Choosing where to buy in Greece matters as much as what you buy. Athens, Santorini, Mykonos, Thessaloniki and the country’s regional towns each offer a different mix of price, yield, liquidity and lifestyle. Below is a data-driven, practical guide to help investors — especially Greece Golden Visa buyers — decide which zone fits their goals.
Quick headline findings (TL;DR)
- Athens = best balance of liquidity, steady capital growth and resident rental demand. Average prices ~€2,500–€2,600/m² (2025).
- Mykonos & Santorini = ultra-premium, top upside in peak tourism but high entry cost and seasonality (Mykonos ~€7,000/m²+, Santorini mid-to-high five-figures in hotspots). Great for lifestyle and short-term income but regulatory and tax headwinds rising.
- Thessaloniki = cheaper than Athens, improving yields and infrastructure-driven growth; a strong second-city pick.
- Regional towns (Crete, Corfu, Halkidiki, Peloponnese, secondary Cyclades) = value plays — lower prices, slower liquidity, potential upside with infrastructure and tourism spillover.
Overall average gross rental yields across Greece are ~4.6% (2025 Q2) — local hotspots vary widely (4–10% depending on seasonality and property type). Global Property Guide
Table — quick numeric comparison (typical 2025 values & ranges)
| Location | Typical price (€/m²) 2025* | Typical gross yield | Liquidity | Best for |
|---|---|---|---|---|
| Athens (city avg) | €2,400–€2,800. Avg ~€2,580. | 4–6% (long-let) | High | Balanced investors, families, resale |
| Santorini | €4,000–€12,000+ (Oia/Fira premium). Globihome | 6–12% (seasonal, short-let) | Medium (seasonal) | Luxury lifestyle, high short-term income |
| Mykonos | €6,000–€10,000+ (luxury). Investropa | 4–8% (seasonal) | Medium | Ultra-luxury investors, hotels |
| Thessaloniki | ~€2,200/m² (2025 est). Investropa | 4–6% | Medium-High | Students, local rentals, emerging capital growth |
| Regional towns (e.g., Crete, Corfu, Halkidiki) | €1,200–€3,000 | 5–8% (long & tourist mixes) | Low–Medium | Value seekers, long-term plays |
*Ranges compiled from market reports and portals (see sources). Local micro-markets can vary substantially. Immigrant Invest+2Investropa+2
Detailed takeaways by zone
Athens — the safest trade-off
- Why buy: liquidity, steady price growth (Athens prices rose notably in recent years), large resident rental pool (professionals, students, expats). Nearly 40% of some transaction flows involve foreign buyers in 2025, supporting resale demand. Immigrant Invest
- Investment model: long-term rentals and resale. Short-term rentals face new restrictions in central neighborhoods — check local rules. AP News
- Who it suits: investors prioritising resale/liquidity or families wanting EU base.
Santorini & Mykonos — premium, tourist-driven
- Why buy: best potential short-term income and capital appreciation in prime spots; iconic tourism magnet. Santorini and Mykonos command the highest prices in Greece. Investropa+1
- Risks: seasonality, saturation of short-term rentals, heavier taxes/levies and recent government moves to curb overtourism (higher short-term rental taxes, cruise levies, restrictions). Enforcement can affect yields. Reuters+1
- Who it suits: high-net-worth buyers who prioritize lifestyle and can absorb regulatory/tax volatility.
Thessaloniki — rising star second city
- Why buy: lower entry price than Athens, strong local demand (students, businesses), improving infrastructure projects, and above-average price growth in early 2025. Investropa
- Investment model: long-term residential, student rentals, refurbishment plays. Good balance of yield and capital growth.
Regional towns — value and diversification
- Why buy: lower prices, potential for high percentage capital growth as tourism and infrastructure expand. Great for investors who can manage longer timelines. Popular regions include parts of Crete, Corfu, Halkidiki, and select Cyclades. Astons+1
- Risks: lower liquidity, property management challenges, and variable local regulations.
Regulation & market risk — crucial for all buyers
Since 2024 Greece moved to tighten short-term rental rules, increase taxes on holiday lets and impose levies on cruise arrivals — all aimed at controlling overtourism and freeing housing for residents. These policy changes materially affect yield projections for island/short-let strategies. Always verify the current local municipal rules before you buy. Reuters+1
How to choose (practical checklist)
- Goal: residency/lifestyle (islands), liquidity/resale (Athens), cashflow (regional long lets).
- Budget: if <€300k look to regional towns or small Athens units; islands require much higher capital. Immigrant Invest
- Yield vs risk: islands = higher seasonal yields but higher regulatory/tax risk; Athens/Thessaloniki = steadier yields and easier exit. Global Property Guide+1
- Due diligence: title, planning permits, short-let licensing, developer guarantees and escrow for off-plan. Verify Golden Visa eligibility rules if that’s the purpose. Astons+1
- Management: if you cannot manage remotely, use reputable local property management (very important for islands).
Bottom line
- Buy Athens if you want the best blend of liquidity, steady returns and simpler compliance. Immigrant Invest
- Buy Santorini/Mykonos only if you can accept seasonal income, higher taxes/levies and want top-end lifestyle/value. Investropa+1
- Buy Thessaloniki or regional towns for value, improving yields and longer-term appreciation potential. Investropa+1