REAL ESTATE – GREECE

Greece – Mediterranean market with consistent value growth

APARTMENTS AND VILLAS in a country that welcomes over 40 million tourists a year, maintains stable price increases and offers full property protection under EU law

Stable growth
confirmed by data

The Greek real estate market is recording consecutive years of stable growth. According to data from the Bank of Greece, prices rose by 8.7% year-on-year in 2024 and this trend continued in 2025. This is one of the more robust growth results among Mediterranean markets.

Tourist
the power of Europe

Greece is among the top European tourist destinations – the country is visited annually by tens of millions of foreign visitors. High and growing tourist traffic generates strong demand for short-term rentals on the islands and in popular coastal destinations.

Full security of transactions within the EU

As a member of the European Union, Greece offers investors a transparent legal framework, notarial registration of transactions and full title protection. EU citizens buy property on the same basis as Greek citizens – without additional permits or restrictions.

AVERAGE INCREASE IN PROPERTY PRICES
PROFITABILITY OF LEASE
IN POPULAR LOCATIONS
FOREIGN TOURISTS
IN GREECE IN 2025
AVERAGE PRICE INCREASE
REAL ESTATE
AVERAGE ANNUAL RATE
RETURN ON RENTAL
FOREIGN TOURISTS
IN GREECE IN 2025
White houses and cliff hotels in Fira – panorama of the capital Santorini overlooking the Aegean Sea, Greece

Greece as an investment – arguments that convince

Stable price growth, developed tourism and transparent EU law – this is what keeps the Greek real estate market gaining importance

If you want to know more about buying property in Greece and other foreign destinations, check out our blog!

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Odeon of Herodes Atticus on the Acropolis in Athens – ancient theater with stone arches and city skyline, Greece

Several years of uninterrupted price increases

The Greek real estate market has been growing consistently since 2018. According to data from the Bank of Greece housing prices have increased in 2024 by an average of over 9% year-on-year, and the following quarters of 2025 confirmed the continuation of this trend at 7–8%. This is one of the more robust growth performance among the Mediterranean markets in the EU.

White bell tower of a Greek church and the Greek flag on Santorini – view of the caldera and the Aegean Sea

Tourism as a motor
rental demand

Greece belongs to the top European tourist destinations. In 2025, the country was visited by almost 38 million foreign visitors – Greece is therefore recording records. High tourist traffic directly drives demand for short-term rentals on the islands and in popular coastal destinations, where rental yields reach 6-8% annually.

Volcanic cliffs of the Santorini caldera with the white Fira buildings on top and ships in the Aegean Sea, Greece

Low transfer tax
when purchasing

Total entry costs in Greece belong to lower in the Mediterranean zone. The transfer of ownership tax is 3.09% of the property value and the total transaction costs usually close in the range of 5-7%. Additionally, until the end of 2026, a 24% VAT suspension on new properties applies – eligible purchases are subject only to a lower transfer tax.

White buildings Chory on the cliff of Folegandros Island with the church of Panagia on top of the hill, Cyclades Greece

A friendly tax policy for investors

Greece has been consistently building its tax environment for years conducive to investment in real estate – from the suspension of VAT on new properties to a low transfer tax. Annual property tax is charged from cadastral value, not market, which in practice means a relatively low current load. It is a market where tax policy supports investors, not discourages them.

Aerial panorama of Athens – Acropolis with the Parthenon in the center of the city and the Saronic Gulf in the background, Greece

  SECURE purchasing process under EU law

The purchase of real estate in Greece follows the regulated procedures: reservation agreement, legal verification of the property, notarial deed and registration of ownership. EU citizens buy without additional permits and the entire process can be carried out remotely, with the help of a representative acting on the basis of notarized power of attorney.

Caryatids of the Erechtheion on the Acropolis in Athens – ancient female statues supporting the roof of the temple, Greece

Market diversity to suit each strategy

 Greece offers investors an exceptionally wide range of opportunities within a single country. Athens generates stable, year-round demand for long-term rental. Islands generate high return from short-term rentals during the summer season. Other locations combine affordability with strong tourism. Each has a different risk and return profile, allowing you to select a property for a specific investment purpose.

Several years of uninterrupted price increases

Odeon of Herodes Atticus on the Acropolis in Athens – ancient theater with stone arches and city skyline, Greece

The Greek real estate market has been growing consistently since 2018. According to data from the Bank of Greece housing prices have increased in 2024 by an average of over 9% year-on-year, and the following quarters of 2025 confirmed the continuation of this trend at 7–8%. This is one of the more robust growth performance among the Mediterranean markets in the EU.

Tourism as a motor
rental demand

White bell tower of a Greek church and the Greek flag on Santorini – view of the caldera and the Aegean Sea

Greece belongs to the top European tourist destinations. In 2025, the country was visited by almost 38 million foreign visitors – Greece is therefore recording records. High tourist traffic directly drives demand for short-term rentals on the islands and in popular coastal destinations, where rental yields reach 6-8% annually.

Low transfer tax
when purchasing

Volcanic cliffs of the Santorini caldera with the white Fira buildings on top and ships in the Aegean Sea, Greece

Total entry costs in Greece belong to lower in the Mediterranean zone. The transfer of ownership tax is 3.09% of the property value and the total transaction costs usually close in the range of 5-7%. Additionally, until the end of 2026, a 24% VAT suspension on new properties applies – eligible purchases are subject only to a lower transfer tax.

A friendly tax policy for investors

White buildings Chory on the cliff of Folegandros Island with the church of Panagia on top of the hill, Cyclades Greece

Greece has been consistently building its tax environment for years conducive to investment in real estate – from the suspension of VAT on new properties to a low transfer tax. Annual property tax is charged from cadastral value, not market, which in practice means a relatively low current load. It is a market where tax policy supports investors, not discourages them.

  SECURE purchasing process under EU law

Aerial panorama of Athens – Acropolis with the Parthenon in the center of the city and the Saronic Gulf in the background, Greece

The purchase of real estate in Greece follows the regulated procedures: reservation agreement, legal verification of the property, notarial deed and registration of ownership. EU citizens buy without additional permits and the entire process can be carried out remotely, with the help of a representative acting on the basis of notarized power of attorney.

Market diversity to suit each strategy

Caryatids of the Erechtheion on the Acropolis in Athens – ancient female statues supporting the roof of the temple, Greece

Greece offers investors an exceptionally wide range of opportunities within a single country. Athens generates stable, year-round demand for long-term rental. Islands generate high return from short-term rentals during the summer season. Other locations combine affordability with strong tourism. Each has a different risk and return profile, allowing you to select a property for a specific investment purpose.

investments – GREECE

Our offers

Our portfolio includes properties tailored to a variety of investment strategies – from apartments in coastal island destinations generating short-term rental income to apartments in cities with strong demand for long-term rentals. Contact us to find out the current offers and choose a property that suits your goals and budget.
Likavittos Hill with the Chapel of St. George at its summit amidst the buildings of Athens – view from the Acropolis, Greece
Contact us, or schedule an online meeting to explore your options and choose the properties that best suit your goals and needs.
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Schedule an online meeting

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Panorama of the white development of Mykonos Town overlooking the port and cruise ships in the Aegean Sea, Cyclades Greece
Athens at sunset – Kallimarmaro Panathenaic Stadium amidst urban development overlooking the Aegean Sea
investments – GREECE

Our offers

Our portfolio includes properties tailored to a variety of investment strategies – from apartments in coastal island destinations generating short-term rental income to apartments in cities with strong demand for long-term rentals. Contact us to find out the current offers and choose a property that suits your goals and budget.
Likavittos Hill with the Chapel of St. George at its summit amidst the buildings of Athens – view from the Acropolis, Greece
Contact us, or schedule an online meeting to explore your options and choose the properties that best suit your goals and needs.
Contact usSchedule an online meeting
Athens at sunset – Kallimarmaro Panathenaic Stadium amidst urban development overlooking the Aegean Sea

Subscribe to our newsletter and receive information about new investment opportunities in foreign markets!

Panorama of the white development of Mykonos Town overlooking the port and cruise ships in the Aegean Sea, Cyclades Greece

basic information about GREECE

I Introduction to the region and basic information

Greece is a market that combines several desirable features at the same time: consistent price increases since 2018, one of the largest tourist bases in Europe, low entry costs compared to other markets in the euro area and transparent EU law. Added to this is the active Golden Visa program, growing infrastructure and growing interest from investors outside Europe, which further fuels demand and the appreciation of property values. This is a market with a clear momentum that has not yet exhausted its growth potential.

Seasonality depends primarily on location. On islands and in seaside resorts the season usually lasts from May to October. During this time, the demand for short-term rentals is very tall, and accommodation rates are significantly higher than in the off-season. Athens and Thessaloniki operate as year-round markets, with even demand for long-term rentals throughout the year. Investors who want revenue stability often choose cities, while those focused on higher seasonal returns head to islands.

EU citizens buy property in Greece on the same basis as Greek citizens, i.e. without additional permits and restrictions. The exceptions are so-called border zones and strategic areas, where purchase by a foreigner may require the consent of the relevant authorities. This applies primarily to areas covered by special administrative status. Velora Estate verifies the legal status of the property each time before proceeding with the transaction.

Greece's Golden Visa scheme allows non-EU citizens to obtain 5-year residence permit in Greece in exchange for an investment in real estate. The investment thresholds vary regionally: €800,000 applies in Attica, Thessaloniki, Mykonos, Santorini and on islands with a population of over 3,100. In the other regions of the country, the threshold is €400,000. The threshold of €250,000 was retained only for projects for the renovation of historic buildings or changes from commercial to residential facilities. The scheme does not require permanent residence in Greece and can be an interesting complement to the strategy for non-EU investors. EU citizens do not need Golden Visa – they buy properties in Greece without any additional permits.

II Logistics and practical aspects of travel

There are direct flights from Warsaw to Athens from various airlines – the flight takes approximately 2 hours 40 minutes. During the summer season, the range of connections expands significantly – charter and scheduled flights also serve Crete, Rhodes, Corfu, Zakynthos and Kos. During the off-season, Athens remains the most widely accessible hub, from where you can quickly fly to the islands by domestic connections or take a ferry.

No, Greece is member of the European Union and the Schengen area. Polish citizens enter only on the basis of a valid of identity card or passport, without any additional formalities. This is an important advantage when organizing inspection visits or meetings with developers; the trip can be planned at any time without unnecessary administrative preparation.

It depends on the location. It works well in Athens and Thessaloniki public transport Athens has an extensive network of metros, trams and buses. When visiting properties outside the city center, in the Peloponnese or on the islands a car is practically essential. EU citizens can rent a car only on the basis of a national driving licence, and an international driving licence is not required. Rental companies operate at all major airports and ferry ports.

Greece has been a member of the eurozone since 2001. All transactions, both daily and related to the purchase of real estate, are implemented in euros.

III Formal aspects of the purchase of real estate

Purchase of real estate in Bulgaria can be carried out remotely by a representative acting on the basis of a notarized power of attorney with an apostille and translation into Bulgarian. Bulgarian banks they grant mortgage loans also to non-residents, particularly EU citizens, although they usually require a higher own contribution and documented income. Mortgage rates are currently among the lowest in the EU, typically around 2.5-4% depending on the client and bank profile. Credit is usually required to obtain local bank account and an identification number for foreigners. In some cases, it is possible to carry out the entire process without personal presence, although some banks may require a one-time identification visit.  

The process consists of several clearly defined stages and usually lasts 2–4 months. After selecting the property, the buyer obtains the AFM and opens a Greek bank account. The lawyer conducts title verification, loads and compliance with building regulations. A preliminary agreement –prometía – is then signed along with an advance payment of usually 10% of the price. Once the transfer tax is settled, the transaction is finalized notarial deed, and ownership registered in the Cadastre.

The first mandatory step is to obtain of the Greek Tax Identification Number AFM. Without it, it is impossible to sign any contract, open a bank account or pay transfer tax. AFM can be obtained by the local tax office or, as is common practice for purchases abroad, by a representative acting under a notarized power of attorney. In parallel, it is recommended to open a Greek bank account through which funds flow for purchases.

The Greek real estate market, especially in tourist destinations, can be heterogeneous in terms of the quality of documentation and the compliance of buildings with permits. A common problem is the so-called unauthorized construction, i.e. extensions or reconstructions carried out without the required permits. Before purchasing the lawyer should absolutely verify whether the actual state of the property corresponds to the construction documentation. This is one of the key elements of due diligence that Velora Estate recommends you conduct on every transaction.

IV Financial aspects of investment

In Greece, rental income is taxed according to a progressive scale: 15% up to €12,000, 25% in the range €12,001-35,000 and 45% above. A flat-rate deduction of 5% of income as living expenses is permitted without the need for documentation. The Polish tax resident is required to demonstrate income from Greek real estate in the Polish tax return. Poland and Greece have a double taxation treaty. Under its provisions, income taxed in Greece is exempt from tax in Poland, but it affects the determination of the rate applicable to other income in Poland. It is worth consulting a tax advisor for a detailed settlement.

In addition to the property price, you should take into account a transfer tax of 3,09% transaction values, notarial fees of around 1-2%, property registration costs of around 0.5% and a lawyer's fee of usually 1-2%. Total transaction costs are usually 6-9% of the property value. When purchasing new buildings, VAT of 24% is suspended until the end of 2026 – eligible transactions are subject only to the lower transfer tax.

The main annual charge is the ENFIA tax charged from the cadastral value of the property, not market. In practice, for a typical investment apartment it ranges from several dozen to several hundred euros per year. Current costs include insurance, utilities and, in the case of a lease, a management company commission typically amounting to 20-25% of short-term lease income. In complexes with common areas, swimming pools and reception they come administrative fees, the height of which is worth verifying before purchasing.

Greece applies capital gains tax when selling real estate, but it is suspended until December 31, 2026 for individuals, provided that the transaction does not bear the characteristics of a business activity. Significantly, this suspension is extended cyclically by Greece – it has been in force continuously since 2013. The proceeds of the sale must be included in the Polish tax return. Double taxation agreement between Poland and Greece regulates the settlement method and protects against double encumbrance.

V Professional support and additional services

The Greek real estate market, particularly in tourist destinations, is characterised by a higher than average risk of documentary non-compliance. A common problem is unauthorized construction, i.e. extensions or reconstructions carried out without the required permits, which formally charge the buyer. Reliable due diligence includes verification of title and encumbrances in the Land Register or Cadastre, checking the compliance of the facts with building permits and analyzing the land development plan. Velora Estate helps you conduct this process as standard for every transaction, in collaboration with local attorneys.

The purchase process itself is the same: notarial deed, registration of ownership, transfer tax. The differences relate to several practical aspects. On some islands close to the border with Turkey they apply restrictions for non-EU buyers requiring additional permits. Some of the islands have specific regulations regarding development and landscape protection. It is also worth remembering that the land registration system on islands can be less complete than on land, making legal verification even more important than in the case of urban properties.

In popular tourist destinations –Crete, Rhodes, Corfu, Zakynthos and Athens – there is a developed market of real estate management companies. They take over full operational support: posting announcements, booking services, contacting guests, cleaning and minor repairs. The cost of such service is usually 20-25% of short-term rental income. Before purchasing, it is worth verifying the availability and conditions of local management companies in the selected location; this is one of the key elements of investment evaluation. Velora Estate helps you choose a management model tailored to a specific property and its location.

Our locations

  • Turkey Izmir atmospheric street overlooking the bay - traditional houses with red roofs and the city skyline on the Aegean Sea, authentic residential area with bougainvillea flowers, properties with character citizenship program
    IZMIR
  • Turkey Alanya view through the castle window - panorama of the city and port through the historic stone window of the fortress, spectacular view of the Mediterranean Sea from the castle mountain, properties overlooking the bay Turkish citizenship program
    ALANYA
  • Turkey Antalya cliffside apartments by the sea - modern apartment buildings on rocks overlooking turquoise waters, luxury cliff-top properties with marina access, Turkish citizenship program Turkish Riviera
    ANTALYA