The housing market has recorded fewer sales than last year, despite support from the government’s My Home loans program.
Market experts note that while transaction numbers remain relatively high, sales would have fallen sharply without the assistance provided by the program, especially in Attica and possibly Thessaloniki.
According to official data from the Independent Authority for Public Revenue, real estate transfer taxes brought in €180.59 million in between January and April 2025 — a 17.5% drop compared to the same period in 2024.
For the whole of last year, the state collected €1.2 billion from property taxes, including €608.2 million from 180,704 taxable transfers worth €20.2 billion, while another 6,000 tax-exempt transfers yielded €600 million. Furthermore, 24,653 first-time home transfer declarations were purchases were registered, amounting to €2.4 billion.
Nevertheless, market executives pointed out that in the major urban centers of Attica and Thessaloniki, a significant rise in prices and a limited supply of new builds have distorted the market, a trend that has been exacerbated by the My Home program.
In particular, 40- to 50-year-old properties are now often priced above €200,000, with €250,000 becoming the norm. Homes once worth €150,000 to €200,000 are being listed at €250,000 – the ceiling for eligibility under the My Home program, which offers a maximum loan of €190,000.
This has led to canceled deals, as bank appraisers frequently value properties below the agreed-upon sum between buyers and sellers, limiting the amount the banks can lend.
The 4th Real Estate Market Barometer, published every six months, reported for the first time a “fatigue” in demand, a phenomenon seemingly unable to match the pace of rising prices.
This conclusion was first noted by market professionals, 41% of whom now consider prices a bubble, up from 25% in May 2024, while 48% expect stabilization in the near future.
Overall, the research concludes that there are now fewer actual buyers than sellers.