Housing prices are rising, but so is Greek interest in buying property. Nearly 7 in 10 Greeks — 67% — now express some level of interest in purchasing real estate, compared to 51% who showed disinterest in May 2024. Additionally, nearly 69% believe access to mortgage loans is difficult (42%) or somewhat difficult (27%), reflecting the ongoing slowdown in home lending.
These findings are based on a survey of 1,500 individuals conducted by the University of Macedonia (PAMAK – Public Opinion and Market Research Unit) in the regions of Attica and Thessaloniki, for the “Real Estate Market Barometer – What Greeks Expect,” commissioned by investment blog iliaspapageorgiadis.com by Ilias Papageorgiadis.
Views on Housing Loans
When it comes to mortgage interest rates, 3 in 4 respondents say they are high (57%) or somewhat high (18%). This represents a slight improvement compared to May 2024, when a total of 82% believed rates were too high (65% high, 17% somewhat high).
The survey also confirms that housing remains a very big problem for 38% and a fairly big problem for 51% of Greeks. Only 10% believe it’s a minor issue, and just 2% say there’s no issue at all — figures nearly unchanged from the previous year.
The Impact of the “My Home 2” Program
Awareness of the government’s “My Home 2” housing program remains low. Only 13% say they are very informed, and 27% are somewhat informed, while 31% report being slightly informed and 29% not informed at all.
Moreover, 3 in 4 believe the program has caused price increases in both property sales and rentals. About 40% believe prices rose by more than 10%, 35% estimate increases up to 10%, and 37% say the same about rental prices. Only 1% observed price drops, while 18% think prices remained stable (19% for rent).
Rent Subsidy Reactions
Regarding the recently announced rent subsidy program, 55% believe it will lead to further price increases, 37% expect prices to remain stable, and only 4% believe rents will fall. An additional 5% responded “Don’t know / No answer.”
Buyer Intent and Budgets
Among those even slightly interested in the real estate market and who identify as potential buyers, 74% are looking to buy a home to live in, while 24% are looking for investment property (compared to 70% and 29% respectively last year).
Overall, 51% say they intend to buy property at some point, 26% within the next three years, and 13% within six months — slightly down from 16% in 2024.
What Can They Afford?
Regarding how much prospective buyers are willing to spend:
- 36% plan to spend €50,000–€100,000
- 24% aim for €100,000–€150,000
- 15% are looking at €150,000–€200,000
- 11% target the €200,000–€300,000 range
In total, 6 in 10 (60%) buyers aim to spend up to €150,000 on property.
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