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Greece continues to be a magnet for property investors and Bulgarians are among the most active buyers. The market in 2024 and 2025 shows remarkable resilience, but also significant regional differences. If you are considering buying a house in Greece or an apartment with a sea view, this analysis will give you a clear idea of the current property prices in Greece and the hottest investment destinations.
Market drivers: why do prices keep rising?
The property market in our southern neighbour is not growing by chance. A combination of a strong economy, record tourism and government incentives creates the perfect environment for investment. The Greek economy is growing at a rate outpacing the eurozone average and foreign investment in property reached nearly €6 billion in 2024.
Tourism, of course, remains the main pillar. With over 35 million visitors a year, demand for short-term rental properties (Airbnb-type) maintains high yields – averaging between 7% and 12% in popular destinations. This makes any property investment in Greece potentially very lucrative.
The government’s Golden Visa programme also plays a role. Although investment thresholds have been raised to €800,000 in the most sought-after areas such as Athens and Mykonos, this has shifted interest to more affordable markets. Regions such as Kavala, where it is still possible to enter the programme with a lower investment, are experiencing a real boom.
Property prices in Greece: Thessaloniki overtakes Athens
Despite the overall growth, the market is moving at several speeds. In the first quarter of 2025, the average appreciation of properties in the country is 6.8% year-on-year.
The undisputed champion in price growth is Thessaloniki. The second largest Greek city reports annual price increases between 10% and 12.5%. By comparison, in Athens the growth is more moderate – around 5.5%. This trend is of great importance for Bulgarian buyers due to the proximity and easy access. The average offer price in the municipality of Thessaloniki now reaches €2,558/sq.m., which is an increase of 12.54% in a year.
Halkidiki, the classic holiday property destination in Greece, is not far behind. Forecasts for 2025 indicate price growth of around 15%. Here Bulgarians, together with other buyers from the Balkans, form over 40% of the market. Prices vary widely, but average between €1,800 and €2,500 per square metre.
Kavala emerges as the hidden favorite. With annual price growth of an impressive 20.9% and an average price of €1,630/sqm, the region offers a combination of affordability and huge capital gain potential.
Where are the opportunities? Hot spots and emerging markets
For the investor seeking rental income:
- Thessaloniki: the city is the perfect choice. The huge student community and young professionals guarantee a constant demand for apartments for long-term rent. The metro extension further increases the attractiveness of properties near the new stations. Yields are stable and risk lower compared to purely tourist locations.
For the buyer of a holiday property:
- Halkidiki: remains a top destination to buy a beach house in Greece. The market is dominated by older properties, which opens up opportunities for renovation and adding value. Kassandra and Sithonia offer different experiences and price levels.
- The coast of Kavala (Nea Iraklitsa, Nea Peramos): these areas combine beautiful beaches with lower prices compared to Halkidiki and are extremely popular among Bulgarian tourists.
Markets “under the radar” for bold investors:
- The island of Thassos: Defined as the most affordable Greek island to buy a property. It offers unique scenery and significantly lower prices.
- Working class neighbourhoods in Athens: Areas such as Patissia and Sepolia are showing surprisingly high price growth and rental yields of up to 7%, offering an affordable entry point into the capital.
In conclusion, the property market in Greece offers a variety of options for every type of buyer. While established markets remain a safe bet, emerging destinations such as Kavala and Thessaloniki offer higher growth potential. The key to a successful investment is good research and choosing the right location for your goals.
