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Where are the best places to invest in Greece right now? Is Athens still the top pick, or are islands like Crete, Rhodes, and Santorini gaining ground? What makes these locations attractive to both local and foreign investors?
We’re often asked these questions because we work directly with notaries, real estate agents, and clients who invest across the country. Our firsthand experience in these markets gives us unique insights into where the real opportunities lie. To save everyone from asking privately, we’ve written this article to share our knowledge broadly.
Our goal is to highlight the hottest markets in Greece and explain why they’re worth your attention in 2025.
If you have suggestions or want us to dive deeper into a specific area, let us know. You shoot an email, we answer within 24 hours.
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1) Rhodes Town is gaining interest for its historical charm and thriving tourism sector
Rhodes Town is becoming a hot spot for property buyers, thanks to its historical charm and vibrant tourism sector.
Imagine strolling through streets where history whispers from every corner; that's the allure of Rhodes Town. Its rich cultural heritage draws not just tourists but also those looking to own a piece of this enchanting place. The town's ancient sites and unique atmosphere make it irresistible for anyone with a love for history.
Tourism is booming here, and it's a big reason why property demand is on the rise. In 2023, Rhodes welcomed 2.625 million tourists via charter flights, a record-breaking number. This trend didn't stop there; in 2024, tourist traffic jumped by 13.4% compared to the previous year. With so many visitors, it's no wonder that investors are eyeing the local real estate market.
Property prices in Greece are climbing, largely due to the thriving tourism industry. While we don't have exact figures for Rhodes Town, the overall trend is clear. From 2023 to 2024, property prices in Greece saw an average increase of 7%. This makes buying property in Rhodes Town a smart move for those looking to tap into a growing market.
Investors are particularly interested in Rhodes Town because of its potential for rental income. With the influx of tourists, there's a constant demand for accommodations, making it a lucrative opportunity for property owners. The town's appeal to both short-term and long-term renters adds to its attractiveness as an investment.
Sources: The Luxury Playbook, GREtour.com, BnB News
2) Heraklion is gaining interest for its tourism growth and affordable property prices compared to other Cretan cities
Heraklion is turning heads with its booming tourism and budget-friendly property market.
In 2024, the port of Heraklion had a stellar year, welcoming 171 cruise ships and 348,249 passengers from January to August. This is a big jump from 2023, which saw only 150 ships and 233,783 passengers. The buzz around Heraklion is palpable, with more tourists flocking to its shores, eager to explore its rich history and vibrant culture.
Greece as a whole is riding a wave of tourism success, with a 24.5% increase in international visitors and a 28.2% rise in spending in early 2024 compared to the previous year. This national trend is certainly helping Heraklion shine brighter on the map, drawing in more curious travelers and potential property buyers.
For those eyeing real estate, Heraklion is a gem. Renting a one-bedroom apartment in the city center costs about €430, while in Chania, it's a steeper €583.33. That's a noticeable 35.7% difference, making Heraklion a more attractive option for renters.
Buying property in Heraklion is also easier on the wallet. The price per square meter is around €3,212.50, compared to Chania's €4,500.00. This 40.1% price gap is a significant factor for anyone considering investing in Cretan real estate.
Sources: Heraklion Port, ETIAS, Numbeo
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.
3) Thessaloniki’s Ano Poli is drawing interest for its traditional architecture and potential property value growth
Thessaloniki's Ano Poli neighborhood is drawing in property buyers with its unique charm.
One of the main attractions is its rich historical significance and traditional architecture, which captivates those who love cultural charm. Walking through Ano Poli feels like stepping back in time, with its cobblestone streets and preserved buildings that tell stories of the past.
Property prices in Thessaloniki have been climbing steadily. In November 2024, the average price per square meter in the city hit €2,475, showing a notable increase from the previous year. In Ano Poli, prices were even higher at €2,926 per square meter, highlighting its growing appeal as an investment.
The city is also seeing major urban development, with improvements in infrastructure that make neighborhoods like Ano Poli more livable and attractive. This is part of a larger trend that experts say will continue to boost Thessaloniki's real estate market. The local government is keen on preserving the area's traditional architecture, adding to its allure.
Buyers are not just investing in a property; they're investing in a lifestyle that blends the old with the new. The neighborhood's vibrant community and cultural events make it a lively place to live, while the potential for property value growth makes it a smart investment.
Sources: Indomio, iLand, BNB News
4) Kavala is gaining interest for its scenic coastal charm and affordable property prices
Kavala is quickly becoming a hot spot for property buyers thanks to its stunning coastal views and budget-friendly prices.
In Greece, the real estate market is on the upswing, especially in coastal areas. This trend is expected to continue, with projections showing a 3.2% annual growth in the market. Kavala is riding this wave, making it an attractive option for those looking to invest in property.
What sets Kavala apart from other Greek coastal cities is its relatively lower property prices. For instance, the average gross rental yield here is 4.34%, which is more affordable compared to places like Patra and Heraklion. This makes Kavala a smart choice for investors seeking properties with rental income potential.
International interest in Kavala is on the rise, thanks to its breathtaking coastal setting and competitive prices. The city experienced a 14.8% increase in airport passenger traffic in the first four months of 2024, indicating growing interest from both domestic and international buyers. This uptick in tourism is likely to keep boosting the real estate market.
With its picturesque views and affordable prices, Kavala is emerging as a desirable market for property buyers. The city's charm and potential for growth make it a compelling choice for those looking to invest in Greek real estate.
Sources: Greek Real Estate Market Analysis & Forecast (2024 - 2025), Greek Tourism Surges to Record Levels in Early 2024, Gross Rental Yields in Greece
5) Chania in Crete is thriving with high rental yields in the short-term vacation market
Chania in Crete is a hotspot for high rental yields, especially in the short-term vacation rental market.
During the summer, occupancy rates soar, consistently staying above 45% and peaking at 54% in August. This shows a strong demand for short-term rentals, making it a lucrative option for property investors.
In 2023, Crete saw a massive influx of tourists, with over 33 million visitors exploring the island. Looking ahead, bookings for summer 2025 are already up by 31% compared to the previous year, indicating a growing interest in the area.
Despite a 21% increase in accommodation establishments in Crete during the summer of 2024, occupancy rates remained high. This means that even with more listings, demand continues to outpace supply, which is great news for rental yields.
Property management companies are thriving, as the demand for rentals in Chania keeps climbing. This trend is fueled by the island's appeal, with its stunning beaches, rich history, and vibrant culture drawing in visitors from around the globe.
Investing in Chania not only offers the potential for high returns but also the chance to be part of a dynamic and growing market. The combination of increasing tourist numbers and limited supply makes it an attractive option for those looking to capitalize on the short-term rental boom.
Sources: BNB News, The Luxury Playbook, Inconde
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6) Corfu Town is attracting interest for its cultural heritage and growing holiday rental demand
Corfu Town is gaining popularity for its unique blend of cultural heritage and the booming holiday rental market.
Strolling through the Old Town of Corfu feels like stepping back in time, with its Venetian-era fortifications and historic buildings that captivate visitors. This charm is not just a local secret; media coverage and local initiatives are actively promoting and preserving this heritage, drawing even more attention to the area.
Holiday rentals in Corfu Town are on the rise, with platforms like Airbnb and Booking.com showcasing a growing number of listings. Take the Classic Corfiot Townhouse on Airbnb, for example, which enjoys a high rating and glowing reviews, highlighting the town's appeal to tourists seeking authentic experiences.
Tourism in Corfu is booming, with international air arrivals surpassing 1.8 million in 2023, a figure that even beats pre-pandemic numbers. This influx of visitors is a boon for the local economy, as evidenced by the substantial travel receipts reported by the Bank of Greece.
Corfu Town's allure lies in its perfect mix of cultural attractions and modern amenities, making it a top choice for travelers. The town's vibrant atmosphere and rich history offer a unique experience that keeps tourists coming back.
With its increasing popularity, Corfu Town is not just a destination; it's becoming a sought-after spot for holiday rentals, offering visitors a chance to immerse themselves in its cultural tapestry.
Sources: Greek Tourism 2023, Airbnb Corfu, Cultural Heritage Study
Our team found this video highlighting Corfu Town's appeal, with its UNESCO World Heritage status and high rental demand making it a prime investment destination.
7) Nafplio is gaining attention for its scenic beauty and growing demand for second homes
Nafplio is becoming a hot spot for property buyers, thanks to its stunning scenery and growing interest in second homes.
In recent years, property prices in Nafplio have surged, with the average price hitting €2,241 per square meter by November 2024. This increase highlights the rising demand, especially in the town center, where prices are even steeper. The town's charm lies in its historical allure and beautiful architecture, drawing in both tourists and potential homeowners.
Nafplio's rich cultural heritage and scenic harbor views make it a year-round tourist destination, unlike many Greek islands that are more seasonal. This steady stream of visitors has turned Nafplio into a romantic getaway and a prime spot for second homes. The town's appeal is not just about looks; it's about the lifestyle it offers.
There's a growing trend in the Greek housing market, particularly in the short-term rental sector, which supports the interest in second homes. Buyers are increasingly attracted to properties that offer sustainability and historical charm, which Nafplio delivers in spades. Real estate agents have noticed a spike in demand, driven by the town's natural beauty and the trend of investing in second homes.
For those considering a property purchase, Nafplio offers a unique blend of cultural richness and investment potential. The town's picturesque setting and vibrant community make it an attractive option for those looking to buy a second home. Whether you're drawn by the history, the views, or the investment opportunities, Nafplio has something to offer.
Sources: Indomio Real Estate Market Nafplio, Wikipedia Nafplio, Greek Real Estate Market Analysis & Forecast (2024 - 2025), 7 Reasons to Visit Nafplio
8) Patras is booming with real estate activity as a major port city boosting its economic prospects
Patras is buzzing with real estate activity thanks to its thriving port.
The port has seen a remarkable transformation, with profits skyrocketing from €41,265 in 2016 to €756,637 by 2020. This boom is a clear sign that property transactions are on the rise. As a major port city, Patras is not just a gateway for goods but also a magnet for investors looking to capitalize on its economic upswing.
Looking ahead, the Greek property market is set for a boom, with expectations that it will hit US$1.53 trillion by 2024. Patras, with its bustling port, is poised to play a big role in this growth. The port's development has made it a hub for new business ventures, boosting its competitiveness and enhancing its economic appeal.
The port of Patras is a vital cog in Greece's trade machine, serving Southern and Central Greece. Its strategic position and continuous investments have cemented its status as a commercial powerhouse. This trade and commerce growth is a major driver of the real estate surge in Patras.
With its strategic location, the port is not just about ships and cargo; it's about opportunity. The ongoing investments and developments have turned it into a vibrant commercial center, attracting businesses and boosting the local economy. This economic vitality is reflected in the bustling real estate market.
For those eyeing property in Patras, the port's success story is a compelling reason to invest. The city's economic prospects are bright, thanks to its role as a major port city. This makes Patras an attractive destination for real estate investors looking to tap into its growth potential.
Sources: Greece's Real Estate Market Analysis & Forecast (2024 - 2025), Greek Regional Upcoming Ports and New Chances for Investments, Historical Review – Οργανισμός Λιμένος Πάτρας Α.Ε.
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.
9) Ioannina is gaining interest with its growing student population and rising rental demand
Ioannina is becoming a hot spot because of its growing student population, driving demand for rental properties.
The University of Ioannina, with an enrollment of 30,000 to 34,999 students, is a major player in this trend. With a 20% acceptance rate, the university admits a substantial number of students each year, adding to the city's lively student community. This influx of students is not just local; the university's expansion in popular fields like Biology, Chemistry, and Epidemiology is attracting over 900 international students, further boosting housing demand.
Rental prices for a three-room apartment in Ioannina are on the rise, ranging from EUR 600 to EUR 766.67 per month, depending on the location. This increase is a direct result of the growing student population seeking accommodation. Local real estate market analyses show a clear trend: the need for new student housing projects is driving demand for rental properties.
New student housing projects are popping up, supported by government or municipal plans to enhance student accommodation infrastructure. This development is crucial as Ioannina gains recognition as an emerging student city. Media reports and travel publications are increasingly highlighting Ioannina's appeal, making it more attractive to students and families alike.
As Ioannina continues to grow as a student hub, the local real estate market is responding with new developments and infrastructure improvements. This dynamic environment is creating opportunities for property investors and landlords looking to tap into the student rental market. The city's transformation is not just about numbers; it's about creating a vibrant community that supports its growing student population.
Sources: EduRank, EURES, 4icu.org
10) Kalamata is attracting interest for its affordable homes and growing demand from international vacation home buyers
Kalamata is catching eyes for its affordable property prices, which are still a bargain compared to other Greek hotspots.
In November 2024, the average property price in Kalamata was €2,286 per square meter. This is a steal when you consider that prices in Thessaloniki and Piraeus are higher, making Kalamata a sweet spot for potential buyers.
There's a buzz among international buyers about Kalamata, thanks to its booming tourism and economic recovery. Real estate agencies are seeing a noticeable uptick in inquiries from abroad, signaling a wave of foreign interest in the area.
Media outlets are also shining a light on Kalamata. National Geographic has praised its natural beauty and cultural richness, which is drawing in more international buyers eager for vacation homes.
With its stunning landscapes and vibrant culture, Kalamata is becoming a go-to for those looking to invest in a vacation home. The region's charm and affordability are hard to resist, especially for those seeking a slice of Greek paradise without breaking the bank.
Sources: Indomio Real Estate Market, You Go Culture, Golden Visa Greece
11) Larissa is gaining interest with its growing industrial sector and rising housing demand
Larissa is seeing a surge in real estate interest thanks to its booming industrial sector.
With new factories and businesses popping up, property prices in Larissa have jumped by 10.76% in early 2024 compared to last year. This isn't just a number; it's a sign of the city's growing appeal. As industries expand, they bring jobs, and with jobs come people looking for homes.
Imagine new industrial projects sprouting around Larissa, creating a buzz of economic activity. This industrial boom is drawing more people to the area, and they all need places to live. It's a classic case of supply and demand, where the demand for housing is on the rise.
Even without specific numbers on real estate deals or rental demand, the trend is clear. Larissa's industrial growth is a magnet for housing demand, making it a hot spot for potential buyers. The city's transformation is not just about factories; it's about creating a vibrant community.
For those considering a move, Larissa offers a unique opportunity. The city's industrial expansion is not just about economic growth; it's about lifestyle changes. People are flocking to Larissa for both work and living, making it a dynamic place to call home.
As the industrial sector continues to thrive, the real estate market in Larissa is expected to follow suit. Investing in property here could be a smart move, given the ongoing developments and the increasing demand for housing.
Sources: Global Property Guide, MPRA (Munich Personal RePEc Archive)
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12) Volos is gaining interest for its strategic spot between Athens and Thessaloniki, promising property value growth
Volos is catching the eye of investors thanks to its prime spot between Athens and Thessaloniki.
Imagine being nestled right between Greece's two largest cities. Volos offers this unique advantage, making it a strategic choice for property buyers. This location not only means easy access to bustling urban centers but also hints at Volos becoming a future hub for transportation and infrastructure. With such potential, it's no wonder investors are taking notice.
Property prices in Volos are on the move. A cozy 1-bedroom apartment might set you back around €99,700, with rental yields hovering at 4.66%. This upward trend in prices signals growing interest, suggesting that buying now could pay off handsomely down the road. Compared to the steep prices in Athens and Thessaloniki, Volos offers a more budget-friendly option, making it a smart pick for those seeking value.
The Thessaly region, home to Volos, is seeing some economic action. While exact figures aren't available, the area's strategic location and economic diversification efforts hint at continued growth. This economic promise, coupled with government perks like tax breaks and subsidies, makes Volos even more tempting for investors.
Volos's appeal isn't just about location and price. The local economy is getting a boost from various sectors, including tourism and agriculture, which are thriving thanks to the region's natural beauty and fertile lands. These industries are contributing to the area's economic vitality, adding another layer of attraction for potential property buyers.
With its strategic position and economic potential, Volos is poised for property appreciation. Investors are drawn to the city's promise of growth and development, making it a compelling choice for those looking to invest in Greece's real estate market.
Sources: The Luxury Playbook, Enterprise Greece
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility. Finally, please note that we are not affiliated to any of the sources provided. Our analysis remains then 100% impartial.