After the last period of stagnation, marked by the financial crisis of our country, the Greek banks have returned to steadily upward rates to housing faith. In 2024, according to converging bank estimates, it was closed with youth disbursements mortgage EUR 1.8 billion, increased by about 38% compared to 2023, when € 1.3 billion had been granted.
This rise is recorded in a market that had been historically low, with just € 300 million a year during the deep crisis, to reach € 600 million in 2020, which marked the start of the gradual trend of new disbursements. The first four months of 2025 confirms the positive trend, with disbursements of more than € 500 million, while banks’ estimates converge that last year’s performance will be overcome, thanks to the boost that gives my home program 2. The average housing loan today ranges from € 110,000 and € 120,000.
As the competent bank executives have pointed out in public placements, the banking system has now upgraded infrastructure and generally loan rating units, with trained staff and modern systems that allow faster and more reliable credit ratings.
However, as bank executives acknowledge, the rapid return of housing faith has to address the call for limited real estate supply in relation to the demand that is estimated to be gradually resolved due to interventions announced by the state.
The average housing loan is € 120,000 and the validity rate is approximately 80% as most of the loan have no openings that cause problems during evaluation. The borrower’s average profile is between 35 and 50 years old with one or two children looking for a property for the first home between 80 and 120 square meters.
What real estate did buyers choose in 2024
But what are the properties that Greeks choose to buy? The constant preference of buyers in older and more economical homes, compared to new real estate, confirm the data recorded by Re/Max Greece for 2024.
In particular, according to research results based on thousands of sales held last year for another year, Homes have emerged dominant in buyers’ choices, representing the 77,1% of all real estate sold nationwide.
Follow Plots and parcels with 18.2%while limited interest was recorded for professional real estate, such as offices and shops, as these were just 4.7% of total traders.
With reference to buyers’ preference to old houses, 66.1% of residential real estate that changed hands in 2024 was over 20 years old. This trend is attributed to the fact that buyers are looking for real estate at affordable prices and if a renovation is required, the total cost allows the property to display valuable goodwill in the future.
At the same time, The newly built real estate up to 5 years old, garnered the shopping interest of 19.3% on the whole. It is a significantly increased rate compared to 2023, which indicates a gradual enhancement of demand for new, modern homes – especially in areas where reconstruction has increased.
In Attica, according to Re/Max Hellas survey, housing supremacy is even more intense, as they made up 87.6% of total property sales. On the contrary, professional real estate was 6.7% and only 5.7% of total sales.
As for the age of the real estate, 82.9% of homes sold were over 20 years of age. The newly built only 4%, which reflects the limited availability of new properties in the basin, but also the high demand for more economical solutions.
Thessaloniki follows with similar rates, with houses occupying 88.2% of total sales and 8.4%. In terms of plots, they covered 3.4% of total property sold last year. Regarding the age of real estate sold in Thessaloniki, 80.6% of homes were over 20 years old, while the newly built 7.6%. It is a percentage increased compared to that of Attica.
In the rest of Greece, the image is slightly different. Homes are still the main selection of buyers at 71.7%, but plots and parcels have a reinforced share of 25%. On the other hand, professional real estate gained only 3.3% of total buyers.
However, the preference for old houses in the rest of Greece remains, but to a milder degree. 56.2% of the residences sold were over 20 years of age, while the newly built real estate reached 28% – the highest percentage nationwide.
Re/Max Greece’s research on buyers’ preferences in 2024, as the company estimates, confirms that those who acquire property continue to choose mainly homes, with a particular preference for old real estate. However, there is a gradual strengthening of the demand for newly built houses, especially outside Attica. At the same time, investment in land remains an important choice, especially in the region.