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Regional Statistics

Jul 25, 2017

Rental returns are moderate in Greece

Last Updated: Jul. 25, 2017
COST () YIELD (p.a.) PRICE/SQ.M. ()
120 sq. m. 341,520 1,188 4.17% 2,846 9.90
200 sq. m. 652,000 1,958 3.60% 3,260 9.79
120 sq. m. 273,840 1,009 4.42% 2,282 8.41
200 sq. m. 523,000 1,932 4.43% 2,615 9.66
200 sq. m. 703,600 1,528 2.61% 3,518 7.64
300 sq. m. 852,900 2,283 3.21% 2,843 7.61
70 sq. m. 100,800 n.a. n.a. 1,440 n.a.
120 sq. m. 194,280 n.a. n.a. 1,619 n.a.
275 sq. m. 694,375 n.a. n.a. 2,252 n.a.
Districts researched:
Athens Centre: Kolonaki
Athens Suburb: Glyfada, Kifisia, Psichiko
Crete: Aghios Nikolaos, Apokoronas, Chania, Elounda, Rethymnon
Source: Global Property Guide Definitions: Data FAQ See also: Update Schedule

How much will you earn? In the centre of Athens gross rental yields on apartments are moderate, at around 4.2% for apartments of 120 square metres (sq. m), but proportionately more for smaller apartments. To define terms, the gross rental yield is the rent the landlord will earn - before taxation, vacancy costs, and other costs - compared to the purchase price of the property.

The gross rental yield in suburbs of Athens is about 4.5%. Again, smaller apartments will earn proportionately more.

How much do apartments cost? In our latest survey, the average price per square sq. m. in Central Athens ranges from around EUR 2,800 to EUR 3,300.

In the suburbs of Athens, i.e., Ekali, Kifisia, Psychiko, Glyfada, the average price per sq. m. of apartments ranges from around EUR 2,200 to EUR 2,650, while houses cost around EUR 3,200 per sq. m.

Apartments in Crete cost around EUR 1,400 per sq. m. while villas cost around EUR 2,500 per sq. m.  Yields are lower here than in Athens, at least for apartments (for which we had yields research the year before last, but not this year) at around 3%.

How easily will you rent your property? Properties are reasonably easy to let. Athens is a large city with traffic problems, and many people need to rent. Crete has a thriving Airbnb letting scene.

When buying property, take into account the fact that round trip transaction costs are quite high in Greece. See our Residential transaction costs analysis for Greece and Residential property transaction costs in Greece, compared to the rest of Europe.


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