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Everything you need to know before buying real estate is included in our Greece Property Pack
As we reach mid-2025, Greece's property market offers compelling opportunities for foreign buyers.
Property prices in major Greek cities have risen 7-12% annually since 2023, yet remain 30-40% below most Western European capitals. The market combines strong rental yields of 4-8% with steady capital appreciation prospects.
If you want to go deeper, you can check our pack of documents related to the real estate market in Greece, based on reliable facts and data, not opinions or rumors.
Greece's residential property market in June 2025 remains attractive for foreign buyers, with Athens apartments averaging €2,480/m² and Thessaloniki at €1,970/m².
The Greek government's Golden Visa program continues driving international investment, while new short-term rental restrictions in Athens create opportunities in long-term rentals and emerging neighborhoods.
Factor | Current Status (June 2025) | Outlook |
---|---|---|
Average Athens Prices | €2,480/m² | 3-5% annual growth expected |
Typical Rental Yields | 4-8% | Stable to increasing |
Mortgage Rates | 2.9-3.5% | Relatively stable |
Golden Visa Threshold | €250k-€500k | Location dependent |
Property Transfer Tax | 3.09% | No changes expected |
Foreign Buyer Activity | 35% of transactions | Growing steadily |
Best Value Islands | Corfu, Thassos, Naxos | €1,200-€1,800/m² |

What property types can you actually buy in Greece right now?
Greece offers diverse property options for international buyers in 2025, from compact city apartments to luxurious island villas.
In Athens and Thessaloniki, you'll find modern apartments ranging from €100,000 studios to €1 million penthouses, with the sweet spot for 2-bedroom units around €200,000-€300,000. Traditional stone houses in mountain villages like Pelion or historic areas of Crete start from €150,000 and offer authentic Greek character.
The villa market spans €250,000 countryside properties to €5 million beachfront estates on Mykonos or Santorini. Popular islands like Corfu and Naxos offer better value, with sea-view villas from €400,000-€600,000.
Off-plan developments have surged in popularity, particularly in tourist regions, offering 10-15% pre-completion discounts and customization options. Land plots remain available for those wanting to build, though coastal plots face stricter regulations.
Commercial properties and mixed-use buildings in urban areas attract investors seeking higher yields, while agricultural land with existing olive groves or vineyards appeals to lifestyle buyers.
How do Greek property prices today compare to recent years, and where are they heading?
Greek property prices have experienced significant recovery since the 2010s crisis, with particularly strong growth from 2023 to 2025.
Athens residential prices jumped 7.6% year-on-year to reach €2,480/m² by mid-2025, while Thessaloniki saw even stronger 12.2% growth to €1,970/m². Premium islands command significantly higher prices, with Mykonos and Santorini reaching €4,000-€7,000/m².
Location | 2023 Price/m² | 2025 Price/m² | 2-Year Growth | 2026 Forecast |
---|---|---|---|---|
Athens Center | €2,150 | €2,480 | +15.3% | +3-5% |
Thessaloniki | €1,565 | €1,970 | +25.9% | +4-6% |
Mykonos | €4,800 | €5,500 | +14.6% | +2-4% |
Corfu | €1,350 | €1,500 | +11.1% | +3-5% |
Crete (Chania) | €1,650 | €1,900 | +15.2% | +4-5% |
Rhodes | €1,450 | €1,700 | +17.2% | +3-4% |
Rural Mainland | €750 | €850 | +13.3% | +2-3% |
Looking ahead, most analysts predict Greek property prices will continue rising but at a more moderate 3-5% annually through 2029. Urban regeneration projects in Athens and Thessaloniki, combined with limited housing supply and strong foreign demand, support this outlook.
The market remains significantly undervalued compared to other EU capitals, suggesting room for further growth while avoiding bubble territory.
Should you buy or rent in Greece if you're planning to stay several years?
For anyone planning to stay in Greece beyond 2-3 years, buying clearly beats renting in the current market.
Greek rental prices have skyrocketed, with 68% of residents now considering rents unaffordable. In Athens, average rents consume over 40% of typical salaries, while quality long-term rentals have become scarce due to the short-term rental boom.
Buying offers multiple advantages: mortgage rates remain low at 2.9-3.5%, property prices continue appreciating, and you'll build equity instead of enriching landlords. A €200,000 apartment purchase with 30% down payment results in monthly payments around €650-750, often less than equivalent rent.
Additionally, property ownership provides stability against rent increases and potential Golden Visa benefits for non-EU citizens. The rental shortage means finding quality accommodation becomes increasingly difficult and expensive.
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What are the major trends shaping Greece's property market in 2025?
Five key trends define Greece's real estate landscape as of June 2025.
International buyers, particularly from the US, Germany, and China, now account for 35% of transactions, driven largely by the Golden Visa program. These investors target both rental properties and lifestyle purchases, pushing demand in premium locations.
Urban regeneration transforms Athens and Thessaloniki, with new metro lines, pedestrianized areas, and infrastructure upgrades boosting property values in previously overlooked neighborhoods. Areas like Exarchia and Neos Kosmos have seen 20-30% price increases.
Luxury coastal properties experience unprecedented demand, with bookings up 29% year-on-year. Wealthy buyers seek beachfront villas as second homes or rental investments, particularly on less-touristy islands offering privacy and authenticity.
New short-term rental restrictions in central Athens, including higher taxes and permit requirements, shift investor focus toward long-term rentals and properties outside restricted zones. This creates opportunities in emerging neighborhoods and secondary cities.
Sustainability becomes crucial, with energy-efficient properties commanding 10-15% premiums. Buyers increasingly demand solar panels, efficient heating/cooling systems, and green certifications.
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What's the step-by-step process for foreigners buying Greek property?
The Greek property purchase process typically takes 15-30 days once you've found your property.
- Obtain Greek Tax Number (AFM): Visit the local tax office with your passport. Takes 1-2 hours, costs nothing.
- Hire a Greek Lawyer: Essential for protecting your interests. Fees typically 1-1.5% of purchase price.
- Open Greek Bank Account: Required for fund transfers and tax payments. Bring passport, AFM, and proof of address.
- Make Property Offer: Your agent negotiates terms. Greeks expect negotiation - offer 5-10% below asking price.
- Sign Preliminary Agreement (Optional): Secures property with 10% deposit. Lawyer reviews all terms.
- Conduct Due Diligence: Lawyer checks title, permits, debts, and planning restrictions. Critical step taking 5-10 days.
- Arrange Financing: If needed, Greek banks offer up to 70% financing for EU citizens.
- Final Contract at Notary: All parties meet to sign deed. Buyer pays balance plus taxes and fees.
- Register Ownership: Notary registers transfer at Land Registry. You receive official title.
- Declare for Taxes: Register for annual property tax (ENFIA) and declare any rental income.
Total costs beyond purchase price include 3.09% transfer tax, 0.5-1% notary fees, 1-1.5% legal fees, and 2-3% agent commission.
Where should you search for properties - agencies or other options?
For foreign buyers, working with a reputable real estate agency remains the safest and most efficient approach.
Major online portals like Spitogatos, XE.gr, and Tospitimou offer extensive listings but require Greek language skills and local knowledge to navigate effectively. These platforms work best for initial research rather than actual purchasing.
International agencies like Engel & Völkers or local specialists such as Elxis provide full-service support including property tours, legal coordination, and translation services. They typically charge 2-3% commission but save time and prevent costly mistakes.
Direct purchases from owners can save commission but carry higher risks. Without agent protection, foreign buyers face potential fraud, hidden issues, or legal complications.
For the best results, research online to understand the market, then engage a licensed agent who speaks your language and has proven experience with international clients. Verify their credentials through the Greek Real Estate Federation.
What can different budgets buy you across Greece?
Your property options in Greece vary dramatically based on budget and location preferences.
With €100,000-€150,000, you'll find small apartments in up-and-coming Athens neighborhoods, studios in Thessaloniki, or traditional village houses needing renovation on islands like Thassos or Evia. This budget won't reach premium locations but offers entry into the Greek market.
The €200,000-€300,000 range opens quality 2-bedroom apartments in good Athens areas, modern units in Thessaloniki, or small villas on affordable islands like Corfu or Crete. This represents the sweet spot for many international buyers seeking rental properties.
At €400,000-€600,000, expect spacious Athens apartments in prime neighborhoods, new-build villas with pools on most islands, or premium coastal properties on the mainland. This budget provides genuine lifestyle upgrade potential.
Above €1 million, luxury beckons: penthouses with Acropolis views, beachfront villas on Mykonos, or estates with extensive grounds. These properties offer prestige and strong rental potential but lower percentage yields.
It's something we develop in our Greece property pack.

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.
Which Greek locations offer the best investment value - affordable, emerging, or upscale?
Greece's property market segments into three distinct investment categories, each with specific advantages and challenges.
Affordable areas like Kypseli in Athens, rural Thessaloniki suburbs, and islands like Thassos or Evia offer entry-level prices from €800-€1,200/m². These locations provide high rental yields of 6-8% and strong gentrification potential but may require renovation and lack immediate amenities.
Up-and-coming neighborhoods represent the sweet spot for many investors. Athens areas like Exarchia, Neos Kosmos, and Gazi combine reasonable prices (€1,500-€2,500/m²) with rapid appreciation potential. Infrastructure improvements and urban renewal projects drive 10-15% annual growth.
Upscale locations including Kolonaki, Glyfada, the Athens Riviera, Mykonos, and Santorini command premium prices above €3,000/m². These areas offer prestige, stable values, and strong rental demand but lower yields around 3-4% and high entry costs.
For balanced returns, emerging neighborhoods near transport links or undergoing regeneration offer the best risk-reward ratio. Coastal suburbs and secondary islands provide lifestyle benefits with investment upside.
What mistakes do buyers commonly make in Greece, and how can you avoid them?
Foreign buyers in Greece face several serious pitfalls that can cost thousands or derail purchases entirely.
Common Mistake | Consequences | Prevention Strategy |
---|---|---|
Using unlicensed agents | Fraud, lost deposits | Verify credentials with Greek Real Estate Federation |
Skipping legal due diligence | Hidden debts, invalid titles | Hire independent Greek lawyer, never use seller's |
Buying illegal builds | Demolition orders, unsellable | Check building permits and Land Registry |
Ignoring tax obligations | Fines, legal issues | Register immediately for ENFIA, declare all income |
Trusting cosmetic renovations | Major hidden defects | Arrange professional inspection |
Archaeological restrictions | Cannot renovate or develop | Check proximity to protected sites |
Misrepresented plot sizes | Overpaying, building issues | Verify boundaries with official survey |
The golden rule: never proceed without an independent Greek lawyer who specializes in property law. Their fees (1-1.5% of purchase price) prevent catastrophic mistakes that could cost your entire investment.
What's the real cost of living in Greece if you buy property there?
Living costs in Greece remain moderate compared to Western Europe, though rising in popular areas.
Property owners face annual ENFIA tax ranging from €300-€2,000 depending on location and size. Utilities for a typical 80m² apartment run €100-€200 monthly, higher in summer with air conditioning use.
Daily expenses stay reasonable: groceries cost €200-€350 monthly per person, with local markets offering fresh produce at excellent prices. Restaurant meals range €10-€20 at tavernas, while coffee culture thrives with €2-€4 cappuccinos.
Transportation varies by location - Athens offers extensive public transport at €30 monthly passes, while island living typically requires a car. Fuel costs around €1.80/liter.
Healthcare through the public system comes free with residency, though many expats prefer private insurance at €50-€150 monthly for comprehensive coverage.
Overall, a comfortable lifestyle in Athens requires €1,200-€2,000 monthly excluding housing, while island living can be cheaper or pricier depending on tourist development.
What's expat life really like in Greece - culture, laws, and lifestyle?
Greece offers a Mediterranean lifestyle that attracts thousands of international residents annually.
The culture emphasizes family, food, and relaxation - expect long lunches, late dinners, and a more flexible approach to time. Greeks are notably welcoming to foreigners, with English widely spoken in cities and tourist areas, though learning basic Greek enhances integration.
EU citizens enjoy freedom of movement and can live in Greece indefinitely. Non-EU buyers can obtain residency through the Golden Visa program with property investments from €250,000 (rising to €500,000 in prime areas). This provides five-year renewable residency for the entire family.
The lifestyle revolves around outdoor living - beach clubs, mountain hiking, archaeological sites, and vibrant café culture. Winters are mild, summers hot but tempered by sea breezes. The pace is notably slower than Northern Europe or North America.
Bureaucracy remains challenging, with processes often requiring patience and persistence. Banking, utilities, and official procedures move slowly. However, the rewards include 300+ sunny days annually, fresh Mediterranean cuisine, and a strong sense of community.
For rental investment, which areas work best and what returns can you expect?
Greece's rental market offers strong returns, particularly in tourist destinations and student cities.
Athens city center attracts diverse tenants - tourists, digital nomads, and young professionals - generating yields of 5-7% on furnished apartments. Student areas near universities in Athens and Thessaloniki provide steady 6-8% returns with reliable September-June occupancy.
Island properties excel in seasonal rentals. Mykonos and Santorini command €200-€500 per night in summer but face winter vacancy. More balanced options like Crete, Rhodes, and Corfu achieve 70-80% annual occupancy mixing tourists with longer winter lets.
Emerging neighborhoods offer the highest yields. Areas undergoing gentrification like Metaxourgeio in Athens or Kalamaria in Thessaloniki can achieve 7-9% gross returns, though require active management.
Monthly rental rates average €14/m² in the Cyclades, reaching €20/m² in premium Athens areas like Vouliagmeni. Factor in 15-24% income tax on rental profits, property management fees of 15-20% for short-term lets, and annual ENFIA property tax.
New regulations limiting short-term rentals in central Athens push investors toward long-term strategies or alternative locations, creating opportunities in previously overlooked areas.
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.
Greece's property market in mid-2025 presents a compelling opportunity for international buyers seeking value, lifestyle, and investment returns.
With prices still 30-40% below Western European levels, continued growth prospects, and diverse options from €100,000 village houses to luxury island villas, the market accommodates various budgets and goals. Success requires proper legal guidance, realistic expectations, and careful area selection based on your specific needs.
Sources
- Properstar - Greece Real Estate Guide
- Global Property Guide - Greece Price History
- Investropa - Greece Property Buying Guide
- Vista Estate - Greece Real Estate Trends 2025
- Greek Exclusive Properties - Buying Guide 2025
- The Luxury Playbook - Common Pitfalls in Greek Property
- Elxis - Ultimate Home Buying Guide Greece
- Global Citizen Solutions - Greece Property Investment
- NTL Trust - Greece Property Market Guide
- Benoit Properties - Greece Housing Trends 2025