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
Villa prices in the Greek Islands vary dramatically depending on whether you're looking at a quiet family retreat or a high-end property on a famous island like Mykonos or Santorini.
In this blog post, we break down real price data, explain what drives costs up or down, and share the hidden fees foreigners often miss.
We constantly update this blog post to reflect the latest market conditions and pricing trends.
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 the Greek Islands.
How much do villas cost in the Greek Islands in 2026?
What is the median and average price for villas in the Greek Islands in 2026?
As of early 2026, the median villa price across the Greek Islands sits around €700,000 (approximately $770,000 or £590,000), while the average villa price reaches roughly €1.15 million ($1.27 million or £970,000) due to expensive properties on trophy islands pulling the numbers up.
The gap between median and average villa prices in the Greek Islands is significant because a small number of ultra-premium villas on Mykonos and Santorini, often priced above €3 million, dramatically inflate the average while most buyers find properties closer to the median.
Compared to similar Mediterranean island markets, the Greek Islands offer a middle ground: villas here generally cost less than the Balearic Islands in Spain or the French Riviera, but more than Croatian islands or the Turkish Aegean coast.
What is the typical price range for villas in the Greek Islands in 2026?
As of early 2026, the typical price range for villas in the Greek Islands spans from €250,000 ($275,000) for modest inland properties to €1.8 million ($2 million) for prime coastal homes, with most foreign buyers spending between €450,000 and €800,000 ($495,000 to $880,000).
The average asking price per square meter for villas in the Greek Islands in 2026 hovers around €4,200/sqm ($4,600/sqm), though this varies from about €1,500/sqm on affordable islands to over €7,600/sqm in Mykonos.
To buy a livable villa in the Greek Islands in 2026, you'll need a minimum budget of around €250,000 to €350,000 ($275,000 to $385,000), which typically gets you a smaller, older property in an inland location on a less touristy island.
A "luxury villa" in the Greek Islands in 2026 is generally defined as any property priced above €1.5 million ($1.65 million), though on Mykonos and Santorini, true luxury often starts at €2 million ($2.2 million) or higher.
You'll find much more detailed data in our pack about the property market in the Greek Islands.
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How do villa prices vary by area in the Greek Islands in 2026?
Which neighborhoods have the most expensive villas in the Greek Islands in 2026?
As of early 2026, the most expensive villa neighborhoods in the Greek Islands include Psarou, Ornos, and Agios Ioannis in Mykonos, Oia and Imerovigli in Santorini, Kassiopi and Kommeno in Corfu, and Elounda in Crete.
In these premium neighborhoods, villa prices in 2026 typically range from €1.5 million to €5 million ($1.65 million to $5.5 million), with exceptional seafront or caldera-view properties occasionally exceeding €10 million ($11 million).
What makes these Greek Islands neighborhoods command such premium prices is a combination of legally buildable land scarcity, unobstructed sea or caldera views, and proven short-term rental income potential that allows buyers to offset ownership costs.
Where are the most affordable villa areas in the Greek Islands in 2026?
As of early 2026, the most affordable areas for villas in the Greek Islands include inland villages on Lesvos, Samos, and Evia, the non-prime zones of Rhodes away from Lindos, and rural parts of Heraklion prefecture in Crete.
In these more affordable Greek Islands areas, villa prices in 2026 typically range from €150,000 to €400,000 ($165,000 to $440,000), with some renovation projects available for under €200,000 ($220,000).
The main trade-offs when buying villas in these affordable Greek Islands areas include longer travel times to airports and ports, less developed tourist infrastructure, limited rental income potential, and sometimes older properties that need renovation work.
You should know that we have a page with a list of best areas to buy real estate in the Greek Islands.
How big are price gaps between villa neighborhoods in the Greek Islands in 2026?
As of early 2026, the price gap between the most expensive and most affordable villa neighborhoods in the Greek Islands can reach 5 to 6 times, with prime Mykonos villas at €7,600/sqm compared to inland Evia properties at roughly €1,200/sqm.
The typical price difference between neighboring villa areas within the same Greek island often ranges from 30% to 100%, meaning a property just a few kilometers inland can cost half as much as one with direct sea access.
The main factor creating such price disparities between villa neighborhoods in the Greek Islands is proximity to the sea combined with view quality, as buyers and renters pay significant premiums for unobstructed water views and easy beach access.
These neighborhood price gaps in the Greek Islands have been widening in recent years, particularly since 2021, as international demand has concentrated on a handful of famous islands while more remote areas have seen slower growth.
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 types of villas exist in the Greek Islands and how do prices differ?
What are the different villa types in the Greek Islands?
The main villa types in the Greek Islands include traditional stone village houses (often renovated), whitewashed Cycladic-style villas with minimalist design, modern resort-style villas built for rental income, and rare true beachfront properties with direct sea access.
Traditional renovated stone villas generally offer the best value for money in the Greek Islands because they sit in established villages with character, cost less per square meter than new builds, and appreciate well when properly restored.
Among foreign buyers in the Greek Islands, the most popular villa type is the modern resort-style property with a private pool, outdoor living areas, and multiple bedrooms, because these are turnkey investments ready for both personal use and short-term rentals.
Are off-plan villas cheaper than completed ones in the Greek Islands in 2026?
As of early 2026, off-plan villas in the Greek Islands are typically 10% to 20% cheaper than comparable completed properties, though buyers face added risks from construction delays, permitting issues, and the difficulty of verifying build quality remotely.
Most foreign buyers in the Greek Islands prefer to purchase completed villas rather than off-plan properties because they can physically inspect the home, verify legal status immediately, and avoid the stress of managing a remote construction project on an island.
As of early 2026, the highest concentration of new villa developments in the Greek Islands is found just outside protected historic cores in places like eastern Crete near Elounda, the expanding coastal areas of Rhodes, and the fringes of established resort zones in Corfu.
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Which features increase villa prices the most in the Greek Islands?
How much does sea view increase villa prices in the Greek Islands in 2026?
As of early 2026, a good sea view typically adds 15% to 35% to villa prices in the Greek Islands compared to similar properties without views, while a signature view like the Santorini caldera or a famous sunset panorama can push the premium to 40% to 80%.
In practical terms, a sea view adds roughly €100,000 to €250,000 ($110,000 to $275,000) to an average villa purchase in the Greek Islands, though in prime locations like Mykonos this premium can exceed €500,000 ($550,000).
Is private pool a major price driver for villas in the Greek Islands in 2026?
As of early 2026, villas with private pools in the Greek Islands command a price premium of approximately 5% to 12% over comparable properties without pools, with the premium being higher on rental-focused islands like Mykonos.
In absolute terms, a private pool adds roughly €35,000 to €85,000 ($38,500 to $93,500) to a villa's value in the Greek Islands, though the construction cost of adding a pool is often lower than this premium.
Approximately 40% to 50% of villas marketed to foreign buyers in the Greek Islands come with private pools as a standard feature, though this percentage rises to over 70% in prime tourist areas where rental income is a priority.
Infinity pools and larger pools do command higher premiums in the Greek Islands, typically adding an extra 3% to 8% on top of the standard pool premium, especially when they enhance views or are designed as architectural features.
What are other features adding a lot of value to villas in the Greek Islands?
Beyond sea views and pools, the top five features that add the most value to villas in the Greek Islands are legal clarity with all permits in order, easy road access near an airport or port, multiple separate bedroom suites for rentals, outdoor dining and entertainment areas, and energy-efficient cooling systems.
Villas with large private gardens or professionally landscaped outdoor spaces in the Greek Islands typically command a 5% to 15% price premium, with the value being highest on islands where land is scarce and mature landscaping is difficult to establish.
For villa owners in the Greek Islands, the features that provide the best return on investment are legal documentation clarity (which reduces buyer friction and supports resale value) and rental-ready layouts with multiple en-suite bedrooms, because these directly increase both liquidity and income potential.
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.
What extra costs are hidden behind villa prices in the Greek Islands?
How much are purchase taxes and fees for villas in the Greek Islands in 2026?
As of early 2026, the total purchase taxes and fees for villas in the Greek Islands add up to approximately 6% to 9% of the purchase price, which means a €700,000 villa will have €42,000 to €63,000 ($46,200 to $69,300) in additional closing costs.
The main categories of taxes and fees for villa buyers in the Greek Islands include the 3% property transfer tax, notary fees of roughly 1% to 1.5%, land registry or cadastre registration fees of 0.5% to 0.7%, and agent commissions typically around 2%.
For legal and notary fees specifically, villa buyers in the Greek Islands should budget €7,000 to €15,000 ($7,700 to $16,500) depending on the property value and complexity, as notarial involvement is legally required for all property transfers in Greece.
If you want to go into more details, we also have a page detailing all the property taxes and fees in the Greek Islands.
What are typical annual maintenance costs for villas in the Greek Islands?
The typical annual maintenance cost for a standard villa in the Greek Islands runs between 1.5% and 3.5% of the property value, meaning a €700,000 villa costs roughly €10,500 to €24,500 ($11,500 to $27,000) per year to maintain properly.
The main categories of recurring maintenance expenses for villas in the Greek Islands include the annual ENFIA property tax, routine repairs accelerated by salt air and sun exposure, garden and terrace upkeep, insurance, and utility costs for water and electricity.
Pool maintenance specifically costs villa owners in the Greek Islands between €1,500 and €4,000 ($1,650 to $4,400) per year, covering chemicals, cleaning, equipment servicing, and winterization if the villa is not used year-round.
Unexpected or often-overlooked maintenance costs for villa owners in the Greek Islands include white wall repainting every 2 to 3 years due to sun damage, air conditioning servicing in hot climates, septic system maintenance in areas without municipal sewage, and pest control for insects attracted by warm weather.
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What insider pricing realities should foreigners know in the Greek Islands?
Are villa asking prices usually negotiable in the Greek Islands in 2026?
As of early 2026, villa asking prices in the Greek Islands are generally negotiable, especially for properties that have been on the market for several months, need renovation work, or have legal documentation issues that create friction for buyers.
In most of the Greek Islands market, buyers can realistically expect to negotiate 5% to 10% off the asking price, though in ultra-prime locations like Mykonos or caldera-view Santorini properties with multiple interested parties, discounts of more than 5% are rare.
Are real estate agents reliable for villas in the Greek Islands right now?
Real estate agents dealing with villas in the Greek Islands vary significantly in reliability, with well-established agencies on major islands generally being professional and knowledgeable, while smaller operators on less touristy islands may have more limited due diligence practices.
The most common issues buyers have with villa agents in the Greek Islands include incomplete disclosure of legal complications such as boundary disputes or permit problems, pressure to close quickly during peak season, and occasional cases where properties are listed by multiple agents at different prices.
The typical agent commission rate for villa transactions in the Greek Islands is around 2%, sometimes paid by the buyer, sometimes split, and occasionally negotiable depending on the property value and agency.
Dealing with a bad agent is one of the mistakes people sometimes make when buying a property in the Greek Islands.
Do foreigners usually overpay for villas in the Greek Islands?
Foreigners buying villas in the Greek Islands often pay a premium of 10% to 20% compared to what informed local buyers would pay for similar properties, though this gap can be minimized with proper research and professional support.
The main reasons foreigners tend to overpay for villas in the Greek Islands are emotional decision-making driven by beautiful photos and vacation memories, limited knowledge of true comparable prices, rushing to close during a short holiday visit, and not negotiating assertively enough.
Hiring a local representative or independent lawyer absolutely helps foreigners get better villa prices in the Greek Islands, as they can verify legal status, identify comparable sales, negotiate in Greek, and flag issues that might otherwise be used to justify an inflated asking price.
By the way, we have built our pack covering the property buying process in the Greek Islands also because a lot of foreign buyers make big mistakes (such as overpaying for a villa).
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 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.
| Source | Why It's Authoritative | How We Used It |
|---|---|---|
| Bank of Greece Real Estate Statistics | Greece's central bank and official source for property market monitoring. | We used it to anchor the overall direction of Greek residential prices. We verified our island estimates against this national baseline. |
| Spitogatos Property Index | Greece's leading property portal with transparent regional pricing tables. | We used it as our main source for island-by-island €/sqm data. We calculated villa budgets by combining these figures with typical villa sizes. |
| Indomio Mykonos Snapshot | Major European portal publishing repeatable market snapshots by municipality. | We used it to pin down prime-island pricing for Mykonos at €7,674/sqm. We defined what top-end island pricing looks like using this benchmark. |
| Indomio Santorini Snapshot | Same reliable methodology applied to Santorini's luxury market. | We used it to anchor Santorini's €/sqm levels for caldera-view properties. We kept Mykonos vs Santorini comparisons grounded in real numbers. |
| AADE Greek Tax Authority | Official government source for property transfer tax rates. | We used it to confirm the 3% transfer tax that all buyers pay. We built our closing cost estimates around this official figure. |
| ELSTAT Building Activity Data | Greece's official statistics authority for construction and permits. | We used it to explain why new villa supply stays limited on islands. We supported our scarcity-driven pricing explanations with this data. |
| BIS via FRED Property Prices | International standardized dataset distributed by a major central bank portal. | We used it as an external cross-check for Greece's price cycle. We made sure our estimates didn't contradict international data sources. |
| TaxLaw Property Transfer Guide | Specialist legal practice with detailed fee breakdowns and examples. | We used it to estimate registration fees and typical broker commissions. We kept tax-rate truth anchored to official AADE sources. |
| Hellenic Cadastre Portal | Greek government's official land registration entry point. | We used it to explain that cadastre registration is mandatory in transactions. We framed timing and administrative costs as part of the true purchase price. |
| Hellenic Notary Association | Official professional body describing the notary's legal role. | We used it to explain why notary costs are unavoidable in Greek property sales. We supported our fee estimates with this institutional context. |
Buying real estate in the Greek Islands 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.
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