The average price for an apartment in Greece rose by 5.7% in the first quarter (Q1) of 2026 compared with the same period a year earlier, according to provisional data released this week by the Bank of Greece.
More specifically, the cost of newly built apartments – constructed in the last five years – rose by 6.0% compared to Q1 2025, while prices for older homes increased by 5.5%.
According to revised data released by the central bank, prices for new apartments rose by an average of 7.7% in 2025, down from 10.2% in 2024. For older flats, the average annual increase stood at 8.4% in 2025, unchanged from the previous year.
Overall, apartment prices across Greece increased by an average of 8.1% in 2025, compared with a 9.1% rise in 2024.
The strongest gains continue to be recorded in major urban centres. In Athens, apartment prices increased by 5.2% in the first three months of 2026 compared with the same period a year earlier. Thessaloniki posted a larger increase of 6.4%, while prices rose by 5.4% in other major cities and by 6.9% in the rest of the country.
The sustained rise in property values has intensified concerns over housing affordability. According to findings by the International Monetary Fund (IMF), asking prices for residential real estate in Greece have surged by around 85% since 2016, while disposable incomes have increased by just 47% over the same period.
As a result, housing costs now absorb more than one-third of disposable household income in Greece. Approximately two in five households spend more than 40% of their income on housing.
