Greek luxury real estate demand jumps 35% as British buyers surge on UK tax changes

Greeks remain the largest buyer group, accounting for 18.8% of total demand, followed closely by British buyers at 17.4%, Americans at 14.5% and French buyers at 6.3%, with notable activity also coming from Australia, Germany, Switzerland, Canada, the Netherlands and the United Arab Emirates.

British demand rose 60% over the past year, a shift the report links directly to the UK's elimination of its non-dom tax status, prompting wealthy residents to seek new jurisdictions. Greece has emerged as a key beneficiary, leveraging its own non-dom tax regime, which offers incentives to high-net-worth individuals who relocate their tax residency to the country.

The report also highlighted a broader diversification of buyers: interest from Spain surged 470% year-over-year, from South Africa 264%, from the Netherlands 199% and from Belgium 101%.

Buyers are also spending more. 

Properties valued above €5 million now account for roughly 70% of total demand value, with that segment posting 45% annual growth, outpacing all other price categories. The average property price sought reached €5.89 million, while the median value climbed to €2.95 million, up 28%.

Mykonos remains Greece's most expensive luxury market, with a median asking price of €10,938 per square meter, followed by the Athens Riviera at €10,213 per square meter, where new high-end waterfront developments are commanding up to €26,800 per square meter. Central Athens ranks third at €9,490 per square meter, followed by Lefkada, Paros and Corfu. Crete, Kefalonia and Zakynthos remain comparatively affordable, ranging between €6,000 and €7,200 per square meter, leaving room for further price growth.

The report noted that accurately priced properties continue selling quickly, while overpriced listings remain on the market for months, gradually losing buyer interest as Greece's luxury market matures into a more internationally diversified sector.