The last decade brought in the Greek real estate market radical changes due to a number of factors

The last decade brought in the Greek real estate market radical changes due to a number of factors that shaped the supply and demand of available housing options as well as the budget required for their acquisition.

The construction cost is calculated from the sum of individual parameters, but those that mainly shape it are the following two:
• The cost of construction materials
• The labor / wage cost

According to the General Construction Materials Price Index of the Hellenic Statistical Authority (ELSTAT), in July 2026 an annual increase of 4.8% was observed compared to the corresponding month of 2025, indicating an acceleration of the growth rate compared to the +2.9% that had occurred in the corresponding period last year.

Likewise for the Wage Cost Index, an increase of 6.4% is recorded in the first quarter of 2026 compared to the corresponding quarter of 2025 and 2024, according to ELSTAT. So in the case of labor costs as well, an acceleration of the growth rate is observed, with no tangible reasons on the horizon for it to stop.

Taking all this into account, to the question that concerns many people "should I build now or wait?" the short answer is that if you have the financial capacity and readiness, it is better to start now since the strategy of waiting for the prices to fall in the construction sector does not seem to be justified.

By building today, you lock in construction costs at current levels and clearly avoid inflation in the coming years, which will certainly increase the total budget of your investment. Furthermore, over time, stricter and ultimately more costly energy criteria are legislated for the issuance of building permits, resulting in a further increase in total construction costs.

If you are processing all of the above, we will be happy to support you in this journey