Authored by the expert who managed and guided the team behind the Greece Property Pack
Yes, the analysis of Athens' property market is included in our pack
Athens presents compelling opportunities for property investment in 2025, with strong price appreciation of 7.6% in Q1 2025 and rental yields reaching 6-9% in central areas.
The Greek capital offers diverse property options from historic apartments to luxury coastal developments, supported by robust foreign investment through the Golden Visa program and infrastructure projects like the €8 billion Ellinikon development. Whether you're seeking investment returns or lifestyle relocation, Athens combines European accessibility with Mediterranean charm at competitive prices compared to other major European capitals.
If you want to go deeper, you can check our pack of documents related to the real estate market in Athens, based on reliable facts and data, not opinions or rumors.
Athens property market shows strong fundamentals with 7.6% price growth in Q1 2025, driven by foreign investment and infrastructure development.
The city offers excellent rental yields (6-9% gross) with diverse property types from €100K apartments to €500K+ luxury homes, supported by Golden Visa investment and growing expat community.
| Investment Factor | Current Status (2025) | Investment Rating |
|---|---|---|
| Price Growth | 7.6% year-over-year Q1 2025 | Strong |
| Rental Yields | 6-9% gross in central areas | Excellent |
| Foreign Investment | 40% of buyers are foreigners | Very Strong |
| Average Price per sqm | €2,480 (central €2,900+) | Competitive |
| Golden Visa Access | €800K minimum in Athens | Available |
| Market Liquidity | 3.9% vacancy rate | High Demand |
| Infrastructure Investment | €8B Ellinikon project ongoing | Transformative |
What kind of properties can you actually buy in Athens in 2025—like apartments, houses, new developments, or older places?
Athens offers a comprehensive range of property types to suit different budgets and investment strategies in 2025.
Apartments dominate the market, ranging from compact studios in emerging neighborhoods to spacious three-bedroom units in prestigious areas like Kolonaki and Glyfada. Most apartments are found in buildings from the 1960s-1980s, though new developments are increasing, particularly in coastal areas.
Houses and villas are primarily located in upscale suburbs such as Kifisia, Glyfada, and Voula, often featuring gardens, pools, and luxury amenities. These properties typically command premium prices but offer excellent lifestyle benefits and strong appreciation potential.
New developments are concentrated in the southern suburbs, especially around the Ellinikon megaproject area, offering modern amenities, energy efficiency, and smart-home features. These properties often attract Golden Visa investors seeking contemporary living standards.
Older properties, particularly in central Athens, present renovation opportunities with significant upside potential, though they require careful due diligence regarding structural condition and legal compliance.
Is it smarter to buy or rent in Athens right now, considering lifestyle and financial pros and cons?
Buying property in Athens is generally more advantageous than renting for both investors and long-term residents in 2025.
The financial case for buying is compelling: property prices have appreciated 7.6% year-over-year in Q1 2025, while rental yields of 6-9% in central areas provide strong income potential. The price-to-rent ratio of 21 years suggests buying offers better long-term value than renting.
Buying benefits include access to the Golden Visa program for non-EU investors (minimum €800,000 in Athens), protection against inflation through real estate ownership, and potential capital appreciation as infrastructure projects like Ellinikon develop.
However, buying requires significant upfront costs including 7-10% in taxes and fees, plus ongoing property taxes (ENFIA) and maintenance responsibilities. The transaction process can take 3-6 months and involves complex bureaucracy.
Renting offers flexibility and lower upfront commitment but exposes you to rising rental costs—rents have increased significantly in central and trendy districts as supply remains tight with only 3.9% vacancy rates.
How have property prices in Athens changed over the past few years, and what are they forecasted to do in 2025?
Athens property prices have shown remarkable resilience and growth, transforming from post-crisis lows to a robust upward trajectory.
From 2018-2022, prices rose 32-35% as foreign investment returned and infrastructure improved. The momentum continued with 7-9% annual growth in 2023-2024, driven by Golden Visa investors, tourism recovery, and limited housing supply.
As of mid-2025, average prices in Athens reach €2,480 per square meter, with central neighborhoods like Koukaki and Pangrati exceeding €2,900 per square meter. Premium areas like Kolonaki and Glyfada command €4,000-€5,000+ per square meter.
Price forecasts for 2025 predict continued growth of 4-7%, though at a more moderate pace as the market matures. The southern suburbs are experiencing the strongest appreciation, with a notable 14% increase due to the Ellinikon development and improved infrastructure.
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What are the key trends in the real estate market in Athens—who's buying, what's being built, and what's in demand?
The Athens real estate market in 2025 is characterized by strong international demand, urban regeneration, and shifting housing preferences.
Foreign buyers represent nearly 40% of purchases, primarily from EU countries, China, and the Middle East, attracted by Golden Visa opportunities and lifestyle benefits. Chinese investors alone channeled €2.6 billion through the program in 2023, with an 11% increase in permits by 2024.
New construction focuses on luxury apartments, serviced residences, and mixed-use developments, particularly in coastal areas and around major infrastructure projects. The €8 billion Ellinikon megaproject is creating an entirely new luxury district on the Athens Riviera.
High-demand properties include renovated city-center apartments near metro stations, energy-efficient new builds, and properties suitable for short-term rentals despite regulatory restrictions. Areas like Koukaki saw 800% growth in Airbnb bookings, while neighborhoods like Exarchia benefit from urban renewal projects.
The market also shows growing interest in commercial-to-residential conversions, which qualify for reduced Golden Visa thresholds of €250,000, and restoration of listed buildings with cultural significance.
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What's the full step-by-step process of buying property in Athens, especially as a foreigner?
Purchasing property in Athens as a foreigner follows a structured but complex process requiring professional guidance and patience.
First, obtain a Greek Tax Number (AFM) from the tax office, which is mandatory for all property transactions. Non-EU buyers should also open a Greek bank account to facilitate the purchase process and demonstrate financial capability.
Engage a qualified Greek lawyer experienced in real estate transactions to handle due diligence, title searches, and legal compliance. This step is crucial as Greek property law can be complex, especially regarding archaeological restrictions and building permits.
Once you've identified a property through agents or online platforms, make a formal offer and sign a preliminary agreement with a deposit (typically 10-20% of purchase price). Your lawyer will conduct thorough due diligence including title verification, building permits, and tax clearance certificates.
The final contract signing occurs before a notary public, where you'll pay the remaining balance plus all applicable taxes and fees. The property must then be registered at the Land Registry to complete legal ownership transfer.
Finally, arrange utility transfers, fulfill tax obligations including ENFIA property tax registration, and obtain any necessary permits for renovations or rental activities. The entire process typically takes 3-6 months from initial offer to completion.
Where do you go to actually find property—reliable real estate agencies, websites, or local connections?
Athens offers multiple channels for property search, from established agencies to digital platforms and local networks.
Top real estate agencies include international firms like Savills, Engel & Völkers, and Von Poll Real Estate, which offer comprehensive services for foreign investors, plus local specialists like Golden Home, Atria, and Infinity that provide deep market knowledge and Greek-language support.
The most popular property websites are Spitogatos.gr and XE.gr for comprehensive listings, while international platforms like Rightmove, Properstar, and Holprop cater to foreign buyers with English-language interfaces and filtering options.
Local connections through expatriate communities, lawyers, and relocation consultants can provide access to off-market properties and insider knowledge. Many of the best deals never reach public listings, making local networks invaluable.
Professional property search services and buyer's agents can streamline the process, particularly for investors seeking specific criteria like Golden Visa compliance, renovation potential, or high rental yields in target neighborhoods.
What can you realistically expect to get in each budget range—say under €100K, €250K, €500K, or more?
Athens property market offers options across all budget levels, though location and condition vary significantly by price point.
| Budget Range | Property Type & Size | Location & Condition |
|---|---|---|
| Under €100,000 | 1-2 bedroom apartments (50-70 sqm) | Emerging areas like Kypseli, Nea Smyrni; often needs renovation |
| €100,000-€250,000 | Renovated 1-2 bedroom (60-90 sqm) | Central neighborhoods like Pangrati, Exarchia; good condition |
| €250,000-€500,000 | Larger apartments (100-130 sqm) or small houses | Good suburbs like Marousi, Chalandri; Golden Visa eligible |
| €500,000+ | Luxury apartments, penthouses, villas | Prime locations: Kolonaki, Glyfada, Athens Riviera |
| €800,000+ | Premium properties with sea views | Coastal luxury: Vouliagmeni, Voula; Golden Visa compliant |
| €1,000,000+ | Luxury villas with pools and gardens | Exclusive suburbs: Kifisia, Psychiko; exceptional amenities |
| €1,500,000+ | Exceptional properties and new developments | Ellinikon project area; ultra-modern with premium features |
What are the most common and costly mistakes buyers make when purchasing property in Athens?
Property buyers in Athens face several potential pitfalls that can result in significant financial losses or legal complications.
The most critical mistake is proceeding without qualified legal representation. Greek property law includes complex regulations regarding archaeological zones, building permits, and title issues that require expert navigation. Unresolved title deeds from past ownership changes can create major problems.
Inadequate due diligence represents another major risk. Properties may have hidden structural problems, unpaid taxes, or building code violations. Some buyers fall for superficial renovations that mask serious issues requiring expensive repairs.
Underestimating total costs is common—transaction taxes, legal fees, and ongoing property taxes (ENFIA) can add 15-20% to the purchase price. VAT on new builds and renovation costs often exceed initial budgets.
Location-specific mistakes include buying in areas with development restrictions, archaeological significance, or limited resale liquidity. Some foreign buyers overpay in neighborhoods driven primarily by short-term rental demand without considering long-term market fundamentals.
Golden Visa investors sometimes misunderstand program requirements, purchasing properties that don't qualify or failing to maintain the investment as required for permit renewal.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Greece versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.
What's the overall cost of living in Athens in 2025—utilities, food, transport—especially if you own property?
Athens offers a relatively affordable cost of living compared to other European capitals, making property ownership particularly attractive for international buyers.
Monthly utility costs for property owners average €150-€250, including electricity, water, gas, and building maintenance fees. Internet and cable services add €25-€40 monthly. Property taxes (ENFIA) vary by value and location but benefit from discounts for insured properties.
Food costs remain reasonable with grocery expenses of €250-€400 monthly for a single person, or €600-€800 for a family of four. Athens offers excellent dining options from €10-€25 per meal at mid-range restaurants, with abundant fresh local produce at weekly markets.
Transportation is excellent value with monthly public transport passes at €30, providing access to metro, buses, and trams throughout the city. Taxis and ride-sharing are affordable for occasional use, while many central areas are highly walkable.
Total monthly living costs for a single person average €1,600-€1,800 excluding mortgage payments, while families typically spend €3,400-€3,800 monthly. Healthcare costs are reasonable, with both public and private options available.
Which areas of Athens are considered affordable, up-and-coming, or upscale—and what are the pros and cons of each?
Athens neighborhoods offer distinct investment profiles from affordable emerging areas to established luxury districts.
Affordable and up-and-coming areas include Kypseli, Metaxourgio, and Nea Smyrni, where prices range €800-€1,500 per square meter. These neighborhoods offer strong rental yields and appreciation potential as urban renewal projects progress, though they may require renovation and have less established infrastructure.
Central trendy areas like Koukaki, Pangrati, and Exarchia command €2,200-€2,900 per square meter, offering excellent walkability, metro access, and strong rental demand from young professionals and tourists. However, competition is intense and prices are rising rapidly.
Upscale coastal suburbs including Glyfada, Voula, and Vouliagmeni range €3,000-€6,000+ per square meter, providing luxury living, sea access, and international schools. These areas offer lifestyle benefits and strong Golden Visa investment potential but require higher capital commitment and may have lower rental yields.
Family-friendly suburban areas like Chalandri, Marousi, and Kifisia offer good value at €1,800-€3,500 per square meter with excellent schools, green spaces, and metro connections, though they're farther from central attractions.
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What's life like as an expat in Athens—things like community, safety, bureaucracy, and ease of settling in?
Athens offers an welcoming environment for international residents, though navigation requires patience and local knowledge.
The expatriate community is large and diverse, with active social groups, international schools, and English-speaking services throughout the city. Many neighborhoods like Kolonaki, Glyfada, and central areas have significant international populations, making integration easier.
Safety is generally excellent, particularly in upscale and suburban areas. Central tourist zones experience typical urban issues like pickpocketing, but violent crime is rare. Neighborhoods like Kifisia, Glyfada, and Psychiko are extremely safe with strong community feeling.
Bureaucracy remains challenging but manageable with proper preparation. Having a local lawyer and accountant is essential for property transactions, tax compliance, and permit applications. English is widely spoken in real estate and professional services, though Greek language skills improve daily life significantly.
Cultural adaptation is generally positive, with Greeks being welcoming to foreign residents who show respect for local customs. The Mediterranean lifestyle, excellent food scene, and rich cultural heritage provide exceptional quality of life, while Athens' position as a transportation hub offers easy access to Europe and the Middle East.
If you want to rent out long-term, which neighborhoods should you target, what kind of tenants are looking, and what rental income and yields can you expect?
Athens' rental market offers strong opportunities across different neighborhood types and tenant demographics.
Prime rental neighborhoods include central areas like Koukaki (€700/month for one-bedroom), Pangrati (€780-€850 for two-bedroom), and Neos Kosmos (€450/month for studios), which attract young professionals, digital nomads, and students with excellent metro access and urban amenities.
Coastal suburbs like Glyfada command premium rents (€1,400/month for three-bedroom sea-view apartments) from expatriate families, diplomats, and high-income professionals seeking luxury living with international schools and beach access.
University areas including Zografou and surrounding neighborhoods provide steady demand from students and academic staff, though rental rates are more modest but reliable throughout the academic year.
Rental yields vary significantly by location and property type: central renovated apartments achieve 6-9% gross yields, while suburban properties average 4.5-6% annually. Smaller apartments typically generate higher yields than larger properties due to strong demand from single professionals and couples.
The rental market benefits from low vacancy rates (3.9% citywide) and strong tenant diversity including students, young professionals, expatriates, and families, providing income stability across different economic cycles.
It's something we develop in our Greece property pack.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Athens presents a compelling property investment opportunity in 2025, combining strong fundamentals with European accessibility and Mediterranean lifestyle benefits.
The market's robust price appreciation, excellent rental yields, and infrastructure development create favorable conditions for both investors and residents, though success requires careful neighborhood selection and professional guidance throughout the purchase process.
Sources
- Athens Real Estate Market Overview & Forecast 2025 - The Luxury Playbook
- 17 Strong Trends for 2025 in the Athens Property Market - Investropa
- Greece's Residential Property Market Analysis 2025 - Global Property Guide
- Real Estate Market in Athens: Property Prices in 2025 by Region and Suburb
- Greece Golden Visa: A Comprehensive Guide for Residency by Investment 2025
- Greece Golden Visa: The Ultimate Guide 2025
- Greece Golden Visa Program 2025 — Greek Residency by Investment
- Rental Yields in Athens - Global Property Guide
- 10 Hottest Real Estate Areas in Athens in 2025 - Investropa
- Greece Housing Market Trends: What's in Store for 2025 - Benoit Properties
- Cost of Living in Athens - Numbeo
- Find the Top Neighborhoods in Athens to Invest in Real Estate