The anxiety over new increases in real estate prices is driving thousands of families to move first: instead of selling, they’re transferring. Purchases are slowing, but parental contributions and donations are up with record rates, as owners take advantage of the  800 euro tax-free to “lock in” their property to their children before anything changes in the tax landscape.

The AADE data reveal a new reality: a market shifting from the logic of investment to the security of tenure.

According to official data from the AADE for the period January-July 2025, revenues from property transfer taxes stood at €367.43 million, compared to €385.23 million in the same period last year, a 4.6% drop. The downturn was even more pronounced in the first quarter, with receipts from purchase and sale transactions down 17.5% year-on-year in 2024. But the picture changed from May onwards, when transactions picked up again: in the May-July quarter, receipts rose 12% year-on-year, showing that the market is breathing, albeit at a slower pace.

In contrast, transfers through parental transfers and gifts remain on a steady upward trajectory. In the seven months to 2025, receipts from parental transfers, donations, and inheritances amounted to €152.02 million, up from €136.97 million last year, an increase of 11%. The number of transactions on the myProperty online platform already exceeds 120,000 for purchases and sales, 60,000 for parental transfers, and 38,000 for donations, while inheritance tax returns reach 70,000. The trend shows that property “stays in the family” and that the Greek property market is now driven more by need than investment.

Based on data from the Real Estate Transfer Values Register, more than 24,800 properties with a total value of €2.62 billion changed hands in the eight months to 2025. The Municipality of Athens holds the lead with 1,986 sales with a total value of more than 225 million euros, while the most expensive transfers are located in high-demand areas – Glyfada, Vouliagmeni, Vouliagmeni, Voula, Kifissia, PaleoPsychiko, and Filothei. These areas continue to act as a “barometer” of the market, as prices there remain steadily upwards, with increased interest from domestic and foreign buyers.

Despite the decline in trading volume, prices show no inclination to retreat. According to the latest Bank of Greece data, house prices increased by 7.3% in the second quarter of 2025 compared to the same period in 2024. New homes up to five years old rose 6.8%, while older apartments increased even more, by 7.6%. Demand remains strong across all categories, with supply remaining constrained and construction costs keeping the price bar high.

To support the construction sector, the government has extended until the end of 2026 the suspension of 24% VAT on newly built homes and 15% capital gains tax on transfers, giving a “breather” to buyers and builders. However, the market dynamics seem to be moving elsewhere: most people are not investing for yield, but transferring for security.