How to Assess an Athens Property Investment

Evaluate the property and the residence permit as two related decisions. A home can meet an immigration threshold without being the best investment for your budget. Compare its price, condition, location and ownership costs with alternatives before placing a reservation.

What rental return should I expect?

Use evidence for the exact property: comparable long-term rents, occupancy assumptions, management charges, tax, repairs and vacancy. Gross yield is annual rent divided by purchase price; net return deducts costs and should account for the full amount invested. Neither a city average nor past price growth predicts your return.

What are the ongoing ownership costs?

Budget for annual property tax (ENFIA), building charges, maintenance, insurance, utilities, accounting and any management fees. Rental income may generate Greek tax obligations even while you live abroad. A vacant property still has running costs. Ask for an annual budget for the particular unit.

Is a developer rental guarantee backed by the government?

No. It is a private contractual promise, if offered. Check the payer, duration, payment schedule, exclusions, security and remedies for default. Ask whether quoted income is gross or net and what happens after the contract expires. The Golden Visa does not insure your rent or capital.

Test a less favourable scenario

Consider a lower rent, several months of vacancy, a repair bill and a longer resale period. Ask whether you could still cover the costs without the projected income. Price appreciation, liquidity and occupancy are not guaranteed by the residence programme.

Can I sell and keep my residency?

To maintain the investment basis without interruption, first complete a new qualifying investment, then notify the competent authority so its eligibility can be verified before disposing of the original property. A sale without a qualifying replacement affects the investor and dependent permits. Restoration properties have additional restrictions before completion.

Can my buyer reuse the €250,000 conversion route?

Once the special conversion benefit has supported a permit, an ordinary resale of that residence cannot reuse the same €250,000 benefit. The buyer would need to satisfy the standard route’s applicable value and other criteria, including size. Increasing the price alone will not make a small apartment eligible. Other conversion/restoration histories require individual review.

Before committing, request the title review, technical evidence, itemised costs and the terms of any rental or management contract. Keep estimated figures separate from binding commitments.