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
Greece's property market in early 2026 is still growing, but at a calmer pace than the post-pandemic boom years.
Whether you want high rental yields in Athens neighborhoods like Kypseli or long-term appreciation near the new Thessaloniki Metro extension, this guide breaks down every area with real data.
We constantly update this blog post so the information stays fresh and reliable.
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.
What's the Current Real Estate Market Situation by Area in Greece?
Which areas in Greece have the highest property prices per square meter in 2026?
As of early 2026, the three most expensive areas in Greece for property are Athens South Suburbs (including Glyfada, Voula, and Vouliagmeni), the Cyclades islands (especially Mykonos, Santorini, and Paros), and Athens North Suburbs (like Kifisia and Psychiko).
In these premium locations, buyers should expect to pay anywhere from around 3,300 euros per square meter in the North Suburbs up to 6,400 euros per square meter or more in the most exclusive micro-areas like Kolonaki or central Glyfada.
Each of these areas commands top prices for different reasons:
- Kolonaki (Athens center): walkable historic charm, embassies, and upscale boutiques make it Athens' prestige address.
- Glyfada center (Athens Riviera): beachfront lifestyle, international schools, and direct tram access to the city.
- Mykonos and Santorini (Cyclades): severe building restrictions plus global luxury tourism demand limit supply.
- Kifisia and Psychiko (North Suburbs): leafy villa neighborhoods favored by established Greek families and executives.
Which areas in Greece have the most affordable property prices in 2026?
As of early 2026, the most affordable areas to buy property in Greece are mainly smaller mainland prefectures like Kastoria (around 530 euros per square meter), Kozani (around 640 euros per square meter), Kilkis (around 680 euros per square meter), and Grevena (around 820 euros per square meter).
In these budget-friendly regions, a decent apartment can cost between 500 and 850 euros per square meter, which is roughly one-tenth of what you would pay in prime Athens or the Cyclades islands.
However, lower prices often come with real trade-offs: Kastoria and Kozani have smaller local economies and fewer job opportunities, which means fewer tenants and longer times to sell if you need to exit, while Kilkis and Grevena lack the tourism demand that supports rental income in coastal or island markets.
You can also read our latest analysis regarding housing prices in Greece.
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.
Which Areas in Greece Offer the Best Rental Yields?
Which neighborhoods in Greece have the highest gross rental yields in 2026?
As of early 2026, the neighborhoods in Greece with the highest gross rental yields are Kypseli in Athens (around 5.4%), Exarchia-Neapoli in Athens (around 4.8%), and Koukaki-Makrygianni in Athens (around 4.4%), all of which benefit from moderate purchase prices combined with strong rental demand.
Across Greece as a whole, gross rental yields for residential properties typically range from about 3.5% in premium areas like Kolonaki and Glyfada to over 5% in improving inner-city neighborhoods where entry prices remain reasonable.
These top-yielding neighborhoods deliver better returns than prime areas for specific reasons:
- Kypseli: still relatively affordable entry prices but rising tenant demand thanks to an improving cafe and retail scene.
- Exarchia-Neapoli: central location with strong student and academic tenant pool, plus Metro Line 4 construction nearby.
- Koukaki-Makrygianni: walkable to the Acropolis with year-round tenant demand, though prices are rising fast.
Finally, please note that we cover the rental yields in Greece here.
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Which Areas in Greece Are Best for Short-Term Vacation Rentals?
Which neighborhoods in Greece perform best on Airbnb in 2026?
As of early 2026, the neighborhoods in Greece that perform best on Airbnb are the historic Athens core (Plaka, Monastiraki, Thissio, Koukaki-Makrygianni), along with island hotspots like Mykonos Town, Fira and Oia in Santorini, and Chania Old Town in Crete, all of which enjoy high occupancy and strong average nightly rates.
In the top-performing Athens neighborhoods, well-managed Airbnb properties can generate between 1,500 and 3,000 euros per month during peak seasons, while premium island properties in Mykonos or Santorini can earn significantly more during summer months.
Each of these areas outperforms for different reasons:
- Plaka and Monastiraki (Athens): walking distance to the Acropolis means year-round tourist foot traffic.
- Koukaki-Makrygianni (Athens): quieter than Plaka but still close to major sites, attracting longer-stay visitors.
- Mykonos Town: global luxury brand recognition drives premium nightly rates despite short summer season.
- Chania Old Town (Crete): Venetian architecture and longer tourist season than Cyclades islands.
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in Greece.
Which tourist areas in Greece are becoming oversaturated with short-term rentals?
The most oversaturated short-term rental areas in Greece are central Athens' historic core (particularly neighborhoods in the 1st, 2nd, and 3rd municipal districts like Plaka, Monastiraki, and parts of Psyrri), where the government has now banned new short-term rental registrations through 2026.
In these central Athens districts, Inside Airbnb data shows extremely high listing concentrations, with thousands of active rentals competing for the same tourist demand within a small geographic area.
The clearest sign of oversaturation is not just listing density but explicit government intervention: when authorities extend a ban on new STR registrations specifically because an area is "overloaded," that is as clear a regulatory signal as you can get that the market has reached capacity.
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 Areas in Greece Are Best for Long-Term Rentals?
Which neighborhoods in Greece have the strongest demand for long-term tenants?
The neighborhoods in Greece with the strongest demand for long-term tenants are Exarchia-Neapoli and Kypseli in central Athens (driven by students, academics, and young professionals), Koukaki-Makrygianni in Athens (popular with working professionals), and Kalamaria in Thessaloniki (attracting families and professionals ahead of the new metro opening).
In these high-demand neighborhoods, well-priced apartments typically rent within two to four weeks, and vacancy rates remain low compared to less central or less connected areas.
Different tenant profiles drive demand in each neighborhood:
- Exarchia-Neapoli: university students and academics from nearby institutions, plus young creatives.
- Kypseli: budget-conscious professionals and families attracted by improving amenities and Metro Line 4 plans.
- Koukaki-Makrygianni: working professionals who want walkability to central Athens without tourist crowds.
- Kalamaria (Thessaloniki): families and professionals anticipating the metro extension opening in February 2026.
What makes these neighborhoods especially attractive to long-term tenants is their combination of good public transit access (existing or soon-to-open metro stations), neighborhood amenities like cafes, markets, and parks, and relative affordability compared to the most expensive prime areas.
Finally, please note that we provide a very granular rental analysis in our property pack about Greece.
What are the average long-term monthly rents by neighborhood in Greece in 2026?
As of early 2026, average long-term monthly rents in Greece vary significantly by neighborhood: in Athens, Kolonaki averages around 20 euros per square meter per month, Glyfada center around 19.60 euros, Koukaki-Makrygianni around 14 euros, Exarchia-Neapoli around 11 euros, and Kypseli around 9.50 euros, while in Thessaloniki, Kalamaria averages around 9 euros per square meter per month.
In the most affordable Athens neighborhoods like Kypseli, a 60 square meter apartment typically rents for around 575 euros per month, making it accessible for young professionals and students.
In mid-range neighborhoods like Exarchia-Neapoli and Koukaki-Makrygianni, that same 60 square meter apartment would rent for between 675 and 835 euros per month, which is where most working professionals in Athens tend to look.
In the most expensive neighborhoods like Kolonaki and Glyfada center, a 60 square meter apartment commands around 1,175 to 1,200 euros per month, typically attracting executives, diplomats, and higher-income expats.
You may want to check our latest analysis about the rents in Greece here.
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Which Are the Up-and-Coming Areas to Invest in Greece?
Which neighborhoods in Greece are gentrifying and attracting new investors in 2026?
As of early 2026, the neighborhoods in Greece that are gentrifying and attracting new investors are Kypseli and Exarchia-Neapoli in Athens, where improving amenities, planned Metro Line 4 stations, and still-reasonable entry prices are drawing both local and international buyers.
These gentrifying Athens neighborhoods have seen annual price appreciation of around 8 to 12% over recent years, outpacing the city average as demand catches up to the improving infrastructure and neighborhood character.
Which areas in Greece have major infrastructure projects planned that will boost prices?
The areas in Greece with major infrastructure projects most likely to boost property prices are Kalamaria, Aretsou, Nea Krini, and Mikra in Thessaloniki (metro extension), Kypseli and Exarchia in Athens (Metro Line 4 corridor), and Elliniko and surrounding coastal areas (Ellinikon mega-development).
The specific projects driving these expectations are the Kalamaria Metro extension in Thessaloniki scheduled to begin operations in February 2026, the Athens Metro Line 4 with tunnels expected ready by 2026 and stations serving Kypseli, Exarchia, Kolonaki, and Galatsi, and the Ellinikon coastal regeneration project with first openings set for 2026.
Historically in Greece, neighborhoods that gain new metro stations typically see property prices increase by 10 to 20% within a few years of the opening, as improved connectivity makes them more attractive to both residents and investors.
You'll find our latest property market analysis about Greece here.
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 Areas in Greece Should I Avoid as a Property Investor?
Which neighborhoods in Greece with lots of problems I should avoid and why?
The neighborhoods in Greece that present the most challenges for property investors are central Athens' 1st, 2nd, and 3rd municipal districts if your strategy depends on new short-term rentals (due to the registration ban), and certain inland prefectures with weak economic fundamentals like Kastoria and Kozani where tenant demand is limited.
Each of these areas has specific issues investors should understand:
- Plaka, Monastiraki, Psyrri (central Athens): new STR registrations banned through 2026, limiting rental strategy flexibility.
- Kastoria Prefecture: declining prices (down nearly 10% year-over-year) and weak local economy mean exit risk.
- Kozani Prefecture: prices dropped around 4.6% last year with limited tenant pool outside mining sector.
- Piraeus port area: prices declined 1.3% recently, with uneven neighborhood quality requiring careful selection.
For these areas to become viable investment options, central Athens would need the STR ban lifted or a shift to long-term rental strategy, while inland prefectures like Kastoria and Kozani would need significant new employers or infrastructure to create sustained tenant demand.
Buying a property in the wrong neighborhood is one of the mistakes we cover in our list of risks and pitfalls people face when buying property in Greece.
Which areas in Greece have stagnant or declining property prices as of 2026?
As of early 2026, the areas in Greece with stagnant or declining property prices include Piraeus (down 1.3% year-over-year), Kastoria Prefecture (down 9.8%), Kozani Prefecture (down 4.6%), Phthiotis (down 0.9%), and Fokida (down 1%).
These areas have experienced price declines or stagnation ranging from about 1% to nearly 10% over the past year, while most of Greece has seen continued price growth.
The underlying causes of price weakness differ by area:
- Kastoria Prefecture: population decline and limited tourism appeal compared to coastal or island destinations.
- Kozani Prefecture: dependence on lignite mining sector, which faces long-term transition pressures.
- Piraeus: uneven regeneration with some port-adjacent areas lagging behind gentrifying pockets.
- Phthiotis and Fokida: inland locations without major employment centers or tourist attractions.
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Which Areas in Greece Have the Best Long-Term Appreciation Potential?
Which areas in Greece have historically appreciated the most recently?
The areas in Greece that have appreciated the most over recent years are Chania Prefecture in Crete, Heraklion Prefecture in Crete, the Dodecanese islands (including Rhodes), and Lefkada Prefecture in the Ionian islands, all of which have seen double-digit annual price growth driven by strong tourism demand and lifestyle buyer interest.
These top-performing areas have achieved impressive appreciation rates:
- Chania Prefecture (Crete): up around 19% year-over-year, driven by Venetian old town appeal and long tourism season.
- Heraklion Prefecture (Crete): up around 17% year-over-year, benefiting from airport access and archaeological tourism.
- Dodecanese (Rhodes and nearby islands): up around 17% year-over-year, with strong Northern European buyer demand.
- Lefkada Prefecture (Ionian): up around 16% year-over-year, attracting sailing tourism and summer home buyers.
The main driver behind this above-average appreciation is the combination of constrained supply (building restrictions on islands, limited developable land in historic areas) meeting sustained international demand for Greek lifestyle properties and vacation homes.
By the way, you will find much more detailed trends and forecasts in our pack covering there is to know about buying a property in Greece.
Which neighborhoods in Greece are expected to see price growth in coming years?
The neighborhoods in Greece expected to see the strongest price growth in coming years are Kalamaria, Aretsou, Nea Krini, and Mikra in Thessaloniki (metro catalyst), Kypseli and Exarchia-Neapoli in Athens (Metro Line 4 corridor), and Elliniko and surrounding Athens Riviera areas (Ellinikon development spillover).
Projected growth rates vary by neighborhood based on their specific catalysts:
- Kalamaria area (Thessaloniki): expected 8 to 15% appreciation as metro operations begin February 2026.
- Kypseli (Athens): projected 7 to 12% annual growth as Metro Line 4 station delivery becomes credible.
- Exarchia-Neapoli (Athens): expected 6 to 10% growth driven by transit improvements and gentrification momentum.
- Elliniko area (Athens Riviera): projected 10 to 15% appreciation as Ellinikon openings begin in 2026.
The single most important catalyst driving future price growth in these neighborhoods is the delivery of major transit infrastructure, specifically the Thessaloniki Metro extension and Athens Metro Line 4, which will fundamentally improve connectivity and attract new resident demand.
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 Do Locals and Expats Really Think About Different Areas in Greece?
Which areas in Greece do local residents consider the most desirable to live?
The areas in Greece that local residents consider most desirable to live are Kolonaki in central Athens, Glyfada and the southern suburbs along the Athens Riviera, Kifisia and Psychiko in the northern suburbs, and Kalamaria in Thessaloniki.
Each area attracts locals for different qualities:
- Kolonaki (Athens center): walkable urban lifestyle with upscale shops, cafes, and cultural institutions.
- Glyfada (Athens Riviera): beach access combined with shopping, restaurants, and tram connection to the city.
- Kifisia (North Athens): leafy, villa-style living with top schools and a village-like atmosphere.
- Kalamaria (Thessaloniki): family-friendly waterfront suburb with good schools and the new metro arriving soon.
These locally-preferred areas typically attract upper-middle-class Greek families, established professionals, and business owners who prioritize quality of life, good schools, and safe, well-maintained neighborhoods.
Local Greek preferences largely align with what foreign investors target in terms of neighborhood quality, though Greeks tend to place more weight on schools and family amenities while foreign investors often prioritize rental yield potential and tourism proximity.
Which neighborhoods in Greece have the best reputation among expat communities?
The neighborhoods in Greece with the best reputation among expat communities are Glyfada and the Athens Riviera coastal suburbs, Kolonaki and Koukaki-Makrygianni in central Athens, and Chania Old Town in Crete for those seeking island lifestyle.
Expats prefer these neighborhoods for specific reasons:
- Glyfada (Athens Riviera): international schools, English-speaking services, and familiar coastal lifestyle.
- Kolonaki (Athens center): walkable sophistication, embassy proximity, and easy access to cultural life.
- Koukaki-Makrygianni (Athens): authentic neighborhood feel close to the Acropolis without full tourist chaos.
- Chania Old Town (Crete): Venetian charm, mild climate, and established expat community for retirees.
The expat profiles in these neighborhoods differ somewhat: Glyfada attracts families with school-age children and corporate relocations, Kolonaki draws diplomats and executives, Koukaki appeals to younger professionals and digital nomads, while Chania Old Town is popular with retirees and lifestyle migrants from Northern Europe.
Which areas in Greece do locals say are overhyped by foreign buyers?
The areas in Greece that locals commonly say are overhyped by foreign buyers are central Athens' historic tourist core (Plaka, Monastiraki, Psyrri), parts of Mykonos and Santorini where prices have detached from local fundamentals, and some Athens Riviera micro-areas priced for international rather than local demand.
Locals believe these areas are overvalued for different reasons:
- Plaka and Monastiraki (Athens): STR-driven prices exceed what local rents can justify, plus new STR ban limits strategy.
- Mykonos and Santorini: summer-only demand means many properties sit empty eight months a year.
- Parts of Glyfada: some streets are priced for "Riviera brand" rather than actual neighborhood quality.
Foreign buyers typically see postcard appeal, Acropolis views, and "Greek island dream" marketing in these areas, while locals focus more on year-round livability, practical amenities, and whether the rental math actually works outside peak tourist season.
By the way, we've written a blog article detailing the experience of buying a property as a foreigner in Greece.
Which areas in Greece are considered boring or undesirable by residents?
The areas in Greece that residents commonly consider boring or undesirable are smaller inland prefectures like Kastoria, Kozani, Kilkis, and Grevena, which have limited nightlife, fewer restaurants and cultural amenities, and declining populations compared to coastal and urban areas.
Residents find these areas less appealing for specific reasons:
- Kastoria: beautiful lake setting but isolated location, cold winters, and shrinking local economy.
- Kozani: mining town character with limited dining, entertainment, or cultural scene beyond basics.
- Kilkis: agricultural economy with few employers attracting young professionals or families.
- Grevena: mountain town appeal for some, but limited services and long drive to major cities.
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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 | Greece's central bank publishes official transaction-based housing price statistics. | We used it to anchor price direction with real transaction data, not just asking prices. We also used its regional splits to compare Athens, Thessaloniki, and other areas consistently. |
| Spitogatos Property Index | Greece's largest property portal with transparent asking-price methodology and nationwide coverage. | We used it for area-by-area price and rent comparisons across all of Greece. We also used its year-over-year changes to identify appreciating and declining markets. |
| Indomio | Provides consistent neighborhood-level asking prices and rents for Athens and Thessaloniki. | We used it to calculate gross rental yields using same-month price and rent data. We also used it to show actual micro-area prices rather than vague city averages. |
| ELSTAT | Greece's official national statistics agency for economic and construction data. | We used it to verify macro context like construction activity and regional economic health. We also used it to sanity-check market narratives against hard supply data. |
| Inside Airbnb | Widely-used civic dataset making short-term rental concentration measurable and auditable. | We used it to identify STR saturation by neighborhood with actual listing counts. We also used it to triangulate with AirDNA for balanced STR market analysis. |
| AirDNA | Major STR analytics provider used by investors and operators globally. | We used it to benchmark occupancy and average daily rates for Athens as a whole. We also used it as a second lens to cross-check Inside Airbnb's modeling. |
| eKathimerini | Major national English-language newspaper reporting concrete policy decisions. | We used it to document the STR registration ban in central Athens extended through 2026. We also used it to flag regulatory risk for specific neighborhoods. |
| Thessaloniki Metro | Official project operator site with confirmed operational start timing. | We used it to identify the Kalamaria metro extension as a dated infrastructure catalyst. We also used it to specify which micro-areas will benefit from the February 2026 opening. |
| INSETE | Recognized tourism research institute used by industry and policymakers. | We used it to ground tourism strength claims that drive STR demand. We also used it to compare regional tourism momentum rather than relying on anecdotes. |
| AADE | Official Greek tax authority page for short-term rental compliance requirements. | We used it to describe the baseline compliance rules for Airbnb-type rentals. We also used it as context when discussing regulatory risk and registration obligations. |
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