Greece Achieves Record-Low Fixed Mortgage Rates

Fixed-rate mortgage interest in Greece fell to its lowest level in nine years in February 2026, according to data from the European Central Bank. The average rate for loans with a fixed duration of up to five years dropped to 2.95% from 3.13% in January, breaking the 3% barrier for the first time since early 2017, when ECB borrowing rates were at zero (currently 2.15%).

Greece now ranks as the fifth cheapest country in the eurozone for this popular mortgage category. The eurozone average for fixed-rate loans up to five years stood at 3.37%, with Greece trailing only Malta (1.71%), Portugal (2.72%), Bulgaria(2.90%), and Croatia (2.92%).

At the higher end, the most expensive countries in this category included Latvia (8.41%), Estonia (6.34%), Lithuania(5.94%), and Netherlands and Belgium (3.73% each). Among the three largest eurozone economies, average five-year fixed mortgage rates were 3.63% in Germany, 3.53% in Italy, and 3.31% in France.

After years of negative net flows, Greek mortgage lending returned to positive territory in October 2025. According to the latest data from the Bank of Greece, twelve-month growth in mortgages reached +1.1% in February 2026.

Banks estimate that the average mortgage in Greece exceeds €100,000, while approval rates for applications remain high, surpassing 85% and reaching up to 90%. This reflects both the improved quality of applications and a more informed approach among borrowers toward housing credit.