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Property in Greece

Athens, Crete, Halkidiki, Mykonos — EU, Golden Visa €250K/€400K/€800K, Schengen

from €150,000Starting price
4-7% long-termYield

Ownership: FREEHOLD + Golden Visa (3-tier: €250K/€400K/€800K)

Greece — Santorini, Athens, Mykonos

Market

Property market in Greece

Greece is an EU country with a mature Mediterranean property market and one of Europe's best-known Golden Visa programs (Law 5100/2024). A 3-tier structure: €250K (commercial-to-residential conversions, heritage restorations), €400K (most of Greece), €800K (Attica + Athens + the Athens Riviera, Thessaloniki, Mykonos, Santorini, islands with a population over 3,100). Main hubs: Athens (the center + the Athens Riviera + The Ellinikon — the largest regeneration project in Europe), Thessaloniki (the second city), Crete (the largest Greek island), Mykonos/Santorini (premium islands), Halkidiki (a premium peninsula in the north). ROI 4-7% long-term, 8-12% Airbnb. Schengen + EU.

  • Athens (center): €2,250/m²; Athens (south/Riviera): €3,900/m²(Mercury Estate, 2026)
  • Thessaloniki: €2,120/m² average price(Mercury Estate, 2026)
  • Golden Visa 2026: €800K (Attica, Thessaloniki, premium islands), €400K (most of Greece), €250K (heritage)(Law №5100/2024)
  • Transfer tax 3.09% on resale; VAT 24% on new builds (usually included in the price)(AADE Greece)
  • ENFIA (annual tax) €0.001-13/m² + supplementary levy(AADE Greece)
  • Minimum area of a Golden Visa property in the €800K zones is 120 m²(Law №5100/2024)

Prices

Price per m² by city and district — Greece

LocationPrice per m²Comment
Athens (center)€2 250multimillion-resident urban market (Mercury Estate, 2026)
Athens (south/Riviera)€3 900the Athens Riviera + The Ellinikon (Mercury Estate, 2026)
Thessaloniki€2 120the second city (Mercury Estate, 2026)
Crete€1 500–3 000the largest Greek island
Halkidiki€2 000–4 000a premium peninsula of northern Greece
Mykonos€6 000–12 000a premium island
Santorini€5 000–9 000a premium island, caldera views

Ownership

Ownership for foreigners in Greece

Full FREEHOLD for foreigners within Greece with no restrictions by property type (except border zones). Registration through the Hellenic Land Registry. Non-EU foreigners register via an AFM (tax number) and a Greek bank account.

  • Properties in border zones require Ministry of Defense permission (Epirus, Euboea near the border)
  • Golden Visa €800K — minimum 120 m² for a single property
  • Ban on short-term rentals (Airbnb) for Golden Visa properties since 2024
  • KYC through a Greek lawyer; funds through an EU bank

Source: Law №1892/1990 on border zones, Law №5100/2024

Taxes

Taxes on purchase and ownership in Greece

TaxRateWhen paid
Transfer tax (resale)3,09%one-time at the transaction (AADE Greece)
VAT (new build)24%usually included in the developer's price (VAT Code Greece)
ENFIA (annual)0,001-13 €/m²annually based on area + supplementary tax (AADE Greece)
Rental income tax15-45% progressive15% up to €12K, 35% €12-35K, 45% above (Income Tax Code)
Capital gains15%on sale by an individual (AADE)

Residency

Residency through property purchase in Greece

€250,000 / €400,000 / €800,000 (3-tier by region)Minimum investment
2-6 monthsProcessing time

Greek Golden Visa (Law 5100/2024) — three tiers: €800K in Attica, Thessaloniki, on the premium islands; €400K in the rest of Greece; €250K on heritage and commercial-to-residential. A 5-year residence permit that is renewable. Covers a spouse, children under 21, and parents. Schengen and EU. No mandatory residence requirement. Rentals — long-term only (12+ months).

Source: Law №5100/2024

Rental yield

Rental yield by city in Greece

CityTypeGrossNet
Athens (center)Long-term urban4–6%3–4%
Athens (Riviera/Ellinikon)Premium long-term4–6%3–4%
ThessalonikiUrban long-term4–5%3–4%
CreteSeasonal resort6–10%4–7%
MykonosSeasonal premium Airbnb8–12%5–8%
SantoriniSeasonal premium Airbnb8–12%5–8%

FAQ

Frequently asked questions about buying property in Greece

How does the Greek Golden Visa work in 2026?

The Law 5100/2024 program sets three investment tiers by region: €800K — Attica (Athens), Thessaloniki, Mykonos, Santorini, islands with over 3,100 inhabitants. €400K — the rest of Greece (Crete, Halkidiki, Corfu, Rhodes, the Peloponnese). €250K — commercial-to-residential conversions and heritage restoration anywhere. Minimum area of 120 m² for the €800K zones. A 5-year residence permit that is renewable.

Athens or the islands?

Athens is a multimillion-resident urban market with year-round rentals, a 4-6% yield, and the The Ellinikon mega regeneration project driving prices up. The Golden Visa threshold is €800K. The islands (Mykonos, Santorini, Crete) are a premium tourist segment with short-peak Airbnb yields of 8-12%. For a Golden Visa on a minimal budget — Crete/Halkidiki (€400K). For prestige — Mykonos (€800K).

What is The Ellinikon?

The largest regeneration project in Europe, on the site of the former Athens airport (Hellinikon). $9 billion in investment. It includes the Riviera Tower (200m), a park, a marina, residential + commercial districts, and an integrated resort with a casino. Delivery is phased over 2026-2030. Residences within a 1 km radius are the main hot-spot of Athens.

What are the taxes in Greece?

On purchase: transfer tax of 3.09% (resale) or VAT of 24% (new build — but usually included in the price). Registration + lawyer: ~1-2%. On ownership: ENFIA (annual property tax) — 0.1-1.15% of the value. Rental income tax — 15-45% progressive. The net rental yield is 10-20% below the gross due to taxes.

What are the risks in Greece?

The main ones: 1) Bureaucracy — slow processing (3-6 months); 2) ENFIA annual tax; 3) Volatility of the tourist season (island resorts empty out from November to March); 4) Geopolitics — EU sanctions affect Russian buyers (KYC through a Greek lawyer is required). The safeguard is choosing mature projects in Attica or commercial conversions.

How much does a square meter cost in Athens and Thessaloniki?

Athens (center) — €2,250/m² on average. Athens (southern districts, the Riviera) — €3,900/m². Thessaloniki — €2,120/m². Premium islands: Mykonos €6,000-12,000/m², Santorini €5,000-9,000/m². Crete €1,500-3,000/m². Halkidiki €2,000-4,000/m².

Can a Golden Visa apartment be rented out on Airbnb?

No. Since 2024, property bought for the Golden Visa can only be rented out on a long-term lease of 12 months or more. Short-term rentals (Airbnb, Booking) are prohibited under this program. For Airbnb investments, buy without tying the property to a Golden Visa.

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