v256.0 · real-estate · GR · verified 2026-04
Greece real-estate market
Real-estate market in Greece for foreign buyers — ownership rules, residency-by-investment, average prices, mortgage availability, transaction costs, rental yields, top brokerages, recent regulatory changes.
Market size
EUR 250B+ residential market (2024) — strong post-2018 recovery
Currency
EUR
Foreign-buyer access
No general restrictions on foreign purchase (EU + non-EU) · Restricted zones (near borders, some islands) req...
Rental yields
Athens: 4-6% gross · Mykonos/Santorini: 6-10% (seasonal short-term highest) · Crete/Rhodes: 5-8% · Thessalo...
Ownership rules + RBI pathway
| Foreign-buyer rules | No general restrictions on foreign purchase (EU + non-EU) · Restricted zones (near borders, some islands) require approval · AFM (Greek tax number) mandatory · Greek attorney recommended |
| Residency-by-investment | Golden Visa via real-estate — EUR 250K (most regions) raised to EUR 800K in Athens, Thessaloniki, Mykonos, Santorini effective Sept 2024 · Other regions EUR 400K (from May 2024) · 5-year renewable residence permit |
| Regulator | Hellenic Cadastre · Bank of Greece (banking) |
Average prices
| Capital city | Athens centre (Plaka, Kolonaki, Glyfada): EUR 2,800-5,500/sqm · Athens suburbs (Kifissia, Vouliagmeni): EUR 3,500-7,000/sqm · Athens outer: EUR 1,500-2,800/sqm |
| Secondary markets | Mykonos: EUR 4,500-12,000/sqm · Santorini: EUR 4,000-10,000/sqm · Crete (Chania): EUR 2,000-4,500/sqm · Rhodes: EUR 1,800-3,500/sqm · Thessaloniki: EUR 1,500-3,000/sqm · Corfu: EUR 1,800-3,500/sqm |
| Rental yields | Athens: 4-6% gross · Mykonos/Santorini: 6-10% (seasonal short-term highest) · Crete/Rhodes: 5-8% · Thessaloniki: 5-7% |
Mortgage + transaction costs
| Mortgage availability | Foreign-buyer mortgages: limited — Alpha Bank, Piraeus Bank, Eurobank 50-60% LTV · Rates 4-6% (2024) · Greek tax-resident better terms |
| Transaction costs | Transfer tax 3.09% · Notary 1-1.5% · Lawyer 1% (mandatory above EUR 80K) · Registration 0.5-0.7% · VAT 24% only on brand-new (suspended currently for new builds since 2020) · Total ~5-7% |
| Top brokerages | Engel & Völkers, Sotheby's, Savills, Greece Sotheby's, Algean Property, Demand Real Estate · spitogatos, xe.gr portals |
Recent changes (2023-2026)
2024: Golden Visa threshold raised to EUR 800K in major hubs (Athens, Thessaloniki, Mykonos, Santorini), EUR 400K elsewhere (effective Sept 2024) · Short-term rental licensing tightened in Athens centre and islands · 7% Sud Mezzogiorno-style retirement tax regime continues · DAC8 crypto-reporting effective 2026
Strengths
Drawbacks
- Golden Visa threshold raised to EUR 800K in major hubs (Sept 2024)
- Foreign-buyer mortgage availability limited 50-60% LTV
- Some islands seasonal volatility
- Short-term rental enforcement tightening
- Bureaucracy in some regional registries
- Greek language requirement for some processes
Source: official Greece regulator page · Last verified 2026-04
See also: Greece country profile · real-estate atlas