Buying Property in Greece 2025

Introduction

Greece’s property market in 2025 continues its remarkable transformation, balancing post-pandemic recovery with sustainable growth patterns. With transaction volumes exceeding €8.2 billion in 2024 (a 15% increase from 2023) and foreign direct investment in real estate reaching historic levels, the market demonstrates both resilience and maturation. For international buyers, Greece offers a compelling combination of lifestyle appeal, investment potential, and a streamlined acquisition process.

This comprehensive guide examines the current state of buying property in Greece in 2025, analyzing regional price trends, regulatory developments, investment opportunities, and practical considerations for prospective buyers. Whether you’re seeking a permanent residence, vacation home, or pure investment, understanding Greece’s diverse property landscape is essential for making informed decisions in this dynamic market.

Greece Property Market Overview 2025

Key Market Indicators and Price Trends

The Greek property market in 2025 shows clear signs of stabilization after several years of robust growth. National average residential prices increased by 7.3% in 2024, with projections indicating a more moderate 4.5–5.2% growth for 2025. This deceleration represents healthy market normalization rather than correction, supported by:

• Mortgage lending up 22% year-on-year, with interest rates stabilizing
• Construction permits increasing 18% nationally, addressing supply constraints
• Average time-on-market reduced to 65 days (from 82 days in 2023)
• Price-to-rent ratios settling at sustainable levels in major urban centers

The Bank of Greece reports that property investment now accounts for approximately 25% of total foreign direct investment. Construction quality and energy efficiency have become significant price determinants, with A+ energy-rated properties commanding 15–20% premiums over equivalent C-rated properties.

Foreign vs. Domestic Buyer Dynamics

Foreign buyers continue to shape the Greek property market in 2025, accounting for approximately 30% of total transaction value nationwide and over 45% in premium locations. Key insights into buyer demographics:

• European buyers (primarily German, French, and Dutch) represent 42% of foreign purchases
• Middle Eastern and North American investors have increased their market share to 28%
• Asian buyers (particularly from China) account for 15%, despite reduced Golden Visa investment
• Domestic Greek buyers have returned strongly to the market, focusing on primary residences and smaller investment properties

Foreign buyers typically target higher-value properties (€350,000+) in prime locations, while domestic buyers dominate the €100,000–€250,000 segment and prioritize proximity to services and transport.

Golden Visa Program Updates for 2025

Greece’s residency-by-investment program has undergone significant changes in 2025, creating a tiered investment structure:

• Prime Zones (Athens center, Thessaloniki center, Mykonos, Santorini): €800,000 minimum
• High-Demand Areas (Athens suburbs, Thessaloniki suburbs, Rhodes, Corfu): €500,000 minimum
• All Other Regions: €250,000 minimum

The program continues to offer 5-year renewable residency permits with a path to citizenship after 7 years. New for 2025:

• Digital application process reducing approval times to 45–60 days
• Additional investment options including funds and commercial property
• Family inclusion extending to dependent parents and children up to 24
• Enhanced due diligence procedures and source-of-funds verification

Despite higher thresholds, Golden Visa applications increased 12% in 2024. The program has contributed over €3.5 billion to the Greek economy since inception, with approximately 9,800 main applicants approved.

Regional Property Price Analysis

Athens Market — Neighborhoods and Price Ranges

Athens remains Greece’s primary property market, with distinct neighborhood dynamics and price points:

Neighborhood	Price Range (€/m²)	YoY Change	Notes
Kolonaki, Lycabettus	€6,500–€9,200	+4.2%	Limited inventory, international buyers
Glyfada, Voula	€4,800–€7,500	+5.7%	Strong rental demand, seaside premium
Kifisia, Psychiko	€4,200–€6,800	+3.8%	Family-oriented, high-end suburbs
Koukaki, Mets	€3,200–€4,800	+6.3%	Tourism-driven, Acropolis proximity
Chalandri, Marousi	€2,800–€4,200	+4.5%	Business districts, strong local demand
Kypseli, Patisia	€1,700–€2,600	+8.2%	Emerging areas, renovation opportunities

New constructions with modern amenities command significant premiums; older properties often require substantial renovation. Short-term rental potential remains a key price driver in central tourist-friendly districts.

Thessaloniki Property Trends

Thessaloniki continues its emergence as an attractive alternative to Athens:

• City center (Aristotelous, Ladadika): €2,200–€3,600/m², +6.8% YoY
• Eastern suburbs (Kalamaria, Pylaia): €1,800–€2,900/m², +5.2% YoY
• Western areas: €1,200–€1,800/m², +7.5% YoY

Thessaloniki offers higher rental yields than Athens (averaging 4.8% vs. 3.5%) and metro construction (completion scheduled for 2026) is expected to boost values along transit corridors.

Island Markets (Cyclades, Ionian, Crete, Rhodes)

Island markets present diverse landscapes with significant variation:

Premium Islands (Mykonos, Santorini)

• Luxury: €8,000–€15,000/m²
• Mid-market: €5,000–€8,000/m²
• Annual appreciation: 3–4%
• Rental yields: 3–5% (high seasonality)

Mid-Range Islands (Paros, Naxos, Rhodes, Corfu)

• Premium locations: €3,500–€6,000/m²
• General market: €2,200–€3,500/m²
• Annual appreciation: 5–7%
• Rental yields: 4–6%

Emerging Island Opportunities

• Smaller Cyclades (Milos, Sifnos): €2,000–€3,200/m², +8–10% YoY
• Eastern Crete: €1,800–€2,800/m², +6–8% YoY
• Ionian secondary islands: €1,600–€2,500/m², +5–7% YoY

Extended tourist seasons (effectively April–October) improve investment cases, though winter accessibility and services remain considerations.

Emerging Hotspots and Value Regions

Savvy investors look beyond established markets to areas offering better value and growth potential:

• Western Greece (Peloponnese, Ionian coast): €1,200–€2,200/m² — drivers: infrastructure, emerging tourism
• Northern Greece (Halkidiki, Kavala, Alexandroupoli): €1,100–€2,400/m² — drivers: cross-border tourism, Balkan investment
• Central Greece (Pelion, Evia): €1,300–€2,500/m² — drivers: accessibility from Athens, authentic experience demand

These areas typically offer 30–50% lower entry prices than established markets, with potential for stronger medium-term appreciation as infrastructure and international awareness improve.

The Buying Process in Greece

Legal Requirements for Foreign Buyers

Purchasing property in Greece as a foreigner is straightforward, with few restrictions for EU citizens and manageable procedures for non-EU buyers:

• EU Citizens: No restrictions; same rights as Greek nationals
• Non-EU Citizens: Can freely purchase with some exceptions in border regions and certain islands where permissions may be required

Essential steps for all foreign buyers:

• Obtain a Greek tax number (AFM)
• Open a Greek bank account
• Appoint a lawyer for due diligence and transaction management
• Verify property’s legal status (ownership, encumbrances, building permits)
• Sign preliminary agreement and pay deposit (typically 10%)
• Complete final contract with notary present
• Register property with land registry and cadastre

The entire process typically takes 30–60 days from offer acceptance to completion, with digital systems increasingly streamlining administrative requirements.

Taxation and Ongoing Costs

Understanding Greece’s property-related taxation is essential for accurate investment assessment:

• Transfer tax: 3.09% of property value (resale)
• VAT: 24% (new builds from commercial developers)
• Notary, legal and registration fees: ~2–3% total
• ENFIA: €2–€13/m² depending on location and value
• Municipal taxes and special duties: nominal annual amounts

Rental income is taxed (progressive 15–45% for long-term; flat 15% for many short-term rentals). Greece’s expanded double taxation treaties (covering 60+ countries) help avoid dual taxation on rental income and capital gains.

Financing Options and Mortgage Availability

The Greek mortgage market has improved in 2025, with more options for both domestic and foreign buyers:

• Greek residents: LTV up to 80%, rates 3.2–4.5%, terms up to 30 years
• Foreign buyers: LTV typically 60–70%, rates 3.8–5.2%, terms up to 25 years
• Some banks offer English-language, Golden Visa–friendly packages

Investment Outlook by Property Type

Residential Property Forecast

• Urban apartments: strong demand in 70–120 m² range; new builds command 25–30% premium; projected appreciation 4–5% annually through 2026
• Suburban houses: growing demand for outdoor space; projected appreciation 3–4% annually
• Luxury segment: limited inventory; projected appreciation 2–3% annually

Holiday Homes and Short-Term Rental Potential

Tourism supports the holiday home market; average occupancy for well-managed properties:

• Athens/Thessaloniki: 70–75% annually
• Premium islands: 85–95% (May–Oct), 20–30% (Nov–Apr)
• Emerging destinations: 65–80% (peak season)

Gross rental yields before expenses: Athens prime 5–7%; island properties 6–9% (seasonal); emerging 7–10%. Regulatory environment for short-term rentals is clearer in 2025, with a 15% flat tax in many cases.

Commercial Property Trends

• Retail: challenging outside prime locations; high-street yields 5–7%
• Office: strong in Athens/Thessaloniki; yields 6–8%
• Hospitality: boutique hotels in demand; yields 7–10%
• Logistics/industrial: emerging with e-commerce growth; yields 8–10%

Expert Forecasts for 2025–2026

• Price growth: national average 4–5% in 2025, moderating to 3–4% in 2026
• Foreign investment: continued interest but more selective on location and quality
• Regional divergence: widening gaps between prime and secondary locations
• Sustainability premium: higher prices for energy-efficient properties
• Digitalization: increased use of proptech for marketing and transactions

Risks: potential interest rate changes, regulatory shifts for short-term rentals, and economic conditions in buyer-source countries.

FAQ

What are the average property prices in Athens for 2025?

Prices range from €1,700–€9,200/m² depending on neighborhood. Premium districts like Kolonaki and Glyfada command €6,500–€9,200/m²; mid-market Chalandri/Marousi €2,800–€4,200/m²; emerging Kypseli €1,700–€2,600/m². Central districts saw 4–6% annual increases; up-and-coming areas 7–9%.

What are the Golden Visa requirements for Greece in 2025?

Minimum real estate investments: €250,000 (other regions), €500,000 (high-demand), €800,000 (prime zones). Program grants 5-year renewable residency with path to citizenship after 7 years. New digital processing averages 45–60 days; applicants must maintain the investment, pass due diligence, and provide health insurance.

Which Greek islands offer the best investment potential in 2025?

Top picks: Paros and Naxos (5–7% annual appreciation), Milos and Sifnos (8–10% growth), eastern Crete (development and infrastructure opportunities). Secondary Ionian islands like Lefkada offer better value than Corfu with similar rental potential.

What taxes apply when buying property in Greece?

Buyers face transfer tax (3.09% resale), VAT (24% for new builds), notary/legal/registration fees (~2–3%), and annual ENFIA (€2–€13/m²). Rental and capital gains taxes apply; double taxation treaties (60+ countries) mitigate dual taxation.