Between 2023 and 2025, real estate prices in Greece increased by 10%, driven by increased demand from foreigners. One reason is the relatively low cost of housing compared to other EU countries. The average price per square meter in Greece is EUR 2,540, compared to EUR 4,415 in France, EUR 2,990 in Spain, and EUR 2,750 in Cyprus. Another reason is the immigration program that allows you to obtain a «golden visa», a 5-year Greek residence permit, by purchasing real estate.
Apartments and houses in Greece are also purchased by those planning to rent them out. The average yield can reach 11%, providing a stable passive income. Moreover, rental demand is high, especially in tourist cities: Over 7.9 million people visited Athens last year alone, and 40.7 million tourists visited in 2024.
Real estate prices in Greece in 2025
Real estate prices in Greece are steadily rising. In August 2023, the average price per square meter nationwide was EUR 2,408. By August 2025, the average price had increased to EUR 2,647. This indicates gradual but stable market development, with prices increasing by almost 10% in 2 years.
However, housing prices in Greece are growing unevenly. Over the past year, the greatest price increases have been seen for apartments and houses in:
- Athens (+13.2% in the central part)
- Kavala (+36.4%)
- Karditsa (+13%)
- Evrytania (+16.2%)
- Laconia (+19.7%)
- Thesprotia (+22%)
- Chania (+22%)
- Messinia (+21.4%)
- Lefkada Island (+22.4%)
During the same period, property prices fell in several regions, including Kastoria (-12.7%), Kozani (-1%), Trikala (-1.1%), Imathia (-0.4%), and Phthiotis (-1.1%).
Property prices in Greece rise at different rates due to the following:
- Tourist flow: prices are always higher in popular traveler destinations (Athens, Thessaloniki, etc.).
- Geographic location: property is more expensive in large cities and resort areas.
- Infrastructure development: prices are higher if important transportation hubs, schools, hospitals, and parks are nearby.
- Demand among the population: it is always lower in smaller towns and villages.
Property prices also vary significantly across Greece. For EUR 150,000, you can purchase:
| City | Property type | Area, m2 | Additional parameters |
|---|---|---|---|
| Athens | Apartment | 65 | Renovated and furnished |
| Thessaloniki | Studio Apartment | 35 | Renovated and furnished |
| Ano Chora | House | 84 | With a 280 m² plot |
| Fourni Island | House | 103 | With a 149 m² plot |
| Pisoderi | House | 146 | With a 350 m² plot |
For EUR 250,000, you can consider purchasing the following:
- a 56 m² apartment in the center of Athens that was renovated in 2025;
- a 225 m² house in Chloi, Kastoria region, built in 2005;
- a 110 m² house on the coast of Arogi Beach (Thracian Sea);
- an 80 m² townhouse in Neapolis, 20 meters from the sea;
- a 126 m² apartment in Piraeus, renovated in 2025.
For EUR 500,000, you can purchase the following properties in Greece:
| City | Property type | Area, m2 | Additional parameters |
|---|---|---|---|
| Athens | Apartment | 147 | Renovated in 2025 |
| Piraeus | Apartment | 150 | 100 m from the sea |
| Thessaloniki | Townhouse | 220 | Three-story |
| Syvota | House | 192 | With a 200 m² plot |
| Samos Island | House | 214 | With a 700 m² plot |
Prices by region
Now, let’s take a look at the prices of 60 m² apartments in various cities in Greece:
| City | Price in the city center, € | Price in the suburbs, € |
|---|---|---|
| Athens | 150,000–300,000 | 144,000–270,000 |
| Thessaloniki | 168,000–270,000 | 114,000–210,000 |
| Rhodes | 150,000–210,000 | 60,000–150,000 |
| Patras | 102,000–162,000 | 84,000–150,000 |
| Piraeus | 180,000–186,000 | 132,000–162,000 |
| Heraklion | 180,000–270,000 | 120,000–222,000 |
| Larissa | 132,000–180,000 | 108,000–168,000 |
| Volos | 120,000–156,000 | 78,000–90,000 |
| Santorini | From 270,000 | From 180,000 |
| Katerini | 72,000–102,000 | 60,000–84,000 |
Investors who plan to rent out their property find Athens an attractive place to buy. The city welcomes tourists year-round, in 2024 alone, it welcomed over 7.9 million visitors.
Thessaloniki is ideal for families with children, businesspeople, freelancers, and students. It is the second-largest city in Greece and has a well-developed infrastructure, including numerous schools (some of which are international schools that use English as the language of instruction), 5 universities, and coworking spaces.
Property in Crete (e.g. Heraklion), Rhodes, and Santorini is popular among those planning to rent out their property short-term. There are numerous luxury apartments, which are popular among wealthy foreigners.
Those accustomed to a more relaxed and tranquil lifestyle may want to consider property in Patras, Larissa, and Katerini. These quiet towns have well-developed infrastructures for adults and children, and housing prices are much more affordable than in larger cities.
Businessmen often choose Piraeus and Volos for property purchases. These cities are home to two seaports that are essential for international trade.
Additional costs when buying real estate in Greece
All buyers of real estate in Greece are required to pay a property transfer tax (Φορολογία Μεταβίβασης Ακινήτων – FMA). In 2025, the rate was 3% of the property’s value. For example, for a property worth EUR 250,000, the tax would be EUR 7,500.
There is also a notary fee, which depends on the property’s value:
| Property value, € | Rate, % |
|---|---|
| Up to 120,000 | 0.8 |
| 120,00.01–380,000 | 0.7 |
| 380,000.01–2,000,000 | 0.65 |
| 2,000,000.01–5,000,000 | 0.55 |
| 5,000,000.01–8,000,000 | 0.5 |
| 8,000,000.01–10,000,000 | 0.4 |
| 10,000,000.01–12,000,000 | 0.3 |
| 12,000,000.01–20,000,000 | 0.25 |
| Over 20,000,000.01 | 0.1 |
The notary charges a fixed fee of EUR 20.
You must also pay a EUR 35 state fee to register the property with the Land Registry. If you are purchasing a house that has outbuildings, such as a garage, an additional fee of EUR 20 is charged.
Investing in Greek Real Estate: Profitability and Features
Rental properties in Greece are in high demand, so prices regularly rise. Based on data from the second quarter of 2025, prices have increased by an average of 7.2% over the past year.
Rental yields vary by region:
| City | Yield, % |
|---|---|
| Didymoteicho | 11 |
| Ptolemaida | 10.3 |
| Kozani | 9.3 |
| Karditsa | 8.7 |
| Agrinio, Orestiada | 8.6 |
| Veria | 8.5 |
| Samos Island | 8.4 |
| Agia Varvara | 8.2 |
| Lavrion | 7.9 |
| Neapolius | 7.3 |
| Stravroupoli | 6.6 |
| Nea Michaniona | 6.5 |
All landlords in Greece are required to pay income tax on their rental property. The rate depends on the amount of income received:
- Up to EUR 12 000— 15 %.
- From EUR 12 001 to EUR 35 000 — 35 %.
- Over EUR 35 001— 45 %.
All property owners are required to pay an annual property tax. This mandatory payment is calculated using a complex formula that considers factors such as the property’s size, location, year of construction, number of floors, type (apartment or detached house), and number of street-facing facades. Depending on the property’s geographic location, for example, the tax per square meter ranges from EUR 2 to EUR 13.
In Greece, tenants are responsible for paying utility bills, as specified in the lease agreement. For long-term leases, all utility bills must be transferred to the new occupant. This process involves submitting an online application to the Independent State Revenue Authority.
Before renting out a property, a safety certificate for all installed electrical appliances is mandatory. Licensed electricians, electrical fitters, and mechanical engineers issue this certificate. The certificate is valid for 10 years. The service fee is EUR 108.
You must also obtain an energy performance certificate and include the data from it in the rental advertisement and contract. You can order a property inspection from any certified company. The cost of issuing the document depends on the organization providing the service and the property’s size. For example, the cost is EUR 80 for an apartment up to 50 m², EUR 90 for an apartment up to 75 m², and EUR 100 for an apartment up to 100 m².
Where to invest?
Consult with a iWorld immigration expert
Residence Permit for Real Estate Purchase
In [current year], investors can obtain a 5-year residence permit by purchasing real estate in Greece. To qualify, investors must own the property outright or jointly with their spouse or officially registered partner.
The minimum purchase price depends on the property’s location:
- EUR 800 000 — Attica, Central Macedonia (Thessaloniki), South Aegean (Mykonos, Santorini), and islands with a population over 3,100;
- EUR 400 000 — other regions of Greece.
To obtain a 5-year Greek residence permit, one must invest at least EUR 250,000 in the property. However, it must meet one of the following conditions:
- it will be converted into residential premises after purchase;
- it consists of an industrial building or part thereof;
- it is located in an industrial building where no industrial enterprise has operated for the past 5 years;
- it is an architectural monument or part of one that is subject to restoration or reconstruction.
A 5-year Greek residence permit can be renewed for the same period as long as the investor continues to own the property. The length of time the owner spends in the country does not matter. The property can be used for rental income. The residence permit is issued relatively quickly, in just 2 months from the date of application. Along with the investor, their family members (spouse, children, and parents) can also obtain Greek residency.
To simplify the process and save time, consider contacting a lawyer. iWorld specialists are ready to provide comprehensive legal support in obtaining a Greek residence permit through investment, including explaining program details, selecting a suitable property, assisting with transactions, preparing documents, and obtaining residence cards.
Prospects for 2025-2027
Greece is currently one of the most attractive countries for real estate purchases. Prices remain affordable, and there is high demand and growth potential. Key local market trends for 2025–2027:
- Price growth
Prices for apartments, houses, and rental properties in Greece are expected to rise steadily. This is especially true in cities such as Athens and Thessaloniki, as well as in resort areas.
- Shortage of new buildings
There is a shortage of new housing due to the rising cost of building materials. Competition will force construction companies and apartment/house owners to raise prices. Even after renovations, older properties cannot compete with new buildings, so demand for the latter will increase every year.
- Growing interest in suburbs
Experts anticipate that, in the coming years, real estate in currently unpopular areas will be in demand. These areas include the suburbs of Athens, western Thessaloniki, and provincial cities such as Kavala, Rethymno, Nafplio, and Chania. These towns have well-developed infrastructure, but purchase prices are much lower.
- Steady demand among foreigners
The Greek Golden Visa program is one of the easiest ways to quickly become an EU resident. Therefore, the flow of immigrant investors is expected to continue despite the threshold being raised in 2024.
How to Make a Profitable Property Purchase in Greece
The process of buying property in Greece consists of 6 main steps:
- Search for a property
You can search online yourself (on websites such as spitogatos.gr or reauction.gr), or you can use a realtor’s services. If you choose the latter, be prepared to pay a broker’s commission, which averages 2% + 24% VAT of the property price. It’s best to work with lawyers who know the local market well and can find a property that suits your needs.
- Inspect the property
Before purchasing a property, be sure to check if it is registered with the land registry. Ensure that the property is free of any encumbrances, such as foreclosure or mortgages, and that there are no outstanding utility bills. This step is best left to lawyers, as independently searching for information is complicated by the language barrier and lack of access to state registers.
- Obtain a Taxpayer Identification Number
You cannot purchase real estate in Greece without a taxpayer identification number. You will also need one if you plan to rent out the property you purchase. You can request a taxpayer identification number online through the government portal Gov.gr, after which identification is conducted via video call or in person at the Public Finance Service. An official representative, such as a iWorld lawyer, can also apply for a taxpayer identification number on your behalf.
- Open a bank account (optional)
You don’t need to open a local bank account to purchase real estate in Greece; you can transfer funds for the property from abroad. However, you may need one later for things like renting out an apartment or house. To open an account, visit a Greek bank branch (Eurobank, for example) or submit an application online through their website or mobile app.
- Sign a contract with a notary
You cannot finalize the purchase of real estate without the assistance of a notary. Choose a suitable professional in Greece and sign a contract with them.
- Preliminary Purchase agreement (optional)
The notary will draw up a preliminary agreement that specifies the details of the buyer and seller, the property (type, address, area, and year of construction), and the terms of the transaction (price, payment method, and deadline). After signing, a deposit is paid. The exact amount is not set by law, but it is usually 5% to 10% of the property price.
- Complete the purchase
The notary draws up the property purchase agreement and prepares the documents for the seller and buyer. The lawyer will provide you with the exact list of documents you will need. Typically, this includes a passport and a Greek tax identification number. iWorld specialists can provide a complete list. The notary conducts the transaction online, informs you where and how to pay the transfer tax, and registers the agreement with the Land Registry. The government agency will verify all documents within a business day. If everything is in order, they will issue a title deed.
In 2025, buying real estate in Greece is a profitable investment that allows you to increase your capital, live in a sunny country, and quickly obtain a European residence permit. You can expedite both processes by contacting iWorld specialists. They will help you select and inspect a property, prepare all the necessary documents for the purchase and sale transactions and residence permit application, explain every detail, and guide you through each step of the process.
Get a residence permit through real estate investment
- Select the suitable country and property
- Organize the purchase process
- Guide you through the residence permit application process
- Provide the necessary additional services
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