The real estate market is showing signs of fatigue, as the intense activity of the first months of 2026 began to subside in April and May. Despite the support programs, the resurgence of interest from foreign investors, high prices and limited supply now seem to be putting a brakes on the market’s momentum.
The latest Hellenic Property Authority data, for April and May, reflects the first clear sign of a slowdown. Revenues from the transfer tax show a yearly decline, even though the market continues to move at high levels.
The development is particularly important, as it comes after the strong first quarter, when the market had been significantly strengthened by the activation of the “My Home II” program and the increased demand for housing. The picture, therefore, does not point to a reversal of the trend, but rather to fatigue after a strong upward start to the year.
Despite the recent slowdown, the year’s first five month were positive: Revenue from the property transfer tax, which includes transfers of buildings, plots of land and agricultural plots, amounted to €246.81 million compared to €235.91 million in the same period of 2025, recording an increase of 4.6%. The largest contribution comes from the transfers of buildings. The transfer tax that was confirmed amounted to €207.47 million, compared to €195.65 million last year, up by almost 6%.
