Authored by the expert who managed and guided the team behind the Greece Property Pack
Everything you need to know before buying real estate is included in our Greece Property Pack
If you're considering buying rental property in Greece, understanding actual yields is essential before investing.
This article breaks down gross and net rental yields across Greek neighborhoods and property types, using official data and transparent methodology.
We constantly update this blog post to reflect the latest market conditions.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Greece.
Insights
- Greece's average gross yield sits around 4.8% nationwide, but the spread between prime Athens neighborhoods like Kolonaki (around 3.5%) and value areas like Kypseli (around 6%) reaches 2.5 percentage points.
- Small apartments between 25 and 55 square meters consistently deliver the highest yield per square meter because rent per square meter drops more slowly than purchase price as size increases.
- ENFIA, Greece's annual property tax, typically costs 0.15% to 0.60% of property value yearly, which alone can reduce net yield by half a percentage point or more.
- Athens Metro Line 4 is expected to lift rents in Exarchia, Zografou, and Galatsi by 5% to 15% once stations open.
- Thessaloniki's Kalamaria metro extension, opening in early 2026, is already boosting tenant interest along the Aretsou, Nea Krini, and Mikra corridor.
- Rental-market vacancy for well-priced urban apartments in Athens and Thessaloniki runs around 4% to 7%, roughly two to four weeks empty per year.
- Property management in Greece costs 8% to 12% of collected rent, plus a leasing fee of 50% to 100% of one month's rent for new tenants.
- The Ellinikon redevelopment is creating spillover demand in Helliniko, Argyroupoli, and Glyfada, where landlords already see stronger tenant inquiries.
- Net rental yields in Greece average around 3.2% before income tax, but investors in older buildings often land closer to 2.2%.
- Regional cities like Patras, Larissa, and Heraklion often deliver gross yields above 5.5% due to lower prices combined with steady local demand.
What are the rental yields in Greece as of 2026?
What's the average gross rental yield in Greece as of 2026?
As of early 2026, the average gross rental yield for residential property in Greece sits around 4.8%, meaning every 100,000 euros invested generates roughly 4,800 euros in annual rent before expenses.
Most typical residential properties fall within a realistic gross yield range of 3.5% to 6.5%, depending on city, neighborhood, and property condition.
This puts Greece roughly in line with broader European averages, though slightly higher than Western European capitals where yields have compressed below 3%.
The most important factor influencing gross yields in Greece is the gap between price growth and rent growth, with prices rising faster in prime areas, compressing yields there while keeping them higher in affordable neighborhoods.
What's the average net rental yield in Greece as of 2026?
As of early 2026, the average net rental yield in Greece is around 3.2% before personal income tax, reflecting what landlords keep after property taxes, maintenance, and vacancy.
The typical gap between gross and net yields in Greece is roughly 1.5 to 1.6 percentage points, varying by building age and management approach.
The expense that most significantly reduces gross to net yield in Greece is ENFIA, the annual property tax, costing anywhere from a few hundred to over 1,500 euros yearly for urban apartments.
Most standard investment properties deliver net yields of 2.2% to 4.2%, with the lower end reflecting prime locations and older buildings, and the higher end achievable in value neighborhoods with well-maintained stock.
By the way, you will find much more detailed rent ranges in our property pack covering the real estate market in Greece.
We made this infographic to show you how property prices in Greece compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What yield is considered "good" in Greece in 2026?
In Greece's residential rental market in 2026, a gross yield of 5.5% or higher is considered "good" by local investors because it provides a meaningful cushion above the 4.8% national average.
The threshold separating average from high-performing properties is around 6.5% gross, though achieving this usually means accepting trade-offs like older buildings or less central locations.
How much do yields vary by neighborhood in Greece as of 2026?
As of early 2026, the spread in gross yields between highest and lowest-yield neighborhoods in Greece is typically 2 to 3 percentage points within the same city.
Neighborhoods delivering the highest yields are affordable areas with strong tenant demand, such as Kypseli, Patissia, Sepolia, and Metaxourgeio in Athens, or Vardaris, Toumba, and Xirokrini in Thessaloniki, where gross yields reach 5% to 7%.
The lowest-yield neighborhoods are premium areas like Kolonaki, Glyfada, Vouliagmeni, and Kifisia in Athens, or Kalamaria and Panorama in Thessaloniki, where yields cluster around 3% to 4.5%.
Yields vary so much because property prices in prime areas have risen faster than rents, compressing returns, while affordable neighborhoods maintain better rent-to-price ratios.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Greece.
How much do yields vary by property type in Greece as of 2026?
As of early 2026, gross yields in Greece range from around 3% for luxury villas up to 6% or more for small urban apartments, a spread of roughly 0.5 to 2 percentage points.
Small apartments, particularly studios and one-bedrooms in Athens and Thessaloniki, deliver the highest gross yields because rent per square meter remains strong relative to lower total purchase prices.
Luxury villas and large coastal properties deliver the lowest gross yields when rented long-term, as high prices reflect lifestyle value rather than rental income potential.
Yields differ between property types because rent doesn't scale proportionally with size or value, so smaller units generate higher percentage returns.
By the way, you might want to read the following:
What's the typical vacancy rate in Greece as of 2026?
As of early 2026, typical rental-market vacancy for well-priced properties in Athens and Thessaloniki is around 4% to 7%, roughly two to four weeks vacant per year.
Across neighborhoods, vacancy can range from 3% in high-demand central areas to 10% or higher in smaller cities or for overpriced properties.
The main factor driving vacancy rates is rental market tightness in major cities, where strong demand from professionals and students keeps turnover periods short.
Compared to high structural vacancy in Greece's overall housing stock, active rental-market vacancy in urban centers remains relatively low and in line with other Southern European cities.
Finally please note that you will have all the indicators you need in our property pack covering the real estate market in Greece.
What's the rent-to-price ratio in Greece as of 2026?
As of early 2026, the average rent-to-price ratio in Greece is approximately 0.40% monthly, meaning monthly rent represents about 0.4% of purchase price, annualizing to the 4.8% gross yield.
For buy-to-let investors, a monthly ratio of 0.45% or higher is considered favorable, corresponding to a gross yield above 5.4% with better cushion for expenses.
Greece's ratio is competitive compared to Western European capitals like Paris or Amsterdam (often below 0.30%), though it trails some Eastern European markets exceeding 0.50%.
We have made this infographic to give you a quick and clear snapshot of the property market in Greece. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
Which neighborhoods and micro-areas in Greece give the best yields as of 2026?
Where are the highest-yield areas in Greece as of 2026?
As of early 2026, the highest-yield neighborhoods include Kypseli, Patissia, and Metaxourgeio in Athens, Vardaris and Toumba in Thessaloniki, and regional hubs like central Patras.
In these areas, gross yields typically range from 5.5% to 7%, with some well-positioned small apartments reaching even higher when priced correctly.
These high-yield areas share affordable purchase prices combined with deep, year-round tenant demand driven by proximity to jobs, universities, and public transit.
You'll find a much more detailed analysis of the areas with high profitability potential in our property pack covering the real estate market in Greece.
Where are the lowest-yield areas in Greece as of 2026?
As of early 2026, the lowest-yield neighborhoods are Kolonaki, Kifisia, and Vouliagmeni in Athens, where premium pricing significantly outpaces achievable long-term rents.
In these areas, gross yields typically range from 2.8% to 4%, meaning investors pay a substantial premium for prestige over income potential.
Yields are compressed here because property prices reflect desirability factors like sea views and exclusivity that tenants won't pay proportionally higher rents to access.
Buying a property in a low-yield area is one of the mistakes we cover in our list of risks and pitfalls people face when buying property in Greece.
Which areas have the lowest vacancy in Greece as of 2026?
As of early 2026, neighborhoods with the lowest vacancy rates include Ampelokipoi, Koukaki, and Neos Kosmos in Athens, benefiting from excellent transit and strong amenities.
In these areas, vacancy rates typically run between 2% and 4%, meaning less than two weeks vacant per year when priced at market rates.
The main driver keeping vacancy low is proximity to metro stations, employment centers, and vibrant neighborhood life attracting professionals and students.
The trade-off is that purchase prices are higher relative to rents, resulting in lower gross yields despite more stable income streams.
Which areas have the most renter demand in Greece right now?
The neighborhoods with strongest renter demand are Koukaki and Pangrati in central Athens, plus Thessaloniki city center, where listings receive multiple inquiries within days.
The renter profile driving demand includes young professionals aged 25 to 40, graduate students, and small households relocating for urban employment.
In these neighborhoods, well-priced listings typically get filled within one to two weeks, often with multiple qualified applicants.
If you want to optimize your cashflow, you can read our complete guide on how to buy and rent out in Greece.
Which upcoming projects could boost rents and rental yields in Greece as of 2026?
As of early 2026, the top infrastructure projects expected to boost rents are Athens Metro Line 4, the Ellinikon redevelopment, and Thessaloniki Metro's Kalamaria extension.
Neighborhoods likely to benefit include Exarchia, Zografou, and Galatsi (Athens metro), Helliniko, Argyroupoli, and Glyfada (Ellinikon), and Aretsou, Nea Krini, and Mikra (Thessaloniki).
Once completed, investors might expect rent increases of 5% to 15% in directly affected areas, based on typical uplift around new metro stations.
You'll find our latest property market analysis about Greece here.
Get fresh and reliable information about the market in Greece
Don't base significant investment decisions on outdated data. Get updated and accurate information with our guide.
What property type should I buy for renting in Greece as of 2026?
Between studios and larger units in Greece, which performs best in 2026?
As of early 2026, studios and one-bedrooms generally outperform larger units on gross yield, though two-bedrooms often provide better stability and lower turnover.
Studios in Athens and Thessaloniki typically deliver 5% to 6.5% gross yields (5,000 to 6,500 euros annually per 100,000 invested, or $5,400 to $7,000 USD), while two-bedrooms yield 4% to 5%.
Smaller units outperform because tenants prioritize location and affordability, keeping rent per square meter high while prices don't drop proportionally for larger units.
However, two-bedrooms can be better when targeting families or long-term professionals who stay for years, reducing turnover costs.
What property types are in most demand in Greece as of 2026?
As of early 2026, the most in-demand property type is the renovated one-to-two bedroom apartment with efficient heating/cooling, located near transit in Athens or Thessaloniki.
The top three types by tenant demand are renovated urban apartments with modern energy systems, small family apartments near schools, and studios in central locations.
This pattern is driven by urban workers and students prioritizing location convenience and energy efficiency to manage rising utility costs.
One underperforming type is the large, unrenovated apartment with poor energy ratings, as tenants increasingly avoid high heating and cooling costs.
What unit size has the best yield per m² in Greece as of 2026?
As of early 2026, units between 25 and 55 square meters deliver the best gross yield per square meter in Greece, particularly in Athens and Thessaloniki.
For this optimal size, yields typically reach 5.5% to 6.5% annually, meaning a 40 square meter apartment worth 100,000 euros might generate 5,500 to 6,500 euros yearly (around $5,900 to $7,000 USD).
Very small studios can be harder to rent at premium rates while larger apartments spread rent across more square meters without proportional price increases.
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in Greece.
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 costs cut my net yield in Greece as of 2026?
What are typical property taxes and recurring local fees in Greece as of 2026?
As of early 2026, annual ENFIA property tax for a typical rental apartment in Greece ranges from 300 to 1,500 euros ($325 to $1,620 USD), depending on zone value, size, and building characteristics.
Beyond ENFIA, landlords budget for annual building common charges (typically 300 to 800 euros or $325 to $865 USD) covering elevator, lighting, and maintenance.
Combined, these taxes and fees typically represent 8% to 15% of gross rental income, with ENFIA often accounting for half that burden.
By the way, we cover all the hidden fees and taxes in our property pack covering the real estate market in Greece.
What insurance, maintenance, and annual repair costs should landlords budget in Greece right now?
Annual landlord insurance for a typical rental apartment costs approximately 150 to 400 euros ($160 to $430 USD), covering structure and basic liability.
The recommended annual maintenance budget is roughly 0.8% to 1.2% of property value, meaning 800 to 1,200 euros ($865 to $1,300 USD) for a 100,000 euro apartment.
The repair expense that most commonly catches landlords off guard is heating and cooling system failures, particularly in older buildings with aging boilers and AC units.
In total, budget around 1,200 to 2,000 euros ($1,300 to $2,160 USD) annually for combined insurance, maintenance, and repair reserves.
Which utilities do landlords typically pay, and what do they cost in Greece right now?
In most long-term Greek leases, tenants pay their own utilities, though landlords may cover them during vacancies, in furnished short-term arrangements, or when central heating is included.
When landlords do cover utilities, monthly costs run around 80 to 180 euros ($86 to $195 USD), with electricity the largest component given elevated household power prices.
What does full-service property management cost, including leasing, in Greece as of 2026?
As of early 2026, full-service property management costs 8% to 12% of collected rent monthly, meaning a 600 euro rent incurs 48 to 72 euros ($52 to $78 USD) in management fees.
Additionally, tenant placement fees run 50% to 100% of one month's rent, so 300 to 600 euros ($325 to $650 USD) per new tenant for a 600 euro apartment.
What's a realistic vacancy buffer in Greece as of 2026?
As of early 2026, landlords should set aside approximately 5% of annual rental income as a vacancy buffer, with 7% to 10% for smaller cities, seasonal markets, or inefficient properties.
This 5% buffer translates to roughly 2 to 3 weeks vacancy per year for a well-priced Athens or Thessaloniki apartment.
Buying real estate in Greece can be risky
An increasing number of foreign investors are showing interest. However, 90% of them will make mistakes. Avoid the pitfalls with our comprehensive guide.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Greece, we always rely on the strongest methodology we can and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why It's Authoritative | How We Used It |
|---|---|---|
| Bank of Greece - Real Estate Market | Greece's central bank and official scoreboard for housing indicators. | We anchored yields with official price indices. We sanity-checked private-market trends against central-bank data. |
| Bank of Greece - Property Price Indices | Documents central bank methodology and publishes main indices for researchers. | We cross-checked market-reported prices against national trends. We used it as our official methodology reference. |
| ECB Data Portal - Greece Rent Inflation | ECB portal distributing Eurostat's harmonised inflation data including Greek rents. | We described official rent movements. We used it as an independent check alongside market indices. |
| ELSTAT - Consumer Price Index | Greece's national statistics office with official CPI time series. | We supported rent inflation and cost-of-living statements. We kept our narrative grounded in official data. |
| Eurostat - House Prices and Rents Release | EU's official statistics body summarising housing datasets. | We framed Greece in wider EU context. We used it as a macro cross-check for yield estimates. |
| Eurostat - Housing Price Statistics Explainer | Eurostat's methodology page for house price statistics. | We kept terminology consistent. We made explanations verifiable. |
| Spitogatos Property Index | Greece's largest property marketplace with transparent geographic index. | We used it for street-level asking prices and rents. We converted these into yields with negotiation adjustments. |
| Global Property Guide - Greece Rental Yields | Long-running international housing research publisher with clear methodology. | We cross-checked our Spitogatos-based yields. We validated yield ranges by unit size and city. |
| Ministry of Economy and Finance - ENFIA Tax Guide | Official government tax guide for Greece's main annual property tax. | We explained ENFIA and its yield impact. We kept cost assumptions tied to official rules. |
| AADE - ENFIA Information | Greek tax authority publishing official ENFIA guidance. | We confirmed ENFIA administration and timing. We supported landlord cost expectations. |
| Elliniko Metro S.A. - Athens Metro Line 4 | Official project company for major metro infrastructure. | We identified where infrastructure shifts demand. We justified hotspots with named corridors. |
| Thessaloniki Metro - Kalamaria Extension | Official project website describing the extension. | We highlighted micro-areas seeing demand lift. We named specific places along the corridor. |
| Elliniko Metro S.A. - Kalamaria Extension Details | Official project progress page with station list. | We triangulated project timeline and station names. We kept the projects section verifiable. |
| LAMDA Development - The Ellinikon | Developer's primary source for one of Greece's largest regeneration projects. | We grounded the new supply story in official descriptions. We tied demand shifts to nearby neighborhoods. |
| POMIDA/AUEB Study on Short-Term Rentals | Academic and industry study with national housing-stock figures. | We distinguished structural from rental-market vacancy. We avoided hand-wavy claims about empty homes. |
| Eurostat - Household Electricity Prices | EU's official summary of household electricity prices. | We set expectations for electricity as a running cost. We used it as benchmark rather than estimate websites. |
| EYATH - Thessaloniki Water Tariffs | Official tariff page of Thessaloniki water utility. | We showed water pricing is publicly defined. We supported Thessaloniki landlord utility section. |
Get the full checklist for your due diligence in Greece
Don't repeat the same mistakes others have made before you. Make sure everything is in order before signing your sales contract.