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Everything you need to know before buying real estate is included in our Greece Property Pack
Greece's residential property market continues to attract significant attention from both local and international buyers in 2025. With recent regulatory changes, evolving mortgage conditions, and shifting market dynamics, potential buyers need current information to make informed decisions.
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.
| Factor | Status | Does it make it a good time to buy? |
|---|---|---|
| Property Prices | Rising but still below EU averages | ✓ Yes - Room for growth |
| Mortgage Rates | 2.9-3.5% fixed rates | ✓ Yes - Historically favorable |
| Rental Yields | 4-8% average returns | ✓ Yes - Above EU average |
| Market Supply | Tight inventory, seller's market | ⚠️ Mixed - Act quickly |
| Infrastructure | Major projects underway | ✓ Yes - Value appreciation expected |
| Economic Outlook | 2.0-2.3% GDP growth | ✓ Yes - Stable growth trajectory |
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.
Are current property prices in Greece offering good opportunities for buyers?
Property prices in Greece today present mixed opportunities depending on your investment goals and target location.
In Athens, prices have risen 7.6% year-over-year to €2,480 per square meter, while Thessaloniki has seen even stronger growth at 12.2%, reaching €1,970 per square meter. Despite this growth, Greek property remains significantly more affordable than comparable European markets.
For perspective, a two-bedroom apartment in central Athens costs €170,000-€230,000, while similar properties in Paris or London would cost three to four times more. The Greek islands show wider price variations, from €3,000 per square meter in developing areas to over €7,000 in premium locations like Mykonos and Santorini.
Budget-conscious buyers can still find opportunities in up-and-coming Athens neighborhoods like Kypseli and Acharnon, where prices range from €1,000-€1,500 per square meter with rental yields reaching 7-8%.
Overall, while prices have recovered from crisis lows, Greece still offers value compared to other European destinations, particularly for buyers seeking rental income or long-term appreciation.
As of today, is there more demand from buyers or sellers in the Greek real estate market?
The Greek property market in June 2025 clearly favors sellers, with demand significantly outpacing supply across all major markets.
Athens recorded over 12,000 transactions in Q1 2025 alone, with 40% involving foreign buyers. Inventory remains tight, particularly for renovated, rental-ready properties which typically sell within 60-90 days in Athens and just 45-60 days in Thessaloniki.
This seller's market is most pronounced in central Athens neighborhoods (Exarchia, Koukaki, Pangrati), Thessaloniki's prime districts (Ano Poli, Vardaris), popular tourist islands (Mykonos, Santorini, Paros), properties suitable for short-term rentals, and units qualifying for Golden Visa investments.
The supply shortage has intensified following the Golden Visa threshold increases, as investors rushed to purchase before the changes took effect, further depleting available inventory. This creates challenging conditions for buyers who must act quickly and decisively when suitable properties appear.
Market experts expect this imbalance to persist through 2025, though new construction projects may gradually ease supply constraints by 2026-2027.
What are the short-term and long-term price forecasts for properties in Greece?
Short-term forecasts for the remainder of 2025 indicate continued but moderating price growth across Greek markets.
Athens property prices are expected to rise another 5-7% through year-end, while Thessaloniki may see 8-10% gains. The Greek islands show more varied projections, with 3-7% growth expected depending on location and property type.
| Timeframe | Price Growth Projection | Key Drivers |
|---|---|---|
| 2025 (remaining) | 5-10% | Ongoing supply shortage, infrastructure projects, stable tourism |
| 2026 | 4-8% | Ellinikon development impact, Metro Line 4 completion, GDP growth |
| 2027 | 3-6% | Market stabilization, increased supply from new developments |
| 2028-2030 | 2-4% annually | Convergence with EU average growth rates |
The completion of major infrastructure projects, particularly the €8.5 billion Ellinikon megaproject and Athens Metro Line 4, will likely sustain price appreciation in connected areas through 2027.
Long-term stability appears assured as Greece's economy continues strengthening and foreign investment remains robust.
Are current mortgage rates favorable for property buyers in Greece today?
Mortgage conditions in Greece as of June 2025 are historically favorable, though they vary significantly based on buyer residency status.
Fixed rates for non-residents start at 2.9% for three-year terms, with standard rates ranging from 3.2-3.5%. These rates compare favorably to the 4-5% rates common in many European markets. EU citizens can access up to 70% loan-to-value ratios with 30% down payments, while non-EU citizens typically face 50-65% LTV maximums requiring 35-50% down payments.
Loan terms extend up to 25 years for EU citizens but are typically limited to 15 years for non-EU buyers. Processing times average 30-45 days with complete documentation, and remote applications are increasingly available through major Greek banks.
Greek banks have stabilized significantly, with non-performing loan ratios down to 3% and improved capital adequacy, making them more willing to lend to qualified foreign buyers. This improved banking environment, combined with competitive rates, creates favorable financing conditions.
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What types of properties offer the best value in Greece today?
The best value properties in Greece today vary significantly based on investment objectives and risk tolerance.
For rental income seekers, studio and one-bedroom apartments in Athens' Kypseli and Acharnon districts (€80,000-€120,000) offer yields of 6-8%. Two-bedroom units near Thessaloniki universities (€100,000-€150,000) attract steady student demand, while renovated traditional houses on lesser-known islands like Naxos or Paros provide strong tourist rental potential.
Properties near new Metro Line 4 stations in Athens represent excellent value given expected appreciation, as do commercial-to-residential conversions qualifying for the €250,000 Golden Visa threshold.
For capital appreciation focus, properties within 2km of the Ellinikon development (current prices €3,000-€4,000/sqm) offer significant upside. Thessaloniki city center apartments continue showing strong 12.2% annual growth, while coastal properties in emerging Crete locations and heritage building renovations in historic districts provide both charm and appreciation potential.
The key is matching property type to investment strategy while considering location fundamentals and infrastructure developments.
Are Greek properties regarded as safe investments today?
Greek property investments in 2025 benefit from multiple safety factors that make them increasingly attractive to international investors.
The country's GDP is projected to grow 2.0-2.3% annually through 2026, outpacing the eurozone average. Inflation has moderated to 2.0-2.9%, approaching ECB targets, while the banking system has strengthened considerably with non-performing loans reduced to just 3% of portfolios.
Investment safety is reinforced by currency stability within the eurozone, eliminating devaluation risks that plagued Greece during the debt crisis. The EU legal framework fully protects property rights, while political stability under a pro-investment government encourages foreign capital. Tourism has reached record levels, supporting rental income potential, and the resale market remains liquid with growing demand.
The main risks remain concentrated in border regions requiring special permits and potential oversupply in some tourist areas once current supply constraints ease. However, for mainstream residential and commercial properties in established markets, Greece now offers investment safety comparable to other EU countries.
International rating agencies have upgraded Greece's credit ratings, further confirming the country's improved economic stability.
How do acquisition costs for foreign buyers in Greece compare internationally today?
Total acquisition costs in Greece range from 5-11% of the purchase price, making them competitive within Europe.
For a €300,000 property, buyers should budget €15,000-€33,000 in additional costs. The breakdown includes property transfer tax at 3.09% of the higher of sale price or cadastral value, notary fees of 1-1.24% plus 24% VAT, legal fees ranging from 0.8-2.5% plus 24% VAT, agency commission of 2-4% (capped at 4% by EU law), and land registry/mortgage registration fees of 0.5-2%.
| Country | Total Acquisition Costs | Main Cost Components |
|---|---|---|
| Greece | 5-11% | Transfer tax, notary, legal fees |
| Spain | 10-15% | Transfer tax, VAT, stamp duty |
| Portugal | 7-10% | IMT tax, stamp duty, notary |
| France | 7-10% | Notaire fees, registration tax |
These competitive costs, combined with no wealth taxes on property ownership, make Greece an attractive destination for property investment within the European Union.
What infrastructure developments are boosting property values in Greece right now?
Major infrastructure projects currently underway are significantly impacting property values across Greece, creating investment opportunities in previously overlooked areas.
In Athens, the €8.5 billion Ellinikon Megaproject stands as Europe's largest urban regeneration initiative, with first residences ready in 2027. Surrounding area prices already exceed €8,500/sqm, up from €3,000/sqm just two years ago. Metro Line 4 will add 15 new stations by 2026, connecting previously underserved districts and boosting property values along its route.
The Kymi Avenue Extension improves suburban connectivity, while 950 eco-friendly buses enhance public transport by summer 2025. The Port of Piraeus expansion continues boosting commercial activity and nearby property values.
Regional developments include Thessaloniki Metro completion enhancing city-wide accessibility, the new Kastelli Airport in Crete opening 2026, the Northern Crete Highway (BOAK) improving coastal property access, and upgraded island ports enhancing ferry connections to the Cyclades and Dodecanese.
These infrastructure investments not only improve quality of life but create clear property appreciation opportunities for investors who position themselves ahead of completion.
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Greece. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
How have recent Golden Visa changes affected the Greek property market today?
The Golden Visa program changes implemented in 2025 have significantly reshaped market dynamics across Greece.
The minimum investment thresholds now stand at €800,000 for high-demand areas including Athens, Thessaloniki, Mykonos, Santorini, and islands with populations over 3,100. Other regions maintain a €400,000 threshold, while the €250,000 option remains only for converting non-residential buildings or restoring listed heritage properties.
This has created a clear demand shift, with buyers moving to €400,000 threshold regions and seeking smaller units that qualify. Chinese investors continue to lead with 6,500+ permits issued, followed by Turkish (1,400+), Lebanese (800+), British (500+), and Iranian buyers. Notably, 94% of Golden Visa properties are rented out, with only 6% used for personal residence.
The market now shows clear price differentiation between €800,000 and €400,000 zones, with a significant application surge occurring before threshold increases. This has depleted inventory in qualifying price ranges and created premium pricing for properties just under the new thresholds.
It's something we develop in our Greece property pack.
What are the current restrictions on short-term rentals affecting property investors in Greece?
New regulations effective October 1, 2025, have tightened the short-term rental market significantly, requiring investors to adapt their strategies.
Property owners now face stricter safety, insurance, and quality standards for short-term rentals. Central Athens has implemented a one-year freeze on new short-term rental licenses throughout 2025, effectively limiting new market entrants. Key restrictions include a maximum of two properties per owner for short-term rental, 90-day annual limits per property (reduced to 60 days on small islands), mandatory safety certifications and insurance, quality standards compliance, and often necessary professional property management.
These changes make long-term rentals increasingly attractive, especially with the 40% tax deduction available for renovating vacant properties for long-term rental use. Existing short-term rental properties now command premium prices due to their grandfathered status, though professional management costs are reducing net yields.
Many investors are shifting toward mixed rental strategies, combining short and long-term rentals to maximize income while complying with regulations. This regulatory environment favors professional operators over casual landlords.
Understanding these restrictions is crucial for realistic yield projections and investment planning.
How does Greece's property market compare to Spain, Portugal, and Croatia today?
Greece offers compelling advantages over its Mediterranean competitors in 2025, particularly in terms of growth potential and rental yields.
Annual price growth in Greek urban markets (7-12%) significantly outpaces Spain (2-6%), Portugal (1-5%), and matches or exceeds Croatian coastal areas (5-8%). Rental yields in Greece (4-8%) also lead the pack, compared to Spain (3-6%), Portugal (3-5%), and Croatia (3-7%).
Greece's Golden Visa program remains the most flexible, with thresholds of €400k-€800k, while Spain requires €500k and Portugal has ended its real estate option entirely. Croatia offers no comparable residency program. Market liquidity in Greece ranks high, superior to Portugal's currently low liquidity and comparable to Spain and Croatia's moderate levels.
Entry prices in Greece remain lower than Spanish prime locations like Barcelona or Madrid, while offering better value than Croatian coastal properties which have seen significant appreciation. The combination of strong growth, high yields, and residency options makes Greece particularly attractive.
For investors seeking both income and appreciation potential within a stable EU framework, Greece currently offers the best overall value proposition.
Which areas of Greece offer the best investment opportunities for buyers today?
The best investment opportunities in June 2025 vary significantly by investment strategy and risk profile.
For high growth potential, Thessaloniki city center leads with 12.2% annual growth at €1,970/sqm average prices. Athens Metro Line 4 corridors offer exceptional value as properties near future stations are still reasonably priced. The Ellinikon periphery, particularly areas within 2-3km of the megaproject, shows strong appreciation potential.
Developing Crete regions away from saturated Chania and Heraklion markets offer value, while lesser-known Cyclades islands like Paros, Naxos, and Syros provide tourist rental opportunities without Mykonos prices.
For stable income generation, central Athens established areas like Kolonaki and Plaka deliver reliable 4-5% yields. University districts in both Athens and Thessaloniki attract steady student housing demand. Business districts suit corporate rentals, while year-round island communities in Rhodes and Crete urban areas avoid seasonal fluctuations.
Mixed-use properties combining ground floor commercial with upper floor residential offer diversification benefits and multiple income streams.
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.
Based on current market conditions in June 2025, Greece presents favorable opportunities for property buyers, though selectivity is crucial. The combination of strong but moderating price growth, competitive mortgage rates, robust rental yields, and ongoing infrastructure improvements creates a positive investment environment.
While prices have risen significantly from their crisis lows, Greek property remains affordable compared to other European markets, particularly given the rental income potential. The market favors buyers who act strategically, focusing on emerging neighborhoods, properties near infrastructure developments, or units suitable for long-term rental given new short-term rental restrictions. Foreign buyers benefit from a stable eurozone economy, transparent legal framework, and residency options through the Golden Visa program, despite increased thresholds.
Sources
- The Luxury Playbook - Thessaloniki Real Estate Market Analysis
- Benoit Properties - Greece Housing Market Trends 2025
- The Luxury Playbook - Athens Real Estate Market Report
- Investment and Residency - Golden Visa Opportunities Athens
- International Monetary Fund - Greece Economic Assessment 2025
- Greek City Times - Greece GDP Growth Projections
- Global Property Guide - Greece Price History
- Investropa - Greek Islands Price Forecasts
- Greek City Times - Golden Visa Nationalities Analysis
- Enterprise Greece - Golden Visa Program Adjustments