Greece Sotheby’s International Realty released its 3rd Market Report, revealing the sustained dynamism of the Greek luxury real estate market. Over the past five years, total sales in Greece have reached 500 million euros, with the Athenian Riviera consistently leading in demand, while Mykonos has fallen to sixth place.
In 2024, Greece Sotheby’s International Realty achieved a substantial increase in activity with sales conversion rates jumping to 14.2% compared to 6.5% in 2023. Record sales in the Ionian and Central Aegean highlight ongoing strong demand in prime locations.
Notably, Greek buyers took the lead in demand, representing 16% of the total, followed closely by the United States. The UK experienced a 17% increase, while France and Germany showed slightly reduced interest.
The Athenian Riviera remained the top choice within Greece, with notable interest also in Corfu, central Athens, Crete, and Lefkada. Conversely, Mykonos and several islands witnessed a decline in requests.
An international survey conducted with 17 Sotheby’s International Realty offices showed enduring high interest from High Net Worth Individuals (HNWIs) for luxury homes, driven by high quality of living, strategic locations, and appealing incentives.
Looking to 2025, demand is expected to rise further, especially in locations offering strong investment prospects and enhanced lifestyles. Some markets, such as Paris, Miami, Hong Kong, and Cyprus, foresee stable demand.
Savvas Savvaidis, President and CEO of Greece Sotheby’s International Realty, highlighted 2024’s success in sales and investment interest, attributing the market’s strength to a favorable macroeconomic environment, quality real estate options, and appealing locations for HNWIs. The expanded international survey offers a deeper insight into global trends, supporting Greece’s position in the luxury market.