Because they’re choosing beauty, value, and a better quality of life.

As prices soar across the U.S. real estate market, Americans are increasingly looking overseas and Greece is rising to the top of the list. With its sun-drenched coastlines, vibrant culture, low cost of living, and relatively accessible property market, Greece offers an irresistible alternative for buyers seeking vacation homes, investment properties, or even a future retirement plan.

A 2024 article by GTP Headlines revealed that American interest in Greek vacation homes jumped by 90% in 2023 alone. The sharp rise is especially visible in areas like Crete, Athens, and the Cycladic islands, where high-net-worth individuals from states like California and New York are snapping up villas and seafront apartments. The report notes that these buyers are drawn not only by lifestyle appeal but also by the investment potential of Greece’s steadily recovering real estate sector. Many are also motivated by remote work flexibility, long-stay visa options, and rising confidence in Greece’s stable economy.

Adding to this appeal is the country’s transparent property regulations for non-EU citizens, low property taxes compared to many U.S. states, and the fact that buyers can often secure luxury homes at a fraction of American coastal prices. Greece’s popularity among global travelers also makes short-term rentals a profitable possibility for investment-minded buyers.

According to a 2024 article by Avax Development, U.S. investors are particularly drawn to Greece’s strategic location within the EU, its tourism-driven rental yields, and the long-term value growth in key cities. The article emphasizes how American buyers see Greece not only as a lifestyle choice but a smart hedge against domestic market volatility.

With world-class scenery, welcoming communities, and the potential for long-term residency through property investment, Greece is no longer just a postcard fantasy for Americans, it’s becoming home.

Affordability of Greek Real Estate Compared to U.S. Property Prices

For many Americans, the idea of owning property in Greece isn’t just a romantic escape, it’s a financially smart move. With U.S. housing prices continuing to climb, especially in major cities, Greek real estate offers an affordable alternative with Mediterranean charm, favorable tax conditions, and access to EU residency options for some buyers. From scenic islands to historic urban neighborhoods, property in Greece is often priced well below even mid-tier U.S. markets.

According to Numbeo, the average price per square meter to purchase an apartment in the city center in Greece is around $2,230, compared to over $5,400 in the United States. Outside city centers, Greek property prices drop even further, hovering around $1,560 per square meter, while the U.S. average remains above $3,300. This stark difference makes Greece one of the most cost-effective destinations for overseas buyers looking to stretch their dollar without compromising lifestyle or location.

Adding to this, Avax Development notes that the Greek market is particularly attractive to U.S. investors due to its potential for long-term growth, favorable rental yields in tourist-heavy regions, and stable legal framework for foreign property ownership.

What also makes Greece stand out is the combination of lifestyle and value. Buyers are not just investing in property; they’re gaining access to a slower pace of life, year-round natural beauty, and proximity to other EU countries. For digital nomads, retirees, and remote workers alike, the affordability of Greek real estate is more than a financial advantage, it’s a lifestyle upgrade.

The Golden Visa Benefit

One of the most appealing advantages for Americans purchasing property in Greece is the residency benefit offered through the Greece Golden Visa program. This initiative allows non-EU nationals who invest a minimum of €250,000 in Greek real estate to obtain five-year renewable residency permits for themselves and their families. It’s one of the lowest investment thresholds in Europe, making it especially attractive compared to similar programs in countries like Portugal or Italy.

This visa is not just a residency permit, it’s a gateway to Europe. Holders can live in Greece (though not required to), travel freely across the Schengen Zone, and enjoy enhanced global mobility. It’s particularly popular with retirees and families seeking security, travel flexibility, and a long-term investment in a growing market.

While the Golden Visa doesn’t grant automatic citizenship, it does pave the way toward permanent residency and potential naturalization for those who meet the long-term requirements.

For a detailed breakdown of eligibility, timelines, and key considerations, read our complete guide to the Greece Golden Visa.

Other Golden Visa Programs In Comparison

Among Europe’s leading residency-by-investment programs, Greece offers the most accessible and affordable real estate-based Golden Visa route, particularly appealing to Americans. With a €250,000 minimum property investment, it remains the lowest among comparable EU nations.

In Portugal, recent reforms have eliminated real estate as a qualifying investment. Now, applicants must invest in approved venture capital funds, starting at €500,000, often with complex risk structures and longer return timelines. 

Italy, on the other hand, does not offer a Golden Visa via real estate at all. Instead, investors must contribute to startups, government bonds, or philanthropic projects. The minimum threshold starts at €250,000 for startups, but approval tends to be slower, and the route to permanent residency and citizenship is more rigid. Additionally, investors must actively manage their investments or contribute to causes that may not offer financial returns.

Greece stands apart by offering full family inclusion, no physical residency requirements, and property rights in one of Europe’s most beautiful and high-potential markets. Investors can buy one or multiple properties to meet the threshold and even rent them out to generate returns.

For those prioritizing low-cost entry, flexibility, and long-term EU access, Greece continues to outperform its counterparts across the board.

The Process of Buying Property for Americans is straightforward

The process of buying property in Greece as an American is relatively straightforward, especially with the right legal and real estate support. You do not need to be a resident or have any prior connection to Greece to purchase property.

The first step is to obtain a Greek tax number (AFM) and open a Greek bank account. Both are essential for property transactions and can be arranged remotely with the help of a local lawyer holding power of attorney.

Once you’ve identified a property either in person or remotely, you’ll sign a preliminary agreement and place a deposit, typically around 10% of the purchase price. Your lawyer then performs legal due diligence to ensure the property is free of debts or encumbrances.

If everything checks out, the final purchase agreement is signed before a notary. The remaining balance is paid, along with applicable taxes and fees (usually around 3–8% of the property price). Ownership is officially transferred and registered with the Land Registry.

Following the purchase, your lawyer can prepare and submit your Golden Visa application, including proof of investment and all required documentation.

The entire process from property selection to visa application submission, can be completed in as little as 60–90 days, even if you're outside Greece during most of it.

Want to dive deeper? Check out our full Guide to the Greece Golden Visa process.

How Immigration Diligence can Help with Your Greece Property Purchase

At Immigration Diligence, we go beyond just advisory; we offer a hands-on approach to guide you through the entire property purchase and Golden Visa process in Greece. From understanding your investment goals to identifying eligible properties, we work with a trusted network of local real estate brokers, legal experts, and notaries who specialize in helping American buyers.

We ensure your journey is seamless, from obtaining a Greek tax number and opening a bank account, to completing legal due diligence and submitting your Golden Visa application. Whether you're looking for a vacation home, rental investment, or a path to EU residency, our team will connect you with vetted professionals who understand the nuances of the Greek property market.

Ready to get started?
Let us help you turn your dream of owning property in Greece into a reality.
Contact us to schedule a consultation or explore your eligibility for the Greece Golden Visa.