Greece Real Estate Investment: The Ultimate Guide

Over the last decade, Greece has transformed from a market recovering from economic challenges into one of the most promising real estate investment destinations in Europe. For investors, the country offers a unique blend of opportunity and security: strong tourism-driven demand, steadily rising property values, and the added benefit of residency opportunities through the Golden Visa program.

Greece’s strategic location at the crossroads of Europe, Asia, and Africa has historically made it a hub for trade, shipping, and culture. Today, this same position strengthens its role as a gateway for international business, logistics, and investment. In addition, Greece’s membership in the European Union and the Schengen Zone provides investors with stability, legal security, and access to wider European markets.

Tourism continues to be the country’s economic engine, with more than 33 million international visitors in 2023, a figure that exceeds the country’s population three times over. This tourism boom directly supports real estate demand, particularly in short-term rental properties and luxury vacation homes. Meanwhile, domestic reforms and EU-backed recovery funds have stimulated economic growth, making Greece one of the fastest-growing economies in the Eurozone in recent years.

The Greek real estate market itself has shown remarkable resilience and growth. According to the Bank of Greece, residential property prices have been increasing steadily year after year, with Athens leading the market in appreciation. Between 2017 and 2023, property prices in Athens more than doubled in some neighborhoods, while nationwide property prices rose by an average of 60% over six years. For investors, this trend signals both strong capital appreciation potential and reliable rental yields.

In this guide, we will explore every aspect of real estate investment in Greece from who can buy, how much you need to invest, taxes and mortgages, to the best cities and islands for property. We’ll also cover the connection between real estate and the Golden Visa program, the potential path to citizenship, and how Greece compares to other European real estate markets like Spain and Cyprus.

For serious investors, Greece represents more than just a beautiful destination. It is a market where lifestyle, stability, and profitability intersect.

Who Can Buy Real Estate in Greece?

Both EU and non-EU nationals can purchase real estate in Greece, which is one of the reasons Greece has become so attractive to international investors: its open property market. Unlike some countries where foreign ownership is heavily restricted, Greece allows both EU and non-EU nationals to buy property freely in most parts of the country. This inclusivity has fueled demand from investors worldwide, particularly from China, the Middle East, the United States, and Europe.

Eligibility for Foreigners

EU Citizens: Citizens of the European Union face no restrictions at all when purchasing property in Greece. They enjoy the same rights as Greek nationals in terms of ownership, use, and inheritance.
Non-EU Citizens: Investors from outside the EU can also purchase property in Greece without limitation, including residential, commercial, and land. Importantly, they can also benefit from Greece Golden Visa program, which grants residency rights through real estate investment starting at €250,000.

Regional Exceptions

There are only a few exceptions related to national security. Certain border or military-sensitive areas, such as properties near the frontiers with Turkey or in some parts of Crete and the Dodecanese islands, require special permission from the Ministry of Defense for non-EU nationals to purchase. However, in practice, the vast majority of Greek real estate markets, including Athens, Thessaloniki, the Cycladic islands, and Crete’s urban centers, are open and unrestricted.

Can Foreign Companies Buy Property in Greece?

Yes. Foreign Companies can buy properties in Greece, as Many investors prefer to purchase property through a foreign or Greek-registered company for tax structuring, inheritance planning, or liability protection. Greek law allows foreign legal entities to own property directly, provided proper documentation and tax registration are completed.

Who Cannot Buy Property in Greece?

The parties and people who can’t buy property in Greece are:

Individuals subject to international sanctions or money-laundering investigations cannot purchase property.
Buyers unable to comply with Greece’s Anti-Money Laundering (AML) regulations, such as providing proof of funds and identity verification, will be denied property registration.
In restricted zones (border areas), non-EU nationals cannot proceed without explicit government approval.

Benefits of Real Estate Investment in Greece

There are many benefits of Real Estate Investment in Greece, making it one of the most attractive destinations for international investors seeking both financial returns and lifestyle advantages. From stable rental income and consistent capital appreciation to the opportunity of securing permanent residency through the Golden Visa program, Greece offers a uniquely rewarding investment environment that balances profitability with quality of life.

Quality of Living: Investing in Greece is not only a financial decision but also a lifestyle upgrade. The country offers an exceptional standard of living, combining a relaxed Mediterranean lifestyle with modern infrastructure, reliable healthcare, and excellent education. For investors considering relocation or extended stays, this translates into a healthier, more fulfilling way of life surrounded by history, natural beauty, and cultural richness.
High Rental Income: Greece’s real estate market benefits greatly from its booming tourism sector and growing demand for urban housing. This creates strong opportunities for rental returns, both in short-term holiday rentals and long-term leases. Properties in prime locations such as Athens, Thessaloniki, and popular islands like Santorini and Crete can generate rental yields of 5–7% annually, with even higher returns possible during peak tourist seasons.
Capital Appreciation: In addition to rental income, Greek property values have been steadily rising due to foreign investment inflows and market recovery. On average, prime properties in Athens and Thessaloniki have appreciated by 6–8% per year, while select luxury and island properties have demonstrated even greater growth. This positions Greece as a market with strong potential for long-term value appreciation.
Pathway to Permanent Residency: Perhaps the most strategic benefit is Greece’s Golden Visa program, directly linked to real estate investment. With a minimum investment of €250,000, investors and their families can obtain permanent residency in Greece, granting the right to live, study, and work in the country while enjoying visa-free travel across the Schengen Zone. This dual benefit of financial gain and enhanced mobility makes Greece stand out among European markets.

How Much Money Do I Need to Invest in Real Estate in Greece?

In Greece, the capital you need for real estate investment depends heavily on location, type of property, and whether you want something entry-level or top-tier luxury. Below are realistic figures based on recent market data (2024-2025) so you can plan properly.

Minimum Investment

If you’re targeting value in secondary neighborhoods or less touristy regions (outside Athens or major islands), you can find modest apartments for €70,000-€120,000. These are typically older units, smaller size (40-60 sqm), possibly needing renovation.
For areas that are still fairly accessible but not premium, think the outskirts of Athens or smaller cities, amounts around €150,000-€200,000 may buy you a newer apartment (50-70 sqm) in decent condition.

Decent/Average Investment for Quality Properties

In Athens’ central areas, recent data shows average residential property prices of about €2,480-€2,944 per square meter in Q1 2025.
For a good 60-80 sqm apartment in a solid central neighborhood (not ultra-luxury, but modern and well-located), you’re looking at €170,000-€230,000 (or more depending on exact location, condition, and amenities).
Premium suburbs (such as the Athens Riviera or coastal/seaside districts) demand higher prices. In these areas, two- or three-bedroom flats or villas often start from € 320,000 to € 400,000+, especially when the condition, view, or proximity to amenities are strong.

Key Variables That Push Costs Up

New builds vs older buildings (newer = higher price per sqm).
Prime location (sea view, proximity to historic center, infrastructure, tourist access).
Quality of finishes, amenities, and whether the property is ready-to-rent vs requiring renovation.
Regulatory changes: Golden Visa thresholds are rising in some prime zones, which increases demand (and price) for eligible properties.

To summarize:

If your budget is up to ~€150,000-€200,000, you’ll get usable property in emerging/secondary areas or smaller islands.
With ~€200,000-€350,000, you can access good-quality apartments in desirable areas of Athens or in high-demand suburbs, with reasonable rental potential and appreciation.
For premium zones or luxury homes (sea views, high spec, larger size, prime islands), expect €300,000-€600,000+ depending on exact attributes.

How Much Money Do I Need to Invest in Real Estate in Greece to Get the Golden Visa?

You need to invest a minimum of €250,000 in Greek real estate to qualify for Greece Golden Visa, but the exact amount depends on the location and property type:

€800,000: required in high-demand areas such as Athens (Attica), Thessaloniki, Mykonos, Santorini, and islands with more than 3,100 residents. The property must be one unit of at least 120 m².
€400,000: required in all other eligible regions of Greece, also for a single property with a minimum size of 120 m².
€250,000: the entry-level threshold, available only in specific cases such as listed historic properties or commercial spaces converted to residential use, provided that renovation is completed before applying.

These updated rules under the 2024 Golden Visa reforms aim to balance investor interest with Greece’s property market needs.

The Requirements for Investing in Real Estate in Greece for Foreigners

Foreign investors must meet specific financial, legal, and documentation criteria and requirements to qualify for property ownership and residency rights in Greece. Those requirements are designed to ensure transparency, legal security, and alignment with the country’s Golden Visa framework:

Minimum Investment: €250,000 in eligible real estate (rising to €500,000 in selected high-demand areas).
Property Ownership: Purchase must be in the investor’s name or through a legal entity fully owned by them.
Clear Legal Title: Property must be free of legal disputes, debts, or encumbrances.
Valid Purchase Agreement: A notarized contract is required and must be registered with the Land Registry.
Proof of Funds: Demonstrating the investment comes from legitimate, legal sources.
Health Insurance: Coverage in Greece is mandatory for the investor and dependents applying for residency.
Application Documents: Passport, biometric data, tax identification number (AFM), and residence permit application forms.

How to Buy a Property in Greece?

The process of purchasing real estate in Greece involves the following key steps to ensure a secure and legally compliant transaction:

Hire a Licensed agency: Hiring a licensed agency like GICG (Global For Citizenship and Residency) will help you navigate the local market, find suitable properties, and facilitate the buying procedures.
Obtain a Greek Tax Identification Number (AFM): This is mandatory for all property buyers in Greece.
Open a Greek Bank Account: Required for property-related payments.
Legal Due Diligence: A lawyer verifies ownership, debts, and property legality.
Sign the Pre-Contract Agreement (if applicable): Sometimes used to reserve the property.
Purchase Agreement: Final notarized sales contract signed in front of a notary.
Registration: Property ownership must be registered with the Land Registry or Cadastre.
Golden Visa Application (if applicable): Submit documents for residency after purchase.

How Long Does It Take to Buy a Property in Greece?

On average, buying property in Greece takes 4 to 8 weeks, depending on the property’s legal status and documentation. The timeline typically includes:

Property Search & Negotiation (1–4 weeks): Time to find and agree on the right property.
Legal & Technical Due Diligence (2–3 weeks): Verifying title deeds, debts, and permits.
Contract Preparation & Signing (1 week): Finalizing the sales agreement at the notary.
Registration (1–2 weeks): Official ownership registration at the Land Registry.

Do I Have to Be in Greece to Buy Real Estate?

No, you do not need to be physically present in Greece to complete the property purchase. Investors can authorize a lawyer or legal representative through a Power of Attorney (POA) to handle the entire process, including signing contracts, opening bank accounts, and registering ownership. This makes it possible to invest in Greek real estate remotely.

What are the taxes on real estate investment in Greece for foreigners?

The taxes on real estate investment in Greece for foreigners are both purchase and ongoing taxes. Buyers typically pay a 3.09% transfer tax on the property value (unless the property is subject to 24% VAT, which is currently suspended for many new builds). Once you own the property, you will be liable for the annual ENFIA property tax, usually ranging between €2 – €16 per square meter, depending on location and property type.

If you rent out your property, rental income is taxed progressively: 15% on the first €12,000, 35% from €12,001 to €35,000, and 45% on income above €35,000. For high-net-worth investors relocating to Greece, special regimes such as the flat €100,000 non-dom tax option may also be available.

Key Taxes to Consider:

Transfer Tax: 3.09% (or 24% VAT on some new builds, currently suspended in many cases).
Annual Property Tax (ENFIA): €2–€16 per m², depending on location/type.
Rental Income Tax: 15% (up to €12,000), 35% (€12,001–€35,000), 45% (above €35,000).
Special Regimes: Non-dom option with €100,000 flat tax for high-net-worth individuals.

Note: Tax rules in Greece are updated frequently, including temporary VAT suspensions and short-term rental levies. Always consult GICG’s tax specialists to ensure your investment is fully optimized and compliant.

Associated Costs for Real Estate Investment in Greece

When buying property in Greece, expect additional fees that typically total 5%–11% of the property’s value (for resale/existing property). Costs are higher for new builds due to VAT.

Here are the specific fees and percentages:

Notary fees: ~ 1.5%–2% of property value, plus VAT.
Land Registry (registration) fees: ~ 0.5%–0.7% of property value.
Transfer tax: 3.09% of assessed or market value (if VAT does not apply).
Real estate agent (broker) commission: ~ 2% + VAT of purchase price. In some cases, 2.5%–5%.
Legal / Lawyer fees: ~ 1.0%–2.5% including VAT, depending on complexity.
Travel and due diligence (if inspecting properties outside the main city): typically €350–€500.

What are the Mortgage Options for Real Estate Investment in Greece?

Mortgage options for real estate investment in Greece vary depending on whether the buyer is a local resident or a foreign investor. Understanding the differences can help you plan your financing strategy more effectively.

For Greek citizens and EU residents:

Loan-to-value (LTV) ratios typically range up to 70–80% of the property value.
Longer repayment terms, often 20–30 years.
Competitive interest rates, especially for primary residences.
Easier approval process with local income and credit history.

For non-EU foreign investors:

Stricter eligibility, with most banks requiring proof of income and assets abroad.
Lower LTV, often capped at around 50–60%, meaning higher down payments.
Shorter loan periods, usually 10–15 years.
Higher interest rates compared to locals.
Some banks may only finance if the borrower has strong ties to Greece (business presence, tax residency, or substantial collateral).

Key takeaway: While financing is available, many foreign investors prefer purchasing in cash or combining partial financing with equity. Partnering with a consultancy such as GICG (Global For Citizenship and Residency) ensures you identify the most suitable financing path tailored to your investment profile.

How long can I stay in Greece if I buy a house?

You can stay as long as your visa permits. Owning property in Greece does not automatically extend your stay or grant you residency rights. For example, if you enter on a Schengen visa, you can remain in Greece for up to 90 days within 180 days. Once that period ends, you must leave the country unless you apply for a residence permit, such as the Golden Visa program.

If your visa expires and you have to leave, you still own your property in Greece. Real estate ownership in Greece is entirely separate from your residency status. Even if you do not visit Greece for months or years, you will not lose your property. There is no law requiring you to live in the house or visit within a specific timeframe to maintain ownership.

However, you remain responsible for your property taxes, utility bills, and maintenance obligations. Failing to keep up with these payments could create financial or legal issues, but a simple absence from the country does not affect your ownership rights.

How can I manage my property in Greece as a foreigner?

You can manage your property in Greece even if you are not living there full-time by relying on local support and professional services. Many foreign owners choose one or more of the following:

Hire a property management company: These agencies handle everything from paying utility bills and property taxes to regular maintenance, cleaning, and even finding tenants if you want to rent out the property.
Work with a local lawyer or accountant: They can represent you in financial and legal matters, ensuring compliance with tax obligations and municipal requirements.
Use real estate agencies for rentals: If you want to generate income, licensed agencies can advertise your property, screen tenants, and manage rental agreements.
Grant a power of attorney (POA): You can authorize a trusted professional in Greece to act on your behalf for transactions, property upkeep, or official paperwork.

This way, you can fully enjoy the benefits of owning real estate in Greece without needing to be physically present year-round.

Things to consider when buying a property in Greece

There are many things to consider when buying a property in Greece, and overlooking them can affect both your investment and your long-term plans. To make the right decision, keep in mind the following points:

Legal due diligence: Ensure the property has a clear title deed, no debts, and no outstanding legal disputes.
Location and accessibility: Properties near urban centers, tourist destinations, or transport hubs tend to offer higher rental income and appreciation.
Property condition: Renovation costs can significantly add to your budget, especially for older homes.
Taxes and fees: Be aware of property transfer tax, annual property tax (ENFIA), and notary/legal fees.
Rental potential: Check if the property is eligible for short-term rentals (e.g., Airbnb) and understand the local demand.
Residency eligibility: If your goal is a Golden Visa, confirm the property meets the minimum investment threshold.
Property management: Consider how you will manage or maintain the property if you are not residing in Greece.

Taking these factors into account will help you make a secure and profitable investment decision.

Get Expert Help with Real Estate Investment in Greece

The real estate in Greece can be complex, from understanding local regulations to ensuring your property qualifies for residency programs. Having the right guidance can make all the difference, ensuring a smooth and profitable investment without unnecessary complications.

At GICG (Global For Citizenship and Residency), our team of experts provides end-to-end support for real estate investing, from identifying the right property to handling legal, tax, and residency requirements. With our experience and local knowledge, we ensure your investment is secure, compliant, and aligned with your long-term goals.

Contact Global For Citizenship and Residency (GICG) today to make your real estate investment in Greece a seamless and rewarding experience.

What are the Best Cities to Invest in Real Estate in Greece?

The best cities to invest in real estate in Greece are Athens, Thessaloniki, Piraeus, Patra, and Heraklion (Crete). They combine strong rental demand, lifestyle appeal, and long-term appreciation potential. Each major city and its key neighborhoods offer unique advantages for different types of investors, whether the focus is on luxury living, student housing, or short-term rental income.

Athens: The capital and largest city, Athens, remains the top choice for investors due to its thriving economy, tourism, and cultural heritage.
- Kolonaki: A prestigious neighborhood with luxury apartments and high-end demand.
- Koukaki: A hotspot for Airbnb rentals, located near the Acropolis and popular with international visitors.

Thessaloniki: Greece’s second-largest city, known for its vibrant student population, growing business environment, and cultural significance.
- Ano Poli: A traditional hillside neighborhood with charming restored homes and steady demand.
- Toumba: Affordable, high-yield area with strong demand from students.

Piraeus: The main port of Greece, increasingly popular for both commercial and residential investments.
- Kastella: Sought-after for apartments with sea views.
- Freattyda: A family-friendly neighborhood with modern housing near the sea.

Patras: A major university city that provides excellent opportunities for student housing.
- Agios Andreas: Offers affordable housing with proximity to the waterfront.

Heraklion (Crete): One of Greece’s top tourist destinations, ideal for short-term rental investments.
- City Center: Strong demand for both tourist and local rentals.

What Are the Best Islands to Invest in Real Estate in Greece?

The best islands to invest in real estate in Greece are Mykonos, Santorini, Crete, Rhodes, Corfu, Naxos, Paros, and Syros. Those islands combine strong tourism appeal, lifestyle value, and high rental demand. While some islands attract luxury investors seeking exclusivity, others offer affordable entry points with steady appreciation potential. Here are some of the top options:

Mykonos: Known for luxury villas, high-end rentals, and world-famous nightlife.
Santorini: A global tourism hotspot, ideal for holiday rentals with strong yields.
Crete: The largest island, offering diverse opportunities from city apartments in Heraklion to villas in Chania.
Rhodes: Popular for both tourism and permanent living, with year-round rental potential.
Corfu: Attractive for lifestyle buyers and holiday rental investors, with a blend of culture and beaches.
Naxos: A rising star with lower entry prices than Mykonos and Santorini, but growing rental demand.
Kefalonia: Offers a mix of lifestyle appeal and solid investment opportunities.
Paros: Increasingly popular among international buyers seeking luxury homes.
Syros (the cheapest one to buy real estate) : Known as a more affordable island with excellent long-term appreciation potential.

What Is the Best Area to Buy a Residential Home in Greece?

The best areas to buy a residential home in Greece depend on your lifestyle and goals. For families and professionals, Athens’ northern suburbs like Kifisia and Marousi offer greenery, international schools, and a refined standard of living. Those seeking luxury coastal living prefer the Athens Riviera, notably Glyfada, Voula, and Vouliagmeni, for its upscale seaside atmosphere and proximity to the city. Meanwhile, Thessaloniki provides a vibrant urban lifestyle at lower prices, while Crete stands out for retirees and lifestyle buyers looking for traditional charm blended with modern comfort.

What Is the Best Area to Buy a Property in Greece for High Rental and Appreciation?

The best areas to buy property in Greece for high rental yields and long-term appreciation are Central Athens neighborhoods such as Plaka, Kolonaki, and Koukaki. These areas combine strong tourism demand, economic growth, and expanding infrastructure, making them ideal for both Airbnb and long-term rentals and offering consistent value growth. The Athens Riviera, including Glyfada and Vouliagmeni, continues to attract expatriates and high-net-worth renters, with major coastal projects boosting appreciation. Thessaloniki also offers excellent potential thanks to its universities and rising business scene, while islands like Santorini, Mykonos, and Crete generate some of the highest short-term yields in Europe. Overall, Athens and its Riviera provide the strongest balance of rental income and capital growth, while the islands deliver premium returns for those able to invest at higher entry points.

Best Property Types for Real Estate Investing in Greece

The best property type to invest in Greece depends on your investment objectives, budget, and risk appetite. The Greek market offers a variety of opportunities across residential, commercial, and land investments, each with distinct benefits and considerations.

Residential Properties
Residential real estate is the most popular choice among foreign investors, especially for those seeking eligibility under Greece Golden Visa program. Within residential, the options include:
- Apartments in Central Athens: High demand from tourists (Airbnb) and long-term renters makes these a reliable choice with yields averaging 4–6%.
- Luxury Villas on the Islands: Properties in Mykonos, Santorini, or Crete deliver some of the highest rental yields in Greece, often 7–10%, due to tourism.
- Suburban Homes or Seaside Houses: Attractive for expatriates and families seeking long-term stays, particularly in the Athens Riviera (Glyfada, Vouliagmeni).

Commercial Properties
Greece’s recovery and growing economy have boosted interest in offices, retail spaces, and hospitality assets.
- Hotels and Boutique Properties: Ideal for tourism-driven areas like Santorini or Crete, offering strong seasonal income.
- Office Spaces in Athens and Thessaloniki: Demand is growing from startups, multinational firms, and shipping companies due to Greece’s strategic location.

Land Investments
Purchasing land can be attractive for long-term investors, especially in areas with planned infrastructure or near coastal regions. However, land development requires permits and a longer horizon before returns materialize.

Investor Insight

For most international investors, residential properties in central Athens or along the Athens Riviera strike the best balance between affordability, rental demand, and appreciation potential. However, those with higher capital and an appetite for luxury may find villas on Mykonos, Santorini, or Crete to be highly profitable. Commercial real estate is better suited for experienced investors seeking diversification.

What is the Best Time to Buy Real Estate in Greece?

The best time of the year to buy real estate in Greece is typically between late autumn and early spring (November to March). During these months, the market is less competitive, property owners are more open to negotiation, and prices are often slightly lower compared to the busy summer season when demand peaks due to tourism. This period also allows buyers more flexibility for property viewings and smoother legal processing before the summer rush.

The best time to buy real estate in Greece for investment is the right time in 2025!! Greece’s real estate market continues to show robust growth, driven by rising demand from both international investors and the Golden Visa program. Property values in key areas like Athens and Thessaloniki have been climbing steadily, yet remain below the levels of comparable European destinations such as Spain or Portugal. Combined with record-breaking tourism figures and a stable economic outlook, 2025 offers a prime window for investors to benefit from both immediate rental income and long-term appreciation.

Can I get Greek citizenship if I invest in Real Estate?

Investing in Greek real estate doesn’t grant direct or instant citizenship, but it offers a clear path through Greece Golden Visa program, which provides permanent residency to non-EU investors. By purchasing property worth at least €250,000 (or higher in select prime regions), investors and their families can obtain renewable 5-year residence permits. After maintaining residency and demonstrating seven years of continuous legal residence in Greece, along with proof of integration such as Greek language proficiency and ties to the community, investors may apply for Greek citizenship. This route makes real estate investment an attractive long-term strategy for those seeking both lifestyle benefits and eventual EU citizenship.

What are the pitfalls of buying property in Greece?

The pitfalls of buying property in Greece often stem from bureaucracy, legal complexity, and hidden costs that many investors overlook:

Complex bureaucracy: Lengthy administrative processes can slow down property transactions and permit approvals.
Unclear property titles: Ownership disputes or inheritance complications are common, making thorough legal checks essential.
High transaction costs: Buyers must account for notary, lawyer, registration fees, and taxes in addition to the purchase price.
Annual property taxes (ENFIA): This ongoing tax can be a financial burden, especially on multiple or high-value properties.
Maintenance and renovation needs: Many Greek homes, especially older ones, require costly renovations.
Market volatility: Property values can fluctuate due to Greece’s economic sensitivity to external shocks.
Residency vs. citizenship gap: Property investment secures residency via the Golden Visa, but not citizenship. Naturalization takes years of living in Greece and cultural integration.

Partnering with an expert advisory agency like Global For Citizenship and Residency (GICG) can help you avoid these challenges and make confident investment decisions. With deep experience in international real estate and investment migration, GICG provides full legal guidance, property due diligence, and tailored investment advice, ensuring your property purchase in Greece is smooth, secure, and strategically rewarding.

How Much Does a Home Cost in Greece?

In Greece, home prices vary significantly depending on location, age, condition, and proximity to prime areas. Below are current averages per square meter and typical costs for an “average” apartment to give you a realistic picture of what you’d pay.

Home costs in Greece vary significantly by region, but you can expect an average price of around €2,580 per square meter, with prices ranging from around €650/m² in rural areas to over €7,000/m² on popular islands like Mykonos. For example, homes in Athens cost approximately €2,500–€8,000/m², while in Crete, the average is about €1,900–€2,188/m².

What is the Average Price of a Home Per Square Meter in Greece?

In Athens (central areas), residential properties are currently priced around €2,480 to €2,944 per m².
Newer properties (up to 5 years old), especially in prime neighborhoods or well-developed suburbs, often exceed €3,000 per m².
In less central or suburban areas of Attica and outside Athens, average asking prices are lower, often in the range of €2,100 to €3,500 per m², depending on the neighborhood.

What is the price of an average-sized apartment in Greece?

To translate those per-sqm figures into what you might actually pay for an average-sized home in various areas around Greece:

A mid-quality apartment around 70–80 m² in a central Athens location priced at €2,500 per m² would cost roughly €175,000 to €200,000.
A similar-sized apartment in a newer build or more upscale neighborhood (say €3,500 per m²) could run you €245,000 to €280,000.
If you step out to suburban or less central areas, where prices are closer to €2,000-€2,800 per m², the cost for a 70-80 m² apartment would be more like €140,000 to €220,000, depending on condition and amenities.

Real Estate Investment in Greece vs Cyprus: Which Is Better?

When comparing real estate investment in Greece vs Cyprus, both markets offer attractive opportunities, but they differ in entry costs, growth potential, taxes, and processing speed.

Investment Threshold: Greece from €250,000 (higher in Athens/Mykonos/Santorini). Cyprus requires €300,000 + VAT for a new property.
Prices & Growth: Greece shows strong growth (Athens suburbs ~€3,750/m² in 2024). Cyprus prices are rising ~7–8% yearly.
Rental Yields: Greece 4–6%, especially with short-term rentals; Cyprus, similar, but high entry prices may limit returns.
Taxes & Costs: Greece has an annual ENFIA tax + transfer fees; Cyprus has no annual property tax, but stamp duty and VAT may apply.
Process: Cyprus offers faster approvals (~2–3 months). Greece takes longer with more paperwork.

So if your primary goal is capital appreciation and long-term growth, Greece stands out as the stronger option. Property values in key cities like Athens and Thessaloniki continue to rise steadily, driven by tourism, foreign investment, and economic recovery. The lower entry point starting from €250,000 also makes Greece one of the most accessible EU real estate markets for global investors.

If your focus is on steady rental income and simplified taxation, Cyprus may be more appealing. The island offers a straightforward tax regime and faster Golden Visa processing (around two to three months), although the required investment threshold is higher at €300,000 plus VAT.

For those seeking the lowest investment requirement with high appreciation potential, Greece remains the ideal choice, particularly for investors looking to combine lifestyle benefits, Schengen access, and strong property performance within the EU.

Real Estate Investment in Greece vs Spain: Which Is Better?

When comparing Greece and Spain, investors often look at residency options, property affordability, and returns. With recent changes in Spain, the comparison has shifted significantly.

Golden Visa: Spain officially ended its real-estate Golden Visa route in 2025, while Greece still offers it through property investment.
Affordability: Property in Greece is generally cheaper per square meter than in Spanish hotspots like Madrid or Barcelona.
Rental Yield: Greece often delivers higher rental yields (4–6%) due to lower entry costs, especially in tourist areas. Spain’s yields are strong but generally lower because of higher property prices.
Capital Appreciation: Spain offers stability and mature growth, while Greece provides higher potential appreciation as its market continues to recover and expand.
Regulatory Risk: Spain’s policy shift adds uncertainty for residency-seeking investors. Greece, though adjusting thresholds, remains more accessible.

In summary, if your primary goal is capital appreciation and long-term growth, Greece stands out as the stronger option. Property values in key areas like Athens, Thessaloniki, and the islands continue to rise, driven by expanding tourism, foreign demand, and post-crisis recovery. The lower investment entry point starting from €250,000 also makes Greece one of the most accessible EU real estate markets for global investors.

If your focus is on long-term market stability and mature infrastructure, Spain remains an attractive destination offering robust property value retention and a well-established real estate ecosystem, even though its Golden Visa through real estate has officially ended in 2025.

For investors prioritizing affordability, EU residency, and high appreciation potential, Greece is the clear winner, combining lifestyle advantages, Schengen access, and some of the most competitive property prices in the Mediterranean.

Conclusion

Greece has emerged as one of Europe’s most attractive real estate investment destinations. From its growing economy and booming tourism sector to competitive property prices, strong rental yields, and the highly regarded Golden Visa program, the country offers a unique combination of lifestyle benefits and financial opportunities. Compared to other European markets such as Spain and Cyprus, Greece stands out not only for affordability but also for the security it provides investors seeking EU residency.

However, navigating property investment abroad can be complex. Legal requirements, taxes, residency rules, and the choice of the right location all demand expert guidance. This is where Global For Citizenship and Residency (GICG) plays a crucial role.

At GICG (Global For Citizenship and Residency), we help investors like you make informed, strategic decisions from selecting the best property and understanding the legal framework to securing your residency through Greece’s Golden Visa. With our global expertise and local insight, you gain a trusted partner to simplify the process and maximize your investment returns.

Take the next step with confidence and contact GICG (Global For Citizenship and Residency) today to explore your real estate investment opportunities in Greece and secure your future in Europe.