The luxury real estate market in Greece shows consistent activity, particularly in sought-after areas such as the Athens Riviera and the Northern Suburbs of Athens. However, a significant number of high-end properties remain unsold for extended periods, raising questions for owners about why some homes sell quickly while others linger on the market.
According to Korina Saia, CEO of Premier Realty, the reasons rarely lie in the overall market trend. Instead, they often relate to specific factors that directly affect a property’s appeal:
1. Incorrect Pricing
Price remains the most decisive factor. Modern buyers are well-informed, comparing real-time data and spotting discrepancies from market value. Overpriced luxury properties can deter potential buyers, especially as forecasts for 2026 predict only modest price increases of 3%-5%. When a property is overpriced, its active market period can stretch from weeks into months, weakening the seller’s negotiation position and the perceived value of the home.
2. Poor Market Positioning
Many luxury properties are presented without a clear identity or effective highlighting of their unique features. Without a compelling narrative, potential buyers may express initial interest but fail to engage in serious negotiations. In luxury markets worldwide, buyers are not just purchasing a property—they are buying an experience and lifestyle, and a lack of strategic presentation often results in silent rejection rather than outright disinterest.
3. Limited Marketing Strategy
A common mistake is listing a property without a comprehensive marketing plan. Successful luxury real estate requires active management, including clearly defined timelines, alternative strategies, and ongoing assessment of buyer responses. Properties that remain on the market for 90-120 days without serious interest are typically experiencing “market fatigue.”
4. Highly Selective Buyers
Demand is not lacking; buyers are increasingly selective. They evaluate properties based on functionality, construction quality, energy efficiency, and overall price-to-value ratio. Even in premium markets, rarity is created through accurate pricing, strategic positioning, and clear differentiation from competitors.
