Invest in Greek real estate and gain residency in 2026

Greece offers a renewable 5-year residence permit to non-EU nationals who purchase qualifying real estate[1]. This permit — commonly known as the Greece Golden Visa — provides residence rights, visa-free Schengen travel, and eligibility for family reunification.

The program follows a tiered investment system based on the property’s location and type.

€800,000 — premium locations

A threshold of €800,000 applies to high-demand areas, including:

• Greater Athens and Piraeus;
• Thessaloniki;
• Mykonos and Santorini;
• all Greek islands with a population over 3,100, such as Crete, Corfu, and Rhodes.

The property may be either residential or commercial, must have a minimum size of 120 m², and the full €800,000 must be invested in a single unit.

€400,000 — standard regions

In all other parts of mainland Greece and smaller islands, the minimum required investment is €400,000. The same rules apply: the property may be either residential or commercial, at least 120 m², and a single asset.

For both thresholds, properties can be acquired on either the primary or secondary market, including new developments, off‑plan purchases, recently completed homes, and units still under construction.

€250,000 — special redevelopment projects

The lowest threshold applies in two specific cases, regardless of location:

1. Purchase of a commercial or industrial building converted into residential use — conversion must be completed before applying.
2. Purchase and full restoration of a listed historical building — restoration must be finished before the first permit renewal, 5 years after approval.

In both cases, the investment must be in one property only. These options are designed to support urban regeneration and heritage conservation.

Property buyers can take advantage of Greece’s Renovate-and-Rent programme[2], a state initiative aimed at expanding affordable rental housing by supporting the renovation of older homes. 

The program covers up to €13,500 in eligible renovation costs per property. The government subsidises 60%, offering a maximum grant of €8,100.

Greece’s Golden Visa goes far beyond a residence permit — it’s a gateway to income, mobility, family access, and full EU rights. Here are five standout advantages that make it one of Europe’s most rewarding investment programs.

1. Investment returns

Buying property in Greece offers more than residency — it’s a genuine investment. Owners can rent out their homes long-term and earn average yields of 4.6%, climbing to 10% in peak seasons and prime areas like Athens, Thessaloniki, Crete, and Rhodes[3].

There’s also strong resale potential. Prices in top locations have been rising by 8.6% annually[4], with Thessaloniki leading the pack, up 12.1% in 2024 and 85% since 2019[5]. Once long-term residence or citizenship is secured, the property can be sold freely without affecting immigration status.

Compared with fund investment, real estate offers a more tangible asset and a clearer sense of control. The funds may suit investors seeking diversification and a lower-management option.

2. Visa-free travel across the Schengen Area

A Greek residence permit allows visa-free travel to all 29 Schengen countries, with stays of up to 90 days in any 180-day period, ideal for both business and leisure.

Travel is fast and flexible by:

• plane: direct routes from Athens and Thessaloniki reach Paris, Rome, Vienna, and more in 2—3 hours;
• ferry: regular sailings to Italy offer scenic alternatives;
• car or train: overland access via Bulgaria and North Macedonia connects to the rest of Europe.

3. No minimum stay requirement

Greece offers rare flexibility: there’s no need to live in the country to keep your residence permit active.

The permit is valid for 5 years and can be renewed indefinitely as long as the property is held. For global investors, that means secure EU access without the pressure to relocate or maintain a physical presence. It’s a residency that moves at your pace.

4. Access to education and healthcare

Golden Visa holders must carry private health insurance, but once enrolled, they also gain access to Greece’s public healthcare system. The country ranks 28th globally for healthcare efficiency, affordability, and accessibility, according to the 2025 CEOWORLD Healthcare Index[6].

Families benefit from free public education at primary and secondary levels. For international curricula, tuition-based schools in Athens and Thessaloniki offer British, American, or IB programmes, with annual fees typically between €6,000 and 20,000.

At the university level, children of Golden Visa holders pay tuition, which averages around €1,500 per year at public universities. English-taught programmes generally cost more.

5. Greek citizenship after 7 years

After 7 years of continuous legal residence, Golden Visa holders may apply for Greek citizenship, provided they meet language proficiency and integration requirements.

Greek citizenship unlocks full EU rights: the ability to live, work, study, and do business anywhere in the EU, alongside visa-free travel to 174 countries[7]. Citizens also gain the right to vote and stand in elections and access EU consular protection.

To qualify for the Greece Golden Visa, both the investor and their accompanying family members must meet certain legal and eligibility criteria.

Investor requirements

To satisfy the criteria for the Greece Golden Visa, investors must:

• be at least 18 years old;
• have no criminal record or ongoing legal proceedings in Greece or their home country;
• provide evidence of the legal source of funds used for the investment.

Family member eligibility

The program allows the main applicant to include:

• spouse or registered partner;
• children under 18;
• dependent children aged 18—21 who are enrolled in full-time education;
• both the investor’s and their spouse’s parents.

If the investor applies with a registered partner, a cohabitation agreement must be signed and officially registered in Greece.

Personal documents required for the main applicant include:

1. Valid passport.
2. Four recent biometric passport photos.
3. Criminal record certificate.
4. Medical certificate.
5. Health insurance policy.
6. Proof of source of funds, such as bank statements or tax returns.

Real estate investment documents are the following:

1. Notarial purchase agreement — final title deed, showing full ownership of the property.
2. Land Registry or Cadastre certificate — proof that ownership is registered in the national land system.
3. Certificate from notary confirming identity of the buyer, method and amount of payment, and whether the property meets Golden Visa requirements.
4. Proof of payment, such as bank remittance slips, transfer receipts, certificates of encumbrances showing the property is free of mortgages, claims, or liens.
5. Building permit — if the property is under construction or newly built.
6. For special €250,000 cases: conversion documents; for commercial to residential, a restoration plan is needed.

Documents for family members, if applicable, include:

1. Passports and passport photos.
2. Birth certificates for children.
3. Marriage certificate or civil partnership document.
4. Custody or guardianship documents, if needed.

All foreign documents must be apostilled or legalised and officially translated into Greek by certified translators, consulates, or the Ministry of Foreign Affairs services.

Foreign buyers in Greece are most active in Athens, Thessaloniki, the top-tier islands — Mykonos, Santorini, and Crete — and lifestyle destinations like the Peloponnese and Rhodes.

The Peloponnese is the most affordable region, with entry prices starting at just €1,000 per m² in Ilia. At the other end, Mykonos remains the priciest, reaching €7,600 per m² in prime seafront locations.

Buyer preferences vary by region — from urban flats and modern coastal apartments to cliffside villas, heritage homes, and olive-grove estates, tailored to lifestyle, investment goals, and residency plans.

Athens and the Athenian Riviera

Athens and the Athenian Riviera remain Greece’s real estate frontrunner, driven by strong demand and limited supply. In Q1 2025, international buyers made up 40% of all transactions[8].

Vacancy sits at just 6%[9], pushing gross yields to 5—6.5% in key districts[10]. Prices range from €2,700[11] per square metre on average to €7,600 in coastal Vouliagmeni[12], while a three-bedroom flat can cost €220,000 in the city centre or €360,000 by the sea.

Thessaloniki

Thessaloniki leads northern Greece’s real estate growth, driven by steady demand from students, digital nomads, and long-term renters. Renovated apartments near the waterfront and university area remain top picks. 

The city offers gross returns of up to 7%[13], with average property prices at €2,600 per m². Its walkable centre[14], expanding services sector, and international airport continue to attract both local and foreign buyers.

Mykonos

Mykonos ranks among Greece’s most exclusive real estate markets, attracting global buyers with its trophy villas and heritage homes. Foreign nationals dominate transactions in luxury segments, accounting for 60—70% of purchases[15].

Prices vary widely — from €2,000 to 4,000 per m² in quieter inland areas to €5,900—8,000 on the waterfront, reaching €11,000 at the top end. Location and view remain the biggest price drivers. Long-term leases in Mykonos pencil out around 3—3.5% gross[16].

Santorini

Santorini is Greece’s second most exclusive market after Mykonos, with buyers zeroing in on cave-house conversions and cliffside villas amid tight supply and peak-season strain on infrastructure. 

Prices are broadly consistent island-wide, running €2,000—4,000 per m² inland and €4,600—5,500 per m² along the coast. Gross rental yields are typically 4—5%[17].

Rhodes

Rhodes attracts a clear mix of buyers: retirees, lifestyle seekers, boutique hoteliers, high-net-worth buyers, and mid-market purchasers.

Prices trace a neat ladder, with inland village homes around Archangelos at €1,700—2,100 per m² and and luxury waterfront villas near marinas reaching €10,000 per m². Long-term yields sit around 5—6.5%[18].

The Peloponnese

The Peloponnese draws lifestyle-focused buyers to traditional stone houses, olive-grove estates, and beachfront homes, with Porto Heli as the luxury flagship. Foreign demand is rising on the back of upgraded roads and improved access via Kalamata.

Regional prices average €1,700 per m², up 9.2% year on year[19]. Across the peninsula, gross rental yields typically run 5—7%, supported by steady second-home and long-stay demand[20].

Crete

Crete tops overseas demand, led by German, Dutch, and French buyers — French purchases jumped 79% year on year in 2024[21]. Long-term yields run 4—5%.

Stock is varied and investable: seafront villas in Elounda, cave houses in Rethymno, and rural plots for bespoke builds. The island’s average asking price is €2,400 per m², while premium villas command €4,200[22].

Greece’s property market in 2025 blends steady capital growth, accessible price points, and robust foreign demand.

Foreign demand

Real estate accounts for 54.2% of all foreign direct investment in Greece, placing the country firmly among Southern Europe’s most attractive property markets[23].

Almost 28,700 residential transfer contracts were recorded in 2024, and foreign investment in real estate hit €2.75 billion[24] — over ten times the level seen a decade ago[25].

Investor interest remains strong, particularly from Israel, Turkey, Bulgaria, the UK, France, and the Netherlands[26]. Within the Golden Visa stream, China, Turkey, Lebanon, and the UK are the top applicant countries[27].

Average property price — €2,600 per m²

In 2025, the average property price in Greece stands at €2,600 per m², but the market offers exceptional variety. 

Buyers can find village homes for under €600 per m², while cliffside villas command prices over €7,000 per m². In practice, this means investors can enter the market from as low as €80,000 or commit upwards of €1.5 million, depending on their goals.

Prices on the rise

Greece’s property market continues its upward climb. In 2025, housing prices rose:

• by 6.8% year-on-year in Q1;
• by 7.3% year-on-year in Q2.

Price growth has been broad-based across the country:

• Athens: 5.9%;
• Thessaloniki: 8.8%;
• other cities: 8.5%.

Rental prices have followed the upward trend:

• in Q1, rents rose 6.7% year-on-year;
• in Q2, asking rents climbed 7.2% year-on-year.

This stable rise reflects sustained demand, especially in urban centres and coastal zones, where tourism and limited housing supply continue to support higher yields.

Greece’s Golden Visa allows property owners to generate income through rentals and sell their property under specific conditions.

Rental rules and taxation

Only long-term rentals are permitted. Under current Golden Visa rules, properties purchased as the basis for the residence permit cannot be used for short-term rentals such as Airbnb. 

The restriction applies to purchases made from September 1st, 2024, onwards. Properties acquired before August, 31st, 2024, are exempt and may still be rented short-term.

Rental income from long-term leases is taxed on a progressive scale[28]:

• up to €12,000 — 15%;
• €12,001—35,000 — 35%;
• over €35,000 — 45%.

Owners who renovate their property for rental purposes may claim a 40% tax credit on eligible renovation costs, spread over 5 years, with a maximum eligible expense of €16,000 and a cap of €3,200 per year. All payments must be made electronically to qualify[29].

Short-term rentals follow different rules. Individuals renting three or more properties are classified as businesses and must charge 13% VAT. All companies and legal entities must charge 13% VAT, regardless of the number of properties.

If the property is held through a company, corporate income tax applies at 22% on net rental income[30].

Selling the investment property

Golden Visa investors may sell their property freely once they’ve either held the residence permit for at least 5 years and obtained EU long-term resident status, or lived in Greece for 7 consecutive years and obtained Greek citizenship.

The buyer of the property cannot inherit the residence permit, even if they are a non-EU national. Each applicant must qualify and apply independently under the Golden Visa program.

Transfer tax. If buying a resale property, investors pay a 3.09% property transfer tax. 

If buying a newly built home from a developer, the standard rate is 24% VAT. However, a temporary VAT suspension allows most new builds to qualify for the reduced 3.09% transfer tax instead. This suspension is currently in effect until the end of 2025.

Other fees. In addition to taxes, buyers pay:

• 1.5% in legal fees;
• 0.5% for cadastral registration;
• 0.3% for the engineer’s inspection and documentation.

Total. All together, transaction costs add up to approximately 5.5% of the purchase price. For example, on a €400,000 property, buyers should expect around €22,000 in additional costs.

Follow the stay requirement. Golden Visa holders are not obliged to live in Greece full-time to retain their residence permit. However, citizenship requires 7 consecutive years of physical residence in the country.

Obtain a long-term residency. This is the first step towards citizenship. After 5 years of continuous legal residence with the Golden Visa, investors must apply for EU long-term resident status, LTR. This step is essential — only LTR holders are eligible to apply for citizenship.

Get naturalised. Once LTR status is granted and the required residence period is fulfilled — 7 years in total, including 2 years after obtaining LTR — investors may apply for Greek citizenship by naturalisation. Applicants must:

• pass exams in Greek language, history and civics;
• take an oath of allegiance;
• confirm they pose no threat to public health or safety;
• show proof of stable income;
• commit not to claim unemployment benefits;
• pay an application fee of €700.

Greece recognises dual nationality, so investors are not required to renounce their original citizenship when naturalising.

1. Minimum investment for residence in Greece: €250,000 for properties to renovate in eligible areas, €400,000 or €800,000 for newly-built and off-plan, depending on location.
2. Housing price growth: 7.3% year-on-year in Q2 2025.
3. Long-term rental yields: 4.6%, reaching 10% in high-demand areas.
4. Popular areas among foreign buyers: Athens, Thessaloniki, Crete, Mykonos, Santorini, Rhodes, Peloponnese.
5. Resale permission: after 5 years, once long-term residence or citizenship is obtained, without affecting status.
6. Permit validity: 5 years, renewable, with no physical stay requirement.
7. Path to citizenship: after 7 years of residence, language and history tests, stable income, and long-term resident status.

1. Source: Official Law 5038/2023: Change of the conditions for granting residence permits for investment purposes
2. Source: Greece’s Renovate-and-Rent programme
3. Source: Global Property Guide — Gross rental yields in Greece
4. Source: Global Property Guide — Greece’s Residential Property Market Analysis 2025
5. Source: Bank of Greece, Indices of residential property prices, Q2 2024
6. Source: CEOWORLD Magazine: Countries With The Best Health Care Systems, 2025
7. Source: Passport Index — Greece
8. Source: Investropa — Athens Price Forecasts
9. Source: Investropa — 10 statistics for the Athens real estate market in 2025
10. Source: Investropa — Rental yields in Athens
11. Source: Indomio — Housing prices in the Athens
12. Source: Indomio — Housing prices in Vouliagmeni
13. Source: Investropa — Rental yields in Athens
14. Source: Indomio — Housing prices in the Thessaloniki
15. Source: Daily Political and Economic Newspaper “Ekatimerini”, August 4th, 2025
16. Source: Indomio — Housing prices and rental yields in Mykonos
17. Source: Indomio — Housing prices and rental yields in Santorini
18. Source: Indomio — Housing prices and rental yields in Rhodes
19. Source: Investropa — Peloponnese price forecasts
20. Source: Indomio — Housing prices in the Peloponnese region
21. Source: ot.gr — Greek Property Purchases Soared in 2024 from EU Nationals
22. Source: Indomio — Housing prices and rental yields in Crete
23. Source: Daily Political and Economic Newspaper “Ekatimerini”, October 8th, 2025
24. Source: ot.gr — Foreign Investors Fuel Real Estate Boom in Greece, Driving Prices Higher
25. Source: Iefiremida Magazine, May 21st, 2025
26. Source: Tovima.com — Real Estate Report: Origin of Foreign Homebuyers in Greece
27. Source: Schengen News, December 4th, 2024
28. Source: Taxes on personal income in Greece
29. Source: TaxLive.gr — Article 31, Law 5073/2023
30. Source: Corporate taxes in Greece