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
If you're thinking about renting a property or investing in one in the Greek Islands, you're probably wondering what the actual rents look like right now.
This blog post breaks down everything you need to know about residential rents across the Greek Islands in January 2026, from studio apartments to 2-bedrooms, and from Mykonos to Crete.
We update this article regularly to keep the numbers 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 the Greek Islands.
Insights
- Rents in the Cyclades islands like Mykonos and Santorini run about 25% to 35% higher than the Greek Islands average, largely because short-term rental competition squeezes the long-term supply.
- A typical long-term studio in the Greek Islands costs around €300 per month in 2026, but that same studio in Mykonos Town could easily cost €400 or more.
- Vacancy rates on the Greek Islands hover around 4% on average, but on tourism-heavy islands, good units can feel nearly impossible to find during peak season.
- Year-over-year rent growth across the Greek Islands in 2026 sits at roughly 5%, though Corfu and parts of Crete are seeing gains closer to 7%.
- University towns like Rethymno and Corfu Town see rental demand spike sharply in September and October when students return for the academic year.
- Furnished apartments are much more common on tourism-heavy islands like Santorini, where landlords often switch between seasonal and long-term tenants.
- The rent per square meter in the Greek Islands averages about €9.50 in 2026, but premium areas like Chania Old Town or Fira can push past €12 per square meter.
- Families looking for 2-bedroom apartments in the Greek Islands typically pay between €700 and €1,050 per month depending on the island and neighborhood.
- Greece's ENFIA property tax for a typical island apartment runs between €300 and €1,000 per year, depending on the property's location and value.
- Expats in the Greek Islands tend to cluster in Chania, Corfu Town, and Paros, where healthcare access, airport connections, and year-round communities are strongest.
What are typical rents in the Greek Islands as of 2026?
What's the average monthly rent for a studio in the Greek Islands as of 2026?
As of early 2026, the average monthly rent for a studio apartment in the Greek Islands is around €300, which works out to roughly $330 USD.
Most studios in the Greek Islands rent for somewhere between €220 and €420 per month (about $240 to $460 USD), depending on the island and exact location.
The main factors that cause studio rents to vary in the Greek Islands are the island's tourism popularity, proximity to ports or town centers, and whether the unit comes furnished or unfurnished.
What's the average monthly rent for a 1-bedroom in the Greek Islands as of 2026?
As of early 2026, the average monthly rent for a 1-bedroom apartment in the Greek Islands is approximately €500, or about $550 USD.
Realistic 1-bedroom rents in the Greek Islands range from €380 to €700 per month (roughly $420 to $770 USD), with the wide spread reflecting island-to-island differences.
The cheapest 1-bedroom rents in the Greek Islands tend to be on smaller, less-connected islands and inland areas of Crete, while premium spots like Mykonos Town, Fira in Santorini, and Chania Old Town command the highest prices.
What's the average monthly rent for a 2-bedroom in the Greek Islands as of 2026?
As of early 2026, the average monthly rent for a 2-bedroom apartment in the Greek Islands is around €725, which equals approximately $800 USD.
Most 2-bedroom apartments in the Greek Islands rent for between €550 and €1,050 per month (about $600 to $1,155 USD), with the range depending heavily on the specific island and neighborhood.
The most affordable 2-bedroom rentals in the Greek Islands are typically found in residential neighborhoods outside main towns on islands like Rhodes or inland Crete, while the priciest 2-bedrooms are in Cyclades hotspots like Naoussa in Paros or the Venetian Harbor area in Chania.
By the way, you will find much more detailed rent ranges in our property pack covering the real estate market in the Greek Islands.
What's the average rent per square meter in the Greek Islands as of 2026?
As of early 2026, the average rent per square meter in the Greek Islands is approximately €9.50 per month, which translates to about $10.45 USD per square meter.
Rent per square meter in the Greek Islands ranges from around €8 to €12 (roughly $8.80 to $13.20 USD), with the Cyclades at the high end and less touristic islands at the lower end.
Compared to mainland Greek cities like Athens, where rents per square meter can reach €10 to €14 in central areas, the Greek Islands are generally comparable, though islands like Mykonos and Santorini match or exceed Athens pricing.
Properties that push rent per square meter above average in the Greek Islands typically have sea views, outdoor terraces, dedicated parking, or are located within walking distance of ports and old towns.
How much have rents changed year-over-year in the Greek Islands in 2026?
As of early 2026, rents across the Greek Islands have increased by approximately 5% year-over-year, with a realistic range of 3% to 8% depending on the island.
The main factors driving rent increases in the Greek Islands in 2026 are continued tourism pressure, limited new housing supply due to geographic constraints, and ongoing regulatory changes around short-term rentals that affect availability.
This 5% growth rate is slightly lower than the 6% to 7% increases seen in 2024 and early 2025, suggesting the market is stabilizing somewhat, though certain islands like Corfu continue to see above-average growth.
What's the outlook for rent growth in the Greek Islands in 2026?
As of early 2026, projected rent growth for the Greek Islands over the coming year is estimated at 3% to 6%, with Cyclades hotspots likely at the higher end of that range.
Key factors influencing rent growth in the Greek Islands include ongoing housing affordability pressures, government measures targeting short-term rental regulations, and steady demand from remote workers and expats seeking island living.
Neighborhoods expected to see the strongest rent growth in the Greek Islands include Chania Old Town, Corfu Town center, and the port areas of Paros, where demand consistently outpaces supply.
Risks that could cause rent growth to differ from projections include potential economic slowdowns affecting tourism, stricter short-term rental rules pushing more units to long-term markets, or unexpected changes in energy costs affecting overall housing expenses.
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 rent best in the Greek Islands as of 2026?
Which neighborhoods have the highest rents in the Greek Islands as of 2026?
As of early 2026, the neighborhoods with the highest average rents in the Greek Islands are Mykonos Town (Chora), Fira and Oia in Santorini, and Chania Old Town in Crete, where monthly rents for a 1-bedroom can reach €650 to €750 (about $715 to $825 USD).
These high-rent neighborhoods in the Greek Islands command premium prices because they combine historic charm, walkability, vibrant dining and nightlife, and extreme scarcity of available long-term units due to short-term rental competition.
Tenants who typically rent in these expensive Greek Islands neighborhoods are high-earning remote workers, business owners in the hospitality sector, and expats seeking a prestigious island lifestyle with year-round amenities.
By the way, we've written a blog article detailing what are the current best areas to invest in property in the Greek Islands.
Where do young professionals prefer to rent in the Greek Islands right now?
Young professionals in the Greek Islands tend to cluster in Heraklion city center, Chania's Nea Chora and Koum Kapi neighborhoods, and Rhodes Town near the Mandraki harbor area.
In these neighborhoods popular with young professionals in the Greek Islands, typical monthly rents range from €400 to €550 (approximately $440 to $605 USD) for a 1-bedroom apartment.
What attracts young professionals to these Greek Islands neighborhoods is the combination of year-round employment opportunities, reliable bus connections, active nightlife, and access to cafes and coworking-friendly spaces.
By the way, you will find a detailed tenant analysis in our property pack covering the real estate market in the Greek Islands.
Where do families prefer to rent in the Greek Islands right now?
Families in the Greek Islands tend to prefer suburban neighborhoods in Chania and Heraklion on Crete, the Gouvia corridor in Corfu, and residential districts of Rhodes Town like Ixia.
In these family-friendly areas of the Greek Islands, 2-3 bedroom apartments typically rent for €700 to €900 per month (about $770 to $990 USD).
These neighborhoods attract families in the Greek Islands because they offer larger apartments with parking, quieter streets, proximity to schools, and newer building stock with modern amenities.
Top-rated schools near family-friendly neighborhoods in the Greek Islands include international and bilingual schools in Chania and Heraklion, as well as well-regarded public schools in the suburban districts of Corfu and Rhodes.
Which areas near transit or universities rent faster in the Greek Islands in 2026?
As of early 2026, the areas near universities and transit that rent fastest in the Greek Islands are Rethymno near the University of Crete campus, Corfu Town near the Ionian University, and central Heraklion near major bus hubs.
In these high-demand areas of the Greek Islands, rental properties typically stay listed for just 10 to 15 days during peak leasing seasons, compared to 30 days or more in quieter locations.
Properties within walking distance of universities or central transit in the Greek Islands typically command a rent premium of €50 to €100 per month (roughly $55 to $110 USD) compared to similar units further out.
Which neighborhoods are most popular with expats in the Greek Islands right now?
The most popular neighborhoods with expats in the Greek Islands are Chania Old Town and the nearby Halepa district in Crete, the Dassia and Gouvia area in Corfu, and Naoussa and Parikia on Paros.
Expats in these Greek Islands neighborhoods typically pay €500 to €750 per month (approximately $550 to $825 USD) for a comfortable 1 or 2-bedroom apartment.
These neighborhoods attract expats to the Greek Islands because they offer reliable healthcare access, good airport connections for travel back home, established international communities, and year-round services that don't shut down in winter.
The most represented nationalities in these expat-popular Greek Islands neighborhoods include British, German, French, American, and Northern European retirees and remote workers.
And if you are also an expat, you may want to read our exhaustive guide for expats in the Greek Islands.
Get fresh and reliable information about the market in the Greek Islands
Don't base significant investment decisions on outdated data. Get updated and accurate information with our guide.
Who rents, and what do tenants want in the Greek Islands right now?
What tenant profiles dominate rentals in the Greek Islands?
The three dominant tenant profiles in the Greek Islands rental market are local year-round workers, seasonal hospitality staff, and students attending island universities.
Local workers make up roughly 45% of long-term tenants in the Greek Islands, seasonal workers account for about 30%, and students represent around 15%, with expats and remote workers filling the remaining 10%.
Local workers in the Greek Islands typically seek unfurnished 1 or 2-bedroom apartments near town centers, seasonal staff often need furnished studios or shared housing close to hotels and restaurants, and students look for affordable furnished studios or room shares near campus.
If you want to optimize your cashflow, you can read our complete guide on how to buy and rent out in the Greek Islands.
Do tenants prefer furnished or unfurnished in the Greek Islands?
In the Greek Islands, roughly 60% of long-term tenants prefer furnished rentals, while 40% seek unfurnished apartments, though this split varies significantly by island type.
Furnished apartments in the Greek Islands typically command a rent premium of €50 to €100 per month (about $55 to $110 USD) compared to equivalent unfurnished units.
Tenants who prefer furnished rentals in the Greek Islands are primarily seasonal workers, students, expats, and remote workers who need flexibility, while families and long-term local residents often prefer unfurnished so they can personalize their space.
Which amenities increase rent the most in the Greek Islands?
The top five amenities that increase rent the most in the Greek Islands are air conditioning with efficient insulation, dedicated parking, private outdoor space like a balcony or terrace, reliable high-speed internet, and solar water heating.
Air conditioning can add €30 to €50 per month (about $33 to $55 USD), dedicated parking adds €40 to €70 ($44 to $77 USD), outdoor space adds €50 to €80 ($55 to $88 USD), fast internet adds €20 to €30 ($22 to $33 USD), and solar water heating adds €15 to €25 ($17 to $28 USD) in the Greek Islands.
In our property pack covering the real estate market in the Greek Islands, we cover what are the best investments a landlord can make.
What renovations get the best ROI for rentals in the Greek Islands?
The top five renovations with the best ROI for rental properties in the Greek Islands are air conditioning upgrades, kitchen refreshes, bathroom modernization, moisture and salt-air protection improvements, and window and insulation upgrades.
AC upgrades typically cost €800 to €1,500 (about $880 to $1,650 USD) and can increase rent by €40 to €60 monthly; kitchen refreshes cost €1,500 to €3,000 ($1,650 to $3,300 USD) for €30 to €50 more rent; bathroom updates cost €1,000 to €2,500 ($1,100 to $2,750 USD) for €25 to €45 more rent in the Greek Islands.
Renovations with poor ROI that landlords in the Greek Islands should avoid include luxury finishes that exceed neighborhood standards, swimming pool installations for standard rentals, and overly customized designs that limit tenant appeal.
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.
How strong is rental demand in the Greek Islands as of 2026?
What's the vacancy rate for rentals in the Greek Islands as of 2026?
As of early 2026, the average vacancy rate for long-term rental properties in the Greek Islands is approximately 4%.
Vacancy rates across different neighborhoods in the Greek Islands range from nearly 0% in high-demand areas like Mykonos Town during peak season to 8% or higher on smaller, less-connected islands during winter months.
The current 4% vacancy rate in the Greek Islands is lower than the historical average of around 5% to 6%, reflecting ongoing housing pressure and limited new supply across most islands.
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.
How many days do rentals stay listed in the Greek Islands as of 2026?
As of early 2026, rental properties in the Greek Islands stay listed for an average of 20 to 25 days before being rented.
Days on market in the Greek Islands range from 10 to 15 days for well-priced units in popular areas like Chania or Corfu Town during peak demand, to 40 days or more for overpriced or poorly located properties in the off-season.
The current days-on-market figure in the Greek Islands is roughly 15% to 20% shorter than one year ago, reflecting tighter market conditions and increased tenant competition for quality units.
Which months have peak tenant demand in the Greek Islands?
Peak tenant demand in the Greek Islands occurs during two main periods: March through June when seasonal workers secure housing before summer, and September through October when students and year-round residents settle in for the academic and business year.
These seasonal demand spikes in the Greek Islands are driven by the hospitality industry gearing up for tourist season in spring, and universities starting their fall terms in September, particularly in Rethymno, Corfu, and Rhodes.
The lowest tenant demand in the Greek Islands typically falls in November through February, when tourism is minimal and many seasonal workers have left, making this period the best time for tenants to negotiate favorable lease terms.
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 will my monthly costs be in the Greek Islands as of 2026?
What property taxes should landlords expect in the Greek Islands as of 2026?
As of early 2026, landlords in the Greek Islands should expect annual property taxes (ENFIA) of approximately €300 to €1,000 for a typical small to mid-sized apartment, which works out to roughly €25 to €85 per month ($28 to $94 USD).
Property tax amounts in the Greek Islands can range from under €200 per year for modest inland properties to over €1,500 for premium waterfront units in high-value zones like Mykonos or Santorini.
ENFIA property tax in the Greek Islands is calculated based on the property's objective value, which depends on zone coefficients, property size, age, floor level, and building characteristics as recorded in the E9 property declaration.
Please note that, in our property pack covering the real estate market in the Greek Islands, we cover what exemptions or deductions may be available to reduce property taxes for landlords.
What utilities do landlords often pay in the Greek Islands right now?
In the Greek Islands, landlords most commonly pay building-level communal charges, property insurance, and occasionally fixed maintenance costs, while tenants typically handle electricity, water, and internet directly.
Building communal charges that landlords pay in the Greek Islands typically run €20 to €50 per month (about $22 to $55 USD), and property insurance adds another €15 to €30 monthly ($17 to $33 USD) depending on coverage level.
The standard practice in the Greek Islands is for tenants to pay all usage-based utilities directly to providers, which protects landlords from disputes over consumption and keeps energy cost volatility on the tenant side.
How is rental income taxed in the Greek Islands as of 2026?
As of early 2026, rental income in the Greek Islands is taxed on a progressive scale starting at 15% for the first €12,000 of annual rental income, with higher brackets applying to additional income.
Main deductions landlords can claim against rental income in the Greek Islands include property maintenance and repair costs, ENFIA property taxes paid, insurance premiums, and certain professional fees related to property management.
A common tax mistake specific to the Greek Islands that landlords should avoid is failing to properly declare short-term rental income separately, as the tax treatment differs from long-term leases and authorities are increasingly scrutinizing island properties for undeclared tourism rentals.
We cover these mistakes, among others, in our list of risks and pitfalls people face when buying property 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 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 |
|---|---|---|
| Spitogatos Property Index (SPI) | It's one of Greece's most established property portals, publishing transparent rent-per-square-meter data by region. | We used SPI rent data as our primary source for island prefecture pricing. We converted their €/sqm figures into realistic monthly rents by apartment size. |
| Spitogatos Q3 2025 Market Commentary | It provides context and trend analysis from the same publisher behind the property index data. | We used it to verify which island regions were seeing the fastest rent growth. We treated it as supporting narrative to cross-check our SPI-based estimates. |
| ELSTAT Consumer Price Index | ELSTAT is Greece's official statistics authority, making their CPI data the standard inflation benchmark. | We used CPI housing components to confirm that rent increases were consistent with official inflation trends. We used it to keep our 2026 figures grounded in reality. |
| Eurostat HICP Monthly Index | Eurostat is the EU's official statistics provider with consistent methodology across member states. | We used HICP as a second official cross-check for rental-related inflation direction. We used it to anchor our 2026 outlook in broader European trends. |
| FRED Actual Rentals for Housing (Greece) | FRED republishes Eurostat data in a stable, easy-to-verify format with clear definitions. | We used it to verify the exact definition of "actual rentals for housing" in official statistics. We treated it as a reference layer rather than a separate dataset. |
| Bank of Greece Economic Note (June 2025) | The central bank is Greece's top authority for macroeconomic and housing market monitoring. | We used it to understand why housing pressure is persisting across the country. We used it to support our rent growth outlook assumptions for 2026. |
| Greek Ministry of Finance 2026 Budget | It's the government's official repository for budget documents and policy direction. | We used it to understand policy measures affecting housing and taxation in 2026. We avoided relying solely on media summaries for tax and reform information. |
| AADE ENFIA Tax Guide | AADE is Greece's tax authority, making it the source of truth for property tax rules. | We used it to explain how ENFIA is calculated and when it's assessed. We used it to build realistic property tax expectations for island landlords. |
| AADE Long-Term Lease Guide | It's an official AADE guide specifically for landlords with long-term residential tenants. | We used it to describe the compliance steps landlords must follow. We used it to keep our monthly costs section accurate and practical. |
| Gov.gr Rental Management Portal | Gov.gr is Greece's official digital services gateway, linking directly to AADE procedures. | We used it to confirm what information landlords must provide for rental declarations. We used it to explain paperwork requirements in plain language. |
| Eurostat Housing in Europe 2025 | It's Eurostat's official synthesis of housing affordability indicators across EU countries. | We used it to support the affordability story showing Greece faces significant housing cost burdens. We used it to explain why rental demand remains strong. |
| University of Crete Accommodation Guide | It's a university source that reliably indicates student housing pressure in Rethymno. | We used it to justify student-driven rental demand patterns in Crete. We used it to identify when demand peaks around academic cycles. |
| Reuters Budget Coverage | Reuters is a top-tier news agency that carefully attributes policy measures to official sources. | We used it to support the point that housing supply issues are being addressed with policy tools. We used it for context rather than as a pricing source. |
| AP News Short-Term Rental Rules | AP is a major global news organization that summarizes regulatory changes with clear attribution. | We used it to explain how short-term rental regulations affect long-term housing supply on tourism-heavy islands. We used it to shape our 2026 outlook. |
| EYDAP Water Tariffs | EYDAP is a major Greek water utility that publishes official tariff schedules. | We used it as a reference for utility cost structures in Greece. We used it to explain typical landlord versus tenant utility responsibilities. |
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