Optimism and Resilience in the Greek Housing Market: Key Findings from Cerved Property Services’ Annual Survey
To gain a more comprehensive and effective understanding of developments in the Greek real estate market, Cerved Property Services carried out its annual survey on housing market trends. The objective was to capture the views of sector experts and shape forecasts regarding the market's future course.
508 real estate professionals participated in the survey, including 300 certified valuers and 208 real estate consultants, representing agencies from across Greece.
Demand Exceeding Supply
In response to the question about the supply-demand relationship in the housing market through the end of 2025, 57% of respondents estimate that the market is characterized by excess demand. 30% believe there is a relative balance, while only 12.8% observe a surplus of supply.
Stability in Transaction Volumes
Regarding predictions for sales development, nearly half (47.4%) believe that transaction volumes will remain stable until the end of 2025. 41% expect an increase, while only 11.6% foresee a decline.
Apartments Maintain the Lion’s Share
The survey highlights the types of properties that attract the highest demand. 64% of respondents answered "apartments," followed by detached houses and maisonettes at 19.4%, plots of land at 9.3%, and vacation homes at 7.6%.
Owner-Occupation as the Primary Motivation
According to 61.5% of industry professionals, most buyers are seeking homes for owner-occupation. The remaining 38.5% are focused on property acquisition for investment purposes.
The Role of Foreign Buyers
A notable finding is the presence of foreign buyers in the market. 46.4% of professionals estimate that foreigners account for less than 20% of total buyers, while 35.6% believe this number exceeds 30%. However, according to 90% of respondents active in Athens, Thessaloniki, and popular tourist destinations, the share of foreign buyers in these areas exceeds 30%. In regions such as the Cyclades, Ionian Islands, Halkidiki, and Ermionida, it even surpasses 70%.
Price Adjustment in Sales and Rentals
49% of the professionals predict stabilizing trends concerning housing sale prices, while 46% expect further increases. Of those, 42% believe the rise will not exceed 5%. Only a small percentage, less than 5%, foresee a price decline.
A similar picture emerges in the rental market. 47% anticipate rent increases, with most estimating the increase will stay below 5%. The rest expect either stability or a slight decrease.
Conclusion: Resilience with Signs of Normalization
The survey findings depict a market marked by resilience and cautious optimism. Housing demand remains strong, and transaction volumes are expected to remain stable or slightly increase. Owner-occupation is the dominant motive behind purchases, while foreign buyers continue to boost activity in specific geographic areas.
Finally, prices in sales and rentals appear to be entering a phase of decelerating growth, following the rapid increases of recent years. This trend shapes a market environment marked by relative stability and cautious optimism.
Research Team
Maria Filippakopoulou
Research & Valuations Expert
Pelagia Anamourloglou