With its rising house prices and a thriving tourism market, Greece has become one of Europe’s top destinations for property investors. If you’re looking to capitalise on the momentum, here’s what you need to know.
After years of muted growth following the 2015 debt crisis, Greece’s property market has strengthened since the pandemic, putting Greece firmly back onto the map for international investors.
With the country’s economy growing, construction surging and new infrastructure projects on the way, now an opportune moment to buy Greek property. Here’s how to invest confidently – and make it work for your long-term goals.
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Contents
Why invest in property in Greece?
Tourism is Greece’s 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 you’re hoping to build a profitable Greek property portfolio, here’s what you’ll 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 Greece’s property market. In 2023, international buyers accounted for around 80-85% of all transactions, with total foreign investment reaching €3bn – 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 – a 650-acre luxury coastal complex near Athens – 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
Greece’s golden visa programme offers five-year residency to non-EU nationals who invest in property. The rules vary by region:
- €800,000 minimum in popular locations: Attica (Athens), Thessaloniki, Mykonos, Santorini, and islands with over 3,100 residents.
- €400,000 minimum for all other areas.
- In specific restoration cases, the threshold may drop to €250,000.
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% – from €122 to €191. However, you’ll need to comply with strict rules:
- Short-term lets are subject to a climate resilience tax (currently from €1.50 per night, depending on the property).
- Renting three or more properties is typically treated as a business, meaning you may need to pay 13% VAT as well as additional taxes and fees similar to those applied to hotels.
- Your property must be registered on the Short-Term Rental Registry and meet safety and compliance standards. In some cases, a tourism (EOT) licence may be required.
- Stays over 30 days are usually classified as long-term rentals, so they fall under a different tax and regulatory framework than short-term holiday lets.
It’s also worth noting that the Greek government has been tightening regulations on short-term rental platforms to help address housing shortages. From 2025, restrictions have been introduced on new short-term rental registrations in certain districts of Athens, while enforcement around undeclared rental income has increased, with data audits and fines for non-compliance. Further rules are also being introduced to improve quality and sustainability, including limits on eligible property types.
Rental income tax rates
- Up to €12,000: 15%
- €12,001-€35,000: 35%
- Over €35,000: 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 €800,000. In all other regions, it’s €400,000. In some cases, such as restoration projects, the requirement can fall to €250,000. 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 Greece’s 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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