Permanent residence in Cyprus for property investments: everything you need to know

A home by the sea is not just a purchase, it is an investment in quality of life. Greece with its warm climate, clean beaches and stunning views attracts those who dream of tranquillity, comfort and beauty. Where to buy a flat in Greece by the sea and how to organise the whole process? In this article we will go through each step, from choosing a region to organising all the necessary documents.

Attica – proximity to the capital and the sea

Attica is a great place for those who want to live on the coast but not lose access to metropolitan life. There are prestigious coastal neighbourhoods such as Glyfada, Vouliagmeni and Varkitsa, where clean beaches are combined with first-class infrastructure. The average cost per square metre is around 3500-5000 euros.

Attica has an international airport “Eleftherios Venizelos”, which makes frequent travelling comfortable and fast. Buy a flat in Greece by the sea here – not just prestigious, but also convenient in terms of infrastructure. There are top restaurants, shopping centres and elite schools nearby. Living in Attica is comfortable both for families with children, thanks to the many private kindergartens and schools, and for business people who want to be in the centre of events.

Crete is an island of opportunity and vibrant culture

Crete is a place with a unique flavour, where life is relaxed and vibrant. It is the largest island in Greece and offers accommodation to suit all tastes, from small flats on the coast to spacious villas. The average price per square metre ranges from 1500 to 3000 euros depending on location. Buying a house by the sea in Crete is also an opportunity for a stable income.

Tourism is actively developing here, the island attracts many tourists every year, and renting out accommodation can be a great source of profit. Developed infrastructure, abundance of historical sights – Knossos Palace, Arkadi Monastery – and picturesque landscapes make this island not only attractive for living, but also favourable for investment.

Santorini – luxury accommodation with unique views

Santorini is an island that captivates at first sight with its views. Snow-white houses with blue domes against the azure sea create a unique image. Here you can buy a flat in Greece by the sea and get access to the most beautiful sunsets in the world, which can be seen from the caldera.

Property in Santorini is more expensive than the national average – from 4000 to 7000 euros per square metre, but this investment brings not only status, but also joy every day. The island offers many restaurants, designer boutiques and cosy cafes. Santorini is the choice of those who appreciate luxury, are not afraid to spend on real emotions and want to be in one of the most photogenic places on the planet.

Features:

1. Spectacular views of the caldera and the Aegean Sea.
2. An exclusive property that has remained in demand for many years.
3. The opportunity to enjoy the best restaurants with traditional Greek cuisine and the best wines of the region.

The procedure: How to buy a flat in Greece by the sea

Buying a home involves several key steps, each of which is important for the successful completion of the transaction. It starts with choosing a property and a reliable agency. It is important to find a trustworthy agency to avoid hassles and hidden fees. After choosing the object, a preliminary agreement is signed, which fixes the price and terms of the deal. The agreement protects the interests of the parties and guarantees that the property will be secured while the legal due diligence takes place.

It is necessary to collect documents to buy a property in Greece, among them:

1. Passport and Tax Identification Number (TIN).
2. Bank statements proving the financial solvency of the buyer.
3. Certificate of absence of debts and legality of income.

It is impossible to buy a flat in Greece by the sea without these documents. Each document must be prepared in advance to avoid delays in the process of registration of the transaction. All originals must be translated into Greek and notarised. After the preparation of the package follows the registration of ownership rights in the Land Registry, where all changes and legal rights to the property are recorded. This is the final stage after which the person becomes the full owner.

Prices of flats in Greece by the sea: what to expect?

The cost varies depending on the region chosen. For example, in the prestigious areas of Attica the price per square metre can reach 4000-5000 euros, while in Crete or in remote parts of the country – from 1500 to 3000 euros per square metre. The possibility to take out a mortgage on property in Greece makes the purchase more affordable. Greek banks offer mortgages to foreigners and the rates vary from 3 to 5%, depending on the terms of the bank and the financial history of the buyer:

1. Down payment – typically 20-30% of the home’s value.
2. Mortgage rate – can vary depending on the term and bank, starting at 3%.
3. The repayment period is up to 30 years.

Taxes and additional costs when buying a property in Greece

You need to consider not only the cost of the property, but also the additional costs:

1. Property purchase tax – is 3-5% of the value of the property depending on its category.
2. Notary services – the cost of which is about 1-1.5% of the total amount of the transaction.
3. Legal services – lawyer’s fee for checking the legal cleanliness of the object (about 1%).
4. Registration fees – at the Land Registry, which are approximately 0.5% of the value.

All of these costs can add up to 10% of the total cost of the property, so it’s important to consider them when planning your budget.

Why it is favourable to buy a flat by the sea in Greece: How to get a residence permit

Residence permits in Greece for the purchase of real estate are available to those who purchase a property with a value of 250,000 euros or more. The residence permit entitles the holder to travel freely within the Schengen area, to use the services of the local health care system and educational institutions.

Advantages of a residence permit:

1. Freedom of movement – the possibility of visa-free entry to Schengen countries.
2. Health and education – access to public and private facilities.
3. Five-year term – renewable if the property remains in the owner’s possession.

Conclusion

Prestigious Attica, vibrant Crete or romantic Santorini, each location offers unique opportunities for those looking to invest in their future. Buying a flat in Greece by the sea is not just about buying a property, it is about making the dream of living by the azure coast a reality.

The question of whether it is worth moving to Greece is heard more and more often not only among those who dream of the sea, but also among pragmatists looking for a balance between comfort, stability and the cost of living. The country is no longer just a resort: it has become a stage where the scenario of a new life is increasingly being played out – with a European background, oriental rhythm and southern flavour. Analyse below, using concrete figures and realities.

Geography of comfort: climate and ecological environment

The answer to the question of whether it’s worth moving to Greece starts with the climate. 300+ days of sunshine a year, mild winters, dry summers, with average temperatures of around +10°C in January and up to +34°C in August. Humidity rarely exceeds 70%, making even the hot months bearable.

Attica, Crete and Rhodes offer not only a comfortable climate, but also low levels of air pollution by European standards. In the Peloponnese, the level of suspended particulate matter in the air does not exceed 25 µg/m3 (according to Eurostat), which is below WHO standards.

Economic background: work and costs

To soberly answer whether it is worth moving to Greece, it is necessary to take into account the local labour market. The average salary is around €1100 per month (2024), with the minimum wage set at €910. The unemployment rate has fallen to 10.4 per cent, but regional disparities remain: Athens and Thessaloniki offer more opportunities, while islands and provinces suffer from seasonality.

Prices for basic products and services are lower than in most Western European countries. Example: a basket of 12 categories of goods in Athens (milk, bread, vegetables, meat, household chemicals, etc.) is about €170. The cost of renting a flat in the centre is from €500, on the outskirts – from 300.

Utility costs (electricity, water, internet) average €120-160.

Welfare, infrastructure and medicine

Understanding whether it is worth moving to Greece is impossible without analysing the healthcare sector. Public clinics operate according to European standards, but are often overloaded. Private medical centres offer quality services for reasonable money: an appointment with a specialist – €30-60, insurance policy – from €50 per month.

The transport network is unevenly developed. In Athens – metro, trams, buses. In other regions – emphasis on personal transport. Petrol costs about €1.90/litre.

Communication is stable: mobile internet – €10-15 for 10-20 GB, home internet – from €25 per month.

Cultural characteristics

When deciding whether to move to Greece, mentality is important. The high level of trust in society is combined with the slowness of administrative processes. Greeks value personal space, but do not avoid contacts. The style of communication is direct, emotional, but without aggression.

Integration is easier through language. Greek is not the most difficult for Slavs in terms of grammar. Mastery of English is enough at the start, especially in tourist and educational spheres.

Real estate: buying, renting and investing

Interest in buying property in Greece continues to grow. The average cost of a square metre in Athens is about €2200, in Thessaloniki – €1500, on the islands – from €2800.

The purchase of real estate gives the right to residence permit under the programme “golden visa” with investments from € 250 000. The programme is valid in Athens and Crete, while in Santorini and Mykonos the threshold is €500,000.

Investments in real estate provide yields of 4-7% per annum, especially in the short-term rental segment.

Legal aspects and long-term perspectives

Immigration to Greece requires a clear understanding of the conditions. For third country nationals, options are available on the basis of investment, freelancing, student visas or family reunification. Permanent residence is possible after 5 years of continuous residence.

Bureaucratic processes take time: registration of residence permit – 2-4 months, obtaining citizenship – from 7 years. But the level of control is lower than in France or Germany.

Pros and cons from the eyes of those who have moved away

According to the feedback from those who have moved to live in Greece, the way of life is pleasing in its simplicity. The slow pace of life reduces stress, and the sea and mountains are available at any time. The reviews also point out difficulties: high VAT (24%), seasonal water cuts on the islands, poor digitalisation of public services.

Pros of moving to Greece:

1. Loyal requirements for obtaining a residence permit.
2. Moderate food and housing prices.
3. A simple, comfortable rhythm of life.
4. Diversity of climatic zones.
5. Potential for property investment.

The cons of moving to Greece:

1. Difficulty finding a high-paying job.
2. Bureaucratic inertia.
3. Slow development of digital services.
4. Seasonal overloading of infrastructure on the islands.
5. Relatively high property taxes.

The balance between attractive living conditions and internal constraints forms an ambiguous image of the country. Despite the pros, each step requires an accurate assessment of personal priorities and a willingness to adapt to the local rhythm. The ability to balance expectations with reality is key.

Country in figures

The country has an area of 131,957 km². The population is about 10.3 million. As of 2024, the inflation rate is stabilised at 3.1% and GDP per capita is about €21,000.

Immigration to Greece has increased since the pandemic. In 2023, the country issued more than 13,000 new residence permits, of which 40 per cent were for real estate.

Whether it is worth moving to Greece: conclusions

The answer to the question whether to move to Greece depends on expectations and goals. For investors – a window with reasonable rates and simplified access to residence permits. For remote professionals – a chance to live by the sea with low costs. For families – a chance to raise children in an environment with a mild climate and a moderate pace. The country offers a balanced format confirmed by statistics, examples and testimonials.