Property Investment in Greece as a Foreigner

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.