Greece has officially stormed into the upper echelon of the world’s most coveted coastal property markets. Mykonos and the Athenian Riviera now shine among the ten priciest luxury residential destinations in the Mediterranean, according to the latest data from Greece Sotheby’s International Realty.
The report, analyzing €550 million in actual transactions across 2,145 high-end properties, reveals staggering averages:
- Mykonos: €10,800 per square metre
- Athenian Riviera: €10,500 per square metre
For the first time, six Greek locales feature in the Mediterranean’s Top 20 most expensive postcodes: Mykonos and the Athenian Riviera claim spots in the Top 10, followed by Crete, the Peloponnese, Paros, and Tinos in positions 11–20.
Luxury Benchmark Comparisons:
- Ibiza: €11,600/m² vs Mykonos: €10,800/m²
- Prime Dubai waterfront: €12,600/m² vs Athenian Riviera: €10,500/m²
- Mallorca: €9,900/m² vs Corfu: €8,900/m²
The findings confirm that Greece is closing the gap with long-established ultra-prime markets, proving that its coastline is now a top-tier luxury destination.
International Buyers Take the Lead
Foreign investors dominate, accounting for 67% of all transactions in the €2 million-plus segment, led by the United States, United Kingdom, and France. Local Greek buyers represent just 33%, increasingly focusing on secondary luxury locations where prices remain relatively accessible.
The typical luxury buyer – dubbed the “Romantic Affluent” – is usually 54 years old, with an average budget of €2.5 million, and prioritizes architectural authenticity and pristine sea views.
Savvas Savvaidis, CEO of Greece Sotheby’s International Realty, remarks:
“Greece has definitively joined the global elite of luxury residential destinations. While this success underscores the country’s international allure, it also presents a growing challenge for local buyers, for whom these prime addresses are becoming financially out of reach.”
The report highlights a striking reality: Greece’s most iconic coastal properties now compete directly with Saint-Tropez, Capri, and Dubai – locations historically reserved for the world’s wealthiest investors.