The Greek holiday home market has entered a new era, as over the course of a decade, asking sale prices have increased significantly across all popular island destinations. GEOAXIS’s ten-year survey data for the period 2017-2026 captures the steady appreciation of properties in Mykonos, Paros, Santorini, Serifos and Kea, confirming that the Greek islands continue to be one of the most attractive investment destinations in the Mediterranean.
The upward trend is not limited only to luxury properties, but concerns the holiday home market as a whole. However, the intensity of the increase varies from island to island, reflecting both demand and the particular characteristics of each local market.
Mykonos: The biggest increase of the decade
Mykonos continues to be the most expensive destination in the Greek holiday home market and, at the same time, the one that recorded the largest increase over the past decade.
In 2017, the median asking price for a typical holiday home stood at €2,141 per square metre. By 2026, this price had reached €2,969 per sq.m., recording a total increase of 38.7%.
This trend was not a one-off. Prices moved upwards almost every year, from €2,145 in 2018 and €2,181 in 2019, to €2,228 in 2020, followed by an even stronger increase after 2021. In 2024, prices stood at €2,749, in 2025 at €2,854 and this year at €2,969 per square metre.
Paros: One of the market’s biggest price increases
Paros is also among the biggest gainers of the past decade. The median asking sale price increased from €1,770 per sq.m. in 2017 to €2,384 per sq.m. in 2026, recording a total increase of 24.7%.
This development reflects the strengthening interest recorded in recent years in the island, both from Greek and foreign buyers, who are seeking a destination that combines a high quality of life, easy access and still lower prices compared with Mykonos.
Santorini: The mildest increase
In contrast to the other islands, Santorini presents the smallest overall increase of the decade.
Median asking prices increased from €1,772 per square metre in 2017 to €2,363 per sq.m. in 2026, recording an increase of 13.4%.
Although this percentage is the lowest in the survey, Santorini continues to rank among the most expensive holiday home markets in Greece, a fact attributed to consistently strong international demand and the significantly limited availability of developable land.
Serifos and Kea gain ground
Also noteworthy is the performance of smaller island markets, which in recent years have shown steady upgrading.
Serifos recorded a total increase of 26.4%, with median asking prices rising from €1,326 per sq.m. in 2017 to €1,676 per sq.m. in 2026.
Similarly, in Kea (Tzia), prices increased by 24.1%, rising from €1,629 per square metre in 2017 to €2,184 per sq.m. in 2026.
This development is attributed to the growing demand for islands that are close to Attica, offer easy access and still have room for further development compared with more mature tourist destinations.
The pandemic did not halt the upward trend
One of the key conclusions of the survey is that even the pandemic period did not halt the market’s long-term upward trend.
On the contrary, after 2021, an even stronger acceleration in price increases was recorded, as demand for holiday homes increased significantly. The shift towards remote working, the search for high-quality homes in seaside destinations, as well as the strong interest from foreign investors and high-net-worth buyers, created new pressures on prices.
At the same time, the limited supply of quality properties, particularly in prime locations, contributed to maintaining the upward trend, pushing values to new high levels.
The market enters a new phase
The ten-year picture captures a market that has matured and diversified significantly. Demand is no longer focused exclusively on luxury villas worth millions of euros, but is also expanding into typical holiday homes, which are likewise recording steady price increases.
At the same time, the gap between the two categories is widening. Luxury properties, which primarily target buyers from abroad, now form a separate market, with prices in Mykonos reaching as high as €30,000 per square metre, while even typical holiday homes are now trading at noticeably higher levels compared with ten years ago.
The overall picture shows that, despite the economic challenges of recent years, the Greek holiday home market remains highly resilient and continues to be one of the most attractive segments of the domestic real estate market, with the decade 2017-2026 characterized by continuous appreciation in values across all major island destinations.
