Most numbers you read about the Greek real estate market come from listing portals, what sellers ask. We went to what buyers actually paid. Drawing on the official Property Transfer Values Registry (Μητρώο Αξιών Μεταβιβάσεων Ακινήτων), we analysed every recorded transfer from the first five months of 2026: 13,193 transactions worth €1.41bn. The picture that emerges is of a market that has not only recovered from the long crisis, but has moved decisively past it.
Key Takeaways:
59% of apartments sold above their official tax value — the market has outrun the state's assessed prices.
A 3.4× gap separates the priciest and cheapest regions, from East Attica to the northern mainland.
New builds command a 69% premium over 1980s–90s apartments.
Apartments are half of all deals but 55% of the money; commercial property punches far above its weight.
Residential prices now sit above their 2008 peak, up about 90% from the 2017 low.
Buyers are paying above the tax value
Every Greek property has an objective value, a state-assessed price per square metre used to calculate transfer tax and the annual ENFIA. When sale prices consistently exceed it, the market is running ahead of officialdom. In early 2026, they did, clearly.
Median sale price was 1.11× the objective value; the mean reached 1.28×.
Where Greece is most and least expensive
Location still dictates everything. The coastal and suburban belt around Athens tops the table, while much of the northern and central mainland trades below €1,000/m². Crucially, the Athens–Thessaloniki gap is modest (€1,838 vs €1,509/m²), but the distance from the top region to the cheapest is a striking 3.4×.
Source: Property Transfer Values Registry, Jan–May 2026.
Athens, neighbourhood by neighbourhood
Within the Athens prefecture, the prime northern and southern suburbs lead. Filothei (€5,510/m²) and Glyfada (€4,739/m²) sit at the top; the most affordable municipalities, such as Agia Varvara (€971/m²), cost less than a fifth of the priciest. The City of Athens itself sits mid-table on price but dominates on volume.
Source: Property Transfer Values Registry, Jan–May 2026. * fewer than 5 sales.
The new-build premium is real
Greece's housing stock is old, and it shows in the price. Apartments built since 2020 sold for a median €2,294/m² — about 69% more than 1980s–90s stock — reflecting energy-efficiency standards and modern construction. Note that pre-1980 apartments hold their value better than 1980s–90s ones, a quirk explained by their concentration in prime central locations.
Source: Property Transfer Values Registry, Jan–May 2026.
What is actually selling
Apartments are the engine of the market — 51% of deals and 55% of all money changing hands. But commercial space is the quiet heavyweight: just 8% of transactions yet 18% of total value, reflecting fewer but far larger tickets. Land plots make up another 12%.
Source: Property Transfer Values Registry, Jan–May 2026.
Activity built through spring
Transaction volume climbed steadily into spring, peaking in April before a slight May easing — a healthy, active market rather than a frenzied one. Median apartment prices held broadly steady month to month, suggesting the gains are being absorbed rather than spiking.
Total recorded transfers per month, all property types, 2026. (May is a partial month-end snapshot.)
Past the 2008 peak at last
Step back two decades and the recovery is unmistakable. The Bank of Greece residential index bottomed in 2017 after the crisis, then climbed roughly 90% to reach 111.9 in early 2026 — now above its 2008 pre-crisis peak. Commercial property (offices and retail) followed a similar arc but remains a touch below its own former highs.
Bank of Greece price indices, 2006–2026 (residential 2007=100, whole country; office & retail 2010=100, Athens).
What it means for Greek real estate in 2026
Three signals stand out. First, the gap between sale prices and objective values means tax valuations are likely to rise, nudging up transfer tax and ENFIA in the hottest areas. Second, the steep new-build premium and the 3.4× regional spread mean the averages hide enormous variation — the right question is never "what does Greek property cost" but "what does this street, this vintage, this floor cost." Third, with prices already past their 2008 peak, the easy post-crisis re-rating is over; from here, returns in Greek real estate depend on selection rather than the tide.
Frequently asked questions
What is the average apartment price per square metre in Greece in 2026?
Across 4,677 full-ownership apartment sales recorded between January and May 2026, the median price was €1,479 per square metre (mean €1,754). The typical apartment sold for about €95,000 at a median size of 68 m².
Where are property prices highest and lowest in Greece?
Among regions with enough sales to rank, East Attica led at €1,975/m² and central Athens followed at €1,838/m². The most affordable mainland regions, such as Pella and Kozani, sat near €575/m² — a spread of roughly 3.4×.
Are Greek property prices still rising in 2026?
Yes. The Bank of Greece residential index reached 111.9 in early 2026, about 10% above its 2008 pre-crisis peak and roughly 90% above its 2017 low, though the pace of gains has cooled from the post-crisis surge.
Do properties sell above their objective (tax) value in Greece?
Frequently. About 59% of apartment sales in early 2026 closed above their objective zone value, at a median of 1.11× and a mean of 1.28× — evidence that market prices have moved ahead of the state's assessed values.
How much more do new apartments cost in Greece?
Newly built apartments (2020 or later) sold at a median €2,294/m², about 69% above 1980s–1990s stock — a clear premium for energy-efficient, modern construction.
Methodology & sources
This analysis is built on the official Property Transfer Values Registry (Μητρώο Αξιών Μεταβιβάσεων Ακινήτων), covering 13,193 property transfers recorded across Greece from 02 Jan 2026 to 28 May 2026 2026. Price-per-square-metre figures use apartment sales only, restricted to full-ownership, whole-property transfers within a €300–€20,000/m² range to exclude nominal family transfers and recording errors (4,677 qualifying sales). We report medians except where stated, as medians resist distortion from a handful of outlier deals. Long-run index figures are from the Bank of Greece. The objective-value premium compares sale price per m² to the published zone value (Τιμή Ζώνης) and is directional, as the full objective value also applies age and floor coefficients. Figures cover five months and are year-to-date, not annualised. Data and charts may be reused with attribution to DKG Development.