Luxury Real Estate in Greece: Athens Remains the Top Choice for Buyers

Athens continues to lead as the most sought-after destination for luxury home buyers in Greece. The Athenian Riviera, Corfu, and the city centre make up the top three choices for 2024, reflecting strong demand for high-end properties.

According to the annual survey by Greece Sotheby’s International Realty, Greek buyers have taken the lead in luxury real estate demand for the first time, surpassing international buyers in this premium market segment.

Key Findings from the 3rd Market Report

In 2024, domestic interest surged, with Greeks accounting for 16.2% of total demand. U.S. buyers followed, despite a 4.3% decline from the previous year, while the British ranked third. Interestingly, the second and third spots were nearly tied, with British buyers making up 16.1% of demand—a 17% increase from 2023.

French buyers held a 9.3% share, followed by Germans at 4.4%. The top ten markets also included Switzerland, Israel, Australia, the UAE, and Canada.

Athens: The Leading Destination for Luxury Buyers

Data from Greece Sotheby’s International Realty confirm that Athens remains the top choice among buyers, with Mykonos dropping to sixth place. Over the past five years, the firm has facilitated transactions totalling €500 million. CEO Savvas Savvaidis emphasized that 2024 saw a marked increase in demand, reinforcing the appeal of Greece’s luxury real estate market among high-net-worth individuals.

The Athenian Riviera led demand, making up 17% of all purchase requests, while Athens overall accounted for 30%. Notably, the city’s coastal area saw an 87.2% spike in demand compared to 2023, while the northern suburbs experienced a remarkable 130% rise.

Corfu maintained its strong position as the second most popular location, followed by central Athens, Crete, and Lefkada. Mykonos, meanwhile, saw an 18% drop in demand, with Tinos, Paros, and Kea also experiencing declines.

Despite these shifts, record sales in the Ionian and Central Aegean regions confirm that demand remains robust for Greece’s prime luxury real estate locations.