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
The Greek Islands property market in 2026 is not one market but several distinct ones, ranging from ultra-premium Cycladic destinations to affordable North Aegean gems with strong year-round potential.
We constantly update this blog post to reflect the latest pricing data, rental yields, and neighborhood-level insights so you can make informed decisions.
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.
What's the Current Real Estate Market Situation by Area in the Greek Islands?
Which areas in the Greek Islands have the highest property prices per square meter in 2026?
As of early 2026, the three most expensive areas for property in the Greek Islands are Mykonos (especially Chora, Ornos, and Psarou), the Santorini caldera ridge (Oia, Imerovigli, Fira), and Antiparos (Chora fringe and Soros beach zone).
In these premium Greek Islands locations, typical asking prices range from around 6,000 to over 12,000 euros per square meter, with the very best caldera-view or beachfront villas commanding even higher premiums.
Each of these areas commands top prices for distinct reasons:
- Mykonos Chora and Ornos: global brand recognition plus extremely limited walkable inventory near beaches.
- Santorini Oia and Imerovigli: unique caldera views that cannot be replicated anywhere else in the world.
- Antiparos Soros and Chora: ultra-scarce supply combined with celebrity and ultra-high-net-worth demand.
- Paros Naousa: family-luxury positioning with improving ferry and flight connections driving competition.
Which areas in the Greek Islands have the most affordable property prices in 2026?
As of early 2026, the most affordable property prices in the Greek Islands are found in Samos (Vathy, Karlovasi), Lesvos (Mytilene, Molyvos), Chios (Chios Town, Karfas), and parts of the smaller Dodecanese islands.
In these more budget-friendly Greek Islands areas, typical asking prices range from approximately 1,100 to 1,600 euros per square meter, making them accessible entry points for foreign buyers.
However, buying in these lower-priced areas comes with trade-offs: Samos and Lesvos have fewer direct international flights which limits rental demand, Chios has a smaller luxury-villa segment which affects resale liquidity, and all three tend to attract thinner international buyer pools which can mean longer selling times when you want to exit.
You can also read our latest analysis regarding housing prices in the Greek Islands.
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.
Which Areas in the Greek Islands Offer the Best Rental Yields?
Which neighborhoods in the Greek Islands have the highest gross rental yields in 2026?
As of early 2026, the neighborhoods in the Greek Islands with the highest gross rental yields include Nea Chora and Kounoupidiana in Chania (Crete) at around 5% to 6%, Ialyssos and Kremasti in Rhodes at approximately 4.5% to 5.5%, and Kontokali in Corfu at roughly 4.5% to 5%.
Across the Greek Islands as a whole, typical gross rental yields for investment properties range from about 3% in premium Cyclades locations to around 6% in year-round economy islands with strong local tenant demand.
These top-yielding neighborhoods deliver higher returns than other Greek Islands areas for specific reasons:
- Nea Chora (Chania): year-round university students and local workers keep occupancy high even in winter.
- Ialyssos (Rhodes): long tourism season plus sizable resident population needing housing near the airport.
- Kontokali (Corfu): diversified demand from locals, expats, and hospitality staff reduces vacancy risk.
- Kounoupidiana (Chania): affordable rents attract steady local tenants while prices remain below city center.
Finally, please note that we cover the rental yields in the Greek Islands here.
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Which Areas in the Greek Islands Are Best for Short-Term Vacation Rentals?
Which neighborhoods in the Greek Islands perform best on Airbnb in 2026?
As of early 2026, the top-performing Airbnb neighborhoods in the Greek Islands are Mykonos Chora and Ornos (with occupancy around 53% and very high nightly rates), Santorini Oia and Fira (around 54% occupancy with strong revenue), and Chania Old Town fringe in Crete (longer season with consistent bookings).
In these best-performing Greek Islands neighborhoods, top Airbnb properties can generate monthly revenues ranging from approximately 3,000 to 8,000 euros during peak summer months, though winter earnings drop significantly on most islands.
Each of these neighborhoods outperforms others for short-term rentals due to specific factors:
- Mykonos Chora: walkability to nightlife and restaurants makes it the most sought-after location for visitors.
- Santorini Oia: sunset views and Instagram appeal create premium pricing power for caldera-facing units.
- Ornos (Mykonos): family-friendly beach access combined with proximity to Mykonos Town attracts diverse guests.
- Chania Old Town: longer season and cultural tourism extend bookings beyond typical summer-only patterns.
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in the Greek Islands.
Which tourist areas in the Greek Islands are becoming oversaturated with short-term rentals?
The top three tourist areas in the Greek Islands becoming oversaturated with short-term rentals are the Santorini caldera ridge (Oia, Imerovigli, Fira), central Mykonos (Chora and immediate surroundings), and parts of Corfu Old Town.
In these oversaturated Greek Islands areas, AirDNA data shows thousands of active listings competing for guests: Santorini alone has over 6,500 vacation rentals while Mykonos has approximately 4,500 listings concentrated in a relatively small geographic area.
The clearest sign of oversaturation in these Greek Islands markets is that occupancy rates remain stuck in the mid-50% range despite continued supply growth, meaning new listings are diluting revenue rather than capturing new demand, and only properties with exceptional locations or professional management can maintain pricing power.
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 Areas in the Greek Islands Are Best for Long-Term Rentals?
Which neighborhoods in the Greek Islands have the strongest demand for long-term tenants?
The neighborhoods in the Greek Islands with the strongest demand for long-term tenants are Nea Chora and Kounoupidiana in Chania (Crete), Rhodes Town outer districts and Ialyssos in Rhodes, and Corfu Town outskirts including Kontokali and Potamos.
In these high-demand Greek Islands neighborhoods, well-priced properties typically rent within two to four weeks, and vacancy rates remain low even during winter months because these areas have genuine year-round economies rather than purely seasonal tourism.
Different tenant profiles drive demand in each of these neighborhoods:
- Nea Chora (Chania): university students and young professionals working in the city center.
- Ialyssos (Rhodes): families seeking affordable housing near schools and the airport commuter belt.
- Kontokali (Corfu): expats and hospitality workers who need proximity to resort areas year-round.
- Kounoupidiana (Chania): local workers priced out of central Chania seeking good value and space.
What makes these neighborhoods especially attractive to long-term tenants in the Greek Islands is that each offers year-round access to essential services like hospitals, schools, and supermarkets that remain open outside the tourist season, which many purely resort-focused areas cannot provide.
Finally, please note that we provide a very granular rental analysis in our property pack about the Greek Islands.
What are the average long-term monthly rents by neighborhood in the Greek Islands in 2026?
As of early 2026, average long-term monthly rents in the Greek Islands vary significantly by location, ranging from around 8 euros per square meter in affordable areas like Vathy (Samos) to over 14 euros per square meter in premium locations like Chania Old Town fringe or Naousa (Paros).
In the most affordable Greek Islands neighborhoods such as Mytilene (Lesvos), Chios Town, and Karlovasi (Samos), entry-level apartments typically rent for between 350 and 500 euros per month for a standard two-bedroom unit.
In mid-range Greek Islands neighborhoods like Rhodes Town outer districts, Ermoupoli (Syros), and Naxos Town, average two-bedroom apartments rent for approximately 550 to 800 euros per month.
In the most expensive Greek Islands neighborhoods such as Chania Old Town, Parikia waterfront (Paros), and Kontokali (Corfu), high-end apartments command rents of 900 to 1,400 euros or more per month for quality two-bedroom units.
You may want to check our latest analysis about the rents in the Greek Islands here.
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Which Are the Up-and-Coming Areas to Invest in the Greek Islands?
Which neighborhoods in the Greek Islands are gentrifying and attracting new investors in 2026?
As of early 2026, the neighborhoods in the Greek Islands that are gentrifying and attracting new investors include Ermoupoli and Vaporia in Syros, Naxos Town (Chora) and the Agios Prokopios corridor in Naxos, Nea Chora and Halepa fringe in Chania (Crete), and Ialyssos in Rhodes.
These gentrifying Greek Islands neighborhoods have experienced annual price appreciation of roughly 5% to 10% over the past two to three years, driven by renovation of old housing stock, boutique hospitality development, and growing interest from remote workers seeking year-round island living.
Which areas in the Greek Islands have major infrastructure projects planned that will boost prices?
The areas in the Greek Islands with major infrastructure projects expected to boost property prices are neighborhoods near Fraport Greece airport expansions, particularly around Corfu, Zakynthos, and Kos airports where capacity upgrades are underway or planned through 2030.
Specific projects include Fraport's announced 200 million euro investment in new terminal upgrades and capacity expansion at multiple Greek island airports, with Corfu, Zakynthos, and Kos among the airports receiving significant attention due to sustained passenger growth that has pushed existing facilities to their limits.
Historically, Greek Islands areas that have benefited from improved airport access have seen property price increases of 10% to 20% within two to three years of completion, as better connectivity brings more tourists, longer seasons, and increased buyer interest from international purchasers who value easy access.
You'll find our latest property market analysis about the Greek Islands here.
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.
Which Areas in the Greek Islands Should I Avoid as a Property Investor?
Which neighborhoods in the Greek Islands with lots of problems I should avoid and why?
The areas in the Greek Islands that investors should generally approach with caution include border-area zones in the Eastern Aegean and Dodecanese (for non-EU buyers), heavily saturated STR cores like central Santorini and Mykonos Chora (for inexperienced operators), and new-build oversupply pockets where ELSTAT building activity is spiking.
Each of these problematic areas presents different challenges:
- Eastern Aegean border zones (Samos, Lesvos, Chios): non-EU buyers face prior authorization requirements that can delay closings significantly.
- Santorini caldera ridge (Oia, Fira): extreme STR competition means average properties underperform despite high prices.
- Mykonos Chora core: professional operators dominate, making it hard for amateur landlords to compete effectively.
- New-build zones with permit spikes: fresh supply competes down rents and erodes resale premiums.
For these Greek Islands areas to become viable investment options, border-area bureaucracy would need streamlining, STR supply would need to stabilize or regulations would need to reduce active listings, and new construction would need to slow down to allow demand to catch up with supply.
Buying a property in the wrong neighborhood 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 in the Greek Islands have stagnant or declining property prices as of 2026?
As of early 2026, the areas in the Greek Islands with the most stagnant or flat price growth tend to be islands with weaker air connectivity such as parts of Samos, Lesvos, and Chios outside their main towns, as well as second-home-only villages with limited winter services on otherwise popular islands.
While the broader Greek Islands market continues to appreciate (Bank of Greece data shows national housing prices still rising), these underperforming areas have seen price growth of only 0% to 2% annually over the past two years, significantly trailing the 5% to 8% gains seen in better-connected locations.
The underlying causes of price stagnation vary by area:
- Remote Samos villages: limited direct international flights reduce foreign buyer and tourist demand.
- Interior Lesvos: distance from beaches and ports makes properties less attractive for holiday use.
- Second-home-only villages (various islands): no winter shops, medical access, or services limits year-round appeal.
- Parts of northern Chios: thinner luxury segment and fewer tourist amenities dampen international interest.
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Which Areas in the Greek Islands Have the Best Long-Term Appreciation Potential?
Which areas in the Greek Islands have historically appreciated the most recently?
The areas in the Greek Islands that have appreciated most strongly over the past five to ten years are the Cyclades (especially Mykonos, Antiparos, and Paros), the Ionian hotspots (Lefkada, Corfu, Kefalonia), and Chania in western Crete.
Here is how these top-performing Greek Islands areas have appreciated:
- Mykonos: approximately 80% to 100% total appreciation since 2019, driven by global luxury demand.
- Antiparos: roughly 60% to 80% total appreciation, fueled by celebrity buyers and ultra-scarcity.
- Paros (Naousa, Parikia): around 50% to 70% appreciation as the island became a family-luxury alternative to Mykonos.
- Chania (Crete): approximately 40% to 55% appreciation, benefiting from year-round economy and airport growth.
The main driver behind above-average appreciation in these Greek Islands areas was a surge of international second-home demand after 2019 combined with geographic and planning constraints that strictly limited new supply, creating persistent competition for a finite number of desirable properties.
By the way, you will find much more detailed trends and forecasts in our pack covering there is to know about buying a property in the Greek Islands.
Which neighborhoods in the Greek Islands are expected to see price growth in coming years?
The neighborhoods in the Greek Islands expected to see the strongest price growth in coming years are Naousa and Parikia fringe in Paros, Naxos Town and Agios Prokopios in Naxos, Ermoupoli in Syros, and Kontokali and Dassia near Corfu airport.
Projected annual price growth for these high-potential Greek Islands neighborhoods varies:
- Naousa (Paros): expected 6% to 9% annual growth as Paros captures overflow demand from Mykonos.
- Naxos Town and Agios Prokopios: projected 5% to 8% growth due to value positioning relative to neighbors.
- Ermoupoli (Syros): anticipated 5% to 7% growth driven by year-round livability and remote-worker appeal.
- Kontokali (Corfu): expected 5% to 7% growth linked to airport expansion and longer tourism season.
The single most important catalyst expected to drive future price growth in these Greek Islands neighborhoods is improved air connectivity through Fraport airport expansions, which directly increases tourism volumes, extends the rental season, and makes islands more accessible to international buyers who value convenience.
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 Do Locals and Expats Really Think About Different Areas in the Greek Islands?
Which areas in the Greek Islands do local residents consider the most desirable to live?
The areas in the Greek Islands that local residents consider most desirable to live are Nea Chora and Halepa in Chania (Crete), Rhodes Town outer residential districts, Corfu Town outskirts and Kontokali, and Ermoupoli in Syros.
Each of these locally-preferred areas has distinct qualities:
- Nea Chora (Chania): walkable beach access plus year-round cafes, shops, and schools within easy reach.
- Halepa (Chania): elegant historic architecture with good medical facilities and cultural venues nearby.
- Rhodes Town residential districts: full urban amenities including hospitals, schools, and employment options.
- Ermoupoli (Syros): functioning year-round capital with ferry connections and genuine local community life.
These locally-desirable Greek Islands areas tend to attract established families with children in schools, professionals working in healthcare or government, and retirees who prioritize access to services over tourist buzz.
Local preferences in the Greek Islands often differ significantly from foreign investor targets because locals prioritize winter livability, medical access, and schools, while foreign buyers frequently chase views, beaches, and short-term rental potential that may not align with year-round functionality.
Which neighborhoods in the Greek Islands have the best reputation among expat communities?
The neighborhoods in the Greek Islands with the best reputation among expat communities are Kontokali and Dassia in Corfu, Nea Chora and Kounoupidiana in Chania (Crete), and the Parikia and Naousa fringes in Paros.
Expats prefer these Greek Islands neighborhoods for specific reasons:
- Kontokali (Corfu): established international community, English widely spoken, and good airport access.
- Nea Chora (Chania): walkable urban lifestyle with year-round restaurants, healthcare, and cultural events.
- Parikia fringe (Paros): more "settleable" than Mykonos with better family infrastructure and calmer atmosphere.
- Dassia (Corfu): resort proximity combined with residential character appeals to those wanting beach convenience.
The expat profiles in these popular Greek Islands neighborhoods tend to be retirees from Northern Europe (especially UK and Germany), remote workers seeking Mediterranean lifestyle, and semi-retired business owners who split time between Greece and their home countries.
Which areas in the Greek Islands do locals say are overhyped by foreign buyers?
The areas in the Greek Islands that locals commonly say are overhyped by foreign buyers are the Santorini caldera ridge (Oia, Imerovigli), central Mykonos Chora, and parts of Antiparos that command extreme premiums relative to practical livability.
Locals believe these areas are overvalued for different reasons:
- Santorini Oia: stunning views but extreme seasonality, water scarcity, and STR competition erode returns.
- Mykonos Chora: iconic brand but average-quality properties struggle against professional STR operators.
- Antiparos prime zones: celebrity-driven prices that bear little relationship to rental income or local economy.
Foreign buyers typically value the Instagram appeal, sunset views, and global brand recognition of these Greek Islands areas, while locals see the practical downsides including seasonal water shortages, noise from tourism, lack of winter services, and prices that only make sense for pure trophy ownership rather than income-generating investment.
By the way, we've written a blog article detailing the experience of buying a property as a foreigner in the Greek Islands.
Which areas in the Greek Islands are considered boring or undesirable by residents?
The areas in the Greek Islands that residents commonly consider boring or undesirable are resort-only strips dominated by summer nightlife (such as parts of Laganas in Zakynthos), remote villages with no winter infrastructure, and interior locations far from beaches and ports.
Residents find these Greek Islands areas undesirable for specific reasons:
- Laganas (Zakynthos): party tourism creates noise and wear-and-tear that makes it unsuitable for families.
- Remote interior villages: no shops, medical access, or transport links during the eight-month off-season.
- Second-home-only coastal strips: completely deserted in winter with shuttered restaurants and services.
- Airport-adjacent zones: flight noise and traffic without corresponding amenities or community life.
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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 with official housing price indices built from regulated data. | We used it to anchor the national price cycle and validate island-level estimates. We scaled our neighborhood projections to stay consistent with official trends. |
| Spitogatos Property Index | Greece's largest listings platform with a repeatable methodology and regular updates. | We used it for prefecture-level asking prices and rents across island groups. We then translated these into neighborhood ranges using conservative adjustments. |
| ELSTAT (Hellenic Statistical Authority) | Greece's official national statistics agency and source of record for government data. | We used it to cross-check inflation context and pull building activity releases. We also used it to verify supply pressure narratives in specific regional units. |
| AirDNA | Leading STR analytics provider based on Airbnb and Vrbo platform data. | We used it to quantify short-term rental occupancy, daily rates, and revenue for key islands. We compared these figures against purchase prices to estimate plausible STR yields. |
| Fraport Greece | Official airport operator with primary passenger data for 14 Greek regional airports. | We used it as a hard demand proxy for tourism-driven islands. We identified where accessibility improvements could lift property prices and rental demand. |
| AADE (Greek Tax Authority) | The tax authority operating Greece's mandatory short-term rental registry. | We used it to describe the compliance baseline that affects STR feasibility. We also used it to frame regulation risk in tourist-heavy areas. |
| eKathimerini | Major national newspaper citing attributed Spitogatos research on holiday homes. | We used it to identify which specific islands sit at the top of the price distribution. We treated it as an attributed secondary source for prime market pricing. |
| GTP Headlines | Long-running tourism sector publication that explicitly cites new laws and regulations. | We used it to anchor recent STR rule changes affecting investors in early 2026. We also used it to explain why some islands may face higher compliance costs. |
| ELRA (European Land Registry Association) | Pan-European land registry network summarizing national legal constraints. | We used it to confirm border-area restrictions exist for non-EU buyers. We pointed readers to which islands and regions are affected in practical terms. |
| Hellenic Cadastre (via Gov.gr) | Official public land registration system interface for Greece. | We used it to explain ownership security and title checks for foreign buyers. We highlighted due diligence steps that are especially important on islands. |
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