Greece
Greek property 2026: steady price growth in Athens, yields of 4–7%
Among the European markets that link property to a residence permit, Greece currently draws the strongest international buyer liquidity. Prices in many areas remain below the 2008 peak, rental yields are reasonable, and the three-tier Golden Visa framework allows several structures — alongside new constraints that need to be understood precisely.
Figures updated 08/2026
Market overview
Price growth has held a steady rhythm. Bank of Greece data shows apartment prices rising 7.8% nationally in 2025, with Athens up 6.2%, and a further gain of roughly 5.7% in the first quarter of 2026; the full-year 2026 forecast sits at 4–7%. Foreign capital into property reached EUR 2.75 billion in 2024, up 28.9%, and has held strong through 2025–2026 on the back of the Golden Visa.
Gross rental yields in Athens average around 5.4%, the highest among the Western and Southern European capitals Vietnamese investors typically weigh. Regenerating central districts such as Kipseli and Patisia exceed 7%; the coastal Athens Riviera, including Glyfada and Vouliagmeni, compresses to around 4% in exchange for capital growth potential. Rents across Attica continue to rise at roughly 4.8% a year on constrained supply.
For buyers pursuing the Golden Visa, the investment threshold is EUR 800,000 in Attica, Thessaloniki, Mykonos, Santorini and islands with more than 3,100 inhabitants; EUR 400,000 elsewhere, with a minimum area of 120 m2; while the change-of-use and heritage restoration route requires only EUR 250,000 with no geographic limit. That is why the converted-apartment segment in central Athens is so active. Property used for a Golden Visa may not be let short term, with fines of up to EUR 50,000; buyers not seeking the visa are not bound by this, though Athens has suspended new Airbnb registrations in several central districts.
Four risk points to weigh: the condition of older buildings, given that most of the apartment stock was built in the 1960s–1980s and needs deep renovation; the annual ENFIA property tax; slow legal procedures; and asking-price premiums applied specifically to Golden Visa buyers on certain projects. An independent valuation together with your own lawyer, never the seller's, is a principle we do not compromise on.
Investment case
Why this market
The highest yields among Southern European capitals
Athens delivers average gross yields of around 5.4%, with regenerating districts above 7% — ahead of Lisbon, Madrid or Rome — while entry prices remain well below many Western European capitals. Long-term rental demand is supported by constrained supply and a wave of young professionals returning to the city.
Three Golden Visa thresholds, several structures
From EUR 250,000 for the change-of-use and heritage route, to EUR 400,000–800,000 by area, you can choose a structure that combines holding the asset with a Schengen residence permit for three generations, without living in Greece.
Room left in the recovery cycle
Prices in many areas remain below the pre-crisis peak of 2008, while the economy has regained an investment-grade credit rating. Record tourism, new infrastructure such as Ellinikon and the extended Athens metro, and inbound FDI are supporting prices over the medium term.
Legal
What foreign buyers need to know
- Property used for a Golden Visa application may not be let short term; a breach can lead to withdrawal of the permit and a fine of EUR 50,000. Long-term letting remains permitted.
- The EUR 400,000 and EUR 800,000 routes require a single property of at least 120 m2. The former rule allowing several smaller units to be combined no longer applies.
- Check the annual ENFIA tax liability and the building's planning status: many properties include unpermitted extensions that must be regularised before transfer.
- Non-EU buyers require a separate permit where the property lies in a border region or on an island designated as sensitive for defence purposes.
- Always use an independent lawyer and your own valuer. Purchase funds must be transferred by bank so as to satisfy the evidential requirements of both the Golden Visa programme and the tax authorities.
Linked residency programme
Greece Golden Visa 2026: €250,000 / €400,000 / €800,000 by area
Answers
Frequently asked questions
How much property in Greece qualifies for a Golden Visa?
It depends on the area and the project type. EUR 800,000 in Athens within the Attica region, Thessaloniki, Mykonos, Santorini and islands with more than 3,100 inhabitants. EUR 400,000 across the rest of Greece, on a single property of at least 120 m2. And only EUR 250,000 for a commercial building converted to residential use, or a heritage building requiring restoration — this route applies anywhere, which is why it is currently the most active segment in central Athens.
What yield does an Athens apartment produce?
Gross yields average around 5.4%. Regenerating central districts such as Kipseli can exceed 7%, while the prime coastal areas sit near 4%. After ENFIA, management fees and tax on rental income — 15% on the first EUR 12,000 for individuals, then progressive — net yields commonly fall to 3.5–5%. Note that property bought under the Golden Visa may not be operated on Airbnb.
Will Greek house prices keep rising, or have they peaked?
Prices have risen continuously since 2018 but remain below the 2008 peak in many areas, while the economy has returned to investment grade and tourism has set records. Bank of Greece data points to growth of roughly 5–6% a year in 2026, slower than in 2022–2023. No one can forecast the next cycle with certainty. Our principle is to select assets with genuine rental cash flow, so that the outcome does not rest entirely on price growth.
What are the risks of buying an older property in Athens?
Most of the Athens apartment stock was built in the 1960s–1980s, so the structure, the electrical and plumbing systems and the renovation cost all need checking — the latter can run to EUR 500–1,000/m2 for a deep refurbishment. Most important is the legal status of unpermitted extensions: these must be regularised before the transfer is notarised. Under some EUR 250,000 structures, renovation costs count towards the total Golden Visa investment; that requires confirmation by a lawyer case by case.
Are foreign nationals restricted from buying property in Greece?
Broadly, no. Vietnamese nationals may buy and hold title as freely as EU citizens, requiring only a Greek AFM tax number and a bank account. The sole exception concerns border regions and certain islands sensitive for defence purposes, where non-EU nationals need a special permit. The whole of the Athens area and the common investment locations fall outside these restrictions.
Market information is provided for reference as at the date shown and does not constitute investment advice. Property values may rise or fall. Contact VNIS Investment for advice matched to your objectives and financial capacity.
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