A new pan-european survey by RE/MAX Europe reveals important trends in Greece’s housing market, highlighting both the country’s strong homeownership culture and the growing economic challenges faced by Greek citizens in securing affordable housing.

According to the “European Housing Trend Report 2024”, 64% of Greeks own at least one property, a number slightly above the European average. More striking though is that 39% of homeowners in Greece own a second property, often a vacation home —a figure is 14 percentage points higher than the European average​. With only 3% of second home owners being abroad, this number indicates a strong cultural emphasis on property investment within Greece even in the face of economic difficulties.

Photo Credit: RE/MAX Greece

Greek homebuyers are increasingly prioritizing features that combine comfort with sustainability. Low energy consumption (43%) and access to outdoor space (42%) top the list of key considerations when choosing a home.

Despite high property ownership rates, only 24% of respondents in Greece say they feel financially comfortable with their current housing situation – a full 20% less than the European average. An even lower percentage, 17%, feels comfortable with their energy costs.

It’s not a surprise then that a significant 59% prioritize affordability over location when considering a home. Rising energy costs have also pushed more Greeks to consider energy saving upgrades, such as installing solar panels (33%) and heat pumps (24%), figures well above the European averages​ (27% and 19% respectively).

Compared to the European average, Greeks are less satisfied with their current living conditions (68% compared to the EU’s 76%), while 24% say they would consider moving abroad for a more affordable lifestyle—on par with the European norm​.

Cover Photo Credit: RE/MAX