The Greek real estate hotspots offering the highest yields to investors
Research by Astons, the international expert in real estate, residency and citizenship through investment, has revealed which areas of the Greek real estate market currently offer the best investment opportunities.
Astons has analyzed the current property and rental values in the Greek market to see which areas international property investors are seeing the highest returns, whether they are investing in the national migration program or just looking for a vacation home to live after the pandemic.
The northwestern peninsula of Chalkidiki is currently at the top of the Greek real estate investment table. It is one of the most developed areas of Greece and offers a mix of modern amenities, historic architecture, Greek culture and outstanding natural beauty.
The property value currently averages € 142,128 in the region and is not only affordable, but the average rent is also € 2,520 per month, which means a return of up to 21.3%.
The northern border town of Florina has the second highest return at 11.7%, while Karditsa in the heart of the country also currently offers an average return of up to 10%.
Kozani (9.3%), Larissa (8.1%), Cyclades (8%), Magnesia (8%), and Aetolia and Acarnania (8%) also offer some of the strongest returns for those currently in the Greek real estate market want to invest.
In contrast, the current average rental yield in Boeotia is only 3.8%, the lowest yield of any area in Greece.
Astons chief executive Arthur Sarkisian commented:
“The Greek real estate market is extremely diverse not only in terms of lifestyle offerings, but also in terms of the real estate market and the investment opportunities available.
For those who want to make long-term investments, for example through migration investments, the choice of location will be very much geared towards personal factors. However, those looking to invest commercially must consider the returns available, so a more developed region that benefits from high tourism frequency is preferable.
Of course, it’s important to be realistic about why you want to invest. Too often the lines between personal and professional benefit become blurred and this can be harmful. For example, if you want to invest in a property in order to generate a return, using this house as a personal vacation home will have a huge impact on the income generated with it during the main tourist season. “
The current rate of return offered in each area of Greece
|Location in Greece||Average price 2nd quarter 2021||Average rent Q2 2021||Yield%|
|Chalkidiki||142 128 €||€ 2520||21.3%|
|Florina||42,924 €||€ 420||11.7%|
|Karditsa||€ 58,800||€ 488||10%|
|Kozani||€ 58,968||€ 456||9.3%|
|Larisa||82908 €||€ 560||8.1%|
|Cyclades||227 052 €||€ 1518||8th%|
|magnesia||€ 87,360||€ 583||8th%|
|Aetolia & Acarnania||€ 69552||€ 462||8th%|
|Kastoria||€ 58,800||384 €||7.8%|
|Grevena||€ 58 044||379 €||7.8%|
|Samos||€ 73836||€ 480||7.8%|
|Xanthi||€ 73 500||€ 475||7.8%|
|Rhodope Mountains||€ 78036||€ 504||7.8%|
|Trikala||€ 73920||€ 469||7.6%|
|Greenhouses||€ 60,480||382 €||7.6%|
|Lesbos||€ 86,016||€ 543||7.6%|
|Achaia||€ 80640||€ 509||7.6%|
|Ioannina||€ 103,152||€ 614||7.7%|
|Chios||94,836 €||€ 553||7%|
|Heraklion||€ 109 200||€ 630||6.9%|
|Ilia||€ 71 988||€ 402||6.7%|
|Rethymno||124,656 €||€ 693||6.7%|
|Imathia||60,648 €||€ 336||6.6%|
|Euro||€ 97860||€ 531||6.5%|
|Preveza||€ 105,000||564 €||6.4%|
|Pieria||€ 79548||€ 420||6.3%|
|theatre||€ 69972||€ 368||6.3%|
|Phthiotis||80472 €||€ 411||6.1%|
|Pella||€ 64260||€ 328||6.1%|
|Messenia||€ 109,788||€ 556||6.1%|
|Arcadia||€ 92,400||€ 467||6.1%|
|Dodecanese||€ 122892||€ 600||5.9%|
|Piraeus||€ 129360||€ 630||5.8%|
|Kilkis||€ 51,660||€ 247||5.7%|
|Evia||€ 100800||€ 480||0.5.7%|
|Laconia||€ 84,000||€ 392||5.6%|
|Thessaloniki||€ 99,652||€ 465||5.6%|
|Kavala||€ 98028||€ 456||5.6%|
|Corfu||140028 €||€ 646||5.5%|
|Currants||€ 105,252||€ 480||5.5%|
|Lassithi||126,000 €||€ 571||5.4%|
|Athens||€ 164674||€ 702||5.1%|
|Argolis||€ 119 532||€ 504||5.1%|
|Chania||144,564 €||568 €||4.7%|
|Zante||138348 €||€ 520||4.5%|
|Argosaronikos Islands||€ 150 612||€ 556||4.4%|
|Boeotia||116,676 €||373 €||3.8%|
|Greece||€ 129780||€ 619||5.7%|
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