Housing Prices Soar: Greece Joins Global Real Estate Elite!

Greece’s housing market has become a global headline, with cumulative price growth of 77% over the last decade (2015–2025), according to Global Property Guide. Athens and Thessaloniki are experiencing an unprecedented surge, with prices jumping 103% and 100%, while households face an increasingly unaffordable market.

Greece Among the World’s Hottest Property Markets

After Portugal (+226%), the Netherlands (+121%), and the US (+92%), Greece ranks fifth globally for housing price growth. The rise is even more pronounced in major cities: annual growth reaches up to 9.6%, fueled by the government-backed “Spiti Mou 2” mortgage program, which supports homeownership.

Home or a Dream?

According to Deloitte, buying a 70 sqm new apartment in Athens now requires 15.3 years of combined salaries—only Amsterdam is higher at 15.4 years. Citizens are increasingly priced out, while banks remain strict on lending criteria, limiting access to housing.

A Window for Political Debate

Meanwhile, housing policy seems focused on boosting demand rather than increasing affordable supply. The result? Social pressure, rising inequality, and a risk of a sudden market slowdown.

From a “deeply wounded” post-crisis market, Greek real estate has become an international hot spot—but at serious social cost and with political stakes, as decisions on subsidies and housing programs will shape the next decade.The housing price surge is impressive, but Greek society bears the cost. Without expanding supply, the market faces a deeper housing crisis.

Source: pagenews.gr