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In the middle of difficulty lies opportunity.

Albert Einstein

Greek Property Market Outlook and Economic Background

Greece is one of the most lucrative real estate markets in Europe. For value-oriented investors, this country is pinpointed as a leading destination on their asset allocation maps for 2021 – 2022

Thanks to Greece’s successful response to the first wave of the Covid-19 epidemic, this Mediterranean country has won much praise from World leaders and was even one of the first countries to open its skies to tourists in Summer 2020!

For the past decade, Greece has faced a deep economic crisis that culminated in July 2015. As a result, property prices this European country have decreased by about 40% all over the country and in some areas, over 80% was recorded from 2008 till 2016.
Starting from 2017 the country shows notable signs of recovery. The Greek economy grew by around 2% in 2019, according to the International Monetary Fund (IMF) – the highest growth since 2007.

It has improved in a several essential economic parameters, such as:


GDP from Construction in Greece averaged 1456.34 EUR Million from 1995 until 2024, reaching an all time high of 3442.74 EUR Million in the fourth quarter of 2006 and a record low of 336.70 EUR Million in the first quarter of 2017


A substantial rise in the number of building permits: it soared 18.3% to 2,170 building permits during 2021 according to the Hellenic Statistical Authority


Massive governmental investment in infrastructure


Greece’s political debt continues to reduce


Credit rating increase to B1 (stable horizon)


The National Minimum Wage (NMW) was increased to 758.33 EUR/Month in 2021 as per Trading Economics


the Greek stock market’s general index in the first half of 2024 reached 1443.38 points and is expected to remain at the same level until the end of the year


The unemployment rate in Greece in January 2024 stood at 10.4% compared to 11.3% in January 2023 and the upwardly revised 10.4% in December 2023

Key Factors for Investing in Greece in 2021 – 2022

  • The Greek real estate market is steadily on the rise.
  • Yield and potential upside are among the highest in the world.
  • Three years suspension of VAT payments on any new building permits as well as those to be made on unsold properties built after January 1, 2006.
  • Reduction of the single property tax (ENFIA).
  • Tertiary education in Greece is free for Bachelor’s degree and Doctoral degree programs. In respect to this fact, Greece has the highest enrolment rates in Bachelor’s programs of all OECD countries with the highest number of students to population ratio. There is a significant shortage in student dormitories, and students turn to the private market for apartments and rentals.
  • Greece is one of the most visited countries in the world, more than 32.7 million tourists came to Greece in 2023 and it is expected that 35 million will visit the destination in 2024, setting a new record for the country.
  • The average room rate for January reached 90.34 euros compared to €90.01 in 2023 – i.e. a positive change of 0.4%. And the revenue per available room was €47.69 in January 2024 compared to 46.08 euros a year earlier – i.e. growth of 3.5%.
  • The Greek “Residence Via Property Purchase ” programme in 2024 has been completely changed, however it still remains low at 250,000 for some cases, compared to other European countries.

Finders Assets Assortment

Our continuous trustworthy business relationships and networking with all local property professionals allow us to reach the best exclusive opportunities at below-market prices. Our extensive range of properties includes commercial and residential buildings which could be converted into apartment hotel or students’ accommodation, operating hotels or hotels’ chains, offices, shops, small projects suitable for flipping, buildable plots of land, and luxury villas.

Privately owned assets:

Villas / Luxury Villas – private vacation properties suitable for rentals

Properties for renovation – properties with a high ROI potential

Residential buildings and apartments

Hotels – operating or were operating in the past

Commercial assets – offices, shops and more

Complexes – shared complexes perfect for tourist rentals

Land – for self-build and custom projects

Islands – registered in a private land registry

Governmental assets:

Hotels – active/inactive hotels, some controlling natural resources

Land – areas designated for development

Commercial Assets – a wide range of commercial properties a possible zoning change

Islands – for leasing and development

Office Buildings – Leasing to a Government / State entity

Banks Assets:

Debt Repayment – acquisition of ownership through property debt repayment

Asset realization – forfeited assets in the realization stage

Red Loans – Assets declared “problematic” due to tardy loan payments

A Real Estate backed debt buying – buying property ownership rights, including debt carried by property

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