Property prices on Karpathos are higher than many buyers expect. Greece is not a cheap country to buy a house in anymore, and Karpathos is more expensive than many other places. Below we explain what houses and plots cost today, why prices are high and what you can realistically find for your budget.

This article reflects the market in October 2026.

How prices in Greece have developed

House prices in Greece have risen every year for some time now. According to the Bank of Greece, apartment prices in the first quarter of 2026 were 5.7% higher than a year earlier. The IMF calculated that asking prices for homes in Greece rose about 85% between 2016 and 2026.

On the islands prices are higher than on the mainland. According to Spitogatos, the largest property portal in Greece, the average asking price on the Greek islands was €2,941 per m² in the second quarter of 2026, 5.9% more than a year earlier. On Crete it was €2,250 per m². There are no separate official figures for Karpathos. In our experience, existing houses on Karpathos often cost more per m² than on other islands.

What we see on Karpathos

In the mountain villages, old village houses sell for around €1,000 per m², often with work to do. Building a new house currently costs around €2,500 per m² including the land, and more by the sea or with a pool and luxury finishes. A plot further from the coast can cost €50,000 to €100,000. Close to the sea it gets more expensive: a plot of 4,000 m² at 400 m from the sea, with a building permit for 200 m² and a good view, costs around €250,000.

We notice that many buyers expect a nice house right by the sea for up to €200,000. On Karpathos that is not realistic. Even finding something for €150,000 is hard. If you do, it is usually a house that needs renovation, and it won't be by the sea.

Why are houses on Karpathos so expensive?

There are a few reasons. There is little for sale, especially inside the villages, and outside the villages you can't build everywhere. Many sellers are in no hurry. The house or land has often been in the family for a long time, there is no mortgage on it and so there is no pressure to sell. When several heirs have to agree, a price easily stays high.

Building has also become a lot more expensive. A new house now costs around €2,500 per m² including the land, and more on an island than on the mainland, because a lot of material and many builders come by ferry. That pushes up the price of existing houses as well.

Sellers also look at each other. If one house in the village is listed at a high price, the neighbours often ask the same, even if that house has been for sale for years. That is why land and old houses often stay on the market for a long time.

Is there room to negotiate?

Often, yes. Look at what actually sells, not only at the asking price. Houses that have been for sale for a long time usually leave room for a lower offer. Keep in mind that you pay around 10% on top of the price for taxes, notary, land registry and a lawyer. We explain these costs in how to buy property on Karpathos.

What to look at for your budget

• Old village houses in the mountains: around €1,000 per m², but count on renovation costs.
• Renovated or newer houses in or near a village: more expensive, but ready to live in.
• Plots: €50,000 to €100,000 away from the coast, around €250,000 near the sea with a building permit.
• Villas with a sea view: the top of the market.

Where you look also makes a difference. We compare the villages in where to buy a house on Karpathos. The current asking prices are on our properties page.

Frequently asked questions

How much does a house cost on Karpathos?

That depends a lot on the location and condition. A nice house right by the sea for under €200,000 is not realistic. For €150,000 you usually find a house that needs work, away from the sea. Old village houses in the mountains sell for around €1,000 per m².

Are property prices on Karpathos going up?

Prices in Greece rose 5.7% in a year according to the Bank of Greece, and on the islands asking prices rose 5.9%. On Karpathos the supply is small and building is expensive, so we don't expect prices to drop.

Why are houses on Karpathos more expensive than on other islands?

There is little for sale, building is expensive on an island and many sellers are in no hurry to sell.

What does a building plot by the sea cost on Karpathos?

Plots further from the coast can cost €50,000 to €100,000. Close to the sea, with a building permit and a good view, count on around €250,000.