Hundreds of islands and lots of opportunities

The Greek DIY and home improvement market is currently at a decisive crossroads. Despite global challenges in the economic and energy landscape, the sector is being driven by three powerful growth engines: tourism, which increases demand for renovations and upgrades; the renewal of the residential building stock, with an emphasis on energy efficiency and aesthetic improvements; and steady investment flows, from both domestic and international stakeholders.

The overall outlook highlights an ecosystem ready to evolve into an investment hub for DIY and home improvement in Southeast Europe and the Mediterranean. Greece’s key competitive advantages include a well-developed domestic industrial foundation offering high-quality products with export potential, a strategic geographic position with easy access to the markets of three continents (Europe, Asia, Africa) and economic and political stability that fosters confidence among international investors.

The Greek consumer

The post-Covid-19 era has radically reshaped the relationship Greeks have with their homes. The home has become the centre of daily life once again, with an emphasis on creating a high-quality, comfortable, and functional environment. There is a growing interest in DIY solutions, small-scale interventions, and creative applications.

This is also influenced by the shortage of professional tradespeople in the market. Consumers are increasingly sensitive to issues of energy consumption and sustainability, particularly in the context of rising living costs. As a result, they are opting for small, targeted renovation or energy efficiency upgrades that aim to deliver long-term energy savings. At the same time, there is growing interest in value-for-money products, as well as smart automation and tech-based solutions.

Islands and mountainous areas require specialized products that are resistant to climatic conditions, which directly affects distribution and logistics. Two of the most significant obstacles to renovations are the high cost of materials (up by 11.8 per cent over the past two years) and hesitation due to a lack of knowledge.

The steady rise in construction activity and the increased demand for tourist properties, vacation homes, and short-term rentals (Airbnb) are consistently boosting the sector. According to recent data, construction activity is increasing steadily, with an annual growth rate of 5 to 7 per cent. Approximately 60 per cent of new real estate investments are related to tourism…