More Germans are considering Greece not just for holidays, but as a place to spend their retirement. Around 30% of foreign buyers assisted by property agency Elxis – At Home in Greece say they want to live there permanently. Among its German prospective buyers, the figure is about one in five, according to Elxis chief executive Giorgos Gavriilidis, speaking to Handelsblatt.
Living costs in Greece are around 20% lower than in Germany, based on calculations by Numbeo and Living Cost. Greece also offers tax incentives to foreign retirees who meet the legal requirements. Demand is strongest in places with services and transport connections that remain available beyond the summer season.
Crete leads German buyers’ regional preferences, accounting for 42.9% of demand recorded by Elxis. The Peloponnese follows at 22.9%, then the Ionian Islands at 21.5% and the Aegean Islands at 12.7%. Crete’s infrastructure, larger towns and medical services are among its attractions. Away from tourist centres, simple existing homes can be found for around €1,800 per square metre, according to agency Ferimmo.
On the Peloponnese, new villas with pools start at about €3,800 per square metre when bought during the planning stage, Elxis says. The region has also benefited from infrastructure investment: Kalamata in the south is around two and a half hours from Athens by the Moreas motorway.
Tax treatment is another consideration. Retirees who move their tax residence to Greece and meet the conditions can apply for a 7% flat income-tax rate for 15 years on their pension and other income earned abroad. Requirements include not having been tax-resident in Greece in five of the six years before the move, and having a relevant tax agreement between Greece and the country of origin. Rules can differ by income type, so the rate should not be treated as a general exemption from tax in the home country.
The purchase and relocation processes require careful legal checks. Documents for changing tax residence must be certified and officially translated into Greek. Lawyers also advise buyers to verify the seller’s ownership rights and ensure the property can be legally transferred, with legal support for the notarial process and registration.
Property prices have risen sharply. Greece’s central bank reports that residential property prices increased by nearly 60% in nominal terms since 2020. In the coastal Athens suburbs of Glyfada, Voula and Vouliagmeni, high-quality new apartments cost between €6,000 and €10,000 per square metre, while good existing properties start at around €4,000.
The Cyclades are also among the most expensive areas: prices on Mykonos reach €12,000 per square metre, and exceptional properties can exceed €20,000. Santorini averages about €7,500. More affordable island options include Naxos, Syros, Andros and Tinos, where prices start at roughly €2,300 per square metre.
Lower-priced existing homes are available elsewhere. On the Peloponnese, prices range from €2,000 to €2,600 per square metre, while properties on the western mainland coast between Preveza and Igoumenitsa are listed at around €1,750 to €2,500. Ferimmo managing director Marios Christodoulou points to the Pilion peninsula as a less-known option, where traditional homes can still be found for under €2,000 per square metre.
Ferimmo says German searches for Greek properties rose 70% over the past two years, while sales to German customers tripled. New holiday homes with pools and gardens averaged €4,675 per square metre in 2025, almost 35% more than in 2022. Buyers seeking a year-round home are also showing interest in smaller new builds of up to 100 square metres, as well as properties with reliable transport, functioning infrastructure and practical winter upkeep.
Sources: Handelsblatt.