Owning property has long been key to financial security in Europe, and for many households, including in Greece, it also means having a second home. A survey by the real estate company REMAX highlights striking contrasts across the continent, with Greece emerging as one of Europe’s leaders.
Greece and its neighbors lead the way in second home ownership
According to the survey, Greece ranks near the top in second-home ownership, with 39 percent of homeowners possessing an additional residence. Only Bulgaria, where nearly half of households (46 percent) own a second property, surpasses Greece.
Croatia follows closely with 37 percent. These figures are far above the European average of 25 percent, underscoring the strong cultural attachment to property in Southeast Europe.
A different picture in Northern Europe
In contrast, the Netherlands reports the lowest levels, with just 8 percent of homeowners possessing a second property. Interestingly, Dutch respondents expressed fewer concerns about affordability—only 57 percent described housing as “too expensive.” Instead, they appear more open to international mobility, with 29 percent saying they would consider relocating abroad for a more affordable lifestyle.
Ireland also lags behind, with only 11 percent of homeowners owning a second residence. Affordability is the primary barrier, with 71 percent of Irish respondents saying housing prices are too high. Dissatisfaction with housing in general is widespread, and 18 percent report unhappiness with current living conditions. This is the highest rate in Europe. For nearly half of them, affordability was the main factor.
Why people in Greece and across Europe buy a second home
The motivations behind owning a second property vary across Europe. Nearly half (44 percent) of second-home owners use it as a vacation retreat, while almost one in four (23 percent) plan to relocate there after retirement.
Practical reasons also play a role: 16 percent rent their properties long-term, another 16 percent list them on short-term platforms such as Airbnb, 14 percent treat them as investments, and 10 percent use them to split their lives between two cities.
Future aspirations remain strong
Geography influences location choices. In colder countries such as Ireland, 25 percent of second homes are located abroad, compared with 39 percent across Europe that remain within the owner’s home country. Looking ahead, 13 percent of Europeans without a second property say they are likely to purchase one in the future.
As the survey concludes, the appeal of second homes is not just financial—it is also about lifestyle, comfort, and leisure. Even in challenging economic conditions, the aspiration for a second home continues to shape Europe’s real estate markets.
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