The Cyclades, Corfu and Athens Riviera compete with Mallorca and Ibiza

Study Greece Sotheby’s International Realty records the rapid expansion of interest in premium real estate in Greece. Analytical work combines a survey of investors in the category UHNW with confirmation by real data on transactions worth more than 550 million euros.

The annual volume of the luxury housing market in the country is estimated at approximately 1 billion euroshowever, the growth potential remains significant, given that the comparable figure throughout Mediterranean reaches 50 billion euros. A comparison with developed resort locations demonstrates that the Greek market has moved to a higher category and competes on equal terms with traditional premium real estate centers.

Demand growth and buyer structure

According to the study, 63% of respondents declare their intention to purchase real estate in Greece. At the same time, every second person is simultaneously considering other Mediterranean destinations – Italy (15%), France (10%) and Spain (9%). In the market, infrastructure, regulatory stability and environmental sustainability factors are increasingly playing a role in shaping the long-term value of assets.

Foreign buyers account for 67% all study participants. Leading markets of origin – USA (12%), United Kingdom (10%) and France (8%). The Greeks form the remaining 33% of demand.

Head of the company Savas Savvaidisemphasizes that the data obtained confirm that Greece has reached the level of mature markets like Mallorca and Ibiza. However, its share in the Mediterranean segment is still only 2%, which indicates huge development potential. Completion of reforms in urban and territorial planning, as well as increased market transparency, can attract institutional investors and provide the necessary market depth.

Prices and international comparisons

The modern buyer of luxury real estate is becoming more mature, informed and selective. The study demonstrates that:

• Corfu very close to Mallorca: 8,900 euros/sq.m versus 9,900 euros/sq.m;
• Mykonos comparable to Ibiza: 10,800 euros/sq.m versus 11,600 euros/sq.m;
• Peloponnese approaching Tuscany: 5,500 euros/sq.m versus 4,000 euros/sq.m;
• Athens Riviera (10,500 euros/sq.m.) approaches Dubai (12,600 euros/sq.m.);
• Tinos And Paros already higher in price than Miami (7,600 euros/sq.m);
• Popular Greek destinations have come close to reaching the level Hamptons (9,200 euros/sq.m).

Buyer profile and budget

The main age group of buyers is 55-64 years old (33.6%), followed by the 45-54 category (29.6%). The average age is 54 years.

Median budget – 2.5 million euros. At the same time, 87% purchase properties in the range of 1–5 million euros, and 13% exceed this level.

Greek buyers most often choose Athens Riviera And Northern suburbs (42%), followed by Cyclades (28%), Peloponnese (15%) and Ionian Islands (10%). Foreign buyers give preference Cyclades (40%), Ionian Islands (20%), Athens Riviera (15%), and Krita And Dodecanese (10%).

New buyer type: “Romantic Affluent”

The study identifies a new behavioral core of elite buyers – Romantic Affluent. This is a middle-aged investor (54 years old) with a budget of about 2.5 million euros, who is looking not just for luxury, but for harmony, identity and authenticity. He is interested in objects with architectural purity, natural integration into the landscape and a strong aesthetic concept.

Greece, with its light, landscapes and the restrained simplicity of traditional architecture, perfectly matches this new demand of the international elite.

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