It’s no secret that Greece is more affordable than other European countries. With its ideal climate, delicious local food, and laid-back lifestyle, buyers from the UK are especially drawn to Greece. How does Greece measure up compared to other places you could buy real estate?
How Does Buying a Home in Greece Compare to Other Countries?
According to Proven Partners, who are leaders in luxury real estate internationally, Greece is one of the best destinations for buyers seeking a second home. They included factors like property prices, taxes, fine-dining prices, premium car hire prices, flight costs (the data assumes that you are flying from the UK, and the cost can be lower in other areas of Europe), and potential Airbnb revenue.
While other Mediterranean destinations like Spain, Portugal, and Italy remain popular, Greece consistently delivers better value, higher potential returns, and lower entry costs for second-home buyers.
Start with pricing. In Athens, according to data from NTL Trust in 2025, the average cost of residential property is just €1,485 per square meter, and in regional hotspots like Thessaloniki and parts of Crete, prices can drop to around €1,300. By contrast, prices in Portugal’s major cities are far higher — €3,987 per square meter in Lisbon and €4,055 in Porto (The Luxury Playbook, 2025). Spain offers even less affordability in key areas, with Madrid and Barcelona reaching nearly €4,000 per square meter. Even Italy’s average property cost sits at around €2,099, considerably more than in Greece’s most desirable regions.
Many High-Worth Investors in Greece
According to a March 2025 report by Elite Property News, Greece’s luxury real estate market is attracting high-net-worth investors due to competitive pricing, favorable investment policies, and exceptional rental returns. The report highlights that residential property values in Greece are expected to reach $1.34 trillion by 2025, growing faster than traditional high-end real estate destinations like the French and Italian Rivieras.
The country’s booming tourism industry is one key factor fueling real estate investment. Projections from Sharp Investment Properties show that Greece expects to welcome approximately 35.2 million international visitors in 2025—an 18% increase over 2024’s figures.
These tourism numbers are fueling high occupancy rates for rental properties and driving consistent short-term income for owners — a trend that doesn’t happen as much in countries facing saturation in urban rental markets, like Spain and Portugal.
Greece Offers Top Return on Investment
The Luxury Playbook notes that cities like Chania and Heraklion are seeing average property prices between €1,500 and €2,500 per square meter, depending on location and views, making them some of the best-value markets in the Mediterranean. Rental returns in Crete are equally strong, especially in popular coastal villages where demand from both seasonal tourists and digital nomads is rising.
According to EstateAgencyNow.com, well-positioned short-term rentals in Crete can offer yields upwards of 5.5%, especially in properties with sea views and modern amenities. Get a better idea of investment returns in our full breakdown here.
In the Ionian and Cretan regions, owners are increasingly able to achieve seasonal occupancy rates of over 80% during the summer months, according to Benoit Properties International.
Other Benefits of Buying a Home in Greece
Greek Hospitality
Greeks are welcoming by nature, and it is easy to make friends when you are in Greece. The locals are outgoing and it is common for Greeks to give greetings or even small gifts to foreigners when passing by. Especially in the smaller islands and in Greece’s villages, you will feel like a part of the community.
Low Cost of Living
The cost of living is fairly low in Greece compared to the rest of Europe. Even major cities are affordable, like Athens and Thessaloniki, compared to Paris, Rome, or Amsterdam. This is especially true for rent. Combined with rising real estate prices in Greece, real estate purchases can make you a big profit if you choose to rent out your property. Especially in Athens and the Greek islands, it is possible to get a steady income.
Greek Lifestyle
The Greek weather and lifestyle are ideal, especially when compared to climates in Holland, Germany, and Belgium. The days are long and the evenings are warm. The climate is attractive to tourists and to expats in general. The weather in different areas of Greece can vary, with Athens having temperatures which can peak at 30 degrees in the summer.
Greece is a good opportunity for retirees because of the laid-back lifestyle. Because Greece is affordable, it is affordable if you have a fixed income. The healthcare and social services give a safety net.
Golden Visa Greece
The Greek Golden Visa applies to all buyers from outside of the EU. By purchasing real estate above a certain price in Greece, you are eligible to apply for the Golden Visa, which grants residency, visa-free travel in the Schengen Zone (for 90 days every 6 months), and family inclusion.
The minimum investment required for a Golden Visa in most areas of Greece is 400,000 Euros. By completing the Golden Visa Process, you get access to the above benefits. For more information on how to apply for a Golden Visa, contact our team here.
Ultimately, Greece stands out as one of the most affordable destinations in Europe for purchasing a luxury second home.
