Athens is one of the world’s most iconic cities. Named after Athena, goddess of wisdom, it’s one of the oldest cities with a recorded history that stretches back 3,400 years. An ancient center for democracy, the arts, education, and philosophy, it’s considered the cradle of Western civilization.
But Athens’s importance isn’t stuck in the past. Today, this cosmopolitan metropolis of 3.6 million people remains the economic, financial, and cultural hub of Greece and one of Southeast Europe’s most important economic zones. It hosts a major financial sector, a thriving port, and an increasingly globalized economy.
Tourism keeps breaking records. Athens now welcomes around 6 million visitors a year who come to see the Acropolis and Parthenon as well as modern attractions: award-winning gastronomy, buzzing café culture, a thriving contemporary art scene, live music, performances, and shopping.
This blend of global appeal and modern growth is fueling a property market that has quickly risen to the top of international investors’ watchlists.
Athens’s Hot Property Market
Thanks to strong domestic demand, a surge of foreign buyers, and favorable economic conditions, Athens real estate has been on a steady climb. Prices are rising in all of the city’s main areas…
From Q2 2024 to 2025, Athens Center prices rose by over 13%, reaching €2,400 per square meter. The most expensive area is Athens South, where prices hit €4,052 per square meter, an 8% increase year-on-year.
These are low prices compared to Europe’s other capitals. For comparison, the price per square meter in Rome is about €3,600; in Madrid, it’s €6,000; and in Paris, it’s €9,600.
Even with recent growth, Athens remains one of Europe’s best-value capital cities—a major draw for yield-focused investors looking for upside. Looking ahead, the European Banking Authority expects Greek housing prices to rise another 4.4% in 2025.
Foreign Investment And The Golden Visa Advantage
Foreign investors now account for over 30% of Athens’s real estate market. Much of this activity is driven by Greece’s Golden Visa Program, one of the few still available in Europe with a real estate pathway.
Here’s an overview of the current thresholds:
- €250,000 – for conversions of commercial properties into residential or for listed properties restored in full.
- €800,000 – for a single property (at least 120 square meters) in high-demand areas.
While Golden Visa properties can’t be used for short-term rentals, they do unlock a five-year residence permit and a path to citizenship in as little as seven years.
Demand is only growing, despite the recently increased investment thresholds. In 2024, 9,407 people applied (an 11% increase from 2023). From January to April of this year, 3,506 more applications were submitted.
Tax Incentives For Investors And Retirees
Greece has sweetened the pot with investor– and retiree-friendly tax regimes. For example, retirees moving to Greece can pay a flat 7% tax on foreign-sourced income for up to 15 years. This makes Greece even more attractive for North American investors looking for lifestyle relocation plus tax efficiency.
The Best Income Play In Athens: Short-Term Rentals
Beyond residency and tax incentives, Athens offers another compelling angle for investors: short-term rentals (STRs).
With millions of visitors every year, Athens is an active tourism destination where demand for short-term accommodation is steady and growing. For investors, that translates to high occupancy rates during peak tourist seasons and above-average yields.
The renter base is well-diversified, from tourists to business travelers to digital nomads. A smart strategy could be a city-center apartment near attractions or properties in coastal districts.
There are two caveats to this strategy to be aware of:
- Golden Visa properties can’t be used for STRs. For investors who aren’t pursuing residency and are instead focused on cash flow, an STR in a historic tourism destination like Athens is one of the strongest methods of generating foreign-sourced income.
- Regulations related to STRs around the world are subject to change. This is something for investors to keep an eye on in Athens.
Why Athens Belongs On Your Radar
No market is without risk. In Athens, potential headwinds include global economic and geopolitical shocks, imbalances between supply and demand that could cause changes to investment policies, and strains on domestic demand caused by rising prices.
Even so, the fundamentals are sound:
- Affordable entry point by European standards
- Growing international buyer base
- Strong domestic and international demand
- Europe’s most popular golden visa program
- Attractive tax incentives for investors and retirees
Athens is in the sweet spot right now—still undervalued relative to its peers yet supported by strong fundamentals and growing foreign demand. For savvy investors, the timing couldn’t be better to get positioned.
To smooth travels and successful property buys,
Sophia Titley
Editor, Overseas Property Alert