Foreign buyers are driving Greece's holiday home market to record levels in 2026, accounting for between 60% and 85% of ...

Foreign buyers are driving Greece's holiday home market to record levels in 2026, accounting for between 60% and 85% of total demand at the country's top destinations, according to the annual report by real estate firm Engel & Völkers Greece. The average sale price for holiday homes across Greece hit 3,400 euros per square meter in the first four months of 2026, up 10.8% from 3,067 euros per square meter during the same period in 2025, according to a separate study by Elxis-At Home in Greece, a company specializing in selling holiday properties to foreign buyers. New-build homes sold off-plan averaged 507,427 euros, a 12.5% jump year-on-year, with price per square meter rising 12% to 4,245 euros. The main nationalities buying are British, German, French, Swiss, American, and Israeli. Engel & Völkers managing director Giorgos Petras said buyers are no longer just recovering an investment but seeking properties with architectural innovation, energy efficiency, and complete privacy. The push toward turnkey, move-in-ready homes with infinity pools and bioclimatic design is accelerating. Supply constraints are pushing prices up further. In Mykonos, a freeze on new building permits is increasing the value of existing stock. Hydra and Spetses face strict architectural restrictions that limit new development. Paros is currently the most active market in the Cyclades, with demand shifting toward the eastern side of the island for greater privacy, while Mykonos prices start at 7,500 euros per square meter and Halkidiki coastal properties are reaching 14,000 euros per square meter. On the mainland, Porto Heli in the Argolid is drawing Athenian and international elite buyers, while Messinia is rising fast on the back of the international profile built by Costa Navarino. The Elxis CEO Giorgos Gavriilidis noted that buyers continue to prioritize modern specifications and high energy performance whether purchasing for personal use or as an investment. Older resale properties showed softer dynamics. Average total sale prices for existing holiday homes fell 13.3% to 251,667 euros in the first quarter, though the price per square meter still climbed 8.9% to 2,550 euros, s...