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22.10.2026
Best Islands to Retire in Greece
Based on recent data of ours, almost one in three buyers (30.8%), mainly retirees, from abroad are looking for a property in Greece for a permanent residence.
Market Insights
Property prices in Greece vary considerably depending on location, property type, condition, and proximity to the sea. Rather than a single average, what the market offers is a wide range and understanding where your budget sits within that range is the most practical starting point for any buyer.
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What does the data say about Greek property prices?
According to Elxis market data for the first four months of 2026, the average price per square metre for holiday homes across Greece reached €3,398, representing a 10.8% increase compared to the same period in 2025. The picture differs significantly between new builds and existing homes:
New-build properties averaged €4,245/sqm, with the average off-plan contract value reaching €507,427, a 12% increase year on year.
Existing homes averaged €2,550/sqm, with the average total selling price at €251,667, reflecting a shift toward smaller and more affordable properties rather than a drop in price per sqm.
Average buyer spending has also shifted. In 2025, the average spend per buyer reached €450,000, a 37.3% increase compared to 2024. One in four properties sold that year was priced above €600,000, a share three times higher than in previous years. This reflects growing demand for higher-quality homes in prime locations, not a broad market-wide price increase. According to Bank of Greece data, apartment prices increased by 7.8% on average in 2025. Regional variation was significant: Thessaloniki recorded 8.0% growth in Q4 2025, compared to 5.9% in Athens.
How do prices vary by region?
Crete remains one of the most popular destinations for international buyers. Based on Elxis transaction data, the average home price in Crete reached €456,600 in the first four months of 2026, up 3.3% from €442,000 in the same period in 2025.
Athens and Thessaloniki represent the urban market segment. Thessaloniki offers comparatively lower pricing than Athens while delivering similar urban infrastructure and lifestyle appeal, an increasingly attractive option for buyers who want quality without Athens pricing levels.
The Peloponnese and mainland coastal regions offer more accessible entry points. A budget of around €250,000 can secure an attractive home close to the sea in regions like the Peloponnese, while €600,000 can typically offer a detached villa with sea views, private outdoor areas, and in many cases a swimming pool.
The Ionian Islands, including Corfu, continue to attract strong international interest and sit above the Ionian average in terms of pricing, reflecting the islands' established infrastructure and year-round appeal.
The Cyclades, Santorini, Mykonos, and the wider archipelago remain the most expensive segment of the Greek market, driven by limited land availability, iconic status, and strong international demand.
What are buyers actually buying?
The profile of demand has shifted in meaningful ways. According to Elxis market observations, buyers are showing growing interest in smaller properties, newly built homes of 60-70 sqm with two bedrooms, and even smaller units of 35-45 sqm with one bedroom. These offer an accessible entry point and are well-suited to short-term rental. At the same time, demand for properties exceeding 150 sqm has declined. Size alone is no longer a decisive advantage. Buyers are increasingly evaluating properties on how practical they are to maintain, how often they will realistically be used, and how well they can perform as rental assets.
Newer properties are clearly preferred, those under construction or completed within the last five years. Modern construction standards, better energy performance, lower maintenance requirements, and contemporary design are consistently valued. Swimming pools, terraces, privacy, and easy parking have moved from luxury features to standard expectations among international buyers.
What does your budget realistically get you?
Around €250,000, modern apartments, smaller detached homes, renovated village houses, or new-build properties in regions such as Crete, the Peloponnese, and selected islands. In the most sought-after seafront locations, choices at this level may be more limited.
Around €400,000, detached homes or villas with outdoor living areas, sea or countryside views, private parking, and in some cases a swimming pool. This is the level where rental potential becomes a meaningful factor for many buyers, particularly in destinations like Crete, Lefkada, Messinia, and Parga.
Around €600,000, a stronger segment of the market where quality, location, and comfort align more clearly. Detached villas, larger new-build homes, sea views, private outdoor areas, and swimming pools are all realistic at this level in regions including Crete, Lefkada, Rhodes, and the Peloponnese.
Additional costs to budget for
The purchase price is not the only cost. As a general rule, buyers should budget approximately 10% of the purchase price to cover one-off transaction costs, including transfer tax (3.09%* of the purchase price or taxable value, whichever is higher), notary fees (approximately 2%), land registry fees (approximately 0.5%), and lawyer's fees (1-2% plus VAT).
*Important update: The Greek Prime Minister, Kyriakos Mitsotakis, has announced that the property transfer tax for purchases by non-EU citizens is set to rise to 15%, with the change expected to apply from 1 January 2027. The implementing legislation has not yet been published, so the final scope, including how it may treat plots of land and commercial property, is not yet confirmed.
Disclaimer: This content is for informational purposes only and does not constitute legal or tax advice. For matters specific to your situation, we recommend consulting a lawyer, accountant, or notary as appropriate.
