Investment Attractiveness of Athens

Greece regularly features in lists of the best destinations for expats in 2025, attracting visitors with its warm climate, affordable prices, and high standard of living. Foreigners view Greece as a promising investment destination due to its stable economy and active growth of urban infrastructure.

Athens is one of the main cities for real estate investment, not only in Greece, but also in Europe. Unlike other European capitals, the entry threshold remains affordable and the market continues to grow.

We tell you why Athens is popular with investors, which areas of the city are the most desirable, and how much it costs to buy real estate in Greece’s capital.

Why Invest in Athens Real Estate?

Athens is a modern, dynamic metropolis on the Mediterranean coast, and property here is in demand by a wide range of people: tourists, businessmen, local residents. This is one of the few European capitals where you can buy real estate at a relatively low cost, and at the same time get an asset that will steadily grow in price.

In 2024, housing prices in the Greek capital rose by 9.1%, and in coastal Piraeus by 28.9%. Unlike resort areas and islands, Athens does not have seasonal rental declines and demand remains high all year round. Investments in real estate under construction are considered particularly profitable, as the value of the property can increase by 10-25% even before construction is completed.

Significant increase in housing prices in Athens has also affected the rental segment. Over the past few years, the average price of apartments in the capital and its suburbs has increased by 1.5-2 times. The expansion of short-term rentals through services like Airbnb has reduced the supply of long-term housing, which further increases prices.

Demand for apartments in prestigious areas with universities, international companies and developed infrastructure exceeds supply many times over. This deficit makes life difficult for tenants, but plays into the hands of investors: it increases the return on investment and reduces the payback period. In addition, they can take advantage of tax incentives from the state and receive a 3-year income tax exemption for properties leased out on a long-term basis – subject to certain conditions.

The Greek authorities are actively investing in the improvement and development of the urban environment. One of the key projects is the large-scale reconstruction of the Athenian Riviera, for which more than €10B has been allocated: these funds will be used to build modern marinas, park areas and new hotels. The construction of a Metropolitan Conference Center in Athens is planned, and 10km from the center of Athens, on the site of the former airport, the grandiose construction of The Ellinikon Park is underway. It will become the largest coastal smart city in Europe, uniting residential areas, business offices, cultural facilities, educational centers, the tallest skyscraper in the country and the largest park in Southern Europe.

These projects are expected to attract at least 1M new tourists annually, which will create additional demand in the rental market. Infrastructure development will create conditions for sustainable growth in real estate prices.

Athens will be particularly popular with luxury property buyers, attracting major investors under Greece’s Golden Visa programme. From August 2024, new rules require a minimum investment of €800,000 for properties located in key regions, including Athens. 

At the same time, the capital has many old commercial buildings that developers are buying up and converting into modern residential complexes – projects that meet the updated Golden Visa requirements with a minimum investment threshold of €250,000, allowing investors to implement more cost-effective solutions.

Greece’s Golden Visa remains one of the most attractive residence by investment schemes in Europe, offering access to the Schengen area and a potential route to EU citizenship.

The Astons portfolio includes many properties that meet all the necessary requirements and will allow the investor to participate in the programme on the most favourable terms.

Property Prices in Athens

The average cost of housing in Athens is €2,000–€4,500 per 1 m², which is significantly lower than in other European capitals. For comparison, in Paris, 1 m² will cost €14,900, in Amsterdam – €8,385, and in Lisbon – €5,000. The difference in prices for luxury real estate is also significant. In Athens and its suburbs, you can find new properties priced from €4,000–7,000 per 1 m², while in Paris the price in the same segment can reach €60,000 per 1 m².

According to the Spitogatos Property Index, in Q1 2025, rental rate increases were recorded in almost all regions of Greece, and Athens is traditionally among the top 3 locations with the highest growth. The cost of 1 m², depending on the area, ranges from €10-12 to €20-22.

At the same time, Athens is one of the most profitable capitals in Europe for renters: you can lease a 1-bedroom furnished, renovated apartment in a prestigious area for €1,000 per month. Similar prices can only be found in Budapest and Turin. For comparison, in Amsterdam, the most expensive European capital in terms of rent, the average cost of similar housing is €2,400 per month, in London – €2,200, in Paris -€1,450, and in Madrid – €1325.

Best Areas to Buy Property in Athens

Athens is a city with a rich history and vibrant modern life. To make the right choice and buy real estate in the best area of ​​the city, it is important to understand its geography and features.

Greater Athens is not only the historical center, but also a vast area that includes suburbs, coastal areas and more remote areas. Each of them has its own atmosphere, infrastructure and, of course, different real estate prices.

Central Areas

The central areas of Athens are not only of cultural and historical heritage, but also an opportunity for profitable investments. Developed tourist infrastructure, a constant flow of guests, and a dynamically growing rental market, make the city attractive to property owners. Regardless of the strategy – buying for resale, renting out or for personal use – in Athens, you can find a variety of options with high profitability potential.

Central districts of Athens remain some of the most popular among investors, despite the fact that the average price per sq. m reaches €2,500 – +5.21% year-on-year. At the same time, rent in some locations in the region has risen by 100% over the same period.

Plaka. The most touristic area, the “district of the gods”, is located at the foot of the Acropolis. It charms with narrow streets, traditional tavernas, souvenir shops and beautiful, neoclassical mansions. The consistent flow of tourists guarantees high profitability from short-term rentals and stable demand for real estate.

Average housing price: €5,550 per 1 m².

Average rental price: €17.75 per month per 1 m².

Monastiraki. The area is known for its colourful flea market and eclectic architecture, combining Ottoman, neoclassical and modern elements. Its proximity to major attractions makes it attractive to investors.

Average housing price: €4,197 per 1 m².

Average rental price: €19.02 per month per 1 m².

Psiri. A bohemian quarter experiencing a period of active development, with many bars, cafes and art galleries. It is considered one of the most promising areas for real estate investment.

Average housing price: €3,786 per 1 m².

Average rental price: €18.76 per month per 1 m².

Kolonaki. A prestigious area known for its boutiques, upscale restaurants and luxury residential complexes. Consistently high housing prices make it an attractive long-term investment.

Average housing price: €5,723 per 1 m².

Average rental price: €19.25 per month per 1 m².

Tisio. A quiet area bordering the Acropolis, with many pedestrian streets with cozy cafes and art galleries. Suitable for long-term rentals.

Average housing price: €4,360 per 1 m².

Average rental price: €13.68 per month per 1 m².

Gazi. A center of nightlife and art spaces, with the Technopolis cultural center on the site of a former gas plant. High rental demand makes it a promising area for investment.

Average housing price: €2,234 per 1 m².

Average rental price: €10.36 per month per 1 m².

Coastal Areas

The southern coast of Attica is a combination of luxury, comfort and developed infrastructure in close proximity to the center of Athens. In the best areas of the Athenian Riviera, there are exclusive residential complexes with premium conditions for living and investment. Due to the stable demand for luxury housing, private real estate in Alimos, Glyfada, Voula and other areas of the Athenian Riviera is becoming a reliable asset that is rapidly growing in price: from 2019 to 2024, real estate in Alimos increased in price by 66%, in Glyfada by 69.2%, and in Voula, Vari and Vouliagmeni by 80.4%.

Piraeus. A key transport hub of the Mediterranean and the largest port in Greece, it is the heart of the Athenian Riviera. This area is a sought-after location for both living and investment. Piraeus is home to a large number of offices of international shipping and logistics companies, as well as the University of Piraeus, one of the most popular Greek universities: all this guarantees high demand for rental apartments throughout the year. The area is undergoing active modernization and transformation, while maintaining its original maritime atmosphere.

Average housing price: €4,500 per 1 m².

Average rental price: €12 per month per 1 m².

Glyphada. A prestigious coastal area with modern residential complexes, wide avenues, fashionable boutiques and restaurants. Glyfada is often called the Pearl of the Athenian Riviera; it attracts people with its well-maintained beaches, golf club, luxury restaurants and excellent infrastructure.

Average housing price: €7,000 per 1 m².

Average rental price: €16 per month per 1 m².

Vari, Voula, Vouliagmeni. The most prestigious and expensive coastal areas, located south of Athens. They are known for their luxurious villas, elite hotels, picturesque bays and crystal clear sea. People come here for a calm, relaxed atmosphere and a high standard of living.

Average housing cost: €5,800-7,000 per 1 m².

Average rental price: €17-20 per month per 1 m².

Paleo Faliro. A comfortable and sought-after area of ​​the Greek capital, conveniently located 10 minutes from the centre of Athens and the port of Piraeus. Paleo Faliro is an area of authentic Greek architecture with narrow streets, proximity to the city and the beach, a long embankment, Flisvos Park and a modern yacht marina. A developed transport network, numerous shops, prestigious educational institutions and developed tourist infrastructure make the area attractive for living. In addition, Paleo Faliro is a promising direction for investment and for those who value authenticity, quality of life and stable income.

Average housing price: €4,000 per 1 m².

Average rental price: €10-12 per month per 1 m².

Alimos.A coastal area 9 km from the centre of the capital, with developed infrastructure. Alimos has yacht marinas, including Marina Alimos, one of the largest in Greece. There is a long coastline with clean beaches, several prestigious international schools, and medical centres.

Average housing price: €3,000 per 1 m².

Average rental price: €9 per month per 1 m².

Elliniko. The area is undergoing a major transformation thanks to the Ellinikon project. In the future, it will become one of the most promising areas of Athens – a modern city with residential complexes, business centres, parks and cultural facilities.

Average cost of housing: €4,500-8,000 per 1 m².

Average rental price: €10 per month per 1 m².

Varkiza and Sounio.These areas, further from the centre of Athens, have a quieter, more secluded atmosphere. Varkiza is known for its beaches and restaurants, while Sounio is famous for the historic Temple of Poseidon on Cape Sounion, which offers stunning views of the Aegean Sea.

Average cost of housing: €5,000-6,000 per 1 m².

Average rental price: €11 per month per 1 m².

Areas with Potential Growth 

When choosing real estate in Athens, many investors focus on already known and popular areas. However, it is worth remembering that the Athenian real estate market is dynamic and constantly changing. In addition to traditionally popular locations, there are areas that are experiencing a new round of development or have hidden potential, offering investors good opportunities for capital growth.

Kifissia. One of the most prestigious and sought-after areas of Athens, 13 km from the centre. It is traditionally chosen by the business elite and expats with families, focused on high quality of life and international education. Kifissia is one of the greenest areas within the city, with developed infrastructure, high level of security and low-rise buildings. This is an attractive area for investment, where stable growth in real estate prices and limited supply, guarantee profitability. High demand for rent and the possibility of modernizing old houses make the area especially interesting for long-term investments.

Average housing price: €4,200 per 1 m².

Average rental price: €10-12 per month per 1 m².

Tavros. A high-potential area to the south of the historic centre – just 2.5 km to the Acropolis. In recent years, infrastructure has been actively developing here, and new residential complexes are appearing. The proximity to the centre, and transport accessibility, make Tavros attractive to those looking for more affordable housing.

Average housing price: €2,200 per 1 m².

Average rental price: €8-10 per month per 1 m².

Kipseli. An area with a rich history and a diverse cultural landscape, located north of the centre of Athens. A comfortable place to relax and live, next to the pedestrian boulevard of Fokianos Negri with its cafes and bars, the renovated municipal market, and convenient transportation links. Characterised by dense, residential development, many small shops, cafes and parks.

Average housing price: €2,000 per 1 m².

Average rental price: €6-7 per month per 1 m².

Conditions for Purchasing Real Estate in Athens

In addition to the cost of the property itself, you need to take into account the associated costs:

It is also worth paying attention to the following points:

• In Greece, the area of ​​a property is measured by its outer perimeter, including the thickness of the walls. Therefore, the actual habitable area of ​​the property may be smaller than what is stated in the documents. 

In the beginning of  2026, Greece will launch a unified real estate registry. This will eliminate discrepancies in the area of ​​properties and simplify the buying and selling process. By using cadastral information as a single standard, public services will be able to work more quickly, bureaucracy will be reduced, and the calculation of taxes and fees (such as ENFIA and municipal payments) will become more transparent.

• Foreigners are prohibited from purchasing real estate near military bases and borders. In border regions, permission from the Ministry of Defense is required.
• Property owners in Greece are required to pay annual property taxes:

The amount of utility payments depends on the area of ​​the property and the municipality. The average amount for an apartment up to 100 m² per month is €200-300.

Residence Permit Programme through Real Estate in Greece

The Greek Golden Visa is one of the most accessible ways to become legal residents in Europe. In 3-6 months, you can get a 5-year renewable residence permit for yourself and your entire family, with a minimum entry threshold of €250,000. You must maintain ownership of the property for the entire duration of the residence permit. Selling the property without replacing it with a similar one makes it impossible to extend the status.

According to the terms of the programme, there are two zones in the country with different entry thresholds for investors:

• From €800,000 – in Athens, all of Attica, Thessaloniki, Mykonos, Santorini, Crete, Rhodes and other Greek islands with a population of more than 3,100 people
• From €400,000 – in all other regions of the country

You can buy 1 property from the developer with an area of ​​120 m².

The minimum entry threshold of €250,000 has been retained for properties that:

• Have historical or cultural value and require restoration. In this case, the investor must complete all repair work within 5 years – this is a mandatory condition for the first extension of the residence permit after 5 years.
• Transferred from commercial to residential. In this case, the developer buys the building and completely reconstructs it in accordance with current safety and energy efficiency requirements. In essence, the investor invests in a future project, ultimately receiving a modern renovated apartment in a residential complex that has the same standards as new buildings.

These properties are mostly in the Attica region and in Athens, which means that the investor has the opportunity to obtain a Greek residence permit and obtain real estate in the capital for a minimal amount.

In both cases, there are no requirements as to the size and location of the property: it can be located in any region of the country and be of any size.

Participants in the programme must be adults, not citizens of Greece or any EU country, have no criminal record and have local health insurance. Along with the main investor, the application may include a spouse, children under 21 and parents of both spouses.

The Greek Golden Visa has no residency requirements: you only need to visit once to submit your biometric data. This means that the investor is not required to move to Greece, change tax residency, or transfer the centre of their interests here if they do not have such goals.

Residents of Greece have the right to travel to Schengen countries without a visa, conduct business in Europe, gain access to local banking services, modern healthcare and quality education. In addition, holders of a European residence permit can unfreeze assets and optimise taxation, and in the future, subject to certain conditions, apply for Greek citizenship.

Furthermore, along with the resident status, the investor receives their own residence in the Mediterranean, which can be used for private purposes, or be rented out for a long term, steadily receiving income of 4-6% per annum. This is a reliable “Plan B” in case of emergencies for the whole family; a tool that expands the list of personal freedoms and opportunities.

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