Greece Rental Yields 2026: City-by-City Analysis

Prices are moving the same way: Greek apartment prices rose 7.8% in 2025 — with Thessaloniki (9.6%) outpacing Athens (6.2%) (Bank of Greece, Q4 2025). Growth continued at 5.7% in Q1 2026.

Author: M. Sami Akbeniz — Founder, Avla Real Estate, Istanbul.

The gross yield map, region by region

Figures below are gross yields (annual rent ÷ purchase price). Sources: Global Property Guide (November 2025), Spitogatos Index (Q4 2025), Indomio (November 2025).

• Central Athens — ~6% gross: sales ~€2,560/m², rents ~€12.50/m²/month. One-bed flats in Kipseli reach 7.3%; larger Kolonaki apartments sit at 3.8%.
• Piraeus — ~4.9%: sales ~€2,587/m². Rents rose 19.4% in a year — the fastest in Attica (Spitogatos, Q4 2025).
• West Athens (Peristeri) — ~5.0%: still entry-level at ~€2,120/m², with a metro-led regeneration under way.
• South Athens (Glyfada–Vouliagmeni) — ~3.8–4.5%: Glyfada €5,224/m²; Vouliagmeni holds the national record at €7,500/m². Lower yield, stronger capital growth and prestige.
• Thessaloniki — 4.4%: centre at €2,931/m²; one-beds along Voulgari–Ntepo–Martiou reach 6.0%. Prices rose 9.6% in 2025 — ahead of Athens.
• Aegina (Saronic Gulf) — ~4.3%: sales ~€2,588/m²; 25 minutes from Piraeus by fast ferry. Year-round rental demand is limited, the holiday market strong.
• Other cities: Patras 4.8% · Volos 4.2% · Heraklion 4.2% · Kavala 3.5%.

Worked example: an 85 m² flat in Peristeri

• Purchase: 85 m² × €2,120/m² ≈ €180,000
• Rent: 85 × €8.92/m² ≈ €758/month → ~€9,100/year
• Gross yield: ~5.1%
• Net yield: after ENFIA (~€300–400/year), insurance, management and a vacancy allowance, roughly the 4% band.

The short-term rental (Airbnb) reality

Athens short-term rentals run at a 71% median occupancy with an €81 average nightly rate (Airbtics, 2025). But two hard limits apply: new short-term registrations in central Athens are frozen until the end of 2026, and Golden Visa properties acquired under the current rules (Law 5100/2024) cannot be let short-term at all — violations mean permit revocation and a €50,000 fine. For Golden Visa investors, long-term letting is the strategy.

Yield or capital growth?

If cash flow comes first, central and west Athens (Kipseli, Patisia, Peristeri) lead; if capital appreciation and prestige come first, the southern coastline (Glyfada, Vouliagmeni) has historically delivered stronger value growth. Thessaloniki offers a balanced profile between the two. Read more: Athens City Centre report → · Athens Riviera report → · Full cost breakdown →

Frequently asked questions

Which area has the highest rental yield in Greece? Athens' regenerating central districts: one-bed flats in Kipseli produce 7.3% gross; the city average is 5.4% (Global Property Guide, November 2025).

How is net yield calculated? Deduct ENFIA, insurance, management, maintenance and a vacancy allowance from gross; the practical rule is 1.5–2 points below gross. Rental income tax starts at 15% under the 2026 schedule.

Can I list my Golden Visa property on Airbnb? No — properties acquired under Law 5100/2024 cannot be let short-term; violations carry permit revocation and a €50,000 fine. Long-term letting is permitted.

Where do I pay tax on my rental income? First in Greece (from 15% under the 2026 schedule); Greece's double-taxation treaties then let most investors credit the Greek tax against home-country liability.

Avla Real Estate matches districts and projects to your yield target using sourced data, with a 2-page feasibility report for every property. realestate@avla.com.tr · +90 532 282 2657

AuthorM. Sami Akbeniz

A senior economist, graduate of Université Paris 1 Panthéon-Sorbonne, and a graduate of Istanbul University Business Administration with 33 years in business; founder of Avla. Today the focus is Greece: homes for Golden Visa and for investment. He reads every shortlist and every agreement himself.

Founder profile →