What is the overall picture of the real estate market in 2024?

According to the Hellenic Statistical Authority, the real estate market in Greece showed exceptional momentum in 2024, recording a total volume of notarial deeds approaching pre-crisis levels. Specifically, total transactions reached 961,967, an impressive increase of +14.8% compared to 2023 and almost double those recorded in 2015. This rise highlights the return of investment interest and confidence in the market.

How did property sales perform? 💰
Property sales were the main driver of growth. In 2024, 145,765 transactions were recorded, marking an increase of +19.4% compared to 2023. This performance is the highest of the past decade, surpassing even pre-crisis levels. Strong demand for housing, interest in holiday homes, and the presence of investment capital all contributed to this significant increase, confirming the market’s continued strong momentum.

What changes were observed in auctions?
The auction segment recorded the most dramatic increase over the decade. In 2024, 9,633 auctions were carried out, up by +32.1% compared to 2023 and by as much as +700.1% compared to 2015. This upward trend is mainly attributed to the ease of the electronic auction process, as well as increased pressure to address private debt. It is clear that the auction sector is at historic highs.

Why did parental transfers and lifetime donations increase? 💡
Both parental transfers (+23.4% from 2023) and lifetime donations (+31.3% from 2023) saw a significant rebound. This increase is directly linked to favorable tax conditions for intra-family transfers, particularly the €800,000 tax-free threshold. Families are moving quickly to settle their asset arrangements in anticipation of possible future increases in objective property values, thereby securing property transfers under the most advantageous terms.