Valor Real Estate

Office space in Greece; demand remains strong!

Demand for office space in Greece remains strong, pushing companies toward modern, upgraded premises and sustaining investor interest. According to resend ReDataset data, the most attractive areas for office purchases are those offering good accessibility, modern infrastructure and strong business activity, both in Attica and the regions.

In Attica, the highest asking prices are recorded in the southern suburbs, reaching up to €5,000 per square meter. In the northern suburbs, prices climb to around €3,500/sqm, highlighting the concentration of demand in specific business hubs. The municipality of Vari–Voula–Vouliagmeni-Glyfada tops the rankings, with an average sale price of €4,875/sqm, driven by demand for high-quality offices in a coastal setting and limited new supply. In the northern suburbs, Kifisia stands out with an average price of €3,365/sqm, while strong demand is also seen in Filothei–Psychiko and Marousi, where prices range between €3,000 and €3,200/sqm.

Golden Visa: Permit Numbers Exceed All Expectations!

The total number of individual foreign investors using Greece’s Golden Visa program is expected to reach nearly 40,000 between mid-2014 and the end of 2025, excluding family members.

According to the Ministry of Migration Policy, by the end of 2025 the number of newly issued permanent investor permits rose by 60.3% year-on-year to 20,732, while active permits currently stand at 27,786. At the same time, 11,553 renewals remain pending—9,958 for new permits and 1,595 for renewals—bringing the estimated final total to 39,958 permits.

Who Leads Golden Visa Holders in Greece

Investors from China remain the top holders of the "golden visa," with a 48% share and 9,507 permits, although their percentage has declined compared to previous years.
Turkey shows a significant increase with a +158% rise, reaching a 15.5% share and 3,072 permits. Finally, an 85% increase is also noted for Israel, with 594 permits and a 3% share, ranking sixth on the related list.

The Greek commercial real estate market enters 2026 in a phase of optimism, following a year of historically high activity.

According to Cushman & Wakefield Proprius, 2025 marked a milestone for the Greek real estate sector, recording a historic transaction volume that increased by 47% compared to 2024, continuing the upward trend that began in 2020.

Specifically, total investments in commercial properties reached €2.9 billion last year, compared to €1.97 billion in 2024 (€2.02 billion in 2023, €1.67 billion in 2022, €1.16 billion in 2021, and €1.01 billion in 2020).

Golden Visa fuels surge in Greece’s Property Market amid rising demand

In the first half of the year 2025, the Greek real estate market attracted a total of €938.3 million. Applications for residence permits through the Golden Visa program reached 5,011, compared to 4,734 during the same period last year. Foreign investments in Greek property have surged over recent years and, except for the pandemic year of 2020, have consistently exceeded €1 billion annually, peaking in 2024 at €2.75 billion.

The boom in short-term rentals, Greece’s exit from the bailout programs, and comparatively lower property prices than other countries that did not experience the same crisis over the past decade have made the Greek real estate market one of the most attractive destinations for foreign buyers. This upward trend is expected to continue in the coming years.

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Valor Real Estate
https://valorinvestments.gr

Greek Housing Loans Surge into 2025: A New Era of Growth for the Market

The upward momentum in Greece’s housing loan market has carried strongly into the first half of 2025, signaling renewed confidence in the country’s real estate sector. After years of stagnation, the banking system is playing an increasingly active role in financing home purchases, reflecting a broader economic recovery and growing demand for housing finance.
According to converging estimates from various banks, new loan disbursements in the first six months of 2025 approached €1 billion, underscoring the steady comeback of the Greek banking sector and its vital role in supporting the real economy. In 2024, new housing loans totaled €1.8 billion, marking a significant 38% increase compared to €1.3 billion in 2023. The recovery began gradually in 2020, with annual disbursements rising to €600 million, and has since accelerated.
The Greek housing loan market is clearly on an upward trajectory. This revival not only highlights the resilience of the banking sector, but also signals renewed vitality in Greece’s real estate market, offering hope for buyers and investors alike as demand for housing finance continues to climb!

Greece’s Housing Market Decade: Growth, Shifts, and the Road Ahead

A recent comprehensive study by Piraeus Bank sheds light on how Greece’s housing market evolved between 2011 and 2021. The research reveals nuanced shifts in the number and types of homes, from primary residences to vacation properties and rental availability. It also highlights emerging trends such as the rise of short-term rentals and the gradual reduction in vacant properties, providing a clear picture of the country’s real estate dynamics over the past decade.

Specifically, according to the relevant study by Piraeus Bank on developments in the housing market during the decade 2011–2021:
• In 2021, the number of primary residences had increased to 4.3 million compared to 4.1 million in 2011, leaving a stock of 2,278 thousand properties available for other uses in 2021, versus 2,250 thousand in 2011. The number of secondary residences reached 627 thousand, compared to 622 thousand in 2011.
• The number of vacation homes stood at 857 thousand, up from 730 thousand in 2011.
• The number of homes for sale or rent decreased to 466 thousand, down from 543 thousand in 2011.
• The number of properties used for short-term rental has reached 208 thousand (2024), absorbing part of the available stock.
• Finally, the number of vacant and unused homes dropped to 327 thousand, compared to 355 thousand in 2011.
The Piraeus Bank study paints a detailed picture of Greece’s housing market over a transformative decade. While the total number of primary and vacation homes increased, the availability of housing for sale, rent, and vacancy declined, signaling tighter supply conditions.
The emergence of short-term rentals has further absorbed part of the housing stock, influencing market dynamics. With new construction steadily underway, experts estimate that the current housing shortfall could be balanced within five years if trends remain steady, outlining a cautiously optimistic outlook for Greece’s real estate future.

Housing Prices in Attica continue to increase

Attica is witnessing a dramatic surge in housing sale prices, with increases soaring up to an astonishing 93.3% from the second quarter of 2019 through the same period this year, according to the SPI property price index.
This price rally echoes the boom of the early 2000s—but with a crucial difference; Unlike that era, today’s market is not fueled by easy bank credit as from 2010, most buyers rely on their own cash reserves and savings to finance purchases.
The average asking price in Attica now stands at €2,600 per square meter, marking a hefty 61.5% jump from €1,610 per square meter in 2019. This explosive growth in prices, driven largely by cash buyers rather than credit, signals a robust real estate rally that is reshaping the Attica housing market landscape!

Record High for Golden Visa Applications in 2024

In 2024, a total of 9,289 applications were submitted for residence permits through the Golden Visa investment migration program, corresponding to real estate investments valued at least €2.32 billion. This marks a new historic high, following another record year in 2023, which saw 8,477 applications.

There seems to be a strong continued investment interest, especially in Attica. Moreover, as Spain is preparing to end its own Golden Visa program through real estate purchases, This Spain's audience will likely be redirected towards Greece, which offers a similar lifestyle and more affordable properties.