Greece’s climate, quality of life and relatively low cost of living continue to attract overseas property buyers. It also remains one of the most affordable places in Europe to buy a home. From inland stone cottages to island houses near the sea, there are still ways to make your money go further if you take a strategic approach. Read your money saving tips for Greek property.

Greece’s property market offers excellent value, especially when compared to other Mediterranean countries. Prices dropped significantly during the financial crisis of the late 2000s and, although the market is steadily recovering, they haven’t bounced back to pre-crash levels in many areas. Hence for property on Corfu you’re paying on average around €2,200 per square metre (m2) but on Mallorca well over €4,000 per m2.

Get a headstart saving money on Greek property with expert advice in our free How to Negotiate Abroad guide.

That means overseas buyers can often secure characterful homes at a fraction of the cost of similar properties in Spain or Italy, especially in lesser-known regions or villages slightly inland from the coast.

However, the evidence is that prices are rising now. Property in urban areas, according to the Bank of Greece, has risen by around 20% since 2022.

Affordable apartments and townhouses in Ermoupoli, Syros

Negotiating the best price

Prices in Greece are often open to negotiation, particularly if a property has been on the market for some time or requires updating. Sellers may be willing to reduce the price for serious buyers who are ready to move forward quickly. Having your finances in order and working with a local agent who understands the market can help you make a realistic offer that still represents good value.

Check out Greek properties priced below €100,000

Reducing legal and agency fees

Using an independent lawyer is essential, but that doesn’t mean costs can’t be managed. Seek quotes from more than one lawyer and make sure the fee structure is transparent. Estate agency fees in Greece are often split between buyer and seller, so clarify your share of the cost before committing. Avoid overpaying by working with agents who are open about their commission structure.

Cost-effective property improvements

Buying a home that needs work can offer significant savings, but it’s important to understand the scope and costs involved. Older stone houses, for example, may need structural repairs that aren’t immediately obvious. Always commission a survey and get estimates – in writing – from local builders before you buy.

Could you cope with a fixer upper?

If you’re planning a renovation, use local tradespeople and source materials locally to keep costs under control. Some improvements, such as insulation, water conservation or solar panels, can also help reduce long-term running costs.

Key observations:

• Athens Metropolitan Area: The southern suburbs of Athens command the highest property prices, averaging €3,895/m², reflecting their desirability and proximity to the coast. In contrast, the western suburbs are more affordable, with average prices around €1,963/m².​

• Greek Islands: The Aegean Islands, including popular destinations like Mykonos and Santorini, have some of the highest property prices, averaging €3,329/m². The Ionian Islands, such as Corfu, also exhibit elevated prices at €2,742/m²

• Mainland Regions: Central Greece and Thessaly offer more affordable property options, with average prices of €1,352/m² and €1,246/m², respectively.

Where to save money on Greek property

While hotspots like Santorini and Mykonos command premium prices, there are many Greek islands and mainland areas where you’ll get far more for your money. Consider these great-value locations:

• Peloponnese: Beautiful landscapes, ancient ruins, and plenty of stone houses in need of renovation.

• Crete (Inland villages): Head away from the tourist resorts and you’ll find traditional homes at reasonable prices.

• Epirus (northwest mainland): One of Greece’s hidden gems, with green mountains and charming villages.

• Thassos or Evia: Less touristy islands that still offer the Greek island experience, minus the hefty price tag.

• Central Greece: Quiet, inland towns with authentic charm and prices well below coastal averages.

Average property prices across Greece

To help you compare value across the country, here are the average prices per square metre in different parts of Greece:

These averages offer a broad overview. Prices will vary depending on the location, condition and exact specification of each property. It’s worth working with a local agent who can provide current insights for the specific areas you are considering.

Check out Greek properties priced below €250,000

Managing your currency exchange

If you’re buying with pounds and the property is priced in euros, fluctuations in the exchange rate can have a significant impact on your budget. A small shift in the rate could increase your costs by thousands. Smart Currency Exchange can help you manage this risk by locking in a rate or scheduling transfers when rates are favourable. Speaking to a currency specialist early in your planning process can give you more control and peace of mind.

Another money saving tip for Greek property, protect your budget from exchange rate risks and move with confidence. Download The Property Buyer’s Guide to Currency from our trusted partner, Smart Currency Exchange.

Sources

Data from:

• Bank of Greece
• Indomio Property Portal – February 2025
• Tranio.
• 10 budget-friendly Greek properties – Your Overseas Home