9/12/2025
The Greek property market is experiencing an extraordinary surge, with sales contracts worth more than 12 billion signed in just the first half of 2025. According to the Independent Authority for Public Revenue (AADE), over 108,000 property transfer declarations were filed through the myProperty platform, bringing the official average value per transaction to €110,000.
Unofficially, however, real market values are significantly higher, as many contracts are still registered at objective values, with the remainder exchanged “under the table.” Strikingly, only 1 in 17 properties was purchased using a mortgage loan. The overwhelming majority of deals were completed with cash, family support, private loans, or funds of unclear origin. Most transfers involved residential properties, followed by land plots and commercial spaces.
High-end transactions continue to dominate headlines:
A 360 sq.m. villa in Mykonos sold for €3.8 million, despite the zone value being just €1,050 per sq.m.
A listed commercial building in central Athens changed hands for €15.6 million, at a record €18,115 per sq.m.
On Rhodes, a 7,800 sq.m. tourist property sold for €8.7 million.
In Elliniko, a 330 sq.m. unfinished residence fetched nearly €3.8 million.
Similar trends are seen across Attica’s coastal suburbs, with villas in areas like Vari and Anavyssos selling at five to ten times their objective values. This wave resembles a “silent” real estate boom, but without the bank-driven financing frenzy of 2006–2008.
Of the €12 billion, only €700 million came from mortgages and around €500 million from foreign investors. But demand from abroad is cooling: foreign direct investment in Greek real estate fell by 31.4% in Q1 2025, dropping to €356.8 million from €520 million a year earlier, according to the Bank of Greece. The recent hike in minimum investment thresholds for the Golden Visa program is discouraging many overseas buyers, particularly in hotspots like Athens, Mykonos, and Santorini.
Greek families, meanwhile, are rushing to transfer assets while generous tax exemptions remain in place. More than 50,000 tax-free parental transfers were recorded in the first half of the year, thanks to the €800,000 exemption for first-degree relatives. Donations also surged, reaching 33,637 cases, most also exempt from taxation.
Only in rare cases did the state collect taxes:
216 parental transfers generated €11.4 million in tax revenue.
3,000 donations resulted in an additional €8.9 million.
Authorities are now scrutinizing chain donations (e.g. a child transferring assets to a parent, who then transfers them to a sibling) and applying stricter “source of funds” checks on donors. Transfers made via joint bank accounts are also under review.
Source: https://www.newmoney.gr/roh/palmos-oikonomias/oikonomia/ekrixi-stis-dilosis-metavivasis-akiniton-agorapolisies-12-dis-evro-mesa-se-molis-exi-mines/?fbclid=IwQ0xDSwMFldhleHRuA2FlbQIxMQABHgpTIKaAvsMuSZYK6EdZkymmeKJCQsqQU9sk_u2TU-mtqPN0DU_aQP4mIYEX_aem_xNHcsDaAoxtGy6uXkAxxRg