A Piraeus Bank survey shows record expectations of further price rises in Greece, while Geoaxis and Spitogatos data point to rising values and a severe shortage of affordable homes.
According to To Vima — Finance, a new Piraeus Bank survey finds that Greeks do not believe the housing market has peaked. The Housing Climate Index, which tracks household views on buying and selling, prices, interest rates and income, fell to 43.6 points from 45.1 in the previous quarter, its lowest level since the survey began in late 2023. Throughout the survey period, roughly 60% to 70% of respondents have called conditions "not at all favorable" for buying, while around 40% to 45% have seen the period as very or fairly favorable for selling. The home price expectations index, which measures expectations for the next 12 months rather than actual price growth, rose to 74.1 points from 68.1, the highest reading on record. At the same time, the index for expected income over the next 12 months fell to 46.9 from 51.5, slipping below the neutral threshold, so negative income expectations now outweigh positive ones. Actual price data from the Geoaxis Property Value Observatory covers five Athens-area neighborhoods: Ampelokipoi, Marousi, Palaio Faliro, Peristeri and Cholargos. Newly built apartments rose 5.79% year on year (down from 6.07%) and 12.23% over two years (down from 15.11%). Older apartments gained 7.37% year on year (up from 6.65%) and 14.51% over two years (down from 14.97%). Over a decade, the average value of every apartment type rose by more than 100%. The supply side remains tight. A Spitogatos study presented at Prodexpo 2026 shows demand for affordable homes running as high as eight times the available supply, most acutely in lower income brackets. Nationwide, rental demand is three times that for purchases, with each available property drawing 23 searches and 2.4 unique inquiries. In Attica, the shortage is worst for rents below 600 euros, where available apartments are scarce and often old and energy-inefficient.