Buying property in Athens: Is it still worth investing?

A maturing market is a positive sign

The Athens of 2026 bears little resemblance to the market of five years ago. Greece's real estate sector continues to attract strong interest from both domestic and international investors, but after a period of rapid growth, the market is showing signs of maturity. Rather than a cause for concern, this development reflects a healthier and more sustainable market environment.

As George Petras, CEO of Engel & Völkers Greece, explains:

"International investors continue to view Greece as a safe investment destination, but their approach has changed significantly. They are no longer simply looking for opportunities. Instead, they are seeking properties with clear added value, high specifications, and strong long-term value retention. In other words, the days when virtually any property could sell at the right price, regardless of quality, are over. Today, the market rewards strategic decision-making."

According to the latest data from the Bank of Greece, apartment prices increased by an average of 7.8% in 2025, compared with 9.1% in 2024.

In Athens, annual growth reached 5.9% in the fourth quarter of 2025. While still attractive for investors, this figure also signals a more balanced market trajectory.

What continues to drive prices higher

One of the key reasons the Athens property market remains resilient is the impact of major infrastructure projects that are transforming entire districts.

The first major developments at The Ellinikon are scheduled for completion during 2026, while total revenue from residential and land sales within the project is expected to reach €2 billion by the end of the year.

The development is acting as a powerful catalyst for value creation across the entire Athens Riviera, from Alimos to Voula.

At the same time, demand has increased significantly following the announcement of Metro Line 4. Real estate professionals report a high-demand zone extending approximately 400 metres around future stations, where property values are rising by as much as 8% above surrounding areas.

Where the opportunities are today

According to the Engel & Völkers Athens Market Report 2026, the market is increasingly operating at two different speeds.

High-specification, energy-efficient properties in strategic locations continue to deliver liquidity and long-term value growth. By contrast, older properties that fail to meet modern standards are finding it increasingly difficult to attract buyer interest.

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Several areas stand out as investment hotspots in 2026.

In the historic city centre, Kolonaki is averaging €6,086 per sq m, while Syntagma has reached €5,638 per sq m. Meanwhile, the construction of Metro Line 4 is supporting further price growth in areas such as Exarchia.

In the southern suburbs, the Athens Riviera, led by Glyfada, Voula and Vouliagmeni, remains the city's premier luxury residential market.

In the northern suburbs, locations such as Paleo Psychiko and Filothei continue to maintain their prestige, with newly built properties reaching prices of up to €10,000 per sq m.

Emerging neighbourhoods are also attracting significant attention. In the southern sector, Agios Dimitrios recorded annual growth of 10.3%, reaching an average of €3,016 per sq m, while Ilioupoli rose by 13% to €3,649 per sq m.

Piraeus, with annual growth of 11% and average prices approaching €2,967 per sq m, is emerging as one of the most dynamic markets in the wider Athens area.

Areas such as Galatsi, Zografou and Kypseli, all of which will benefit from Metro Line 4, have recorded annual price increases close to 12%.

The green transition as a driver of value

The defining trend of 2026 is undoubtedly the market's shift towards sustainability.

Liquidity and investment returns are increasingly concentrated in properties with high energy efficiency ratings. The traditional real estate principle of "location, location, location" is now being complemented by "energy performance, operating costs and digital infrastructure."

Market data supports this trend. Prices for newly built properties up to five years old have increased by 4.1%, compared with 3.3% for older properties, and the gap continues to widen.

Along the Athens Riviera, properties featuring LEED certification or geothermal systems command premiums of up to 20%.

Older properties without energy upgrades face the risk of long-term investment depreciation, a critical consideration for buyers with a long-term perspective.

Improving financing conditions

Access to mortgage financing is becoming increasingly favourable.

According to the Bank of Greece's February 2026 banking data, the average interest rate on new housing loans with a fixed-rate period of up to five years fell to 2.95%, marking a decline from the previous month.

Mortgage disbursements are expected to reach as much as €3 billion during 2026, reflecting growing confidence from both lenders and buyers.

At the same time, programmes such as "Spiti Mou II" are supporting demand, particularly in more affordable areas. These initiatives are expanding the buyer base and improving market liquidity in municipalities that previously experienced limited activity.

Who stands to benefit and who should be cautious

The Athens property market is far from saturated, but it has changed.

The era when virtually any property could be sold has ended. Today, quality is what matters most.

Buyers who invest in energy-efficient properties located in growth areas and close to Metro stations or major infrastructure projects continue to achieve strong returns. Conversely, those purchasing without a clear strategy in areas lacking development prospects may find themselves holding assets with declining liquidity.

Although price growth is becoming more moderate, the market continues to offer excellent opportunities for investors seeking secure placements with long-term appreciation potential.

The value of expert guidance

As the market becomes increasingly selective, professional advisory services have never been more important.

Engel & Völkers supports buyers exactly where the heart of the market is beating.

Buying property in Athens remains a compelling opportunity, provided decisions are made with knowledge, strategy, and the guidance of the right real estate advisor.

Download the full Athens Market Report 2026.