5 Most Affordable Islands to Buy Property in Greece

Greece, one of the top tourist hotspots in Europe, is an attractive destination for property investors, expats, and retirees looking to buy a home. With the rising demand for affordable Greek islands to buy property, many buyers seek budget-friendly real estate that offers a peaceful retreat away from the bustling tourist hubs of Santorini and Mykonos.

If you're considering moving to Greece, investing in a holiday home, or securing a Greek Golden Visa, these five most affordable islands provide excellent opportunities for a smart property investment in paradise.

5. Astypalaia

Located in the Dodecanese islands, Astypalaia is known for its picturesque landscapes and charming architecture. The average property price in Astypalaia was €3,061 per sqm in July 2024, reflecting a 0.29% decrease from the previous year. The highest recorded price in the past two years was €3,238 per sqm in August 2023. If you're looking for a Greek island with lower property prices yet stunning scenery, Astypalaia is a strong contender.

4. Andros

Andros, the northernmost island in the Cyclades, offers affordable property options ranging from €1,000 to €2,500 per sqm. In July 2024, property prices in Gavrio were the highest at €2,455 per sqm, while Korthio had the most affordable properties at €1,056 per sqm. Andros is an excellent choice for those seeking a Greek island home with a lower cost of living and easy access to Athens.

See the following table to consider the price per square meter in comparison to the various areas of Andros island.

3. Kythira

Kythira, located between the Peloponnese and Crete, has been gaining popularity among foreign buyers due to its affordable real estate market. The average property price in July 2024 was €2,398 per sqm, marking a 15.12% increase from the previous year. The highest property prices were in Friligkianika (€3,567 per sqm), while Kontolianika remained the most budget-friendly area at €811 per sqm. If you’re considering buying a house in Greece for retirement or as an investment property, Kythira offers a great balance of affordability and charm.

2. Skyros

Skyros ranks second among the cheapest Greek islands to buy property. In July 2024, the average property price was €2,032 per sqm, reflecting an 18.41% increase from July 2023. The highest peak in the Skyros real estate market was recorded in June 2024 at €2,040 per sqm, while the lowest was in October 2022 at €1,580 per sqm. Known for its relaxed lifestyle, stunning beaches, and traditional Greek charm, Skyros is an excellent choice for expats moving to Greece.

1. Chios

Chios takes the top spot as the most affordable Greek island to buy property. The average property price in July 2024 was €1,570 per sqm, a 21.14% increase from July 2023 (€1,296 per sqm). Over the past two years, the highest recorded price was in July 2024 (€1,570 per sqm), while the lowest was in November 2022 (€1,241 per sqm). Chios offers an unbeatable combination of affordability, rich history, and beautiful landscapes, making it a top choice for investors, retirees, and digital nomads.

Prices are only one part of the picture. Our guide to buying property in Greece as a foreigner walks through the legal steps, and a separate piece covers the common buying mistakes expats run into.

Conclusion

Greece remains a prime location for real estate investment, with affordable island properties offering excellent value for money. Whether you're an investor, a family relocating to Greece, or a retiree looking for a peaceful escape, these five islands provide the best opportunities to buy property in Greece. With increasing demand and rising property values, now is the time to explore these hidden gems and secure your dream home in Greece.

Two practical points before you start. You will need a Greek tax number (AFM) before you can sign anything, and once the purchase completes you will owe ENFIA property tax for every year you hold the property.

How to Find Your Perfect Island Home

Need help choosing the perfect Greek island for your relocation or dream home? We are offering a free 15-minute consultation with Efi Kalogirou, founder of Definitely Greece. Whether you’re looking for a lively town, a peaceful island retreat, or a family-friendly neighborhood, Efi—who also runs a successful travel agency—will provide expert, tailored advice to guide your decision.

Island purchases are harder to check from a distance than mainland ones, which is why we set out why not to buy alone in Greece.

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Written by Chloe Mason, founder of My Greek Expat Journey. Chloe has lived in seven countries and has personally guided 300+ people through Greek residency, tax, property and bureaucracy. More articles by Chloe.