Apartments in Greece

Yes, foreigners can buy, sell, and rent out residential and commercial real estate in Greece without restrictions. When buying a property for €250,000 or more, foreigners can apply for a Greece residence permit.

For the purchase of an apartment worth €250,000 or more, you can get a Greece residence permit for 5 years. After those 5 years, you can get permanent residence, and in another two years — apply for Greek citizenship. 

Investors who don’t plan to obtain Greek citizenship, don’t have to permanently reside in the country in order to maintain the residence permit status. Investors also have the right to rent out the purchased property.

The capital of Greece has the most expensive real estate. The average real estate prices in the centre of Athens are €200,000 for a one-bedroom apartment, €270,000 for a two-bedroom apartment, and €350,000 for a three-bedroom apartment. In premium‑class residential complexes, apartment prices can each €600 000 — €700 000.

The average prices for sea-view apartments in Greece are €500,000. The most expensive apartments are located on the coast of the Athens Riviera, in the cities of Paleo Faliro, Glyfada, Voula, Vouliagmeni and Varkiza. For example, a modern three-bedroom apartment in Glyfada, 500 m from the sea, can cost €1,700,000.

The yield from renting an apartment in Greece is 2—10%. Apartments in Athens have the highest profitability. In the capital, the average monthly rent is €500 for a one-room apartment and €1,200 for a three-room apartment.