How much do houses cost now in the Greek Islands? (2026)

Authored by the expert who managed and guided the team behind the Greece Property Pack

Yes, the analysis of the Greek Islands' property market is included in our pack

How much do houses cost in the Greek Islands as of 2026?

What's the median and average house price in the Greek Islands as of 2026?

As of early 2026, the median house price in the Greek Islands sits around €300,000 (roughly $325,000 or £250,000), while the average house price reaches approximately €380,000 ($410,000 or £315,000) because high-end villas in places like Mykonos and Santorini pull the average up.

Most house purchases in the Greek Islands fall within a price band of €180,000 to €650,000 ($195,000 to $700,000), which covers roughly 80% of transactions for livable family homes across different island groups.

The gap between median and average prices in the Greek Islands reveals a two-tier market where a handful of ultra-premium properties in the Cyclades push the average well above what a typical buyer actually pays.

At the median price of €300,000 in the Greek Islands, buyers can realistically expect a 100 to 130 square meter older stone house or villa with 2 to 3 bedrooms, often located in a mid-market island like parts of Crete, Rhodes, or a quieter Cycladic village away from the prime seafront.

What's the cheapest livable house budget in the Greek Islands as of 2026?

As of early 2026, the minimum budget for a livable house in the Greek Islands is around €120,000 to €160,000 ($130,000 to $175,000), though this requires looking beyond the famous tourist islands.

At this entry-level price point in the Greek Islands, "livable" typically means an older house of 70 to 100 square meters that needs no major structural work but may have dated kitchens, basic bathrooms, and older electrical systems that you can upgrade gradually.

The cheapest livable houses in the Greek Islands are usually found in inland villages of Lesvos, Samos, and Chios in the North Aegean, as well as non-seafront villages on larger islands like Crete and Rhodes where tourism demand is lower.

Wondering what you can get? We cover all the buying opportunities at different budget levels in the Greek Islands here.

How much do 2 and 3-bedroom houses cost in the Greek Islands as of 2026?

As of early 2026, a typical 2-bedroom house in the Greek Islands costs between €180,000 and €350,000 ($195,000 to $380,000), while a 3-bedroom house generally ranges from €250,000 to €520,000 ($270,000 to $560,000), with significant variation depending on the island.

For a 2-bedroom house in the Greek Islands, realistic prices range from €140,000 ($150,000) on value islands like Lesvos or inland Crete, up to €450,000 ($485,000) or more in sought-after Cycladic locations like Paros or Naxos near the coast.

A 3-bedroom house in the Greek Islands typically falls between €200,000 ($215,000) in affordable areas and €600,000 ($650,000) in mid-premium locations, with prices climbing much higher in Mykonos or Santorini.

Moving from a 2-bedroom to a 3-bedroom house in the Greek Islands usually adds a premium of 25% to 40% to the purchase price, reflecting both the extra space and the fact that larger houses tend to sit on better plots with more outdoor area.

How much do 4-bedroom houses cost in the Greek Islands as of 2026?

As of early 2026, a typical 4-bedroom house in the Greek Islands costs between €350,000 and €900,000 ($380,000 to $970,000), with prices starting lower on affordable islands and climbing steeply in the Cyclades and prime coastal areas.

A 5-bedroom house in the Greek Islands generally ranges from €600,000 to €2,000,000 ($650,000 to $2,150,000), depending heavily on location, with mid-market islands at the lower end and Mykonos or Paros villas at the top.

For a 6-bedroom house or large villa in the Greek Islands, buyers should expect to pay €1,000,000 to €4,000,000 ($1,080,000 to $4,300,000) or more, especially for properties with sea views, pools, and prime locations in places like Mykonos, Santorini, or top Corfu bays.

Please note that we give much more detailed data in our pack about the property market in the Greek Islands.

How much do new-build houses cost in the Greek Islands as of 2026?

As of early 2026, a new-build house in the Greek Islands typically costs 15% to 30% more than a comparable older property, meaning a new 3-bedroom villa might run €320,000 to €680,000 ($345,000 to $735,000) depending on the island and finish level.

The new-build premium in the Greek Islands reflects limited supply (building permits are constrained on many islands), modern energy efficiency, and the turnkey appeal that holiday buyers value, with the highest premiums found in the Cyclades where new construction is especially scarce and design-focused.

How much do houses with land cost in the Greek Islands as of 2026?

As of early 2026, a house with meaningful land in the Greek Islands typically costs 10% to 60% more than a similar house with minimal outdoor space, with prices starting around €220,000 ($240,000) for modest plots on affordable islands and climbing to €1,000,000+ ($1,080,000+) for larger parcels in premium locations.

In the Greek Islands, a "house with land" usually means a plot of 500 to 2,000 square meters or more, as many traditional houses sit on smaller lots of 200 to 400 m², so anything above 600 m² is considered a meaningful land holding with garden, expansion, or privacy value.

We cover everything there is to know about land prices in the Greek Islands here.

Where are houses cheapest and most expensive in the Greek Islands as of 2026?

Which neighborhoods have the lowest house prices in the Greek Islands as of 2026?

As of early 2026, the lowest house prices in the Greek Islands are found in inland villages of the North Aegean islands (Lesvos, Samos, Chios), interior villages of Naxos like Filoti and Apeiranthos, quieter parts of Syros and Andros, and inland Rhodes or Kos away from beach resorts.

In these cheapest areas of the Greek Islands, typical house prices range from €100,000 to €200,000 ($108,000 to $215,000) for a 2 to 3-bedroom older home, making them accessible for budget-conscious buyers willing to live away from the tourist strips.

These neighborhoods have lower house prices in the Greek Islands primarily because they lack the short-term rental income potential and global brand recognition that drive prices in places like Mykonos, which means year-round residents and long-term buyers dominate rather than holiday investors.

Which neighborhoods have the highest house prices in the Greek Islands as of 2026?

As of early 2026, the three areas with the highest house prices in the Greek Islands are Mykonos (especially Psarou, Ornos, and Agios Lazaros), the caldera side of Santorini (Oia, Imerovigli, Firostefani), and the prime coastal pockets of Paros and Antiparos (Naoussa, Kolymbithres).

In these most expensive Greek Islands neighborhoods, typical house prices range from €800,000 to well over €5,000,000 ($865,000 to $5,400,000+), with trophy seafront villas regularly exceeding €8,000,000 in Mykonos and caldera-view properties in Santorini.

These neighborhoods command the highest prices in the Greek Islands because they combine irreplaceable natural settings (caldera cliffs, world-famous beaches), severe building restrictions that limit new supply, and a global reputation that attracts buyers from every continent willing to pay premium prices.

The typical buyer in these premium Greek Islands neighborhoods is either a high-net-worth individual seeking a second home for personal use, or an investor focused on ultra-luxury short-term rentals that can generate €1,000+ per night during peak season.

How much do houses cost near the city center in the Greek Islands as of 2026?

As of early 2026, houses near the main towns (Chora/Old Town areas) of popular Greek Islands like Mykonos Town, Corfu Town, Chania Old Town, Rhodes Town, and Fira typically cost 10% to 35% more than the island average, with prices ranging from €350,000 to €900,000 ($380,000 to $970,000) depending on the island.

Near major transit hubs in the Greek Islands like Tourlos/New Port in Mykonos, Parikia Port in Paros, or the Akrotiri area near Chania airport, house prices typically range from €280,000 to €600,000 ($300,000 to $650,000), with convenient access adding roughly 5% to 20% to the price.

Houses near top-rated schools in the Greek Islands, such as the School of European Education in Heraklion and Theodoropoulou Schools in Chania (both on Crete), command prices of €250,000 to €500,000 ($270,000 to $540,000) in surrounding family-friendly neighborhoods.

In expat-popular areas of the Greek Islands like Kassiopi and Dassia in Corfu, Chania's old town and north coast in Crete, and Naoussa in Paros, house prices typically range from €400,000 to €1,200,000 ($430,000 to $1,300,000) due to established international buyer demand and better English-language services.

We actually have an updated expat guide for the Greek Islands here.

How much do houses cost in the suburbs in the Greek Islands as of 2026?

As of early 2026, houses in the "suburbs" of Greek Islands (meaning areas outside the main town and primary beach strips) typically cost €180,000 to €400,000 ($195,000 to $430,000), offering significant savings compared to prime locations.

The typical price difference between suburban houses and town-center or beachfront houses in the Greek Islands is 10% to 25% lower, though this discount disappears quickly if the suburban area still has sea views or is close to a popular beach.

The most popular suburbs for house buyers in the Greek Islands include inland villages of Naxos and Paros in the Cyclades, the hillside areas above Chania and Heraklion in Crete, and the quieter residential zones behind the resort strips in Rhodes and Corfu.

What areas in the Greek Islands are improving and still affordable as of 2026?

As of early 2026, the top improving yet affordable areas for house buyers in the Greek Islands include Syros, Tinos, and Andros in the Cyclades, inland Crete outside the premium north-coast bays, and parts of Naxos away from Chora and the main beaches.

In these improving but still affordable Greek Islands areas, current house prices typically range from €180,000 to €350,000 ($195,000 to $380,000) for a 2 to 3-bedroom home, which is substantially below what similar houses cost in Mykonos, Paros, or Santorini.

The main sign of improvement driving buyer interest in these areas is the arrival of better ferry connections, new boutique hotels, and upgraded dining and retail options that signal growing tourism appeal without yet triggering the price explosion seen on the most famous islands.

By the way, we've written a blog article detailing what are the current best areas to invest in property in the Greek Islands.

What extra costs should I budget for a house in the Greek Islands right now?

What are typical buyer closing costs for houses in the Greek Islands right now?

Typical total closing costs for house buyers in the Greek Islands range from 7% to 12% of the purchase price, meaning a €300,000 house will have additional costs of roughly €21,000 to €36,000 ($23,000 to $39,000) before you factor in any renovations or mortgage expenses.

The main closing cost categories in the Greek Islands include transfer tax or VAT (depending on the property), notary fees, legal and due diligence costs, and cadastre registration fees, with transfer tax or VAT typically being the single largest component.

The largest closing cost for house buyers in the Greek Islands is usually the transfer tax (currently around 3% of the declared value) or, for certain new builds, VAT which can be higher, though a suspension has been extended through December 2026 for some properties.

We cover all these costs and what are the strategies to minimize them in our property pack about the Greek Islands.

How much are property taxes on houses in the Greek Islands right now?

Annual property tax (called ENFIA) on a house in the Greek Islands typically ranges from a few hundred euros per year for a modest home on an affordable island, up to €1,000 to €2,000+ ($1,080 to $2,150+) per year for higher-value coastal properties on premium islands like Mykonos or Santorini.

Property tax in the Greek Islands is calculated using a formula that considers the property's official zone value (set by the government), the size of the house and land, the age of the building, and the specific location, which is why two similar houses on different islands can have very different ENFIA bills.

If you want to go into more details, we also have a page with all the property taxes and fees in the Greek Islands.

How much is home insurance for a house in the Greek Islands right now?

Annual home insurance for a typical owner-occupied house in the Greek Islands costs between €250 and €900 ($270 to $970), while high-value sea-view villas often require €1,200+ ($1,300+) per year to insure properly against risks like earthquakes and wildfires.

The main factors affecting home insurance premiums in the Greek Islands include the rebuild value of the property, exposure to earthquake and wildfire risk, distance from fire services, construction materials (stone vs. wood), and whether you add contents and liability coverage.

What are typical utility costs for a house in the Greek Islands right now?

Total monthly utility costs for a house in the Greek Islands typically range from €150 to €350 ($160 to $380) during shoulder months, but can spike to €300 to €600+ ($325 to $650+) during summer when air conditioning runs heavily and pool equipment operates.

The main utility categories for a house in the Greek Islands include electricity at €80 to €250 per month ($85 to $270) depending on season and A/C use, water at €20 to €80 ($22 to $85) per month, and internet at €25 to €45 ($27 to $50) per month, with electricity being the largest variable cost.

What are common hidden costs when buying a house in the Greek Islands right now?

Common hidden costs that house buyers in the Greek Islands often overlook can total €3,000 to €10,000+ ($3,250 to $10,800+), covering items like engineering inspections, energy certificates, boundary surveys, legal clean-up work, and immediate repairs that only become apparent after purchase.

Typical inspection fees for a house in the Greek Islands range from €400 to €1,200 ($430 to $1,300) for a standard technical survey, with higher costs for complex villas, large plots, or properties requiring specialist assessments for structural issues or retaining walls.

Other common hidden costs beyond inspections when buying a house in the Greek Islands include Energy Performance Certificates (required for most sales), topographic surveys to verify plot boundaries, septic system upgrades, water storage improvements, and legal fees to resolve title inconsistencies or access road easements.

The hidden cost that surprises first-time house buyers most in the Greek Islands is often the need for septic tank or water cistern work, since many island homes lack municipal sewage connections and water supply can be intermittent, requiring private infrastructure that mainland buyers rarely think about.

You will find here the list of classic mistakes people make when buying a property in the Greek Islands.

What do locals and expats say about the market in the Greek Islands as of 2026?

Do people think houses are overpriced in the Greek Islands as of 2026?

As of early 2026, sentiment among locals and expats in the Greek Islands is split: buyers on top islands like Mykonos and Santorini often feel prices are "high but justified" by global scarcity and demand, while those on less famous islands feel the market has been pushed up beyond local incomes by tourism and short-term rental economics.

Houses in the Greek Islands typically stay on the market for 3 to 9 months before selling, with correctly priced prime villas often moving in weeks during the pre-summer rush, while overpriced or legally complicated properties can sit for 12 to 18 months or longer.

The main reason locals give for feeling house prices are too high in the Greek Islands is that short-term rental platforms have made it more profitable for sellers to hold out for holiday-buyer prices, which disconnects the market from what year-round residents can actually afford.

Compared to one or two years ago, sentiment on house prices in the Greek Islands has shifted from "rapid growth" to "still expensive but stabilizing," as the initial post-pandemic surge has moderated and buyers are becoming more selective about overpaying for properties that need work.

You'll find our latest property market analysis about the Greek Islands here.

Are prices still rising or cooling in the Greek Islands as of 2026?

As of early 2026, house prices in the Greek Islands are still rising overall but at a more moderate pace than the rapid growth seen in 2022 to 2024, with the market shifting from "hot" to "warm" as higher financing costs and buyer selectivity temper demand.

The estimated year-over-year house price change in the Greek Islands as of early 2026 is around 5% to 8%, down from double-digit growth in previous years, with the Cyclades still outperforming and more affordable islands seeing slower but steady appreciation.

Experts and locals expect house prices in the Greek Islands over the next 6 to 12 months to continue rising modestly in prime locations while potentially flattening or softening slightly in overbuilt or less desirable areas, as the market digests recent gains and interest rates remain elevated.

Finally, please note that we have covered property price trends and forecasts for the Greek Islands here.

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 the Greek Islands, 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.