Wealthy international buyers are showing greater confidence in the Greek luxury property market than in their home countries, according to Greece Sotheby's International Realty.
In the brokerage firm's second annual Voices of Affluence survey, 53 per cent of international investors expect Greek property prices to rise, compared with 19 per cent anticipating growth at home. Another 42 per cent described their domestic markets as worse than last year. Across the full sample, 57 per cent forecast luxury price gains in Greece over the next 12 months, up from 44 per cent in 2025, while those expecting declines dropped from 20 per cent to 14 per cent.
The study collected 249 completed responses from high-net-worth and ultra-high-net-worth investors across 28 countries, drawn from 14,300 qualified contacts built over a decade. Greece Sotheby's International Realty, an affiliate of the global luxury real estate network, called it the only systematic gauge of affluent investor sentiment in Greece's prime residential market.
Economic Outlook and Buying Intentions
Confidence in the broader Greek economy has also improved. Thirty-nine per cent of respondents anticipate economic growth over the next 12 months, up from 27 per cent in 2025, while 41 per cent expect conditions to hold steady. Although 20 per cent forecast a decline, up from 17 per cent, four in five respondents expect Greece's economic trajectory to remain stable or positive.
Buying intentions remain high. One in three respondents plans to purchase Greek property within 12 months, rising to 50 per cent over two years, while half have bought or sold Greek real estate in the past five years. Personal wealth funds most activity: 56 per cent plan to pay entirely in cash, and only 5 per cent depend on bank borrowing. Even among those forecasting price drops, more than half are still considering buying, showing lifestyle and relocation priorities outweigh short-term capital returns.
British Buyers Lead Market Turnaround
British buyers have emerged as some of Greece's most optimistic investors, reversing last year's Brexit-driven caution. Fifty-six per cent of British respondents expect the Greek economy to strengthen, up from 20 per cent in 2025. Seventy per cent predict luxury property price rises, up from 44 per cent, and 41 per cent consider a Greek purchase over the coming year very likely or certain, up from 24 per cent.
Relocation or Greek tax residency is the top objective for British buyers, cited by 26 per cent roughly 18 months after Britain ended its non-domiciled tax regime. Britons now form the largest foreign cohort at 11 per cent, focusing on the Ionian Islands, the Athens Riviera, and the Peloponnese. Half hold budgets above 2 million euros, and 67 per cent will finance purchases entirely with equity.
Demographics and Property Budgets
Domestic Greek residents make up 42 per cent of the sample, up from 33 per cent in 2025, while international participants represent 58 per cent. Behind Britain's 11 per cent, foreign buyers originate from the United States at 10 per cent, Germany at 6 per cent, Switzerland at 5 per cent, Italy at 4 per cent, and the Gulf states at 3 per cent, with Australia and Canada joining the top ten.
Budgets are substantial across the sample. Fifty-six per cent of respondents have budgets between 1 million and 2 million euros, 33 per cent between 2 million and 5 million euros, and 11 per cent over 5 million euros. Foreign buyers possess greater purchasing power, with 54 per cent budgeting more than 2 million euros.
Preferences diverge between groups. Nearly half of foreign buyers seek standalone villas and 44 per cent want holiday homes, while 14 per cent cite relocation or tax residency. Greek buyers favour apartments and penthouses at 39 per cent or development plots at 24 per cent, driven by rental yields at 30 per cent, family wealth transfer at 20 per cent, or primary residences at 18 per cent.
Regional Demand and Buyer Motivations
Among foreign purchasers, the Ionian Islands lead with 26 per cent of interest, followed by the Cyclades at 20 per cent, the Athens Riviera at 15 per cent, and the Peloponnese at 12 per cent. American interest has broadened from Athens and the Cyclades into the Peloponnese and Ionian Islands. Greek buyers focus on the capital, with 56 per cent targeting metropolitan Athens and 15 per cent looking to the Cyclades.
Lifestyle and climate are the primary attractions for 66 per cent of all respondents and 72 per cent of foreign buyers. Family or historical ties followed at 31 per cent, while capital gains and safety each drew 23 per cent. Greece's Golden Visa attracted 13 per cent overall and 18 per cent of foreign buyers, while tax incentives drew 11 per cent overall and 14 per cent internationally.
High prices and personal circumstances tied as the top obstacles at 27 per cent each, followed by housing stock quality at 25 per cent, geopolitical uncertainty at 22 per cent, and bureaucracy at 19 per cent. Taxation, previously the leading hurdle, dropped to 10 per cent.
European Competition and Bureaucracy
Competition is stiffening, with 63 per cent of foreign buyers considering alternative countries, up from 52 per cent in 2025. Italy leads rival destinations at 23 per cent, followed by France at 10 per cent, and Switzerland, Spain, and the United Arab Emirates at 6 per cent each. In contrast, 66 per cent of Greek buyers look solely at home.
Asked what would ease buying in Greece, 47 per cent of 148 open-ended respondents demanded faster, simpler, and more predictable procedures, including faster building permits and legal certainty. Sixteen per cent urged lower taxes and transaction costs, 9 per cent sought better housing supply and infrastructure, 8 per cent called for completing the National Cadastre and digital property records, 7 per cent wanted stable Golden Visa rules, and 4 per cent cited mortgage access. Among sellers, 35 per cent would hold asking prices after a year on the market, 26 per cent would adjust prices, and 26 per cent would change agents or marketing strategy.
Calls for Administrative Reform
Savvas Savvaidis, the president and chief executive of Greece Sotheby's International Realty, said Greece has shifted from discovery to conviction. He said investors who viewed Greece as a market with potential in 2025 now see a destination where prices will rise while their home markets weaken, with British buyers offering the clearest signal.
Savvaidis said securing 249 responses from high-net-worth investors in Greece required a ten-year trust network, giving the findings unique weight.
He added that buyers comparing Greece to Italy, France, and Spain have stated what would win their business: faster procedures, a completed land registry, and stable rules. Savvaidis said these issues are within Greece's control, noting that with capital ready, administrative processes must match investor demand.
