Real estate in Greece: the cost of renting three-bedroom apartments in 2021

May 28, 2021
Residence permits by investment in Greece: three-bedroom apartments for rent
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Investors buy real estate in Greece in order to get a residence permit. Real estate can be rented out and receive additional income, up to 4% per annum. We tell you how much it costs to rent an apartment with three bedrooms in different regions of Greece.

Real estate in Greece is a liquid asset. Prices to buy and rent Greek real estate have been rising steadily since 2017, according to the Central Bank of Greece. We have already told you about the dynamics of real estate prices over the past 10 years.

In 2020, Greek real estate prices rose more slowly than in 2019. The reason is the crisis amid a coronavirus pandemic. As soon as the Greek economy recovers from the crisis, real estate prices will begin to rise faster.

Rent costs in different regions of Greece

Greece is divided into 14 administrative districts. Popular tourist destinations include the Aegean and Ionian Islands, Athens, Thessaloniki, and Heraklion.

Residence permits in Greece by investment: the territorial division of Greece
The 13 main regions into which Greece is divided

The cost of renting apartments depends on the region of the country. Prices for apartments in tourist regions of the country are higher than in the central mainland. In the table below you can see the prices of apartments in major cities in 13 counties of Greece. In the 14th District, the Autonomous Monastic State of the Holy Mountain, there are no rental offers.

The average cost to rent a three-bedroom apartment in Greece

Region 🌍 City 🏘️ Price 💶
1. South Aegean Islands Mykonos €1735
2. Ionian Islands Corfu €770
3. Crete Heraklion €740
4. Attica Athens €715
5. Central Macedonia Thessaloniki €625
6. Eastern Macedonia and Thrace Komotini €535
7. North Aegean Islands Mytilene €510
8. Epirus Ioannina €475
9. Western Greece Patras €465
10. Peloponnese Tripoli €435
11. Thessaly Larissa €435
12. West Macedonia Kozani €375
13. Central Greece Lamia €360

Data source — Numbeo.com

What an investor will get when buying real estate in Greece

The investor will receive a residence permit in Greece, a country that is part of the European Union. The conditions of the investment program are some of the most attractive in the region. The minimum investment amount is € 250,000, and the period of registration of the residence permit card takes 3 months.

To obtain a residence permit in Greece, an investor buys any property worth €250,000 in the country. It is also possible instead of buying a hotel rental for 5 years or apartments in the tourist complex for 10 years, the purchased land for construction or share in the tourist facility.

Examples of real estate under the residence permit program in Greece

Residence in Greece by investment: buying real estate in Athens

Apartments with one or two bedrooms in the residential complex of Glyfada, the center of the Athenian Riviera. Values range from €265,000. Rental income up to 4% annually.

Residence permit in Greece by investment: the purchase of a real estate in Thessaloniki

Apartments with one and two bedrooms near the sea in a new residential complex in Thessaloniki. The price starts from €158,100. You can buy two apartments in order to meet the investment condition of the residence permit program. Rental income up to 4% annually

Residence permit in Greece by investment: the purchase of the real estate

Apartments on the shores of the Aegean Sea in a small Greek village of Maleme. The cost - from €285, 000. Rental income up to 4% annually

Residence in Greece by investment: buying real estate in Athens
Residence permit in Greece by investment: the purchase of a real estate in Thessaloniki
Residence permit in Greece by investment: the purchase of the real estate

The resumption of tourism will help the country’s economy recover. The demand for hotels and apartments will increase, and with it, rental prices.

Greece has lifted entry restrictions for tourists from many countries, including Russians. Anyone with a certificate of vaccination or a test for coronavirus can visit the country. Certificates are accepted in Russian.

Greece has also become the most popular country for summer holidays in 2021. Most Europeans plan to spend their vacations in Athens, Thessaloniki, Mykonos, and Corfu. 18 Greek islands have already received covid-free status in March 2021. It means that all citizens of the islands have been vaccinated against coronavirus.

Residence Permit in Greece by investment: the island of Antipaxos
Antipaxos is a small, picturesque island in the Ionian Sea. Tourists come to the island to do yachting, diving, or kayaking

A residence permit in Greece allows the investor and his family to live, study and work in the country, as well as travel freely in Schengen countries.

Immigrant Invest is a licensed agent of the residence permit program in Greece by investment. If you want to move to Greece and buy real estate, seek advice from experts in investment programs.

Autor: Мария Колесникова

The information contained in this news release has been prepared for general guidance on the topics discussed, is for information purposes only, and under no circumstances constitutes a public offer as defined by the provisions of Art. 2 of Article 437 of the Civil Code of the Russian Federation. All citations contained in this article are solely for informational purposes to the extent justified for a citation under Article 1274 of the Civil Code of the Russian Federation.

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