The prices of Greek properties have been rallying over the past seven years and this rise has accelerated since 2022, but that may be ending, an analysis by credit ratings agency Moody’s shows.
Property prices declined steadily from the onset of the financial crisis in 2010, reaching rock bottom in 2017-18. A comparative chart showing several countries, plus the average European Union prices, taking 2015 as its baseline, shows that average Greek property prices in 2025 were 80% higher than in 2015. In 2023 alone, the average price per square meter rose 15%.
Greece was outpaced in price rise by Spain, which had earlier suffered a disastrous property crash, and Portugal: In the latter, prices rose 180% between 2015 and 2025.
But is this pace sustainable? Moody’s believes it’s not, and that is due to demographics: Greece’s population is shrinking. Another factor is that foreign investment, a major facto driving property prices higher recently, may also be waning, as investments through the “Golden Visa” program declined significantly in 2025.
The price spike in the 2020s has not been followed, at least at the same pace, by a spike in rents, although whatever increases there have been have made it difficult for local residents, especially the young, to rent.
