Real Estate Boom: €12 Billion in Property Sales in Just Six Months

A record number of property sales have been recorded in Greece in the last six months, reaching €12 billion. According to data from the AADE, declarations of property transfers have increased dramatically, with more than 108,000 registrations through myProperty.

The average value of each transaction amounts to €110,000, although the actual value is estimated to be higher due to the practice of declaring objective values. Only 1 in 17 properties were purchased with a mortgage, while the remaining purchases were made with cash or other sources.

Large property sales were recorded in Mykonos, Athens, and Rhodes, with prices exceeding objective values. For example, a detached house in Mykonos was sold for €3.8 million, while a commercial property in Athens fetched €15.6 million.