May 14, 2024
Residency by investment programs

Buying Real Estate in Greece | Get Golden Visa and Greek Citizenship

Real estate investment in Greece comes with many advantages and opportunities. Greece is an attractive destination for investors. Ever wonder why so many investors flock to Greece? In this article, we'll explore some of the best real estate investment opportunities in Greece, talk about the benefits of Greek investments, list the types of real estate investment opportunities, popular locations, and much more. 

Key Takeaways 

  • The main benefits of real estate investment in Greece are an opportunity to apply for the Golden Visa program and after having a residence permit for 7 years, applying for citizenship, affordable prices and high returns, good economic position.
  • There are several types of real estate investment opportunities in Greece such as residential houses and apartments, maisonettes, and villas.
  • The most popular locations for real estate investment in Greece are Athens, Thessaloniki, and Crete.

Greece real estate market

Real estate investment opportunities in Greece make it one of Europe's most attractive investment destinations. The market has experienced consistent growth, supported by government policies. One such initiative is the Greece Golden Visa program, which offers non-EU investors residency in exchange for investing  €250,000 in Greek property, potentially leading to Greek citizenship.


Beyond the Golden Visa program, there are several factors driving real estate investment in Greece. The fight against inflation and rising interest rates has led to a steady increase in real estate prices since 2021, with the per-square-meter cost in the country rising by approximately 8-10% in 2022. Data from Alpha Bank indicates strong growth in housing investments and residential property prices, projecting a flourishing market.


One of the main factors beyond the increase of property investment in Greece is location. At the end of 2023, Athens, the capital city, has seen impressive growth in apartment prices, with a year-on-year increase of 13%. Thessaloniki, Greece's second-largest city, has also experienced substantial growth at 11.1%. These cities offer a diverse range of properties, including commercial spaces, private rental apartments, student housing projects, and luxury villas, making them attractive to investors.

Future Outlook

According to the studies, the Real Estate market in Greece is poised to reach a value of $1.31 trillion by 2024, with Residential Real Estate leading the market at an estimated $1.05 trillion. The sector is expected to grow steadily, with an annual growth rate of 1.86% from 2024 to 2028, reaching a market volume of $1.41 trillion by 2028. The demand for luxury beachfront villas in Greece has surged, particularly among international investors looking for Mediterranean getaways. The rising interest in luxury beachfront villas in Greece is driven by international buyers seeking the Mediterranean lifestyle.

Overall, Greece's investment is known as one of the most profitable ones. Greece's real estate prices are more affordable than in many other European countries. 

Benefits of Real Estate Investment in Greece

In recent years, Greece has been one of the more attractive European countries for investment. The country is known for many advantages related to buying property. Some of the key benefits are:

Golden Visa Program

One of the most effective methods of getting a Greek residence permit is Greece real estate investment which enables one to apply for a Golden Visa. The program allows you and your family to live in Greece without a minimum amount of stay. After 5 years, you can extend the period of stay and after the total 7 years of staying, you can apply for citizenship. There are several types of investment under this category:

Real Estate Investment Options:

  • Minimum €250,000 investment in real estate, except in specific municipalities in Athens, Thessaloniki, Mykonos, and Santorini. This investment can be in one or across multiple properties. (Important: This investment threshold is about to be increased to EUR 400,000 by the Greek Government by Q4-2024)
  • Minimum €500,000 investment in real estate in municipalities in Athens, Thessaloniki, Mykonos, and Santorini, as of July 31st, 2023. This investment needs to be in one single property. (Important: This investment threshold is about to be increased again, now to EUR 800,000, by the Greek Government by Q4-2024)
  • 10 years of a lease agreement, whether signed for hotel accommodations or furnished tourist residences in integrated tourist resorts.

Other Investment Options:

Minimum €400,000 investment in:

  • Greek government bonds,
  • Bonds or shares of real estate investment companies in Greece,
  • Shares and bonds of venture funds and private equity firms headquartered in Greece.

Contact our specialist to learn more about acquiring a Greek residency.

Affordable prices and high returns

Greece's Real estate prices are much more affordable than most other European countries. According to the Bank of Greece, in Q1 2024 the price of sq m of real estate in Athens is €2,073. This factor offers you an incredible opportunity to buy the property and generate a good amount of income by renting it out.

Good Economic position

The good economic position of the country is one of the most important factors that investors consider before taking action. This means that investors pay attention to:

  • Stability of the economic situation to ensure that their investment is secure,
  • Currency strength, which minimizes the risk that your investment can be negatively affected,
  • Regulatory environment, ensuring that government policies are strong enough to protect investors’ rights and fair business practices.

Real estate investment in Greece ensures all of these points. 

Types of Real Estate Investment Opportunities

Real estate investment in Greece has great investment potential. There are lots of different types of real estate to explore. 

Residential houses and apartments

Apartments are a popular option for both residents and investors in Greece, mainly due to their prime locations in city centers or popular tourist areas. These properties come in a variety of sizes and designs. Investing in apartments can offer consistent rental income, particularly in high-tourism areas like Athens, Thessaloniki, and the well-known Greek islands.


Maisonettes are considered luxury real estate in Greece. Many investors and tourists are fond of maisonettes because these ground-floor apartments have their own street-level entrances. Even some of them come with their own gardens.

From an investment perspective, maisonettes in Greece can offer good rental potential, especially in popular tourist destinations. They are also considered a good option for those looking to purchase a holiday home or a permanent residence in Greece.


One of the key options for real estate investment in Greece is villas. You may be a little confused and think that maisonettes and villas are the same. But they are not. A villa is a large, luxurious, standalone house with private grounds, not like a maisonette, which is a multi-level residential unit within a larger building.

The key advantage of investing in Greek villas is that tourists love it! So the investors can have a steady rental income from the tourism sector. Additionally, Greece's ongoing infrastructure improvements and supportive economic policies create a favorable environment for long-term property value appreciation.

Popular Locations for Real Estate Investment

Thinking about real estate investment in Greece is great but do you know which are the most popular locations for that? Locations where you can not only enjoy the Mediterranean paradise but also have a great return.


Athens, the capital of Greece, is one of the top destinations for real estate investment. The city's unique cultural blend of ancient history and modern living creates a rich environment for residents and visitors. Its strategic location and excellent connectivity to other European cities make it a popular tourist destination. The country’s economic growth supports the increase of tourists, most of whom like to see the capital of Greece.

Athens also offers a high-quality lifestyle with an affordable cost of living, supported by an advanced transportation network and modern infrastructure. These factors, combined with high demand for rental properties, make Athens a smart choice for real estate investors seeking both stability and growth.


Thessaloniki is the second largest city in Greece. The city’s real estate industry has developed during the last few years because of factors such as population increase, economic growth, infrastructure development, student demand, and tourism.

Thessaloniki features a variety of housing options, from modern apartments to classic homes, suiting diverse tastes.


Crete's real estate market is on top, thanks to its status as a well-known tourist destination, which drives demand for properties. The island's steady property value appreciation, continuous development, and improved infrastructure make it an attractive investment option with long-term growth prospects. Investors can find opportunities in emerging areas and sectors. Rental property ownership in Crete offers income potential and a Mediterranean lifestyle, but success depends on effective property management and a solid understanding of rental market dynamics.

Frequently Asked Questions

How much are real estate purchase taxes in Greece?

When buying a house in Greece, the purchaser is required to pay a property tax equal to 3.09% of the property's value. If there is a capital gain from selling property in Greece, it is taxed at a rate of 15 percent.

How much does it cost to invest in Greek citizenship?

You can’t receive Greek citizenship directly by investment.  However, if you invest in Greece real estate for at least €250,000, you can apply for a Greece Golden Visa, which after 7 years gives the opportunity to apply for Greek citizenship. 

How long does it take to get citizenship by investment in Greece?

When you invest at least €250,000 in real estate, you can apply for a Greece Golden visa. The card will give you a five-year residence permit in Greece, which can be converted into citizenship after seven years.


Real estate investment in Greece offers a lot of advantages and opportunities, thanks to improving economic conditions. With affordable property prices, high rental returns, and the option to apply for the Golden Visa program, Greece has become a top destination for investors looking for both lifestyle benefits and high returns. The most popular locations are Athens, Thessaloniki, and Crete.

The real estate types vary between residential apartments, maisonettes, or luxurious villas. The country's positive economic situation, combined with supportive government policies, further contributes to a stable investment environment. 

As the real estate market in Greece continues to grow, investors can expect sustained demand, particularly in high-tourism areas and emerging sectors. With a solid strategy and a focus on prime locations, investing in Greek real estate can lead to significant long-term benefits.


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