the total housing stock in Greece, or some 800,000 properties across the country, remain empty and a number of them could under certain conditions be activated in the battle against the housing crisis.

Seaview properties help the Greek luxury residential market compete as equal with developed markets such as Spain and Switzerland, thanks to key areas such as the Athenian Riviera, the Cyclades and Ionian islands.

Additional levies, which can reach up to three times the current levels, would be imposed on property owners by the Local Government Code, put up for consultation until June 4, in an Interior Ministry bill.

The Greek holiday home market grew 10.8% so far this year compared to the same time in 2025, driven by high demand from abroad, especially for new constructions.

Greece is evolving into a leader among income property markets of Southern Europe, recording the highest growth rate in 2025. According to a study by Savills, which operates in Greece through Kentriki – Savills Greece, “Greece was the champion in Europe based on the growth rate, as the value of transactions increased by 58% on an annual basis.”

Greece is the 12th most expensive tourism destination in Europe for short-term rental accommodations, out of 42 countries, based on data published on Friday by AirDNA, which calculates the daily cost of accommodations on an annualized basis.

Demand for luxury holiday homes from foreign and Greek buyers is at a record high in 2026, per the annual second-home report Engel & Volkers Greece published on Friday.

Greece is preparing to launch a €480 million home renovation program aimed at returning thousands of vacant and deteriorated properties to the housing market amid a broader housing shortage.

The population may be shrinking, but demand for housing – especially for smaller homes – is increasing. The Bank of Greece attributes this paradox mainly to the increase in single-person households, mainly students, singles, digital nomads and the divorced. Now, several developers are building smaller homes.

The growth of home prices has slowed significantly since the start of the year, both nationwide and in the two major urban centers of Greater Athens and Thessaloniki, based on the data the Bank of Greece released on Tuesday.