{"id":76351,"date":"2026-08-10T14:15:22","date_gmt":"2026-08-10T14:15:22","guid":{"rendered":"https:\/\/greeceinvests.com\/%d7%a0%d7%93%d7%9c%d7%9f-%d7%97%d7%93%d7%a9-%d7%91%d7%99%d7%95%d7%95%d7%9f\/"},"modified":"2026-08-12T08:36:24","modified_gmt":"2026-08-12T08:36:24","slug":"new-real-estate-in-greece","status":"publish","type":"post","link":"https:\/\/greeceinvests.com\/en\/new-real-estate-in-greece\/","title":{"rendered":"New Builds vs. Resale in Greece: What Really Drives Value in a Shifting Market"},"content":{"rendered":"

In almost every conversation with an investor weighing real estate investment in Greece, the same question comes up at some point: buy a new apartment or house at a higher price per square meter, or buy a resale property, maybe renovate it, and pay significantly less? The common intuition says “walls are walls,” and that value ultimately comes down to location and size. The data from the Greek market tells a different story, and a fairly consistent one: new construction in Greece trades at a meaningful, persistent premium over older properties, a premium that doesn’t disappear even when the older property has been renovated well. This piece goes through the official data, the reasons behind it, and what it looks like on the ground, including examples from the area where we operate, Karystos and southern Evia.<\/span><\/p>\n

The Official Numbers: A Persistent Gap, Not a One-Off Swing<\/b><\/h2>\n

According to the residential price index published by the Bank of Greece for Q1 2026, apartment prices across Greece rose 5.7% over the past year. Underneath that headline number sits a consistent gap: new apartments (up to 5 years old) rose 6.0%, compared with just 5.5% for older apartments (over 5 years)\u00a0 . This isn’t a one-time reading. In both 2024 and 2025 the national price index jumped sharply (8.79% and 7.78% respectively, in nominal terms), and market research cited by Global Property Guide shows that owners of older properties are forced to cut prices by 25 to 30 percent compared with a similar new property, just to attract buyers\u00a0 . This is structural pricing around new construction in Greece, not a seasonal fluctuation.<\/span><\/p>\n

The Price Map: How Much More New Construction in Greece Costs by Region<\/b><\/h2>\n

A regional breakdown based on transaction comparisons shows how dramatic the gap can get:<\/span><\/p>\n\n\n\n\n\n\n\n\n
Region<\/b><\/td>\nNew (up to 5 years) \u20ac\/m\u00b2<\/b><\/td>\nOld (over 5 years) \u20ac\/m\u00b2<\/b><\/td>\nGap<\/b><\/td>\n<\/tr>\n
Attica (Athens and surroundings)<\/span><\/td>\n3,706<\/span><\/td>\n2,460<\/span><\/td>\n50.6%<\/span><\/td>\n<\/tr>\n
Western Athens suburbs<\/span><\/td>\n2,887<\/span><\/td>\n1,678<\/span><\/td>\n72.1%<\/span><\/td>\n<\/tr>\n
Thessaloniki<\/span><\/td>\n2,597<\/span><\/td>\n1,798<\/span><\/td>\n44.4%<\/span><\/td>\n<\/tr>\n
Piraeus<\/span><\/td>\n\u2014<\/span><\/td>\n\u2014<\/span><\/td>\n35.3%<\/span><\/td>\n<\/tr>\n
Rest of Greece (including coastal areas)<\/span><\/td>\n2,723<\/span><\/td>\n1,759<\/span><\/td>\n54.8%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

On a national average, a new property is worth about 45 to 55 percent more per square meter than a comparable older property in the same location and size, and in some regions the gap tops 70%.<\/span><\/p>\n

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