What rental yield can you expect from an Athens apartment? How to work out the real return
Athens apartment rental yield 2026: about 3–6% gross, 2.4–3.4% net after costs and tax in our worked example.
Short answer: About 3–6% gross, and much less net. Athens Riviera long lets earn 5.1–5.8% gross on BUY GREECE® network comparables (about 3–4% on area-average asking prices), central Athens long lets 3–5%, and short lets 6–10% where an AMA can be obtained (Greek Property Monitor, Q3 2026). After management, vacancy, running costs and Greek tax, the worked examples below net about 2.4–3.4%.
Here is how to get from the headline figure to the number that reaches your account. Yields come from the BUY GREECE® Greek Property Monitor, Q3 2026, unless another source is named.
What gross rental yield does each Athens area earn?
| Area | Strategy | Gross yield (indicative) |
|---|---|---|
| Central Athens outside the freeze (for example Kypseli, Zografou, Kallithea), with a valid AMA | Short let | 6%–10% |
| Central Athens, frozen 1st–3rd communities (Plaka, Koukaki, Kolonaki and others) | Long let only | 3%–5% |
| Athens Riviera (Glyfada, Voula, Vouliagmeni, Varkiza) | Long let or seasonal short let | 5.1%–5.8% (network comparables); about 3–4% on area averages |
| Northern suburbs (Kifisia, Chalandri) | Long let | About 4.0% (area average) |
| West Athens (Peristeri) | Long let | About 4.9% (area average) |
Gross, before costs and tax. Area averages are our calculation from Spitogatos Q2 2026 asking prices and rents. Check any central address street by street against the 1st–3rd community boundaries.
New AMA registrations are frozen in Athens' 1st, 2nd and 3rd municipal communities through 31 December 2026, and an extension to the end of 2027 was announced in September 2026. In those communities the AMA is cancelled on sale, so a buyer there should underwrite a long let, whatever the seller was doing.
What costs come off the gross yield?
Typical deductions (BUY GREECE® estimates unless a source is given):
- Management. Short-let managers take 15–25% of revenue; long-let agents charge roughly one month's rent a year.
- Vacancy. Budget 10–15% for short lets and 4–8% for long lets.
- ENFIA. Annual property tax, typically a few hundred to a couple of thousand euros for a city apartment.
- Maintenance and building charges. Koinochrista (shared building costs) plus repairs; 1–2% of rent collected is a fair reserve.
- Compliance. Short lets under Law 5170/2025 need fire equipment, an electrical certificate, liability insurance and pest certification: roughly €800–1,500 up front and €300–600 a year for a typical apartment. Guests also pay the climate resilience fee of €8 a night from April to October (€2 from November to March).
- Income tax. Rent is taxed at 15% to €12,000, 25% from €12,001 to €24,000 (from the 2026 tax year), 35% from €24,001 to €36,000 and 45% above €36,000. An individual is taxed on the rent received less a flat 5% for repairs (Art. 39 par. 3 Income Tax Code); management and other running costs are not deducted.
What does an Athens apartment net after costs and tax? A worked example
Take a €300,000 two-bedroom apartment in Kypseli, outside the frozen districts (check the street address against the 1st–3rd community boundaries), with a valid AMA in your name.
- Gross short-let income at 8%: €24,000.
- Less management at 20%: −€4,800. Less vacancy at 12%: −€2,880. Less ENFIA, building charges, compliance and maintenance: −€2,300.
- Net before tax: €14,020, or 4.7%.
- Income tax on the €21,120 of rent received, less the 5% repair deduction (15% on the first €12,000, 25% on the rest): −€3,816.
- Net after tax: about €10,204, or 3.4%. Confirm the tax with a Greek accountant.
Now run the same money as a long let in Koukaki at 4% gross (€12,000). Management −€1,000, vacancy −€600, costs −€1,500 and tax −€1,625 (15% of the rent received less 5%) leave about €7,275, or 2.4% net.
The long let takes far less work and carries no short-let regulatory risk. That gap is the whole short-let argument in one line, and it only exists where an AMA can be obtained.
How can you raise the yield on an Athens apartment?
- Buy outside the freeze if short-let income is the plan. The 1st–3rd communities are closed to new AMAs through 2026, and a seller's AMA does not come with the flat. The Riviera, the northern and western suburbs and the islands are open.
- Buy below €3,000/m² where rents are above €14/m² (our rule of thumb). For reference, Spitogatos puts average asking rents in the southern suburbs at €13.3/m² a month in Q2 2026. Kypseli, Zografou and Kallithea still clear that bar in our comparables; Kolonaki does not.
- Mind the energy class. A- and B-rated homes rent faster and keep tenants longer; older stock needs a renovation budget you should price in.
- Hold for the appreciation too. Attica prices are up 71.1% from 2017 to 2025 (BUY GREECE® analysis), so yield is only part of the return.
Frequently asked questions
What is a good rental yield in Athens?
Above 5% gross is healthy for a long let, and 7% or more gross on a short let with a valid AMA is strong. For reference, the BUY GREECE® Greek Property Monitor (Q3 2026) puts the Athens Riviera at 5.1–5.8% gross on network comparables, against about 3–4% on area-average asking prices. Net returns are much lower once management, vacancy, running costs and tax are paid.
What net rental yield does an Athens apartment make after costs and tax?
About 2.4–3.4% in the worked example above. An 8% gross short let in Kypseli nets about 3.4% after management, vacancy, running costs and tax, while a 4% gross long let in Koukaki nets about 2.4%. The gap exists only where an AMA can be obtained, which rules out the frozen central districts.
Is short-term rental still legal in Athens in 2026?
Yes, with an AMA registration and Law 5170/2025 compliance. New registrations in Athens' 1st–3rd municipal communities are frozen through 31 December 2026, and an extension to the end of 2027 has been announced. In those communities the AMA is cancelled on sale, so buyers there should plan on a long let; elsewhere, registration remains open.
How is rental income taxed in Greece in 2026?
Progressively, at 15% to 45%, from the 2026 tax year (Law 5246/2025). The bands are 15% up to €12,000, 25% to €24,000, 35% to €36,000 and 45% above, with no tax-free allowance. US owners also report the rent at home and can claim a foreign tax credit. A Greek accountant confirms the figures for your case.
Which Athens areas give the best rental return?
For short lets, districts outside the freeze with a valid AMA, such as Kypseli, Zografou and Kallithea, can reach 6–10% gross. For long lets, the Athens Riviera returns 5.1–5.8% on network comparables and the frozen centre about 3–5% (BUY GREECE® Greek Property Monitor, Q3 2026). The northern suburbs average about 4.0% (Spitogatos, Q2 2026, our calculation).
What to check before you buy an Athens apartment to rent out
- Compare neighbourhood yields. Our Athens rental yield 2026 guide sets BUY GREECE® figures and public area averages side by side, district by district.
- Check the short-let rules, then run your own numbers. Read Greek short-term rental rules: AMA, the 60-day rule and the Athens freeze, and test your budget in the ROI calculator.
- Get the numbers run on real candidates. Brief BUY GREECE® with your budget and we will model the return on actual listings.
About this guide
Published by BUY GREECE LLC, the US real estate company with offices in Chicago, Illinois and Glyfada, Athens. Reviewed by Kirill Samarits, Founder & CEO. Yields follow the BUY GREECE® Greek Property Monitor, free to reuse under CC BY 4.0. Indicative, not a forecast; not tax advice. Corrections: contact BUY GREECE®.
Reference pages from BUY GREECE®, updated on a schedule and free to cite under CC BY 4.0:
Prices by region, rental yields and Golden Visa tiers, refreshed every quarter: Greek Property Monitor (prices, yields, Golden Visa tiers, quarterly)
Every Greek property rule change that affects buyers, dated and reviewed monthly: Greek property law tracker (every rule change, dated, monthly)
The full purchase process, the cost stack and where to buy: How do you buy property in Greece? The costs, the steps and the best areas
Model the return on a specific budget in a specific area, free and without signing up: Greek property ROI calculator (what your budget earns, by area, in rent and value)
