Prices for vacation homes across the country are up 10.8% this year, according to a survey by Elxis - At Home In Greece. The average price per square meter for the four-month period from January to April this year, compared to the same period last year, stands at €3,398/sq. m., up from €3,067/sq. m.
The main reason for this increase is the significant rise in new construction, resulting from high purchasing interest from abroad, a sector in which Elxis specializes, as it markets properties to foreign buyers, primarily from Northern European countries and the U.S.
Specifically, the relevant announcement explains that for vacation homes purchased off-plan, the average price of signed contracts rose by 12.5% to €507,427. At the same time, the average price per square meter rose by 12%, from €3,790 to €4,245.
Commenting on this development, Mr. George Gavriilidis, CEO of Elxis, noted the following: “This year’s increase and the broader trend demonstrate the strong interest in newly built homes, despite rising construction costs due to price adjustments.
Buyers seeking modern specifications, high energy efficiency, and a wide range of usage options—such as for owner-occupancy or investment—continue to fuel demand in the Greek market.”
For existing homes, the picture is different. Specifically, the average total sales price in completed contracts during the first four months fell by 13.3%, while the price per square meter rose by 8.9%.
Thus, the average sales price fell to €251,667 (from €290,167 during the same period last year), but the average price per square meter rose to €2,550, up from €2,342. “This indicates that buyers turned to smaller properties or those with a lower total cost, without, however, reducing the value per square meter, ” explains Mr. Gavriilidis.
Specifically regarding the Cretan market, which remains one of the most popular choices for foreign buyers, the average home price, based on actual sales data, rose by 3.3% in the first four months of 2026, reaching €456,600, up from €442,000 in the corresponding period of 2025. The increase is more modest but indicates steady momentum in one of Greece’s most popular vacation home markets.
According to Elxis data, published in a recent company analysis, the average expenditure per buyer increased by 37.3% in 2025, reaching €450,000. “Until 2023, our clients’ budget ceiling was around €450,000–€500,000, and this amount applied to a relatively small number of people, as most were in the €300,000–€350,000 range.
“Today, as our data shows, this has changed, and there is significant demand for more expensive homes, over €500,000, particularly new builds with private pools, spacious interiors, gardens, and other amenities,” notes Mr. Gavriilidis.
According to him, newly built villas costing €400,000–€500,000, with a private pool and located near the sea or offering a view of it, are hard to find in other European countries.
Properties of this caliber also offer the added advantage of investment potential for a few months each year, as well as capital appreciation from a future sale, as evidenced by data from the first four months of this year.