Guide to Renting a Long-Term Property in Greece

Published on May 5, 2026 and written by Cyril Jarnias

Greece, with its rich cultural heritage and enchanting Mediterranean landscapes, is increasingly attracting foreign real estate investors. Whether you wish to diversify your portfolio, generate steady rental income, or simply enjoy a pied-à-terre in this sunny country, long-term rental in Greece can prove to be an interesting option. However, like any investment abroad, it is crucial to thoroughly understand the specifics of the local market and the regulations in force.

In recent years, the Greek real estate market has undergone significant evolution. According to data from the Bank of Greece, property prices have risen steadily since 2018, with a particularly marked increase in major cities like Athens and Thessaloniki. This trend, combined with the country’s tourist appeal, creates a favorable environment for long-term rental investment.

However, before embarking on this venture, it is essential to be well prepared. In this article, we will explore the key aspects of long-term rental in Greece, from finding the ideal property to daily management of tenant relations. Whether you are a seasoned investor or a novice in international real estate, this guide will provide you with the essential information to succeed in your rental project in Greece.

Finding the Gem: Selecting the Ideal Property for Long-Term Rental

The first crucial step to succeeding in your rental investment in Greece is choosing the right property. This choice will not only influence your profitability but also the ease with which you can manage your rental remotely.

Strategic Location: In Greece, as everywhere else, location is king. Urban areas like Athens and Thessaloniki offer strong rental potential, especially for students and young professionals. According to data from Spitogatos, a Greek real estate platform, the average rental price in central Athens reached 14 euros per m² in 2025, while neighborhoods like Moshato showed rates around 13.5 euros per m². These figures testify to the vitality of the rental market in urban areas.

Property Type: Medium-sized apartments (70 to 95 m²) are particularly popular for long-term rental. They offer a good balance between comfort and cost, attracting both families and couples. In tourist areas, properties with a pool and barbecue are highly sought after, even for year-round rentals.

Property Condition: Opt for a property in good condition or ready to rent. Remote renovations can be costly and complicated to manage. If you choose a property to renovate, ensure you have reliable contacts on the ground to oversee the work.

Appreciation Potential: Consider the potential for the property’s value to appreciate over the long term. Developing neighborhoods or those benefiting from new infrastructure projects can offer good investment opportunities.

Local Regulations: Pay attention to local rental regulations. Some areas, particularly in Athens, have recently introduced restrictions on short-term rentals, which can influence your investment strategy.

The Legal Framework: Navigating the Waters of Greek Regulations

Once your property is selected, it is crucial to understand the legal framework governing long-term rental in Greece. Knowledge of the laws and regulations will help you avoid legal pitfalls and establish a healthy relationship with your tenants.

Lease Duration: In Greece, long-term rental contracts are generally concluded for a minimum duration of 3 years. This duration is considered protective for the tenant, ensuring a certain stability. However, it is possible to negotiate longer durations if it suits both parties.

Security Deposit: Greek law allows landlords to request a security deposit equivalent to two months’ rent. This deposit must be returned to the tenant at the end of the lease, provided the property is returned in its initial condition, excluding normal wear and tear.

Landlord Obligations: As a landlord, you are responsible for the structural maintenance of the property and major repairs. This includes plumbing systems, electricity, and heating. It is crucial to clearly define these responsibilities in the lease contract to avoid any future misunderstandings.

Tenant Rights: Tenants in Greece benefit from significant legal protection. For example, they have the right to terminate the lease early with three months’ notice, without penalty, if important reasons (such as a job change) justify it.

Lease Registration: Since 2020, all rental contracts must be registered electronically with the Greek tax authority (AADE). This step is mandatory and must be completed within 30 days of signing the lease.

Taxation: Rental income is subject to tax in Greece. The tax rate varies depending on the amount of income, ranging from 15% to 45%. It is highly recommended to consult a local tax expert to optimize your situation.

The Art of Setting the Right Price: Determining a Competitive and Profitable Rent

Setting the right rent is a delicate exercise that requires a deep understanding of the local market and a careful analysis of your property. A rent that is too high may deter potential tenants, while a rent that is too low could compromise your profitability.

Market Study: Start with a thorough analysis of prices charged in the neighborhood for similar properties. Online real estate platforms like Spitogatos or XE.gr can give you a good overview of local rates. For example, in 2025, the average rent in Athens was about 9.2 euros per m², double what it was in 2015.

Property Features: Objectively assess the strengths of your property. A renovated, well-equipped apartment or one with an exceptional view can justify a higher rent. Conversely, a property needing work or located in a building without an elevator may require a downward adjustment.

Seasonality: In some tourist areas, rents can vary significantly depending on the season. If you opt for year-round rental, you will need to find an attractive middle ground for long-term tenants.

Charges and Taxes: Do not forget to include in your calculation the condo fees, property taxes, and income tax on rental income. These elements will impact your net profitability.

Flexibility: Stay open to adjusting your rent based on demand. A property vacant for several months may justify a downward revision of the requested rent.

Indexation: Include in the contract a clause for annual rent indexation, typically based on the Greek consumer price index. This will allow you to adjust the rent for inflation without having to renegotiate each year.

• Use online tools to compare prices in your neighborhood
• Consult local real estate agents for expert opinions
• Take into account all costs associated with the property to calculate your profitability
• Stay flexible and ready to adjust your price based on the market

The Rental Agreement: The Key to a Smooth Landlord-Tenant Relationship

A well-drafted rental agreement is the cornerstone of a harmonious and hassle-free landlord-tenant relationship. In Greece, as elsewhere, it is crucial to establish a clear and comprehensive agreement that protects both your interests and those of your tenant.

• Identity of the parties (landlord and tenant)
• Detailed description of the rented property
• Lease duration
• Rent amount and payment terms
• Amount and conditions of the security deposit
• Allocation of charges and repairs
• Conditions for lease termination
• Rent indexation clause

Contract Language: Although Greek is the official language, it is recommended to have a bilingual version of the contract (Greek and English) to facilitate understanding for all parties. Ensure that the Greek version prevails legally.

Condition Report: A detailed condition report must be attached to the contract. This document, signed by both parties, will serve as a reference in case of a dispute over the condition of the property at the end of the lease.

Specific Clauses: Depending on the nature of your property, you can include specific clauses, for example regarding the use of common areas, prohibition of subletting, or rules concerning pets.

Insurance: Specify the tenant’s insurance obligations. In Greece, it is common for the tenant to take out home insurance covering rental risks.

Early Termination: Detail the conditions for early termination of the lease, both for the tenant and for yourself. Greek law grants certain rights to the tenant regarding termination; ensure your contract complies with these provisions.

Legal Validation: It is highly recommended to have your contract validated by a lawyer specializing in Greek real estate law. This will ensure that all clauses comply with local legislation and adequately protect your interests.

Managing Remotely: The Art of Maintaining a Positive Landlord-Tenant Relationship

Managing a rental property remotely can seem daunting, but with the right strategies and tools, it is entirely possible to maintain a positive relationship with your tenants while ensuring effective management of your investment.

Regular Communication: Establish clear and regular communication with your tenants from the start. Use tools like WhatsApp, Skype, or Zoom for quick exchanges and video conferences if necessary. Proactive communication can prevent many problems.

Local Representative: Consider appointing a local representative, whether it is a trusted friend, a family member, or a real estate professional. This person can intervene quickly in case of urgent problems and serve as an intermediary with local tradespeople.

Professional Management: If your budget allows, using a property management agency can greatly simplify your life. These professionals handle all aspects of the rental, from tenant selection to managing repairs. According to industry data, management fees in Greece generally range between 8% and 12% of the monthly rent.

Preventive Maintenance: Schedule regular maintenance visits to prevent major problems. This can include checking heating systems before winter or inspecting roofs before the rainy season.

Online Payments: Set up an online payment system to facilitate rent collection. Platforms like TransferWise (now Wise) or PayPal can be useful for international transfers.

Digital Documentation: Keep all important documents (lease contract, invoices, correspondence) in a secure cloud. This will allow you to access them easily when needed, wherever you are.

Respect for Local Culture: Familiarize yourself with local customs and practices regarding rentals. For example, in Greece, it is common to offer a small welcome gift to new tenants, such as a bottle of local olive oil.

• Establish a schedule for regular communication with your tenants
• Have a trusted local contact for urgent interventions
• Use digital tools to facilitate remote management
• Respect local traditions to strengthen the relationship with your tenants

Taxation and Legal Obligations: Navigating the Waters of Greek Bureaucracy

Managing a rental property in Greece involves complying with various tax and legal obligations. A good understanding of these aspects is essential to avoid penalties and optimize your investment.

• Up to €12,000: 15%
• From €12,001 to €35,000: 35%
• Above €35,000: 45%

Greek Tax Number: As a foreign owner, you must obtain a Greek tax identification number (AFM). This number is essential for all real estate and tax transactions in Greece.

Property Tax (ENFIA): This annual tax is calculated based on the property’s value, location, and various other factors. Its amount can vary significantly, so it is important to include it in your profitability calculations.

VAT on New Constructions: Since 2020, a 24% VAT applies to new constructions. However, this tax can be suspended for the first three years if the property is used as a primary residence.

Declaration of Rental Contracts: All rental contracts must be declared electronically to the Greek tax authority (AADE) within 30 days of signing. Failure to comply with this obligation can result in fines.

Withholding Tax for Non-Residents: If you are not a tax resident in Greece, a 15% withholding tax may be applied to your rental income. Check the tax treaty between Greece and your country of residence to avoid double taxation.

Insurance Obligations: Although not mandatory, it is highly recommended to take out non-owner-occupied property insurance. Some condominiums may also require specific insurance.

Energy Performance Certificate: Since 2021, all properties put up for rent must have an energy performance certificate. This document must be provided to the tenant before signing the lease.

Optimizing Your Investment: Strategies to Maximize Profitability

Investing in rental real estate in Greece can be an excellent opportunity, but to maximize your profitability, it is essential to adopt a strategic and thoughtful approach.

Target High-Potential Areas: Focus on booming regions. For example, central Athens has experienced strong appreciation in recent years, with rental prices reaching 14 euros per m² in 2025. Developing neighborhoods can offer good investment opportunities at more affordable prices.

Portfolio Diversification: Don’t put all your eggs in one basket. Consider investing in different types of properties or in different regions to spread risk. For example, combine a downtown apartment with a vacation home in a tourist area.

Strategic Renovations: Targeted renovations can significantly increase the rental value of your property. Focus on improvements that have the most impact, such as modernizing the kitchen or bathroom. According to industry experts, these renovations can increase rental value by up to 20%.

Energy Efficiency: Investing in the energy efficiency of your property can not only attract environmentally conscious tenants but also reduce long-term operating costs. Additionally, a good energy performance certificate can justify a higher rent.

Seasonal vs. Long-Term Rental: Carefully evaluate the pros and cons of seasonal rentals versus long-term rentals. Although seasonal rentals can generate higher income during peak season, they also involve more management and potential periods of vacancy.

Tax Optimization: Consult a tax expert to explore legal tax optimization opportunities. For example, certain expenses related to your property may be deductible from your rental income.

Market Monitoring: Stay informed about trends in the Greek real estate market. Prices and conditions can change quickly, and a good knowledge of the market will help you make informed decisions.

Tenant Retention: A satisfied and stable tenant is a valuable asset. Consider offering incentives for long-term leases or lease renewals, such as a free month’s rent or minor housing improvements.

• Target areas with high growth potential
• Diversify your portfolio to spread risk
• Invest in strategic renovations to increase rental value
• Optimize the energy performance of your property
• Carefully evaluate seasonal vs. long-term rental options
• Consult a tax expert to optimize your situation

Long-term rental in Greece offers great opportunities for savvy investors. By understanding the specifics of the local market, meticulously complying with legal and tax obligations, and adopting a strategic approach to managing your property, you can create a profitable and sustainable investment. Remember that every decision, from property selection to setting the rent, and from daily management to tenant retention, plays a crucial role in the success of your project.