Why investors are investing massively in Greek property

Greece has always been associated with natural beauty, rich culture and unique history. But now, as the world is becoming increasingly globalised, property in Greece is becoming not just a status element, but one of the most promising investments. The economic crisis of 2008 made property prices affordable and 2024 has become a turning point for those looking to invest profitably. Against the backdrop of a growing economy and improving infrastructure, property in Greece in 2024 promises to be a real financial treasure trove.

The article will give a lot of useful information for those who want to buy property in Greece.

The best cities to buy property in Greece

Buying a home in Greece always raises a lot of questions: which cities are the most attractive, what you should pay attention to, and what are the peculiarities of the property market in each region. Each location offers its own unique lifestyle, investment opportunities and level of affordability.

Athens – the heart of Greece and an investor’s dream

Athens is not just the capital city, but also the cultural and economic centre of the whole of Greece. Its historical charm, modern renovations and growing economic attractiveness make Athens one of the most promising locations for investment. In recent years, residential prices in this location have shown strong growth. Between 2018 and 2024, the price per square metre in the central districts increased by 25-30%, indicating increased interest from both foreign and local buyers.

The best places to buy property in Greece are Plaka, Kolonaki and Pangrati. Here, ancient buildings neighbour with modern apartments, and investments in renovation can bring significant profits. Infrastructure also keeps pace: the metro, new parks and modern public spaces attract young people and professionals, which has a positive impact on rental income.

Property prices in Athens, Greece vary depending on the area: in the centre the cost can reach €3500 per square metre, while in the suburbs it can be around €1800.

Thessaloniki – urban charm and great deals

Thessaloniki, the second largest city in the country, offers a unique combination of an active urban lifestyle and a cosy atmosphere. It has become attractive for young professionals and families due to its developed infrastructure and many educational institutions. Start-ups and small businesses are actively developing here, making the rental market active and stable.

The average cost of housing is about 2000 euros per square metre, which is noticeably lower than in Athens. At the same time, rental yields remain high, especially in areas close to universities and business centres. Buying property in Thessaloniki in Greece is a wise choice, which can bring an income of 5% to 8% per annum. The economic benefits are combined with a high quality of life: wide promenades, restaurants with traditional cuisine and an active nightlife make this location truly vibrant.

Corfu – island villas and a sea of opportunities

Corfu is not just a holiday island, it is one of the best places to buy property in the Greek islands. Surrounded by olive groves and stunning seascapes, the villas attract those seeking tranquillity and privacy. In recent years, the island has also become an investment destination due to the growing tourist traffic and the popularity of short term rentals.

Prices for villas in Corfu Greece range from €4,000 to €6,000 per square metre, depending on location and proximity to the sea. Thanks to the booming tourist sector and the popularity of renting through platforms like Airbnb, investments here pay off faster than in other parts of the country.

What kind of property to buy in Greece: villas, flats, flats

The Greek Islands offer a wide range of accommodation, from luxury villas with swimming pools and gardens to cosy apartments. Island life appeals to those who are tired of the hustle and bustle of the city and want to enjoy nature. For those looking for something more budget-friendly, flats are also a great choice, especially in the tourist areas.

Villas offer ideal conditions for living and relaxing: large areas, private territories, proximity to the sea. However, their cost can reach 5000-7000 euros per square metre. Houses in Greece are more affordable, with prices between 2500-4000. Apartments, on the other hand, are often located in apartment complexes with common recreational areas, making them ideal for renting out.

Residence permit in Greece through the purchase of property: possibilities and peculiarities of obtaining a residence permit

A real opportunity not only to enjoy life in this wonderful country, but also to travel freely in the Schengen area. In order to obtain a residence permit, it is necessary to purchase a residential property worth at least 250,000 euros. The process of registration includes several stages:

1. Buying a property – you need to find a property in Greece that meets the requirements for a residence permit.
2. Documents – passport, sales contract, insurance policy and medical documents.
3. Filing – once purchased and all documents have been completed, filing is done through the Greek Migration Office.
4. Obtaining a residence permit – after verification of documents and approval procedure.

The process takes from three to six months, depending on the complexity of the situation. The acquisition entitles you not only to a residence permit, but also to reside in the country with the possibility of renewing the status every five years. This is an excellent opportunity for those seeking stability and access to European markets.

Conclusion

Buying a property in Greece in 2024 is a good idea. Athens and Thessaloniki are suitable for those who want to invest in an urban lifestyle with active rentals, while Corfu and other islands are suitable for those looking for privacy and high income from tourism.

Geography, climate, economy, property and infrastructure are the five anchors that consistently keep Cyprus on the list of the best cities for high quality of life. Architecture is another advantage, for it is a palette of Roman heritage, British urbanism and Mediterranean relaxation. Demand for property is on the rise: in the last three years, Cyprus’ residential transactions have increased by 26% and residential investment by 34%.

In the article we will tell you about the most attractive cities of the country where you can live comfortably.

Limassol – financial motor and comfort all year round

Limassol is leading the way as the most balanced city. It is home to European schools, offices of international companies and business incubators and forms the core of the Republic’s business activity.

The central district of Agios Nikolaos offers premium apartments with access to yacht marinas. At Limassol Marina, a square metre costs from €4,800. The districts of Pantheia and Germasoya form a more affordable middle segment.

The climate is stably warm: winter – about +15, summer – +30, humidity – no higher than 65%. The best cities in Cyprus for living are always based on the climate as a basic criterion, and in this aspect Limassol is the leader.

Paphos is one of the best towns in Cyprus to live in

Paphos plays by the rules of visuals and aesthetes. UNESCO archaeological sites, upland villas, premium developments in the west of the city. The highest density of luxury housing outside the capital. The districts of Peyia and Tala offer private residences from €400,000.

The city is listed as one of Europe’s cultural centres, investing in tourism and expanding port infrastructure. The beaches are Blue Flag certified and there are 320 days of sunshine a year.

Cyprus property prices are rising slowly but steadily: +4% in the last 12 months. Paphos is one of the best cities. For those who appreciate the balance between privacy and everyday life.

Larnaca – a strategic hub and an affordable alternative

Larnaca becomes a new player in the ranking of ‘best cities in Cyprus to live in’ thanks to infrastructural investments. The airport with international traffic, the rapidly developing Larnaka New Marina area, a €1.2bn project.

The property market is active: the cost of housing in the area of Drosia – from € 2,000 per square, in the tourist area of McKenzie – from € 3,200. The area is convenient for families, with a compact town structure, schools, parks and proximity to the beaches.

Larnaca offers a quieter but no less fulfilling lifestyle. User reviews point to the combination of quality service and moderate prices: coffee in the centre – €2, lunch – €10-12.

Nicosia – the capital and a mosaic of cultures

Nicosia is the only city in Europe with a divided capital. The southern part belongs to the Republic of Cyprus. The northern part is controlled by the unrecognised Northern Cyprus. This geopolitical peculiarity makes Nicosia not only a symbol, but also a place of contrasts.

The capital is actively developing the IT-cluster. There are programmes to support start-ups here. Housing rent is lower than in Limassol – from €650 for a one-room flat. Investors choose the resort to buy commercial property – 12% annual yield on new projects in the Strovolos area.

The best cities in Cyprus to live in include Nicosia as a centre for education and career opportunities. The climate is more continental – up to +38 in summer and around +10 in winter.

Ayia Napa – a resort in the style of “eternal summer”

Ayia Napa is a paradise for the tourist sector and rentals. The average hotel occupancy rate is 88% in summer, 60% in spring. It is a magnet for short term rental investments. Apartments near Nissi Beach rent for €100-150 per day.

The local authorities are developing a year-round resort: they are building indoor water parks, sports centres, developing gastronomic infrastructure. Out of season, the resort remains cosy: cafes are open, rent drops to €700 per month for a 2-bedroom flat.

Ayia Napa will suit those who consider the best cities in Cyprus for living from the point of view of short-term profit and holidays.

Northern Cyprus: an alternative outside the EU

It remains a territory with a special status. Despite the political non-recognition, the flow of buyers is steadily increasing, mainly due to low prices and flexible conditions for transactions. A square metre here costs from €1,000 in the areas of Famagusta and Kyrenia. Rental income – up to 9% per annum. Investors choose this region as a starting point for portfolio investments.

Living here is different from the rest of the Republic – less bureaucracy, lower taxes, more flexible market. The temperature in January rarely drops below +12, in summer it stays around +33. The best cities in Cyprus for living are often considered in a bundle. The main housing is in the Republic, investment housing – in the northern part of the island.

The best cities in Cyprus to live in: summarised in facts and figures

Cyprus is an island of opportunity, with each resort offering a different lifestyle. From high-end businesses to secluded holidays by the sea. Here you can find the perfect place to suit your goals. When choosing a city, it is important to consider not only the cost of living, but also the infrastructure, career prospects, level of service and atmosphere.

The choice depends on your priorities: business – Limassol, culture – Paphos, budget – Larnaca, career – Nicosia, rent – Ayia Napa.

Advantages of the resorts:

1. Limassol: headquarters of international companies, international schools, premium housing, business infrastructure.
2. Paphos: UNESCO heritage, luxury villas, developed tourism, silence and comfort.
3. Larnaca: international airport, democratic prices, proximity to the sea, active development.
4. Nicosia: business centre, affordable housing, strong IT sector, metropolitan status.
5. Ayia Napa: ideal for rent, resort life, developed infrastructure for holidays.

Each of these cities offers different price levels, rhythm of life and growth prospects. The right choice will not only help you improve your quality of life, but also create a base for professional and personal development. The resort remains one of the most balanced relocation destinations in Europe.

Conclusion

Cyprus maintains stable conditions for obtaining a residence permit through investment. The minimum threshold is from €300,000 in property. The demand for housing remains high: the demand for secondary housing increased by 12%, for new buildings – by 18%. Beaches and the sea remain arguments. The best towns in Cyprus for living retain access to coastal areas. The Republic guarantees security, economic stability and Europeanised law.