House by the sea: the most expensive and economical areas

Many people have started to think about buying a home for a holiday home, a quiet haven, a summer retreat or for tourist use. And according to brokers, interest in this type of property is growing, as are prices.

Depending on the capabilities of each person, there are properties “for every budget”. On the one hand, it could be Mykonos, where the price per square meter starts at 6,600 euros/sq.m., but on the other hand, there are beautiful places, for example, in Messini, where the price for the same square meter is 1,040 euros/sq.m. Brokers report that there are properties, for example, on the island of Samos, where prices per square meter start at 900 euros.

When it comes to holiday home destinations, Greece is full of options, depending on what the interested parties are looking for. Whether you prefer the mountains or the sea, close (or further) to your permanent home, the key to price is always the location of the property. Both brokers and large listing platforms seem to agree that prices are rising rapidly, but there are many places, both by the sea and in the mountains, where the price of a holiday home is significantly lower than the average home in Athens or Thessaloniki.

Luxury real estate

Mykonos, one of the most famous tourist destinations in the country, tops the list with a price of 6,637 euros / sq.m. While many people think that Santorini will be in second place, they are wrong. In second place is Antiparos with 5,450 euros / sq.m., and third is Paros with 4,643 euros / sq.m. Patmos is on the rise. Prices have increased by about 17.1% compared to 2023, with an average asking price of 5,229 euros / sq.m. Santorini is in fourth place with 4,286 euros / sq.m. (prices have increased by 2.9% compared to 2023). The island shows the smallest price increase of all the above-mentioned islands for 2024, although experts note that the situation may change by the end of the year.

Cheap but popular

The most affordable places to buy a holiday home are Polychnitos on the island of Lesvos with 708 euros/sq.m., followed by Samos with 909 euros/sq.m., Zacharo in Elis with 955 euros/sq.m. and Aigio at 1,000 euros/sq.m. Messini remains an interesting proposition this year too: the price is around 1,040 euros/sq.m.

More affordable homes on most islands

TOPO GES IKE's housing market research shows that most people are interested in buying a holiday home on the island, but at a price that won't hit the family budget. The trend that has been observed from 2022 to 2023 remains strong in 2024. At a time when the main foreign investors choose the most popular destinations, which causes prices to rise.

A family house of almost 70 sq.m. in Ikaria is currently offered for 85,000 euros, and a house of 80 sq.m. and near the sea for 130,000 euros. At the same time, the market offers many options at a price of about 1,150 euros/sq.m.

A rule of thumb for those looking for a quality but cheaper holiday home on the island is that prices drop significantly the further you get from Athens. A two-hour drive can reduce the price per square metre by up to 40%.

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