[Ekathimerini reports]

Asking prices for holiday homes in Greece have jumped by up to 50% between 2019 and mid-2025, driven largely by foreign demand, according to a new national analysis by Spitogatos Insights.

The strongest interest came from the United States, the United Kingdom, Germany, the Netherlands and France.

According to the data, the Ionian Islands recorded the steepest increase, with the average asking price reaching €2,390/square meter, up from €1,600/sq.m. in 2019 – a 49.3% jump. The Aegean islands followed with €2,778/sq.m. (up 39%), while Crete rose 40.4% to €2,105/sq.m.

Based on Spitogatos’ research, the Cyclades remain the most expensive market. In Mykonos, in the second quarter of this year, the average price reached €7,143/sq.m., followed by Antiparos (€6,391/sq.m.), Paros (€5,000/sq.m.) and Folegandros (€4,951/sq.m.). Surprisingly, Santorini was lower at €4,211/sq.m., while Andros recorded the most affordable prices in the region at €2,120 per sq.m.

A recent survey by Elxis-At Home in Greece, a company that specializes in the sales of holiday homes to foreign buyers, reached similar conclusions. It found that the average price of a newly built villa with a garden and swimming pool rose by 10.2% over the past year to €4,675/sq.m., compared to €4,243/sq.m. in 2024, €3,675/sq.m. in 2023 and €3,458/sq.m. in 2022.

Therefore, from 2022 to 2025, prices have increased by 35%, a performance that has acted as a magnet for more foreign buyers.

At the same time, according to Elxis’ analysis, the Ionian islands now stand out in terms of prices, with the average price of a newly built villa now reaching €4,865/sq.m., reflecting the supply of new luxury houses in coastal locations.

Large price increases are also observed in Western Greece, where the average selling price now stands at €3,770/sq.m., marking an increase of 17% since 2022, due to the development of new luxury projects.

According to Elxis, another trend that is evident this year is the preference of an increasing number of buyers for homes located away from saturated tourist destinations. This development stems from the desire for greater peace and privacy, far from major tourist spots. At the same time, less touristy areas offer more affordable prices and, therefore, come with an expectation of greater future capital gains.