Real estate investment in Greece

Greece does not restrict property deals. Therefore, foreigners can freely buy, lease, and sell residential and commercial real estate.

Statistics confirm the liquidity of investments: residential real estate prices grow by an average of 1,2% every quarter. Seven years ago, an apartment of 100 m² cost an average of €150,000, and today it is sold for €250,000.

€2,600

Average price per 1 m²

€250,000+

Real estate investment for residency

5—11%

Associated costs, of the property value

How the residential property price index is growing in Greece

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Cost of a 3-bedroom apartment in Greece

€2 million

Apartment in a prestigious area of Athens or its suburb

€500,000

Apartment with a sea ​​view, 2 km to the beach

€300,000

Modern apartment on Crete with sea view

Investment real estate in Greece

https://immigrantinvest.com/wp-content/uploads/2023/05/1-2-3.jpg

location iconGreece, Mykonos

€1,400,000+

Hotel on the picturesque island
square icon180 m²
https://immigrantinvest.com/wp-content/uploads/2022/09/96333383.jpg

location iconGreece, Lefkos

€1,850,000+

Boutique hotel with panoramic view on sea on Lefkada island
square icon420 m²
https://wonderful-dogs-8ceb8899a2.media.strapiapp.com/Snimok_ekrana_2024_08_02_v_14_48_58_766d8dc01b.webp

location iconGreece, Corfu

€250,000+

Share in 4-star hotel under management of Wyndham, Corfu
bed icon1
bathroom icon1
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Greece residency or citizenship by real estate investment

Investors can get residence permits by real estate investment if they participate in the state Greece Golden Visa program. The program condition is to buy a property worth at least €250,000, depending on the type and the region.

The residence permit is valid for 5 years. Living in Greece to maintain a residence permit is not necessary. However, the investor can qualify for citizenship after 7 years of permanent living in Greece.

An applicant for Greece citizenship must spend at least 183 days a year in the country for seven years, confirm integration into society, have no criminal records or deportations, and pass language history and culture exams.

Minimum real estate investment in Greece

€250,000+

For real estate under renovation or conversion into residential properties

€800,000+

For new properties in Attica, Thessaloniki, Mykonos, Santorini, and islands with 3,100+ people

€400,000+

For new properties in other regions

For new properties, the area must be at least 120 m².

The investor can become the owner or register real estate to an EU-based company if the investor owns 100% of its shares.

Real estate can be leased for long-term only. For violating the restriction, the residence permit will be cancelled with an administrative fine of €50,000.

Discover real estate market trends in 41 European countries

Practical Guide

Discover real estate market trends in 41 European countries

  • Master the residency process
  • Get expert tips and documents
  • Estimate costs accurately

Taxes and associated costs

Countries to buy a property and get residency or citizenship

We offer proven properties that comply with the conditions of government programs for investors. You can buy real estate and obtain a residence permit or citizenship.

Country
Property investments
Status
Obtaining time
mt-flagmt-flag
Malta12 properties

€300,000+

Permanent residency

6+ months

Show 12 properties

€300,000+Permanent residency6+ months
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gd-flaggd-flag
Grenada21 property

$270,000+

Citizenship

8+ months

Show 21 property

$270,000+Citizenship8+ months
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ae-flagae-flag
UAE114 properties

AED 750,000+

Residence permit

2+ months

Show 114 properties

AED 750,000+Residence permit2+ months
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es-flages-flag
Spain36 properties

€500,000+

Residence permit

5+ months

Show 36 properties

€500,000+Residence permit5+ months
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pt-flagpt-flag
Portugal67 properties

Not limited

Residency after D Visas

6+ months

Show 67 properties

Not limitedResidency after D Visas6+ months
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Show all countries

40+ guides with European countries

Find out how much it costs to buy and rent real estate in each country, what the market dynamics are and what taxes you need to pay when buying and selling.

mt-flagReal estate investment in Malta

Malta restricts the sale of real estate to foreigners: a buyer needs a special permit.

€3,700

Average price per 1 m²

€220,000+

Real estate investment for residency

Learn more
li-flagReal estate investment in Liechtenstein

The sale of real estate to foreigners is restricted in Liechtenstein: to purchase, you need to obtain a residence permit, live in the...

€4,175

Average price per 1 m²

Learn more
ie-flagReal estate investment in Ireland

In Ireland, foreigners can buy, sell and rent out properties without restrictions.

€4,400

Average price per 1 m²

1,7%

Average price growth per quarter

Learn more
fi-flagReal estate investment in Finland

Foreigners can freely buy and sell real estate in Finland. To purchase a land plot with a house, one needs permission from the Ministry...

€5,300

Average price per 1 m²

0,6%

Average price growth per quarter

Learn more
cz-flagReal estate investment in Czechia

In Czechia, foreigners can buy, sell and rent out properties without restrictions.

€4,400

Average price per 1 m²

3%

Average price growth per quarter

Learn more
bg-flagReal estate investment in Bulgaria

Bulgaria prohibits selling land to non-EU citizens. A land plot with a house can be bought for a legal entity if it’s a Bulgarian company.

€1,381

Average price per 1 m²

€300,000

Real estate investment for residency

Learn more
Igor Buglo

Material prepared by Igor Buglo, Head of the Maltese office, MBA

Updated:

Frequently asked questions

  • Can foreigners buy property in Greece?

    Yes. There are no restrictions on the sale, purchase or rent of real estate in Greece for foreigners. Buying property for at least €250,000 is a chance to get a Greece residence permit by real estate investment.

  • Is it worth investing in property in Greece?

    Yes. Greek real estate properties are liquid assets: they grow by an average of 1,2% every quarter.

    The real estate market in Greece has been on a steady recovery since the 2008 crisis. Property prices are still 20—25% lower than before the crisis, but they are growing rapidly. In the third quarter of 2023, they showed an 14,14% increase during the year, according to the Bank of Greece.

    The average price of housing in Greece is €2,600 per 1 m². Investment property in Greece can show an average annual yield of 3,5%.

  • Is real estate cheap in Greece?

    Compared to other Mediterranean or European states, Greece has one of the most affordable real estate prices. For instance, according to Numbeo, the average price for an apartment is €2,600 per 1 m² in Greece, compared with €3,300 per 1 m² in Spain, €4,000 per 1 m² in Italy, and €6,900 per 1 m² in France.

    Purchasing real estate in Greece for €250,000 is enough for participating in the residence permit by investment program. Investors can buy residential or commercial property, and use it to generate profit.

    Immigrant Invest has its own base of legitimate properties that are eligible for the Greece residence permit by real estate investment program.

  • Which is the cheapest Greek island to buy property?

    Corfu and Ionian Islands have real estate properties worth €2,400 per 1 m² on average. The Cyclades, with average prices of €4,000 per 1 m², have one of the most expensive real estate properties in Greece.

  • Where do most expats live in Greece?

    Foreigners investing in Greek real estate choose properties near the sea, such as Crete, the Ionian Islands, or the so-called "Greek Ibiza", Mykonos.

    Investing in local property is a way to join the Greece Golden Visa program. In seven years residents can apply for Greek citizenship.

  • What is the average house price in Greece?

    The average price to buy a house in Greece is €2,600 per 1 m². House prices in Greece are more affordable than prices in Portugal or French property prices.

  • Can I live in Greece if I buy property?

    Yes, Greece offers a residence permit program for non-EU nationals who invest in real estate in the country. This program, commonly known as the "Golden Visa", allows individuals and their families to obtain a residence permit by purchasing property in Greece.

  • Is it easy to buy a property in Greece?

    Buying property in Greece can be relatively straightforward for both EU and non-EU nationals, thanks to a well-established legal framework and a developed real estate market.

    However, the ease of the process may vary depending on several factors, including your familiarity with Greek laws and regulations, your financial situation, and whether you’re purchasing property as a primary residence or for investment purposes.