With its rising house prices and a thriving tourism market, Greece has become one of Europe’s top destinations for property investors. If youโre looking to capitalise on the momentum, hereโs what you need to know.
After years of muted growth following the 2015 debt crisis, Greeceโs property market has strengthened since the pandemic, putting Greece firmly back onto the map for international investors.
With the countryโs economy growing, construction surging and new infrastructure projects on the way, now an opportune moment to invest in Greek property. Here’s how to invest confidently โ and make it work for your long-term goals.
Download the Greece Buying Guide
Contents
Why invest in Greece?
Tourism is Greeceโs calling card. With over 30 million high-spending visitors arriving annually, demand for quality accommodation remains strong. And with urban house prices rising more than 7% year-on-year in the last quarter of 2024, capital growth is firmly back on the table. Despite this, Greek property remains more affordable than in Spain, Portugal, the UK and the US.
Building a smart investment strategy
If youโre hoping to build a profitable Greek property portfolio, hereโs what youโll want to focus on:
| Step | What to consider | Why it matters |
|---|---|---|
| Market research | Compare property types and yields in key regions | Identifies the best areas for rental income or capital growth |
| Set your budget | Include legal, tax, renovation and management costs | Helps avoid unexpected expenses |
| Get legal advice | Use an independent Greek lawyer | Essential for staying compliant, especially with rental rules |
| Diversify | Consider buying across different regions or property types | Spreads risk across your portfolio |
| Review regularly | Monitor performance and adjust strategy | Keeps you aligned with long-term goals |
Understanding the Greek property market
Surging international demand has breathed new life into Greeceโs property market. In 2023, international buyers accounted for around 80-85% of all transactions, with total foreign investment reaching โฌ3bn โ a record high. Despite rising prices, there are still pockets of excellent value across the mainland and islands.
The infrastructure boom and what it means for investors
Major developments are fuelling optimism. A new international airport is underway in Crete, 11 national road projects are in motion and Ellinikon โ a 650-acre luxury coastal complex near Athens โ is bringing high-end homes, shops and a marina to the area. All of this boosts regional demand, making surrounding areas more appealing to investors.
Golden visa: residency through investment
Greeceโs golden visa programme offers five-year residency to non-EU nationals who invest in property. The rules vary by region:
- โฌ800,000 minimum in popular locations: Attica (Athens), Thessaloniki, Mykonos, Santorini, and islands with over 3,100 residents.
- โฌ400,000 minimum for all other areas.
- In specific restoration cases, the threshold may drop to โฌ250,000.
This programme is popular with buyers from the UK, US, China and Israel, offering both lifestyle benefits and visa-free access across the Schengen Area. Rules can and do change, so always check with your lawyer before proceeding.
Download the golden visa guide
Short-term rentals: what you need to know
The Airbnb boom in Greece, especially in Crete and the Cyclades, has made short-term rentals highly profitable. From 2019 to 2023, average nightly prices jumped by 57% โ from โฌ122 to โฌ191. However, youโll need to comply with strict rules:
- Renting one or two properties requires a small accommodation fee (โฌ1.50 per booking).
- Renting three or more is treated as a business: youโll need to pay 13% VAT and taxes and fees that hotels pay.
- Stays over 30 days canโt be listed on platforms like Airbnb โ these are classified as long-term rentals.
- Your property will need an EOT licence (covering room size, pool safety, etc.)
It’s also worth noting that the Greek government has been cracking down on Airbnb and other short-term rental platforms recently to free up housing for locals. From 1st January 2025, no new licences will be issued for short-term lets in three key districts of Athens and Greeceโs tax authority is stepping up enforcement against undeclared rental income, with data audits and heavy fines for non-compliance. New rules are also being introduced to ensure quality and sustainability in the sector, including restrictions on the types of buildings eligible for holiday letting.
Rental income tax rates
- Up to โฌ12,000: 15%
- โฌ12,001-โฌ35,000: 35%
- Over โฌ35,000: 45%
How to get started
Start by speaking to an independent advisor who knows the Greek market. Work with a bilingual lawyer, research your chosen location thoroughly and explore mortgage options early if you need financing. Once your plans are clear, you can arrange virtual viewings and even make an offer remotely.
Speak to a Greece property expert
Frequently asked questions
The investment threshold depends on where you buy. In popular areas such as Athens, Thessaloniki, Mykonos, Santorini and larger islands, the minimum is โฌ800,000. In all other regions, itโs โฌ400,000. In some cases, such as restoration projects, the requirement can fall to โฌ250,000. These figures are set by law, so always check the latest guidance before making an offer.
For many buyers, yes. The golden visa not only secures residency rights for you and your family, but it also gives access to the Schengen Area. Paired with Greeceโs rising property values and strong tourism market, the scheme can offer a balance of lifestyle benefits and long-term financial potential. However, as with any investment, choosing the right property and location is key.
Yes. Buying a property can qualify you for the golden visa, which provides renewable five-year residency. After five years of continuous legal residency, you can apply for permanent residency, provided you continue to meet the programme requirements. Eventually, long-term residents may also become eligible to apply for Greek citizenship.
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