International buyers from Europe, the United States and the Middle East are driving a luxury property boom along Greece’s Athens Riviera, where homes now sell for as much as €32,000 per square meter, according to To Vima (τα νέα), citing data from property platform Spitogatos and real-estate firms Engel & Völkers and Savills.
Vouliagmeni remains the most expensive stretch of the coastline: the average asking price for residential property there stood at €7,442 per square meter in the third quarter of 2026, per Spitogatos data, followed by Voula (€6,389), Ellinikon (€5,849) and Glyfada (€5,758). In the ultra-luxury segment, Savills put top-end Vouliagmeni prices as high as €29,000 per square meter, while Engel & Völkers listed Vouliagmeni homes generally in the €8,500–€12,000 range, up 5–7% year over year.
Demand is being pulled in two directions at once. The large-scale redevelopment of the former Athens airport site at Ellinikon — where new-build prices often start above €10,000 per square meter — is adding fresh high-end supply even as overall housing stock along the coast stays tight. At the same time, a planned fivefold increase in Greece’s property transfer tax for certain non-EU buyers is set to take effect on 1 July 2027, which To Vima reports is already prompting buyers to accelerate purchases to beat the deadline.
Price gains vary sharply by neighborhood: Ellinikon posted the fastest annual increase cited (10–12%), followed by Voula and Glyfada (7–9%), while Vouliagmeni’s higher base translated into comparatively slower percentage growth (5–7%). Listed examples underline the scale of the top end of the market — a 276-square-meter penthouse with a private pool in Glyfada is listed at €3.4 million, and a 500-square-meter Vouliagmeni residence with a pool, gym and private cinema is listed at €6.75 million through Engel & Völkers.
For buyers weighing a purchase, the transfer-tax deadline is the clearest near-term catalyst: non-EU buyers who plan to buy in this market have an incentive to complete transactions before the higher rate applies from July 2027, while EU buyers are not affected by that specific change.
References
To Vima – Foreign Buyers Drive Luxury Boom on Athens Riviera
