Guide to Investing in Greece's Real Estate Market
Table of Contents
Dreaming of your own holiday home in Greece with a view of the blue sea? Greece not only offers attractive coastal property prices but also a stable market that has seen a 12% increase in value compared to the previous year. Planning to buy property in Greece by 2025 presents a unique investment opportunity, because the rapidly developing tourist market and stable economy attract investors from all over the world. In this article, you'll discover insights from our Globihome team on the process of buying property in Greece, from choosing the ideal location to legal formalities, ensuring that your real estate investment in Greece is safe and profitable.
We have developed this article based on the experiences of our clients and a professional real estate agent we work with in Greece. If you are looking for property in Greece, at the end of the article we provide the contact of an excellent agent who can prepare current real estate offers in Greece
Current Real Estate Market in Greece
For centuries, Greece has fascinated investors with its unique blend of historical heritage, Mediterranean climate, and rapidly developing real estate market. Real estate in Greece in 2025 offers exceptional investment opportunities, especially after the economic crisis from 2010-2018, which led to a significant price correction, creating attractive conditions for international buyers. The real estate market in Greece has shown stable growth since 2019, driven by the Golden Visa program, a growing tourism sector, and an influx of foreign investments.
At Globihome, analyzing European real estate markets, we observe that buying property in Greece has become one of the most attractive options for investors seeking a combination of stable investment and high-quality lifestyle. Real estate for sale Greece is experiencing a true renaissance. According to the latest data from the Eurostat report, international interest in purchasing homes in Greece increased by 11.8% compared to the first quarter of 2023. The average price per square meter has risen by 12% over the past year, making Greece one of the most dynamic real estate markets in Europe.
Why Buy an Apartment in Greece in 2025?
Is it worth buying an apartment in Greece is a question investors are increasingly asking, and the answer is definitively positive for several key reasons. Investments in real estate in Greece offer a unique combination of macroeconomic, geographic, and legal factors that create ideal conditions for long-term investments.
Economic Stabilization and GDP Growth in Greece
The Greek economy, after a difficult period of debt crisis, is showing signs of stable improvement. According to data from the Hellenic Statistical Authority, Greece's GDP grew by 5.9% in 2021 and 5.2% in 2022, surpassing the EU average. The Bank of Greece forecasts continued growth of 2.5-3.2% annually until 2026, which directly translates to an increase in the value of real estate in Greece.
Golden Visa Program in Greece - Pathway to European Residency
Greece offers one of the most attractive programs Golden Visa Greece real estate, which allows obtaining a residence permit (and consequently EU citizenship) in exchange for investment in real estate. Currently, a three-zone system with different investment thresholds is in place:
- Zone A (800,000 EUR): Athens, Thessaloniki, Mykonos, Santorini
- Zone B (400,000 EUR): Crete, Rhodes, Corfu, regional cities
- Zone C (250,000 EUR): only commercial conversions and landmarks
Dynamic Growth of the Tourism Sector in Greece
Tourism accounts for 20.6% of Greece's GDP, and according to the Greek Tourism Confederation, in 2023 a record 36.1 million tourists visited Greece, generating revenues exceeding 20.5 billion euros. This growth directly impacts the profitability of investment apartments in Greece, particularly in the short-term rental segment.
Favorable Credit and Financial Conditions in Greece
The European Central Bank maintains low interest rates, which translates into attractive conditions for mortgage loans in Greece for foreigners. Major Greek banks offer financing up to 80% of the property's value with interest rates of 3.5-5.2% annually for EU citizens.
Real Estate Prices in Greece 2025
How much does an apartment cost in Greece 2025? Prices vary greatly depending on location. In central Athens, apartments range from 2500 to 4000 EUR per square meter, while on the Greek islands properties can be found from 1500 EUR/m². These prices are significantly lower than real estate in Spain or real estate in Madeira.
Athens Real Estate Prices 2025
Athens real estate as the capital and largest city offers the widest range of apartments, from historic townhouses in the Plaka district to modern apartments in Glyfada. Thessaloniki apartments, being the second largest city, have prices 25-35% lower than those in Athens while maintaining good infrastructure and growth prospects. Prices in Athens are as follows:
- City center: 3200-4500 EUR/m²
- Residential districts: 2500-3500 EUR/m²
- Suburbs: 2000-3000 EUR/m²
Houses in Greece on the Islands
Greek island real estate represents the most exclusive market segment, where seaside real estate prices in Greece reach the highest levels in the country. The best Greek islands for investment are Santorini, Mykonos, Crete, Rhodes, and Corfu, each offering unique investment characteristics.
- Santorini real estate: 4500-8000 EUR/m²
- Mykonos Apartments for Sale: 5000-12000 EUR/m²
- Cretan Houses Greece: 2200-4500 EUR/m²
- Rhodes Real Estate: 2000-3800 EUR/m²
- Zakynthos Apartments: 2500-4200 EUR/m²
- Corfu Villas: 3000-6500 EUR/m²
Sea View Real Estate in Greece
Prices for sea-view apartments in Greece are typically 20-40% higher than similar properties inland. Greece Real Estate First Seaside Front is a premium investment - prices can go up to 15,000 EUR/m² in the best locations.
Apartments in Thessaloniki
Thessaloniki, also known as Salonika, is the second largest city in Greece, after Athens. It is located on the northern coast of the Aegean Sea. Average prices range from 2,200-3,200 EUR/m², making it an attractive alternative to Athens.
Thessaloniki - Price per m²:
- Historic Center: 1,800-3,200 EUR/m²
- Kalamaria (seaside): 2,200-3,800 EUR/m²
- Panorama (hills): 2,000-3,500 EUR/m²
Best Places to Buy Real Estate in Greece
Santorini Real Estate - Icon of Luxury
Santorini Real Estate is synonymous with the most exclusive investments in Greece, where traditional white houses with blue domes reach prices comparable to the most expensive locations like Monaco and Saint-Tropez. The island attracts 3.4 million tourists annually, making it one of the most profitable locations for investment apartments in Greece.
Santorini - Real Estate Prices 2025:
- Oia (most photographed village): 12,000-25,000 EUR/m²
- Fira (island's capital): 8,000-15,000 EUR/m²
- Imerovigli (quieter location): 7,000-12,000 EUR/m²
- Perissa/Kamari (black sand beaches): 4,500-8,000 EUR/m²
Homes on Crete Greece - Largest Island with Diverse Opportunities
Homes on Crete Greece offer the most diverse market among Greek islands, from affordable properties in mountain villages to luxury sea-view apartments in Greece in coastal resorts. Crete, being the largest Greek island, features advanced infrastructure, two airports, and year-round tourist activity.
Crete - regional diversity:
- Heraklion (capital, airport): 1,800-3,500 EUR/m²
- Chania (Venetian city): 2,200-4,200 EUR/m²
- Rethymno (historic center): 1,900-3,800 EUR/m²
- Elounda (luxury resorts): 4,500-8,500 EUR/m²
- Agios Nikolaos: 2,500-4,800 EUR/m²
Rhodes Real Estate - Strategic Location
Rhodes properties are characterized by an excellent location at the crossroads of trade routes between Europe and Asia, and a rich historical heritage listed with UNESCO. The island offers 300 sunny days a year and a developed tourist infrastructure serving 2.5 million guests annually.
Rhodes - prices by location:
- Rhodes city (medieval): 2,800-4,500 EUR/m²
- Faliraki (main resort): 2,200-4,000 EUR/m²
- Lindos (ancient ruins): 3,200-5,500 EUR/m²
- Kallithea (spa): 2,500-4,200 EUR/m²
Corfu Villas for Sale - Aristocratic Tradition
Corfu villas for sale represent the most traditional segment of the Greek real estate market, where Venetian, French, and British architecture create a unique blend of styles. Historically, Corfu attracted European aristocracy, and today it offers holiday homes Greece for sale of the highest standards.
Corfu - exclusive locations:
- Corfu Town (UNESCO): 3,200-5,800 EUR/m²
- Kommeno Peninsula (luxurious): 5,000-9,500 EUR/m²
- Paleokastritsa (picturesque): 2,800-4,500 EUR/m²
- Kassiopi (northern resort): 2,500-4,200 EUR/m²
Athens and Surroundings
Apartments in Athens for sale are a choice for investors who value an urban lifestyle. The capital offers the largest selection of investment apartments Greece with high long-term rental yields.
Southern suburbs of Athens, like Glyfada or Voula, offer Greek island properties climate while maintaining urban amenities.
Our clients often consider purchasing in Greece or Cyprus. If you want to buy property in Cyprus, be sure to read the article Real Estate in Cyprus 2025: Best Deals and Complete Investor’s Guide
Step-by-Step Guide to Buying Property in Greece
How to safely buy property in Greece? Although the process may seem complicated, with the help of real estate agencies from Greece it can be handled smoothly and effortlessly. It's important to ensure you are assisted by a local, verified, and reputable agent. If you wish, at the end of the article we provide contact information for the agent we collaborate with at Globihome.
Stage 1: Finding the Property and Initial Formalities
Agency Choice: Choose a reputable local agency familiar with the procedures for purchasing property in Greece and offering legal support.
AFM Number: You must obtain a Greek tax number (AFM) from the local tax office.
Bank Account: Opening an account in a Greek bank is essential for conducting transactions.
Stage 2: Legal and Technical Verification
Before signing the preliminary contract, conducting due diligence is crucial. In collaboration with our recommended agent, you will thoroughly check if the property has no mortgage encumbrances, all the documents are in order, and whether the property is legal and complies with zoning plans.
Stage 3: Signing the Contract and Transfer of Ownership
Preliminary Contract: You secure the property by paying a deposit (usually 10% of the price).
Signing of Notarial Deed: The signing of the final notarial deed takes place in the presence of a notary. At this point, full payment for the property is made, including taxes on property purchase in Greece.
Registration: The notary registers the deed in the Land Registry, officially transferring ownership to the new owner.
Golden Visa Greece - Residence through Real Estate
Golden visa Greece real estate is a residency-by-investment program that allows obtaining a 5-year residence permit in exchange for real estate investment.
Golden visa Greece requirements 2025:
Minimum Investment Thresholds:
- €250,000 - for properties intended for renovation or conversion from commercial to residential
- €400,000 - for properties in most regions of Greece (minimum 120 m²)
- €800,000 - for properties in Athens, Thessaloniki, Mykonos, Santorini, and islands with populations over 3100 residents
Benefits of Golden Visa:
- Residence in Greece via real estate without the necessity of living
- Free travel within the Schengen area
- Eligibility to apply for citizenship after 7 years
- Including family in a single application
Important: From 2024, properties purchased under the Golden Visa cannot be rented short-term (Airbnb).
Costs of Buying and Maintaining Property in Greece
Home Buying Costs in Greece
What documents are required to purchase property in Greece and how much do the formalities cost? In addition to the property price, additional costs must be considered:
Taxes when buying property in Greece:
- Transfer tax: 3.09% (second-hand properties)
- VAT: 24% (new properties from developers, currently suspended until 2025)
Professional fees:
- Lawyer: 1.5% + 24% VAT
- Notary: 1.5% + 24% VAT
- Land registry registration: 0.5%
Example costs for a property valued at 150,000 EUR:
- Transfer tax: 4,635 EUR
- Lawyer: 2,790 EUR
- Notary: 2,790 EUR
- Registration: 750 EUR
- Total: approximately 11,000 EUR
Mortgage in Greece for Foreigners
Greek banks offer mortgages for foreigners on favorable terms:
- Down payment: 30-40%
- Interest rate: 3.5-5.5% per annum
- Loan term: up to 30 years
- Required income: documented for a minimum of 2 years
Maintenance Costs
Property taxes in Greece:
- ENFIA (annual property tax): 0.2-1.8% of cadastral value
- Income tax from rental: 15-45% (depending on income level)
Utilities and maintenance:
- Electricity: 80-150 EUR/month (depending on season)
- Water: 30-50 EUR/month
- Internet: 25-40 EUR/month
- Insurance: 200-500 EUR/year
Profitability and Property Management in Greece
Is it worth investing in properties in Greece from a profitability perspective is a question requiring analysis of various investment strategies and business models. Greece offers several avenues for generating real estate income, from traditional long-term rentals to modern short-term platforms, each with unique profitability characteristics. According to data from Globihome, the average annual profitability for property rental in Greece is:
Santorini
- Caldera view studio: 180-350 EUR/night
- 2-bedroom apartment: 250-500 EUR/night
- Villa with pool: 600-1,500 EUR/night
- Average annual yield: 8-15%
Mykonos
- Central studio: 120-280 EUR/night
- Seaside apartment: 200-450 EUR/night
- Luxury villa: 500-2,000 EUR/night
- Average annual yield: 7-12%
Crete
- Apartment in Chania: 60-150 EUR/night
- House with pool: 100-300 EUR/night
- Luxury resort: 200-600 EUR/night
- Average annual yield: 6-10%
Athens
- Central studio: 400-700 EUR/month
- 2-bedroom Kolonaki: 800-1,400 EUR/month
- 3-bedroom Glyfada: 1,200-2,200 EUR/month
- Average yield: 4-7% annually
Thessaloniki
- Central studio: 300-500 EUR/month
- 2-bedroom Kalamaria: 500-900 EUR/month
- 3-bedroom Panorama: 700-1,300 EUR/month
- Average yield: 5-8% annually
Is it Worth Buying an Apartment in Greece? Conclusion
Investing in real estate in Greece is a forward-thinking decision, especially considering the growing tourism market and stable economy. Purchasing real estate in Greece offers the opportunity for:
- Generating passive income from rentals,
- Capital appreciation,
- Owning your own retreat in one of Europe's most beautiful countries.
Is it worth investing in real estate in Greece? The figures and market trends don't lie – the Greek real estate market is attractive and offers diverse opportunities for every investor. In our opinion, the key is thorough market research, choosing the right location, and utilizing the services of experienced professionals.
Frequently Asked Questions about Real Estate in Greece
Can a foreigner buy a house in Greece?
Yes, EU citizens have full rights to purchase property. Non-EU citizens may need additional permits in border areas.
Can a foreigner get a mortgage in Greece?
Yes, mortgages in Greece for foreigners are available at major banks. EU citizens can finance up to 80% of the property's value, requiring income 3 times higher than the loan installment. The interest rate is 3.5-5.5% per annum.
How much does an apartment in Greece cost in 2025?
Prices start from 1,500 EUR/m² on the islands to 8,000 EUR/m² in prestigious locations like Mykonos or Santorini.
How long does the process of buying property in Greece take?
The standard process takes 2-6 weeks from choosing a property to receiving the keys.
How much does the golden visa in Greece cost?
The minimum investment is €250,000 for renovation properties, €400,000 in most regions, €800,000 in Athens and popular islands.
Can you obtain Greek citizenship by purchasing property?
The Golden Visa does not directly lead to citizenship. Residency in Greece through property allows applying for citizenship after 7 years of continuous residence, passing a Greek language and history exam, and demonstrating ties to the country.
Is it worth buying an apartment in Greece?
Yes, especially in 2025. The market shows stable growth, high rental income, and excellent long-term prospects.
The best Greek islands for investment?
Crete, Rhodes, Zakynthos, and Corfu offer the best value for money. Mykonos and Santorini are choices for premium investors.
Where is the best place to buy property in Greece?
Athens for stable rental income, islands for value growth and seasonal income, Thessaloniki for cost efficiency.
Summary
Investments in Greek real estate in 2025 present a unique opportunity. They combine attractive pricing, stable value growth, high rental income, and the possibility of obtaining European residency. Real estate in Greece offers not only financial returns but also access to one of Europe's most beautiful countries with rich history and culture.
With proper preparation and the help of local experts, buying real estate in Greece can become the beginning of not only a successful investment but also a new chapter of life in sunny Hellas.
If you are planning to purchase property in Greece, contact a reliable local real estate agent today to receive current property listings. Contact information can be found below.
