The Most Popular Regions to Buy a Second Home in Greece

Greece, with its sun-drenched islands, rich cultural tapestry, and picturesque coastlines, has become a leading destination for international homebuyers seeking a perfect blend of lifestyle, investment, and personal escape. Whether you’re drawn by the lure of the Mediterranean, the charm of mountain villages, or the intriguing mix of ancient and modern life, Greece offers an incredible range of options for purchasing a second home. This comprehensive article examines the most popular regions in Greece for second-home ownership, delving into the unique characteristics, investment potential, lifestyle offerings, legal frameworks, and living experiences in each area.

Table of Contents

1. Why Buy a Second Home in Greece?
2. Athens Riviera: Urban Sophistication by the Sea
3. Mykonos: The Glamor and Vibrance of the Cyclades
4. Santorini: Iconic Beauty and Breathtaking Views
5. Crete: Diversity, Culture, and Value for Money
6. Corfu: The Emerald Gem of the Ionian
7. Rhodes: Medieval Allure and Mediterranean Splendor
8. The Peloponnese: Authentic Greek Living and Investment Potential
9. Paros: Rising Star Among the Cycladic Islands
10. Chalkidiki: The Northern Peninsula of Paradise
11. Nafpaktos and Central Greece: Hidden Gems Away from the Crowds
12. Practical Considerations for Buying Property in Greece
13. Conclusion: Choosing Your Greek Second Home

Why Buy a Second Home in Greece?

Greece stands out as a prime destination for second-home buyers due to a unique combination of climatic advantages, accessible property prices, vibrant tourism, easy air connections, and a favorable legislative environment for foreign investors. Understanding why Greece has gained such popularity as a second-home haven is key to appreciating the regions explored in this article.

Climate and Natural Beauty

Greece boasts more than 250 days of sunshine annually, a mild Mediterranean climate, and diverse geography ranging from idyllic beaches and turquoise waters to dramatic mountains. The natural splendor encourages an outdoor lifestyle, with opportunities for water sports, hiking, and cultural exploration throughout the year.

Accessible Property Prices

While prices in some islands have surged in recent years, Greece overall offers property values that are frequently more competitive than those of Western Europe or the Mediterranean’s pricier locales, such as the French Riviera or the Amalfi Coast. This makes the dream of Mediterranean living more attainable for a wider array of buyers.

Lifestyle and Culture

The legendary Greek hospitality (“philoxenia”) welcomes newcomers. Whether in the heart of bustling Athens or a sleepy island village, the blend of lively social life, world-renowned cuisine, traditional festivals, and ancient heritage creates an irresistible sense of place.

Investment & Rental Potential

Greece’s robust tourism sector—one of Europe’s leaders—drives consistent demand for short- and long-term rentals. Many properties can yield attractive annual returns from vacation letting, particularly in the most sought-after regions explored below.

Golden Visa Program

The Greek Golden Visa program allows non-EU citizens to secure residency rights through property investment. This has significantly boosted interest from international buyers, especially those from Asia, Russia, and the Middle East.

Armed with these advantages, let’s explore the most popular regions in detail.

Athens Riviera: Urban Sophistication by the Sea

The Athens Riviera stretches from the southern suburbs of Athens to Cape Sounio, offering a dazzling fusion of city amenities, cultural riches, and luxurious beach living. This 35-kilometer coastal strip is rapidly transforming into one of the Mediterranean’s most desirable addresses, driven by major infrastructure projects and an influx of high-end developments.

Key Locations

• Glyfada: A cosmopolitan suburb offering upscale shopping, glamorous nightlife, and easy beach access.
• Vouliagmeni: Known for its lush pine landscapes and the therapeutic Vouliagmeni Lake, this area is favored for its tranquility and exclusivity.
• Varkiza and Saronida: Further south, these areas appeal to buyers seeking relaxed seaside living within easy reach of the airport and Athens city center.

Why Investors Love the Athens Riviera

1. High-end Infrastructure: Luxury resorts, marinas, golf courses, and rejuvenated public spaces offer high quality of life.
2. Lifestyle: Easy access to cultural venues, gourmet dining, top-tier education, and healthcare services.
3. Rental Income: Constant demand from expatriates, business travelers, and tourists ensures healthy short- and long-term rental opportunities.
4. Connectivity: Proximity to the Athens International Airport and city center, plus ongoing transport upgrades such as the Ellinikon mega-project.

Typical Properties and Prices

Buyers can choose from contemporary waterfront apartments, refurbished townhouses, luxury villas with pools, and estates with direct beach access. Prices generally range from €3,000-€7,000 per square meter, depending on view, location, and amenities. Ultra-luxury villas in Vouliagmeni can command significantly higher figures.

Mykonos: The Glamor and Vibrance of the Cyclades

Mykonos is the undisputed superstar of the Greek islands, a cosmopolitan playground renowned for its nightlife, celebrity culture, sugarcube architecture, and scintillating beaches. Over the last two decades, Mykonos has evolved from bohemian enclave to global lifestyle beacon, drawing luxury buyers from every continent.

Mykonos as a Second-Home Destination

• Social Scene: World-class beach clubs, gourmet restaurants, designer boutiques, and an energetic nightlife attract jet-setters and sophisticates.
• Island Aesthetics: The iconic whitewashed houses, turquoise sea, and vibrant bougainvillea create a visually captivating environment.
• Accessibility: Frequent direct flights from Europe and daily boat connections ensure easy year-round access.
• Rental Returns: Extremely high demand in the summer allows owners to command top rental rates.

Property Types and Price Ranges

In Mykonos, buyers will find stunning villas perched on hillside locations with infinity pools and panoramic Aegean views, as well as charming village houses and modern apartments. Prices have soared, with beachfront villas reaching €1 million and above, and top-tier properties frequently selling for €2 million to €10 million or more. The town (Chora) and areas like Ornos, Psarou, and Agios Ioannis are among the most desirable.

Who Buys in Mykonos?

Wealthy Greeks, Europeans, Americans, Middle Eastern, and Asian investors predominate, often combining personal enjoyment with high rental yields. Many owners lease properties for a premium price during peak months, covering annual costs and frequently turning a substantial profit.

Santorini: Iconic Beauty and Breathtaking Views

No other destination exemplifies postcard-perfect Greece better than Santorini. Its dramatic volcanic cliffs, blue-domed churches, and world-famous sunsets enthrall millions each year. For second-home buyers, Santorini offers an unparalleled combination of romance, exclusivity, and investment opportunity.

Main Attractions

• The Caldera: Properties perched above the caldera boast commanding views of the sea and the island’s legendary sunsets.
• Archeological and Cultural Richness: From the ancient city of Akrotiri to Byzantine churches, Santorini offers a deep and fascinating past.
• The Gastronomy: The volcanic soil produces exceptional wines and cuisine, making local dining a pleasure in itself.

Property Highlights and Price Points

The most coveted homes overlook the caldera in Oia, Imerovigli, Fira, and Firostefani. Here, buyers can find traditional cave houses (“yposkafa”) artfully converted into luxury dwellings, as well as modern villas and boutique complexes. Prices are among Greece’s highest, with prime caldera-front residences ranging from €500,000 to several million euros. More affordable options exist in Pyrgos, Megalochori, and inland villages.

Rentability and Investment

Santorini’s enduring global appeal ensures nearly full occupancy during the extended tourism season. Luxury short-term rentals can yield substantial returns. The combination of limited new development (due to geography and regulations) and constant demand helps underpin property values.

Crete: Diversity, Culture, and Value for Money

Crete, Greece’s largest island, is a magnet for second-home buyers seeking space, amenities, and a unique fusion of cosmopolitan and traditional Greek lifestyles. Its vast size means a remarkable variety of landscapes and price points: from thriving cities to remote mountain hamlets and exclusive beach enclaves.

Most Popular Areas in Crete

• Chania: The western city and surrounding region are known for Venetian architecture, vibrant culture, and beautiful beaches. The old town’s harbor is especially photogenic.
• Elounda and Agios Nikolaos: The eastern coast caters to luxury buyers, with opulent villas, five-star hotels, and secluded coves.
• Rethymno and Heraklion: Both cities offer a mix of urban energy, historical charm, and proximity to international airports.

Property Types and Market Trends

Crete presents exceptional value compared to Mykonos or Santorini, with a wide range of refurbished historical homes, ocean-view villas, townhouses, and modern apartments starting from €100,000 in less touristy areas. Prime coastal homes can reach €1-2 million.

Lifestyle Advantages

1. Rich cuisine and farmer’s markets filled with local products
2. Alic and friendly expat community
3. Excellent hiking, beaches, and water sports
4. Year-round cultural life due to the island’s size and larger permanent population

Crete’s affordability, coupled with growing air links and robust local infrastructure, continues to boost its popularity with second-home seekers from Europe, North America, and beyond.

Corfu: The Emerald Gem of the Ionian

Located in the northwest Ionian Sea, Corfu’s lush, verdant landscapes and Venetian-influenced towns make it a perennial favorite. “Kerkyra,” as it is known locally, fuses Old World elegance with a relaxed island pace, gaining the adoration of generations of British, Italian, French, and now global buyers.

Corfu’s Second-Home Hotspots

• The North-East Coast: Areas such as Kassiopi, Agni, and Avlaki attract affluent buyers with exclusive waterfront villas and timeless hillside homes.
• Corfu Town: A UNESCO-listed gem, this city is alive with culture, shopping, and spectacular historic architecture.
• Paleokastritsa and the West: More remote, these regions offer dramatic coastline and traditional hamlets, ideal for those seeking seclusion.

Advantages for Second-Home Buyers

• Greenery: Unlike many Aegean islands, Corfu is carpeted in lush vegetation, centuries-old olive groves, and flowering gardens.
• Heritage: Centuries of Venetian, British, and French influence enrich the culture and built environment.
• Accessibility: Direct international flights from across Europe and regular ferry links to Italy and the Greek mainland.
• Rental Market: Growing demand for family-friendly and high-end villa rentals.

Property Types and Values

Buyers can acquire everything from traditional Corfiot mansions with sea views to chic modern apartments and grand estates. Waterfront villas on the northeast coast command prices between €700,000 and €5 million, while village homes and apartments can start at €150,000.

Rhodes: Medieval Allure and Mediterranean Splendor

Known as the “Island of the Knights,” Rhodes is the largest of the Dodecanese and enthralls with its walled medieval Old Town, golden beaches, and sun-drenched climate. Second-home buyers prize Rhodes for its harmony of cosmopolitan lifestyle, historical immersion, and leisure possibilities.

Prime Areas for Second Homes

• Rhodes Town: The Old Town—a UNESCO site—buzzes with energy, restaurants, and year-round activity.
• Lindos: A picturesque village of whitewashed houses surrounding an acropolis, minutes from romantic coves.
• Kallithea, Ialysos, and Faliraki: Well-serviced beach communities offering resort amenities and easy access to the airport.

Property Market and Price Points

From refurbished Ottoman and Venetian townhouses in the Old Town to expansive seaside villas and modern apartments, Rhodes offers broad appeal. Prices range from €500,000–€2 million for luxury villas and €150,000–€400,000 for quality apartments or village homes.

Lifestyle and Investment Advantages

1. Excellent beaches, water sports, and golf courses
2. Year-round international airport
3. Rich historical sites and vibrant local events
4. Strong rental demand in summer and for long-term leases

The Peloponnese: Authentic Greek Living and Investment Potential

The Peloponnese peninsula offers a distinctly local Greek experience with unspoiled beaches, mountain villages, and archaeological wonders—yet is easily accessible from Athens. Once the domain of historic family estates, it’s now attracting international buyers who seek value, serenity, and expanding infrastructure.

Major Second-Home Destinations

• Messinia: Around the Costa Navarino luxury resort and Pylos, high-end homes and golf course villas are in demand.
• Mani Peninsula: Stone tower houses in wild settings for those looking for authenticity and drama.
• Porto Heli: Known as the “Greek Riviera,” this area caters to an elite crowd, with luxury marinas and helicopter access.

Why Invest in the Peloponnese?

1. Accessibility: Good road and ferry links, plus regional airports in Kalamata and Araxos
2. Landscape: Dramatic coasts, mountains, olive groves, and vineyards
3. History and Culture: Ancient Olympia, Mycenae, and Byzantium treasures abound
4. Investment Potential: Lower property prices and growing international interest signal strong future growth

Prices vary widely, from €150,000 for village homes to several million for prime estates, especially in Costa Navarino and Porto Heli.

Paros: Rising Star Among the Cycladic Islands

Paros has rapidly climbed the ranks of desirable Greek island destinations, offering quintessential Cycladic beauty, a lively yet relaxed scene, and more affordable prices relative to Mykonos or Santorini. Its burgeoning popularity is fueled by new infrastructure, such as an expanded airport.

Top Locations on Paros

• Naoussa: The island’s glamorous port, abuzz with dining and nightlife, surrounded by luxury villas.
• Parikia: The capital and main ferry port, blending traditional charm and modern convenience.
• Piso Livadi, Lefkes, and Aliki: Each offers a different pace and character, from cosmopolitan to quietly rustic.

Property Market Features

Paros offers modern apartments, elegant Cycladic villas, and traditional houses. Prices for quality homes begin at €300,000-€400,000, with luxury waterfront properties reaching €2 million or more. The arrival of international buyers—especially from France, Italy, and Israel—fuels demand and market dynamism.

Why Paros?

• Beautiful beaches and crystal-clear water
• Vibrant yet manageable social scene
• Short ferry connections to Mykonos, Naxos, and mainland Greece
• Rapidly expanding amenities and infrastructure

Chalkidiki: The Northern Peninsula of Paradise

Chalkidiki, a three-fingered peninsula stretching into the Aegean north of Thessaloniki, combines pine forests, emerald seas, and Blue Flag beaches with easy access to Greece’s second-largest city. It’s a favorite of families, expatriates, and Balkan buyers.

Best Areas in Chalkidiki

• Kassandra: Famous for touristic resorts, lively nightlife, and a wide range of properties.
• Sithonia: More laid-back, with hidden coves, unspoiled forests, and tranquil villages.
• Mount Athos Vicinity: While access to the monastic community itself is restricted, the towns nearby offer serenity and spiritual charm.

Property Types and Markets

Buyers can choose beachfront apartments, detached villas, and hillside houses. Entry-level second homes start at €100,000, while prestige villas—often with private beaches—can fetch €1 million or more.

Lifestyle Pros

1. Excellent road and airport access (via Thessaloniki)
2. Family-friendly environment
3. Vast, uncrowded beaches
4. Strong summer rental market, especially with Balkan and Central European tourists

Nafpaktos and Central Greece: Hidden Gems Away from the Crowds

While the islands and southern coasts attract the lion’s share of second-home interest, mainland Greece has its share of unsung jewels. Nafpaktos, located on the Corinthian Gulf and easily reached by car from Athens, is a perfect example.

Nafpaktos: Tranquility Meets Heritage

• Historical Charm: Venetian fortifications, medieval harbor, cobbled streets.
• Natural Surroundings: Backed by forested mountains and graced by beaches and coves.
• Affordability: Lower property prices compared to islands or the Athens Riviera.
• Year-round Living: A working town with a lively calendar beyond the summer months.

Other Noteworthy Spots in Central Greece

• Arachova and Delphi: Mountain retreats with winter sports, hiking, and proximity to ancient sites.
• Pelion Peninsula: Lush vegetation, traditional mansions, and access to both Aegean and Pagasitic Gulf coasts.
• Evian Island (Euboea): Less touristed, beautiful, with excellent beaches and close to Athens.

Property Values and Appeal

Entry-level homes are often available for under €150,000, though restored historic mansions and beachfront properties can exceed €500,000. Many of these areas are gaining attention from savvy buyers seeking authentic Greek life, stunning surroundings, and medium-term investment potential.

Practical Considerations for Buying Property in Greece

Owning a second home in Greece is rewarding, but it is crucial to understand the practical implications and legal frameworks before taking the plunge. Recent reforms have made the process more streamlined for foreigners, yet due diligence remains essential.

Legal Framework and Property Ownership

• Non-EU Buyers: Most areas are open for purchase, but certain border and military regions may require special permission.
• Golden Visa: A property investment of at least €250,000 (set to increase to €500,000 in Athens, Mykonos, Santorini, and Thessaloniki zone) grants a five-year renewable residency permit for non-EU citizens and their families.
• Land Registry and Due Diligence: Working with an experienced Greek notary and law firm to ensure proper title, clear boundaries, and absence of unpaid taxes or liens is critical.

Transaction Process

1. Appoint a local lawyer and real estate agent; obtain a Greek tax number (“AFM”).
2. Reserve the property via a preliminary contract and deposit.
3. Legal checks: Title search, urban planning conformity, and tax verification.
4. Notary signs the final contract in presence of both parties, with funds transferred via Greek banks.
5. Registration at the local land registry; payment of transfer taxes and associated fees.

Taxes and Running Costs

• Transfer Tax: 3% of the property value
• Annual ENFIA Property Tax: Based on location, size, and age of property (usually modest for second homes)
• Notary, Legal, and Agent Fees: 5–10% of transaction value (combined estimate)
• Maintenance, Utilities, and Community Fees: Vary by property type and region.

Financing and Currency Considerations

While Greek banks have improved their mortgage offerings in recent years, most non-Greek buyers finance their purchases via equity or non-local lenders, especially for second homes. Managing currency risk, especially for non-euro buyers, is advisable.

Rental and Management Options

Numerous local agencies offer “turnkey” services, including property management, rental marketing, cleaning, and maintenance. This makes it feasible for non-residents to earn rental income and protect their investment.

Conclusion: Choosing Your Greek Second Home

From the Athenian Riviera’s urban chic to the world-famous sunsets of Santorini, the green landscapes of Corfu, and the authenticity of the Peloponnese, Greece’s regions offer an unparalleled variety of second-home experiences. Buyers are treated not just to stunning natural beauty, but to an ancient heritage, vibrant living culture, and the promise of a personally enriching lifestyle and resilient investment.

Your choice will ultimately depend on personal priorities: Do you seek cosmopolitan flair and urban amenities, serene beach seclusion, or deep immersion in tradition? Are you interested in maximizing rental returns or establishing a family legacy? Regardless of your objectives, Greece’s most popular regions to buy a second home will continue to beckon with their unique blend of sun, sea, style, and soul.

Whatever you decide, a home in Greece promises not only tangible financial and lifestyle rewards but also a connection to a land where the ancient world and modern life intertwine magnificently. Begin your journey with careful research, professional guidance, and an open heart—and let Greece’s beauty, history, and warmth welcome you home.