Athens continues to dominate Greece’s luxury property market, with nearly one third of all inquiries focused on the broader Attica region, according to leading luxury real estate agency Greece Sotheby’s International Realty.
In its market report, released on Thursday, the agency highlighted the enduring strength of the Greek luxury property sector. The company specializes in high-end properties across Greece’s most sought-after destinations.
According to the report, the 2024 sales performance was marked by record highs and evolving buyer behavior.
The Viewings-to-Deals ratio improved significantly, rising from 6.5 percent in 2023 to 14.2 percent, reflecting greater decisiveness among buyers. While the overall number of viewings declined, the total number of transactions doubled compared to the previous year. This shift underscores a market driven by serious, committed buyers, culminating in a historic peak in sales activity.
Greeks take the lead in the luxury property market
For the first time, domestic buyers emerged as the leading source of demand, with Greece accounting for 16.2 percent of total inquiries. This signals a growing appetite for luxury real estate among Greek buyers.
The United States followed closely, also contributing 16.2 percent of inquiries, although this marked a slight decline of 4.3 percent compared to 2023. The United Kingdom ranked third, with robust growth of 17.2 percent and a nearly equal share of 16.1 percent.
Other key markets included France and Germany, which experienced modest declines, while Switzerland and the UAE posted significant gains of 14.1 percent and 32.6 percent, respectively. In contrast, interest from Australia and Canada fell by 16.2 percent and 18.3 percent.
Athens maintains its appeal
The Athens Riviera continues to drive demand, with inquiries surging by 87.2 percent and accounting for 17 percent of the total market share. Northern Athens also saw impressive growth, with requests nearly doubling (130 percent), highlighting its increasing desirability.
Meanwhile, Athens Center recorded a 35.7 percent rise in demand, showcasing the sustained appeal of urban luxury living.
Beyond Athens, Corfu held its position as a perennial favorite, maintaining second place with a steady market share of 15.6 percent.
However, island destinations such as Mykonos, Paros, Kea and Tinos faced challenges, with declines in demand. Crete and Lefkada, on the other hand, displayed moderate growth, rounding out the top five destinations.
Interest in luxury properties among high-net-worth individuals (HNWIs) remains a powerful driver of global real estate markets, the report notes. In 2024, several regions reported strong demand from HNWIs, particularly Italy, the United Kingdom, Spain and Dubai, which ranked “very high” on the interest scale.
Other markets, including Malta, Paris, Portugal, the Côte d’Azur, Egypt and Montenegro, reported high interest, while Croatia and Cyprus observed more moderate levels.
Looking ahead to 2025, industry leaders anticipate increasing demand from HNWIs across Italy, Spain, Malta, Dubai, Egypt and Montenegro.
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