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
This guide breaks down what rental yields you can realistically expect when investing in residential property across the Greek Islands in 2026.
We constantly update this blog post with fresh data from official Greek sources and leading real estate platforms, so the numbers you see reflect the current market.
Whether you're eyeing a studio in Rhodes or a villa in Mykonos, understanding yields, vacancy rates, and running costs is essential before you buy.
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.
Insights
- The Cyclades (including Mykonos and Santorini) show compressed gross yields around 3.4% in early 2026, while Crete prefectures often reach 5.5% to 6.5% thanks to year-round local demand.
- Short-term rental owners on Mykonos face roughly 47% of nights unoccupied across the year, which is why net yields don't jump as much as the summer nightly rates suggest.
- Maintenance costs eat more yield on Greek Islands properties than on the mainland because salt air, humidity, and wind cause faster wear on exteriors, AC units, and metalwork.
- Studios and one-bedroom apartments in island towns consistently deliver the best yield per euro invested, often outperforming larger units by 1 to 2 percentage points gross.
- The gap between gross and net yields in the Greek Islands typically runs 1.5 to 2 percentage points, mainly due to ENFIA property tax, seasonal vacancy, and higher maintenance.
- Premium micro-areas like Oia in Santorini or Psarou in Mykonos often yield below 3.5% gross because sky-high purchase prices outpace what even strong rents can deliver.
- Regional airport runway upgrades by Fraport Greece across Mykonos, Santorini, Rhodes, and Corfu could extend the tourism season and lift rents 5% to 15% in nearby neighborhoods.
- Full-service property management for short-term rentals in the Greek Islands commonly costs 15% to 25% of revenue, reflecting the higher operational intensity compared to long-term leases.
What are the rental yields in the Greek Islands as of 2026?
What's the average gross rental yield in the Greek Islands as of 2026?
As of early 2026, the average gross rental yield for residential properties across the Greek Islands sits at approximately 5%, meaning you can expect around 5,000 euros in annual rent for every 100,000 euros of property value.
Most typical residential properties in the Greek Islands fall within a realistic gross yield range of 4% to 6%, with non-luxury homes away from prime waterfronts landing squarely in this band.
Compared to mainland Greece, the Greek Islands show more variation by island group: the Cyclades average around 3.4% due to high prices, while Crete prefectures often reach 5.5% to 6.5% thanks to bigger year-round cities.
The single most important factor shaping gross rental yields in the Greek Islands right now is seasonality, because even strong summer rents get diluted when you spread them across a full year with quiet winter months.
What's the average net rental yield in the Greek Islands as of 2026?
As of early 2026, the average net rental yield for residential properties in the Greek Islands is approximately 3.3%, which reflects what landlords actually keep after covering all recurring costs.
The typical difference between gross and net rental yields in the Greek Islands runs about 1.5 to 2 percentage points, meaning a meaningful share of your rental income goes toward taxes, maintenance, and vacancy.
The expense category that most significantly reduces gross yield to net yield in the Greek Islands is maintenance and repairs, because salt air, humidity, and wind cause exteriors, AC units, and metalwork to wear faster than on the mainland.
Realistically, most standard investment properties in the Greek Islands deliver net yields between 2.5% and 4.5%, with the higher end achievable when you keep costs disciplined and secure reliable year-round tenants.
By the way, you will find much more detailed rent ranges in our property pack covering the real estate market in the Greek Islands.
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 the Greek Islands in 2026?
In the Greek Islands in 2026, a gross rental yield of 6% or higher is generally considered "good" by local investors, while anything above 7% is seen as very good and usually signals either a below-market purchase price or excellent short-term rental execution.
The threshold that typically separates average-performing properties from high-performing ones in the Greek Islands is that 6% gross mark, because below it you're essentially matching the island-wide average without much cushion for unexpected costs.
How much do yields vary by neighborhood in the Greek Islands as of 2026?
As of early 2026, gross rental yields in the Greek Islands can swing by 2 to 4 percentage points between premium micro-areas and more practical local neighborhoods, which is a huge difference when you're calculating long-term returns.
The neighborhoods that typically deliver the highest rental yields in the Greek Islands are those with year-round local demand but without trophy-level prices, such as Heraklion's residential zones in Crete, Rhodes Town's non-postcard pockets, and Ano Mera in Mykonos.
The neighborhoods that typically deliver the lowest rental yields in the Greek Islands are the famous luxury spots where purchase prices have soared, such as Oia and Imerovigli in Santorini, Psarou and Ornos in Mykonos, and Naoussa's premium pockets in Paros.
The main reason yields vary so much across neighborhoods in the Greek Islands is that purchase prices in prestige areas reflect lifestyle appeal and capital appreciation hopes, not just rental income potential, while rents can only stretch so far even in peak season.
By the way, we've written a blog article detailing what are the current best areas to invest in property in the Greek Islands.
How much do yields vary by property type in the Greek Islands as of 2026?
As of early 2026, gross rental yields across different property types in the Greek Islands range from roughly 3% for high-end villas up to around 6% or more for well-located studios and small apartments.
Studios and one-bedroom apartments currently deliver the highest average gross rental yield in the Greek Islands because they have lower purchase prices, attract a wide tenant pool, and fill more easily during shoulder seasons.
Villas currently deliver the lowest average gross rental yield in the Greek Islands because their high purchase prices, substantial maintenance costs for pools and gardens, and heavy dependence on peak-season bookings drag down annual returns.
The key reason yields differ between property types in the Greek Islands is that smaller units spread their fixed costs over more consistent rental demand, while larger properties face higher operational complexity and a shorter effective rental season.
By the way, you might want to read the following:
What's the typical vacancy rate in the Greek Islands as of 2026?
As of early 2026, the typical residential vacancy rate for long-term rentals in the Greek Islands runs approximately 6% to 10% annually, which translates to roughly 3 to 6 weeks empty per year under normal conditions.
Vacancy rates vary widely across different Greek Island neighborhoods, ranging from under 5% in year-round towns like Heraklion to effectively 47% for short-term rentals in seasonal markets like Mykonos when measured as unoccupied nights.
The main factor driving vacancy rates up or down in the Greek Islands is the presence of year-round economic activity, because islands with schools, hospitals, offices, and ports maintain steadier tenant demand outside the tourist season.
Compared to mainland Greece, the Greek Islands generally show higher vacancy rates due to their stronger dependence on seasonal tourism, though major island towns with diversified economies perform closer to national urban averages.
Finally please note that you will have all the indicators you need in our property pack covering the real estate market in the Greek Islands.
What's the rent-to-price ratio in the Greek Islands as of 2026?
As of early 2026, the average annual rent-to-price ratio in the Greek Islands sits at approximately 5%, which means if you buy a property for 200,000 euros, you can expect annual rent of around 10,000 euros before costs.
A rent-to-price ratio of 0.5% monthly (or 6% annually) is generally considered favorable for buy-to-let investors in the Greek Islands, and this ratio is essentially your gross yield expressed differently, so higher is better for cash flow.
Compared to other Mediterranean destinations, the Greek Islands' rent-to-price ratio falls in the middle range, lower than emerging markets where prices haven't caught up to rental demand but often higher than mature luxury markets on the French or Italian coasts.
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 the Greek Islands give the best yields as of 2026?
Where are the highest-yield areas in the Greek Islands as of 2026?
As of early 2026, the top highest-yield areas in the Greek Islands include Heraklion's practical residential zones in Crete, Rhodes Town's non-postcard neighborhoods, and parts of Chania outside the Venetian harbor core.
In these top-performing areas like Heraklion, Rhodes Town, and Rethymno residential zones, investors can typically find gross rental yields in the 5.5% to 6.5% range, with some opportunities pushing toward 7%.
The main characteristic these high-yield areas share is year-round local demand from residents, workers, and students, which keeps rental income flowing even when tourist season ends.
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 the Greek Islands.
Where are the lowest-yield areas in the Greek Islands as of 2026?
As of early 2026, the top lowest-yield areas in the Greek Islands are the trophy micro-areas including Oia and Imerovigli in Santorini, Psarou and Ornos in Mykonos, and premium beachfront strips in Corfu.
In these low-yield areas like Oia, Psarou, and Naoussa's premium pockets, gross rental yields typically fall between 2.5% and 3.5%, which can still work for investors focused on capital appreciation but doesn't deliver strong cash flow.
The main reason yields are compressed in these areas of the Greek Islands is that purchase prices reflect global luxury demand and lifestyle desirability, while rents hit a ceiling because even wealthy tourists won't pay unlimited nightly rates.
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 the Greek Islands.
Which areas have the lowest vacancy in the Greek Islands as of 2026?
As of early 2026, the top neighborhoods with the lowest residential vacancy rates in the Greek Islands are Heraklion center in Crete, Chania's urban residential areas, and Rhodes Town's working neighborhoods.
In these low-vacancy areas like Heraklion, Chania, and Rhodes Town, landlords typically experience vacancy rates under 5% annually, meaning properties stay occupied nearly year-round.
The main demand driver keeping vacancy low in these areas of the Greek Islands is the presence of year-round jobs, schools, hospitals, and government services, which creates a stable tenant base that doesn't disappear when summer ends.
The trade-off investors typically face when targeting these low-vacancy areas in the Greek Islands is that purchase prices per square meter are often higher than in surrounding villages, and rental growth may be slower because you're competing with more available inventory.
Which areas have the most renter demand in the Greek Islands right now?
The top neighborhoods currently experiencing the strongest renter demand in the Greek Islands are Mykonos Town and Ano Mera in Mykonos, Fira and areas near Kamari in Santorini, and Heraklion center and Chania urban area in Crete.
The renter profile driving most of the demand in these areas is a mix of seasonal hospitality workers who need affordable housing during tourist season, young professionals working in island services, and couples seeking year-round homes near jobs.
Rental listings in these high-demand Greek Island neighborhoods typically get filled within one to three weeks during peak leasing periods, with well-priced units in worker-accessible locations often renting within days.
If you want to optimize your cashflow, you can read our complete guide on how to buy and rent out in the Greek Islands.
Which upcoming projects could boost rents and rental yields in the Greek Islands as of 2026?
As of early 2026, the top infrastructure projects expected to boost rents in the Greek Islands are the regional airport runway upgrades across Mykonos, Santorini, Rhodes, and Corfu managed by Fraport Greece, plus Crete's new Kastelli airport project on track for 2027.
The neighborhoods most likely to benefit from these projects include Ano Mera in Mykonos near the airport corridor, Fira and Kamari in Santorini along improved access routes, and Heraklion's eastern suburbs positioned for Kastelli's eventual opening.
Once these projects are completed, investors might realistically expect rent increases of 5% to 15% in directly affected Greek Island neighborhoods, because better airport capacity and reliability extend the tourist season and make shoulder-month bookings more attractive.
You'll find our latest property market analysis about the Greek Islands here.
Get fresh and reliable information about the market in the Greek Islands
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What property type should I buy for renting in the Greek Islands as of 2026?
Between studios and larger units in the Greek Islands, which performs best in 2026?
As of early 2026, studios and one-bedroom units generally outperform larger apartments and houses in terms of rental yield and occupancy stability across the Greek Islands.
Studios in the Greek Islands typically deliver gross rental yields of 5% to 7% (around 5,000 to 7,000 euros or 5,200 to 7,300 USD annual rent per 100,000 euros invested), while larger two or three-bedroom units often fall to 4% to 5.5% gross.
The main factor explaining why studios outperform in the Greek Islands is their lower purchase price combined with consistent demand from seasonal workers, couples, and single professionals who need affordable housing year-round.
However, larger units become the better investment choice in the Greek Islands when you're targeting families on longer vacation stays or premium short-term rentals in villa markets like Mykonos and Paros, where higher nightly rates can offset the shorter effective season.
What property types are in most demand in the Greek Islands as of 2026?
As of early 2026, studios and one-bedroom apartments in town centers are the most in-demand property type across the Greek Islands because they fit the budgets and needs of the widest range of tenants.
The top three property types ranked by current tenant demand in the Greek Islands are: first, studios and one-bedroom apartments near services; second, two-bedroom apartments and maisonettes with parking for families; and third, small detached houses near towns offering privacy with convenience.
The primary demographic trend driving this demand pattern in the Greek Islands is the growth of seasonal hospitality employment and remote work, which has created a wave of younger workers and digital nomads seeking affordable, well-located rentals.
One property type currently underperforming in demand in the Greek Islands is the large villa segment in non-prime locations, because these properties require substantial maintenance and only appeal to a narrow slice of tourists during a short summer window.
What unit size has the best yield per m² in the Greek Islands as of 2026?
As of early 2026, the unit size range that delivers the best gross rental yield per square meter in the Greek Islands is between 30 and 55 square meters, which covers studios and compact one-bedroom apartments.
For that optimal unit size in the Greek Islands, typical gross rental yield per square meter works out to approximately 12 to 18 euros annually (around 12.50 to 18.75 USD), depending on location and condition.
The main reason smaller or larger units have lower yield per square meter in the Greek Islands is that very small units can be hard to rent except to short-stayers, while larger units above 90 square meters spread their rent across more floor space without proportionally higher monthly income.
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in the Greek Islands.
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 the Greek Islands as of 2026?
What are typical property taxes and recurring local fees in the Greek Islands as of 2026?
As of early 2026, the annual ENFIA property tax for a typical rental apartment in the Greek Islands runs approximately 300 to 800 euros (roughly 315 to 840 USD), depending on the property's size, location, and official zone values.
Beyond ENFIA, landlords in the Greek Islands must budget for municipal charges collected through utility bills and any building common-area fees, which together typically add another 100 to 300 euros (approximately 105 to 315 USD) annually.
These taxes and fees in the Greek Islands typically represent around 3% to 6% of gross rental income, with the percentage rising for lower-rent properties and falling for higher-yield units.
By the way, we cover all the hidden fees and taxes in our property pack covering the real estate market in the Greek Islands.
What insurance, maintenance, and annual repair costs should landlords budget in the Greek Islands right now?
The estimated annual landlord insurance cost for a typical rental property in the Greek Islands runs approximately 150 to 400 euros (roughly 160 to 420 USD), varying by coverage level, construction type, and proximity to the sea.
Landlords in the Greek Islands should budget approximately 0.8% to 1.5% of property value annually for maintenance and repairs, which for a 150,000 euro property means setting aside around 1,200 to 2,250 euros (roughly 1,260 to 2,360 USD) per year.
The type of repair expense that most commonly catches Greek Islands landlords off guard is exterior damage from salt air corrosion, including deteriorating window frames, rusting AC units, and flaking paint that all require attention more frequently than on the mainland.
The total combined annual cost landlords should realistically budget for insurance, maintenance, and repairs in the Greek Islands is approximately 1,500 to 3,000 euros (roughly 1,575 to 3,150 USD) for a standard rental property, with villas and older stone homes pushing higher.
Which utilities do landlords typically pay, and what do they cost in the Greek Islands right now?
For long-term rentals in the Greek Islands, tenants usually pay day-to-day utilities like electricity, water, and internet, while for short-term rentals, landlords typically cover all utilities as part of the nightly rate package.
When landlords cover utilities for short-term rentals in the Greek Islands, monthly costs typically run 80 to 200 euros (roughly 85 to 210 USD) per unit depending on season, air conditioning use, and property size, with summer months pushing toward the higher end.
What does full-service property management cost, including leasing, in the Greek Islands as of 2026?
As of early 2026, full-service property management fees for long-term rentals in the Greek Islands typically run 8% to 12% of collected rent monthly, while short-term rental management costs 15% to 25% of revenue due to the higher operational intensity.
On top of ongoing management in the Greek Islands, landlords usually pay a leasing or tenant-placement fee of approximately one month's rent (often 400 to 1,000 euros or roughly 420 to 1,050 USD) each time a new long-term tenant is secured.
What's a realistic vacancy buffer in the Greek Islands as of 2026?
As of early 2026, landlords in the Greek Islands should set aside approximately 8% to 15% of annual rental income as a vacancy buffer, with the higher end appropriate for properties heavily dependent on short-term tourism.
For long-term rentals in the Greek Islands, landlords typically experience 3 to 6 vacant weeks per year under normal conditions, while short-term rental owners should plan around their annual occupancy rate, which on a flagship island like Mykonos averages around 53%.
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.
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 | Greece's central bank publishes official real estate price indices that serve as the standard reference for market trends. | We used it to anchor the macro direction of property prices and rents across Greece. We also sanity-checked private-sector asking-price data against these official index trends. |
| ELSTAT | The Hellenic Statistical Authority is Greece's official national statistics agency and provides the cleanest baseline for housing indicators. | We used it to frame what rent growth and cost growth mean in early 2026. We also used it as an external check so island yields aren't interpreted without context. |
| Eurostat | Eurostat is the EU's official statistics body and its energy price series is widely reused and comparable across countries. | We used it to benchmark landlord and tenant utility budgets in Greece when modeling net yields. We also cross-checked against local utility billing structures. |
| Spitogatos Property Index | Spitogatos is the largest real estate classifieds platform in Greece and publishes transparent methodology for its price and rent indices. | We used it to estimate price per square meter and rent per square meter for island prefectures and groups. We then computed gross yields as annual rent divided by purchase price. |
| AirDNA | AirDNA is a widely used short-term rental analytics provider whose occupancy and revenue metrics are referenced by institutions and media. | We used it to estimate short-term rental occupancy and revenue potential in flagship Cyclades markets. We also quantified seasonality for vacancy assumptions in net yield modeling. |
| AADE (ENFIA) | AADE is Greece's Independent Authority for Public Revenue and the primary source for what property owners actually owe in taxes. | We used it to identify which recurring taxes apply to owners, with ENFIA being the main one. We then translated that into a practical annual yield deduction for net yield estimates. |
| AADE (Transfer Tax) | AADE provides the official rulebook for transfer tax rates and when they apply to property purchases in Greece. | We used it to explain one-off acquisition costs that affect true investment returns. We kept net yield discussions separate from total return after buying costs. |
| AADE (STR Law) | This is the legal text hosted by Greece's tax authority that defines short-term rental rules and obligations. | We used it to explain compliance constraints that can affect achievable yields including registration and reporting. We justified why STR net yields must include higher operating costs. |
| PPC (Public Power Corporation) | PPC is Greece's dominant electricity provider and clearly explains the bill components that property owners see in practice. | We used it to ground the utility payment section in how bills are actually structured. We also supported realistic landlord budgeting assumptions for net yield estimates. |
| INSETE | INSETE is the research arm linked to Greece's tourism industry bodies and publishes data-rich reports used by policymakers and firms. | We used it to link island rental demand to tourism volumes, which is key for STR yields. We also explained why some islands have stronger pricing power and lower effective vacancy. |
| Fraport Greece | Fraport operates 14 regional Greek airports and is the primary source for airport works that affect island accessibility. | We used it to identify near-term infrastructure disruptions and upgrades that can shift local rental patterns. We highlighted which islands may see improved capacity over time. |
| Mykonos Airport | This is the official airport operator page, so closures and works are posted directly at the source. | We used it to cite specific dates and operational impacts in early 2026. We translated that into practical notes on seasonality risk and booking patterns for STRs. |
| Santorini Airport | This is the official Santorini airport operator page providing direct information on operations and works. | We used it alongside Mykonos data to understand Cyclades accessibility constraints. We incorporated runway work timelines into our seasonality risk assessments. |
| GTP Headlines | GTP is a respected Greek travel and tourism news outlet that tracks major infrastructure developments. | We used it to reference Kastelli airport progress and its expected 2027 opening. We connected this to potential rent increases in Crete's eastern rental markets. |
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