What are the best places to buy property in Greece?

Greece was soon one of the most sought-after countries in Europe to invest in real estate and there is good reason why!

Its generally perfect Mediterranean climate, breathtaking coastlines, rich history, and EU membership makes Greece not only be lovely, but valuable in the long run inherently. Whatever your needs are, be it a seaside villa, a serene countryside residence, or an apartment in the city, Greece has something for each buyer.

In recent years, Greek real estate has been hot with interest from people all around the world, particularly retirees, remote workers, and speculators.

Many are now considering the best regions in which to buy property in Greece for personal use or rental investment  and all the reasons why! There are special residency schemes for foreigners and relatively low residential property prices here.

At iland, we understand how to navigate the Greek real estate system so you can concentrate on investment decisions, site selection, type of property, legalities, and finance.
Maybe you're seeking the lowest place to buy property in Greece or looking for the best Greek island to buy property on, whatever iLand offers a one-stop solution to ensure your investment is made as seamless, smooth, and secure as possible with a focus on your investment goals!

Why is Greece the best location for investing in real estate?

One of the main reasons Greece remains one of the most attractive real estate destinations for foreign investors is its favorable legal framework, especially the well-known Greek Golden Visa program. Unlike many other countries, Greece offers permanent residency (not temporary) to non-EU nationals who invest in real estate—as long as the investment is maintained and the legal requirements are fulfilled.

The residency is granted for five years at a time and is renewable indefinitely, provided the investor still owns the property and has paid all relevant property taxes. This allows holders to retain permanent residency for life as long as they comply with the rules.

As of 2024, the Greek government has introduced new three-tiered investment thresholds based on location and property type:

• High-Population Areas (e.g., Athens, Thessaloniki, and cities with over 3,100 residents).

• The minimum real estate investment is €800,000.

• The investor must purchase one single residential property of at least 120 square meters.

All Other Regions of Greece:

Outside of high-density urban areas, the minimum investment is €400,000, with no specific size requirement beyond being a residential property.
Commercial-to-Residential Converted Properties (Key Opportunity):

In a unique and attractive option, investors can buy commercial properties that are legally converted into residential use, such as office spaces in Athens or other major cities.
Suppose the property is properly renovated and the usage permit officially changed. In that case, an investment of only €250,000 is enough, even for a small apartment of 30 square meters or more, to qualify for the Golden Visa.

This third category offers a smart opportunity for those looking to invest in central urban areas like Athens at a lower entry price while still securing permanent residency in Greece. Greece has a diverse geography, so there are numerous kinds of investments available, ranging from city of Athens apartments to villas on the islands, to a house in the countryside, to commercial property. For home, holiday lets, or longer-term income-yielding investments, the country has a steady and growing real estate market with more tourist activity and improved infrastructure.

Greek property costs are still less than most Western European destinations, so you pay less and get more square meters per euro, particularly in the newer markets outside of Athens and the tourist islands. It is always simpler to get into the market and gain appreciation when entry levels are lower.
Furthermore, owning property in Greece means living the relaxed Mediterranean lifestyle with wholesome food, rich culture, and sunshine for over 300 days a year, a massive draw for second-home buyers, remote workers, and pensioners.

Best Places to Buy Property in Greece

Greece's urban environment has a wealth of investment opportunities for many large cities that are not just centered around Athens. Athens remains the focus while there is quality investment in other large cities and the best values for investment are in cities that are under the pressure of overcrowding and price increase. Below are the best island in greece to buy property, are distinct from each other, and present in their own ways solid investment potential:

1. Thessaloniki  Culture, Affordability and Potential for Growth
   As the second largest city in Greece, Thessaloniki has all the historic richness to combine urban advantages with a growing economy. The asking prices are lower than Athens, but it has good infrastructure, a good number of fresh college and university students, and the food and arts scene remains booming and vibrant. And real estate is sold and rented and is a great long-term or lifestyle living without the intensity of a big city.

2. Kalamata Coastal Living with Real Value
   The city of Kalamata on the southern Peloponnese is one of Greece’s most underrated secrets. Traditionally known for its olive oil production, clean beaches and surrounding countryside, the city has begun to attract increasing interest from broad-ranging international buyers. For those interested in finding a nice, quiet coastal town, with appreciating value in real estate and low initial price points, Kalamata represents an attractive opportunity.

3. Larissa A Landlocked Buying Opportunity for Intelligent Investors
   Larissa is a regional centre in the central region of Greece that has a solid local economy and relatively untapped local real estate market. It is not a tourist destination and thus can offer affordability and stability - a reasonable choice for domestic rental income or simply year-round living. The city has good road and rail links and has all the amenities of a regional centre including access to universities and hospitals.
   We can help you develop an ideal strategy for Invest in Real Estate in Greece.

Best Greek Islands to Buy Property

Santorini and Mykonos are rightly referred to as the two 'sister' islands of Greece, yet the country has listed over 200 inhabited islands, some of which offer property buyers great value and great lifestyle. From idyllic holidays to rental yield possibilities or a mix of the two, there are some great locations to buy property in Greece, on islands that provide an assortment of styles of property and affordability.

1. Crete Diversity, Size and Investment certainty
   As the best place in Greece to buy property, Crete has everything: sandy beaches, mountains, ancient history, lively towns. Chania and Heraklion are two of Greece's major cities with high rental demand, international airports, and modern facilities. The Crete property market provides lifestyle buyers and investors with a very diverse range of property from low-cost inner area apartments to seafront villas, permanent and year-round tourism and rental demand.

2. Naxos: A gem waiting to be developed
   Though Naxos is usually skipped due to the other Cycladic islands that surround it, it is one of the new islands that are sought after by property buyers who seek the ultimate Greek island. Unlike Santorini and Paros, Naxos is village focused, features extended sandy beaches and low population density, and therefore the buyers can enjoy a quieter vacation. Naxos is still cheaper than most other islands, and it is more genuine and longer term value.

3. Evia (Euboea) Close to Athens, Far from Quarries
   Evia is Greece's second-largest island, linked to the mainland by a bridge. It offers the inconvenience of a ferry ride mixed with nature. It's high-mountain and rainy in the north, coastal-chic and traditional towns in the south. Evia is one of the cheapest regions to buy property in Greece, and this region is very underdeveloped by foreign buyers, so it is a safe investment.

At iLand, we are here to help you choose the right island, based on your rental needs and lifestyle and long-term goals. So whether you are looking for Crete's infrastructure, the classic island charm of Naxos, or Evia's great value, we offer full service coverage from searching and purchasing and will render your dream home finding in Greece stress-free.

Can US citizens buy property in Greece? If you want to know, learn more in the other article.

Cheapest Place to Buy Property in Greece

Greece continues to be one of the cheapest countries in Europe to invest with real estate, especially when taking into account other Mediterranean countries, such as Italy, Spain or France. There are certainly cities like Athens and popular islands, such as Mykonos and Santorini, are much more expensive but if you want there are numerous other regions including smaller cities, less-frequented islands that have some great options and those great prices.

So where are the cheapest places to buy property in Greece? Look to options such as Evia, Larissa, and parts of Northern Greece. You will find great value there and still enjoy the Greek lifestyle without sacrificing too much access, or value.
The approximate average square meter property prices around Greece are seen below:

iland is one of the best property management companies in Greece, where you can buy your dream house and give it to us for management.

Conclusion

Greece truly offers infinite possibilities for real estate investment opportunities from historic towns and culture such as Thessaloniki, and stunning beach towns such as Kalamata, to the affordable island lifestyle found in Evia and Naxos. There is such a variety of investment property  from luxury villas to simple affordable apartments  to meet any lifestyle or financial budget.

At iland we provide the knowledge and expertise, will assist in navigating the property market, with legal and expert advice fulfilling your needs throughout the process. So if you really want to know what's best for you in Greece in terms of property options, we will show you how to make your dreams a reality!