The Greek housing market offers exceptional diversity for buyers seeking everything from historic village properties to modern luxury villas. Whether you are looking for a vacation home, a permanent residence, or a rental investment, Greece’s unique combination of climate, culture, and value continues to attract international buyers. With a rich history, stunning natural landscapes, and one of Europe’s most appealing Mediterranean lifestyles, purchasing a house in Greece offers both personal enjoyment and long-term financial benefits.
From traditional stone houses tucked away in charming villages to contemporary villas overlooking turquoise waters, there is a wide range of houses for sale in Greece to suit every budget and lifestyle. For many foreign buyers, the country represents an opportunity to own a home in a location where real estate remains relatively affordable compared to other parts of Southern Europe such as Spain, Italy, or Portugal. Additionally, the Greece Golden Visa program makes property investment even more attractive by offering residency benefits to qualifying buyers.
The Benefits of Buying a House in Greece
Owning a house in Greece offers much more than a holiday getaway. It’s an investment in a lifestyle, a stable property market, and the potential for passive income through rentals.
Key advantages include:
- Diverse Property Options:From charming stone-built houses in mountain villages to sleek waterfront villas with private pools.
- Strong Rental Potential:High demand for holiday rentals, especially on popular islands like Santorini, Mykonos, and Crete. Gross rental yields range from 4.6% to 9% depending on location.
- Favorable Climate:Mild winters and hot summers attract visitors year-round, with Greece welcoming over 40 million tourists in 2024 and generating €21.6 billion in tourism revenue.
- Investment Security:A stable and growing property market backed by increased foreign investment and tourism. Property prices grew 6.19% year-on-year in Q1 2025.
- Cultural Heritage:The chance to own a home that reflects Greece’s unique architecture and rich historical legacy.
- Golden Visa Program:The Greek government supports foreign investment through residency-by-investment schemes, making property ownership especially attractive for non-EU buyers seeking access to the Schengen Area.
Regional Market Overview: Where to Find Your Greek Home
Understanding regional differences is essential when deciding where to buy a house in Greece. Each region offers distinct property types, price ranges, and lifestyle benefits. While the islands attract luxury buyers and holiday rental investors, the mainland provides excellent value for those seeking authentic village life or larger plots of land.
| Region | Property Characteristics | Price Range (€/m²) | Ideal For |
|---|---|---|---|
| Cyclades Islands | Whitewashed villas, cliffside houses, iconic architecture | €3,000-€6,750+ (Mykonos premium) | Luxury buyers, high-end holiday rentals (15-25% annual growth) |
| Crete | Traditional stone houses, modern villas, diverse landscapes | €1,500-€2,480 | Year-round living, family-friendly homes, 4.5-7.5% rental yields |
| Peloponnese | Renovation projects, traditional townhouses | €800-€1,500 | Budget-conscious buyers, authenticity seekers |
| Ionian Islands | Venetian-style villas, lush green surroundings | €1,800-€3,500 | Established luxury markets, second homes |
| Athens & Major Cities | Modern apartments, renovated neoclassical buildings | €1,485-€4,000 | Urban investors, 5-9% rental yields, strong capital appreciation |
| Mainland Countryside | Village houses, farmhouses, larger plots |
€650-€1,500 |
Rural living, retirement properties, best value |
Source: Bank of Greece, Spitogatos Price Index, Global Property Guide (2025)
Types of Houses Available
Foreign buyers can choose from a variety of property styles, each with its own appeal and investment potential:
- Traditional Village Houses:Usually made of stone, often in need of renovation. These are perfect for buyers seeking authentic charm and lower entry prices (from €50,000).
- Modern Villas:Turnkey homes with contemporary design, swimming pools, and sea views, ideal for personal use and high-end holiday rentals. Prices range from €300,000 to €3M+.
- Renovation Projects:Older properties requiring refurbishment. They offer significant value and customization opportunities, especially in rural areas. May qualify for €250,000 Golden Visa if converting commercial to residential.
- Historic Properties:Mansions and neoclassical houses in urban centers or near tourist hotspots, appealing to heritage enthusiasts and boutique rental investors.
Greece Golden Visa Program (Updated 2025)
The Greek Golden Visa program offers residency permits to non-EU buyers who invest in real estate.IMPORTANT: The requirements were significantly increased in September 2024.
Investment Thresholds by Zone
- Zone A – €800,000 minimum:Athens (entire Attica region), Thessaloniki, Mykonos, Santorini, and all islands with population over 3,100 inhabitants. Property must be minimum 120 m² in a single unit.
- Zone B – €400,000 minimum:All other regions of Greece outside Zone A. Property must be minimum 120 m² in a single unit.
- Zone C – €250,000 minimum (special cases only):Conversion of commercial properties to residential use OR restoration of listed buildings with historical/cultural significance. No size restrictions. Available anywhere in Greece.
Key Requirements and Restrictions
- Minimum 120 m² for single property purchases in Zones A and B
- Cannot combine multiple smaller properties to reach threshold
- Short-term rentals (Airbnb) prohibitedfor Golden Visa properties from 2024 onwards
- Long-term rentals (12+ months) are permitted
- 5-year renewable residence permit
- No residency requirement to maintain permit
- Family inclusion: spouse, children under 21 (under 24 if full-time students), and parents of both spouses
- Visa-free travel throughout Schengen Area (26 countries)
Note:In 2024, Greece received a record 9,407 Golden Visa applications (+11% from 2023). An additional 3,506 applications were submitted between January-April 2025, indicating continued strong demand despite higher thresholds.
Step-by-Step Guide to Buying a House in Greece
The process of buying a house in Greece is straightforward when approached carefully and with professional assistance. Non-EU buyers, in particular, must pay attention to legal requirements and residency rules.
Follow these steps to ensure a smooth purchase:
- Research and Property Search:Identify preferred regions and property types using real estate websites and local agents. Consider visiting Greece to view properties in person.
- Obtain a Greek Tax Number (AFM):Required for all property transactions in Greece. Apply at the local tax office (DOY) with your passport and completed application form. Usually issued same day.
- Open a Greek Bank Account:Essential for managing payments related to the property purchase, including deposit, final payment, taxes, and ongoing utility payments.
- Engage an Independent Lawyer:Hire an independent Greek lawyer specializing in real estate to conduct title checks, verify ownership, and confirm there are no legal issues, liens, or outstanding debts on the property.
- Preliminary Contract and Deposit:Sign a preliminary sales agreement and pay a deposit (typically 10% of the purchase price). This contract is binding for both parties.
- Due Diligence and Legal Checks:Your lawyer ensures there are no encumbrances, unpaid taxes, building permit issues, or outstanding debts linked to the property. This is a critical step.
- Final Contract Signing:Takes place at a notary office, where both parties sign the final deed. The remaining balance is paid (typically via bank transfer), and ownership is officially transferred.
- Registration:The property is registered in your name at the local land registry (Ktimatologio). Your lawyer typically handles this process.
Timeline:This process usually takes 2 to 3 months, depending on the complexity of the transaction and the speed of administrative procedures.
Key Costs and Taxes (Updated 2025)
Before purchasing, buyers should budget for additional costs beyond the property price. These typically range from10% to 15%of the purchase price and include:
One-Time Purchase Costs
- Property Transfer Tax:3.09% (3% transfer tax + 0.09% municipal surtax) on the higher of purchase price or cadastral value. Applies to resale properties.
- VAT for New Properties:24% VAT normally applies to properties with building permits after January 1, 2006.IMPORTANT: VAT is suspended until December 31, 2025– only the 3.09% transfer tax applies during this period.
- Notary Fees:0.8% to 1.5% of property value (higher for lower-value properties, lower for higher-value properties)+ 24% VATon the notary services.
- Legal Fees:1% to 2% of property value+ 24% VATon legal services. Essential for due diligence and contract review.
- Real Estate Agent Fees:2% to 3% of property value. Typically paid by the buyer in Greece, though this should be clarified in advance.
- Land Registry Fees:0.5% to 0.7% of property value for registration at the Ktimatologio (land registry).
Ongoing Annual Costs
- ENFIA (Unified Property Tax):€2 to €16.20 per m² annually for buildings, €0.0037 to €9.25 per m² for land. Based on property location, size, age, and value.20% reduction availableif property is insured against natural disasters (fire, earthquake, flood).
- Municipal Tax:0.025% to 0.035% of property value annually, used for local services.
- Utility Bills:Electricity and water typically €100-€250 per month depending on property size and usage.
Example Calculation for €300,000 Property:
| Cost Item | Amount (€) |
|---|---|
| Property Transfer Tax (3.09%) | €9,270 |
| Notary Fees (1.2% + VAT) | €4,464 |
| Legal Fees (1.5% + VAT) | €5,580 |
| Land Registry Fees (0.6%) | €1,800 |
| Real Estate Agent (2.5%) | €7,500 |
| TOTAL ADDITIONAL COSTS | €28,614 (9.5%) |
| TOTAL INVESTMENT REQUIRED | €328,614 |
Market Trends and Investment Potential (2025)
The Greek housing market has shown steady growth over the past five years, supported by record tourism numbers and an expanding economy. Property prices increased 6.19% year-on-year in Q1 2025 (3.53% after inflation adjustment). Modern villas with sea views and properties in tourist hotspots continue to command premium prices, while traditional stone houses in rural areas remain affordable and appealing to buyers looking for value and restoration projects.
Current Market Highlights (2025)
- Record Tourism:Greece welcomed 40.7 million tourists in 2024 (12.8% increase) generating €21.6 billion in revenue. 2025 continues this trend with €16.7 billion earned in the first 8 months (+12% year-on-year).
- Strong Rental Market:Short-term rental listings reached a record 247,000 in August 2025 (+14,000 from 2024). Gross rental yields: Athens 5-9%, tourist islands 4.5-7.5%, average nationwide 4.6%.
- Regional Growth:Thessaloniki recorded strongest Q1 2025 growth (+10% year-on-year). Athens prices rose 7.7% annually. Premium islands like Paros saw 108% increase since 2018.
- Golden Visa Demand:Despite higher thresholds, 9,407 applications in 2024 (+11% from 2023). First 4 months of 2025 saw 3,506 applications, suggesting continued strong interest.
- New Regulations:Athens imposed 1-year ban on new short-term rental registrations (January 2025). Cruise passenger fees increased on popular islands (up to €20). Focus on sustainable tourism and protecting local housing.
- Infrastructure Investment:Major projects like the Hellinikon development (former Athens airport) are boosting surrounding property values. Improved transportation networks making more regions accessible.
Investment Outlook
For investors, the combination of short-term and long-term rental income, along with property appreciation (averaging 3-7% annually through 2030), makes Greek real estate a compelling opportunity. The National Bank of Greece forecasts continued steady growth, with premium islands expected to outperform the baseline significantly.
Best Investment Strategies:
- Long-term rentals in Athens/Crete:Stable 5-9% yields, avoiding short-term rental restrictions, strong year-round demand from professionals and students.
- Zone B Golden Visa properties:€400,000 entry point in emerging regions with strong appreciation potential and lower competition than Athens/islands.
- Renovation/conversion projects:€250,000 Golden Visa opportunity in prime locations through commercial-to-residential conversion or heritage restoration.
- Urban regeneration areas:Properties near major infrastructure projects (e.g., Hellinikon, Athens metro extensions) benefit from significant capital appreciation.
Finding Your Perfect Greek Home
Buying a house in Greece is both an exciting and rewarding journey. By understanding regional differences, legal requirements (especially the updated Golden Visa thresholds), and market dynamics, international buyers can make informed decisions that match their lifestyle goals and investment strategies.
Whether you are searching for a traditional village retreat, a luxury villa with rental potential, or a long-term family home, Greece offers a wealth of opportunities. The country’s combination of affordable property prices (compared to Western Europe), strong rental yields, consistent tourism growth, and access to EU residency makes it one of Europe’s most attractive property markets in 2025.
With proper planning, professional guidance (particularly an experienced Greek lawyer), and a clear vision, you can successfully navigate the process and enjoy all the benefits of owning a home in this beautiful Mediterranean country. The Greek real estate market remains stable and promising, offering both lifestyle enhancement and solid investment returns for those who approach it strategically.
