Greece is recording impressive dynamics in the luxury real estate market, ranking among the top destinations worldwide. According to the latest data from Knight Frank and the international report The Wealth Report 2024, our country is experiencing growth rates that surpass even popular luxury residential markets such as those of Monaco and Dubai.

The Greek luxury real estate market is now on an explosive growth trajectory, attracting investors and high-income buyers who are choosing to buy or invest in properties in Greece’s most iconic areas.

Athens and the islands in the foreground

First on the list of areas with the highest demand is Athens, which is experiencing impressive growth in the luxury residential market. According to Knight Frank’s analysis, in 2023 the Greek capital experienced a 12.2% price increase in the luxury property market, ranking 5th globally for annual growth in the value of luxury homes.

Demand is concentrated in high-profile areas such as Kolonaki, Vouliagmeni, Glyfada, as well as new hot spots such as Ellinikon, thanks to the iconic investment of The Ellinikon, which is reshaping the map of luxury real estate in Attica.

At the same time, the Aegean and Ionian islands maintain their strong position. Mykonos and Santorini remain iconic destinations, with villas and luxury residences recording steady growth in prices and transactions. But interest has also turned to less prominent islands such as Paros, Kea and Antiparos, where quality of life, natural beauty and privacy are attracting discerning investors from around the world.

Why Greece is gaining ground on the international scene

Greece has strategic advantages that make it particularly attractive in the luxury real estate sector. The quality of life, temperate climate, cultural heritage and safety are key reasons why more and more foreigners are choosing the country for their residential property purchases.

The Golden Visa, which provides a residence permit to third country citizens with an investment in real estate in excess of €500,000, acts as an important incentive. At the same time, major infrastructure projects, such as the new airport in Kastelli, Crete, and the upgrading of ports, enhance the attractiveness of areas that combine natural beauty and direct accessibility.

In addition, the new tax regime for foreign tax residents and the tax stability that Greece is demonstrating create a positive environment for high-income investors.

Upgrading Greece to an international investment destination

This success does not only concern the real estate market but also the overall image of Greece on the international investment map. Investment in real estate leads to significant parallel benefits, such as strengthening the economy, creating new jobs and developing infrastructure.

Greece is being transformed into an international hub of quality of life, attracting people who are looking not only for a luxury property but also for a sustainable future. The emphasis on bioclimatic architecture and green housing, combined with respect for the natural environment, reinforce the country’s strategy for balanced development.

The message of a changing country

Greece’s distinction of being ranked 5th in the world in the luxury housing market is proof that the country can once again play a leading role at an international level. It is a national success, the result of strategic investments, stability and continuous efforts to upgrade.

As noted in the Knight Frank report, “Greece has managed to strengthen its profile as a leading destination for high net worth individuals, uniquely combining culture, quality of life and investment opportunities.”

Greece is steadily redefining its position on the international investment map. From a country of crisis, it is transforming itself into a destination of creation and opportunity.