What the model says for common briefs
Ten-year hold, 5% a year base-case appreciation (the Bank of Greece index shows Attica up 71.1% over 2017–2025, about 6.9% a year; we use 3%, 5% and 7% as conservative, base and strong), all-in entry costs of about 8.7%, net rent after management, vacancy, ENFIA, maintenance and Greek income tax. Budget means total outlay including costs. Ranges reflect the Monitor price and yield bands. Indicative, not a forecast.
€700,000 in Glyfada, long let
Buys a property of about €644,000 (64–184 m² at €3,500–€10,000/m²) after roughly €56,000 of costs. Rent €2,700–€3,100 a month gross; net yield about 3.0–3.4% after costs and tax. Ten-year value in the base case about €1.05M. Total ten-year return €541,000–€566,000, roughly 5.9–6.1% a year all-in. Golden Visa: no, the price is below the €800,000 Attica tier. Short let: allowed, no freeze on the Riviera.
€700,000 in Glyfada, short let with an AMA
Same property; rent €3,200–€4,300 a month gross in season, net yield about 2.5–3.5% after 20% management, 12% vacancy, compliance and tax. Total ten-year return €513,000–€574,000, roughly 5.7–6.2% a year. The short-let premium is real but thinner than the gross numbers suggest.
€300,000 in Kalamata, long let
Buys about €276,000 of property, 86–197 m² at €1,400–€3,200/m², the cheapest coastal entry BUY GREECE tracks. Rent €1,250–€1,500 a month; net yield about 3.5–4.1%. Ten-year value about €450,000; total return €245,000–€264,000, roughly 6.2–6.5% a year. Golden Visa: not at this budget; €400,000 is the tier for Messinia. Short let: allowed.
€500,000 in central Athens: frozen district versus just outside it
In Plaka, Koukaki, Kolonaki or Pagrati the only legal strategy for a buyer is a long let: rent €1,150–€1,900 a month, net 1.6–3.0%, total ten-year return €325,000–€387,000 (5.1–5.9% a year). The same €500,000 in Kypseli, Zografou or Kallithea, where an AMA is obtainable, runs a short let at €2,300–€3,800 a month, net 2.6–4.5%, total €367,000–€459,000 (5.7–6.7% a year). The freeze is worth about a point a year.
€1,000,000 in Mykonos, short let
About €920,000 of property, 51–123 m² at €7,500–€18,000/m². Season rent €4,600–€6,100 a month averaged across the year; net 2.5–3.3%. Ten-year value about €1.5M; total return €726,000–€801,000, roughly 5.6–6.1% a year. Golden Visa: yes, above the €800,000 island tier. Short let: allowed.
€450,000 in Nafplio Old Town, boutique short let
About €414,000 of restored listed house, 75–138 m² at €3,000–€5,500/m². Rent €2,100–€3,100 a month; net 2.6–4.1%. Ten-year value about €675,000; total return €331,000–€394,000, roughly 5.7–6.5% a year. Golden Visa: yes, above the €400,000 Argolida tier, and the €250,000 listed-restoration route applies here. Short let: allowed, year-round demand.
€1,500,000 in Vouliagmeni, long let
About €1.38M of property, 77–173 m² at €8,000–€18,000/m², the mainland coast's price ceiling. Rent €4,600–€5,800 a month; net 2.0–2.5%. Ten-year value about €2.25M; total return €1.03M–€1.10M, roughly 5.4–5.6% a year. This is a capital-preservation address, not a yield play. Golden Visa: yes. Short let: allowed.
How the model works, and where it stops
Price bands and gross yields come from the BUY GREECE Greek Property Monitor (Q3 2026) where they exist; a few areas are marked indicative until the Monitor publishes them. Entry costs are transfer tax 3.09%, notary 1.25%, legal 1.25%, cadastre 0.6% and broker 2% plus VAT, about 8.7% all-in; new builds currently pay transfer tax because 24% VAT is suspended to 31 December 2026. Long lets deduct one month of management, 6% vacancy, ENFIA and maintenance; short lets deduct 20% management, 12% vacancy, Law 5170/2025 compliance and the same holding costs. Greek income tax is applied progressively at 15%, 25%, 35% and 45%. Appreciation scenarios are 3%, 5% and 7% a year compounded; the Bank of Greece Attica index averaged about 6.9% a year over 2017–2025, which is why 5% is the base case and not the ceiling. Capital gains tax on resale by individuals is suspended to 31 December 2026 and is not deducted; if it returns at 15% after that, the ten-year totals fall accordingly. The Golden Visa flag applies Law 5100/2024 tiers to the property price, not the budget. The short-let flag applies the Athens 1st–3rd district and central Thessaloniki freezes and the rule that an AMA does not transfer on sale. The model does not know the specific asset, its energy class, its floor, its view or its building; those move the number in both directions, and they are exactly what BUY GREECE checks before you commit.
Questions buyers ask about returns in Greece
What is a realistic net rental yield in Greece?
After management, vacancy, holding costs and Greek income tax, most well-bought properties land at 2.5–4.5% net. Gross figures of 6–10% are real for short lets where an AMA is obtainable, but the net is what reaches your account.
Does the calculator include the Golden Visa?
Yes. It applies the Law 5100/2024 tier for the area you choose (€800,000 in Attica, Thessaloniki, Mykonos, Santorini and the larger islands; €400,000 elsewhere) to the property price implied by your budget and tells you whether the purchase qualifies.
Why does it say short lets are not available in central Athens?
New AMA registrations are frozen in Athens' 1st, 2nd and 3rd municipal districts through at least 31 December 2026, and an AMA is issued to the owner, not the property, so it does not transfer on sale. A buyer there should underwrite a long let. Outside those districts the short-let option switches on.
Is this financial advice?
No. It is an indicative model built on published bands and stated assumptions, free to use and free to cite under CC BY 4.0. Real returns depend on the specific asset and on rules that change; confirm with BUY GREECE and your own advisers before committing capital.
Published by BUY GREECE LLC, the US real estate company with offices in Chicago, Illinois and Glyfada, Athens. Reviewed by Kirill Samarits, Founder and CEO. Data: BUY GREECE Greek Property Monitor Q3 2026 and the Bank of Greece residential property price index; legal parameters per Law 5100/2024, Law 5170/2025 and the Greek property law tracker. Model version 1.0, August 2026.
