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Real Estate in Santorini, Greece | Digital Nomad Exchange
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Real Estate in Santorini, Greece

By Joshua Wood, LPC

Last updated on Oct 13, 2024

Summary: Expats and retirees talk about real estate in Santorini, Greece? How do you find a home in Santorini? Should you buy or rent? What is the cost of housing?

William Russell
William Russell
William Russell
William Russell

How do I find a place to live in Santorini?

We asked expats how they chose their neighborhood and found a place to live. They answered:

"Finding a place to live in Santorini, involves several steps. First, you need to determine your budget and the type of accommodation you're looking for. This could range from a small apartment to a larger house or villa. Next, you should research the different areas of Santorini to decide where you'd like to live. Some popular areas include Fira, Oia, and Kamari. Each area has its own unique charm and amenities, so it's important to choose a location that suits your lifestyle and needs. Once you've decided on a location, you can start searching for available properties. There are several online platforms where you can find listings, such as HomeGreekHome, Spitogatos, and Airbnb for short-term rentals. These platforms allow you to filter your search based on your preferences, such as the number of bedrooms, price range, and amenities. In addition to online searches, you may also want to consider hiring a local real estate agent. They can provide valuable insight into the local market, help you negotiate prices, and guide you through the process of renting or buying a property in Greece. Once you've found a property you're interested in, you'll need to arrange a viewing. This is an important step, as it allows you to assess the condition of the property and its surroundings. If you decide to proceed with the property, you'll need to negotiate the terms of the lease or purchase agreement. This will include the price, the duration of the lease (if renting), and any other conditions. Finally, once the agreement is signed, you'll need to arrange for utilities and services such as electricity, water, and internet. This may require setting up accounts with local providers. Remember, moving to a new country can be a complex process, so it's important to do your research and seek professional advice if needed," remarked one member in Santorini.

What is a typical expat home or apartment like in Santorini?

"A typical expat home or apartment in Santorini, often reflects the traditional Cycladic architecture of the island. It is usually a white-washed structure with smooth-edged forms, blue-domed roofs, and arched doorways. The interior is often minimalist, with a blend of modern and traditional Greek decor. The living area is usually spacious, with a comfortable seating area and a fireplace for the colder months. The kitchen is typically equipped with modern appliances, and often includes a dining area. Bedrooms are usually cozy, with built-in beds and wardrobes, following the traditional island style. Bathrooms are often compact and functional, with modern fixtures. Many expat homes or apartments in Santorini feature a private terrace or balcony, offering breathtaking views of the Aegean Sea and the island's famous sunsets. Some may also have a small garden with local plants like bougainvillea and olive trees, or even a private pool. Despite the traditional exterior, these homes often come with modern amenities such as air conditioning, Wi-Fi, and satellite TV. They are usually located within walking distance to local shops, restaurants, and the beach, offering a blend of convenience and tranquility," said one expat who made the move to Santorini.

What is the average cost of housing in Santorini?

If you are thinking about moving to Santorini, cost of living in probably a key consideration. Expats commented about the cost of housing:

"The average cost of housing in Santorini can vary greatly depending on the location and type of property. For a typical one-bedroom apartment in the city center, you might expect to pay around €800 to €1,000 per month. If you're looking to buy, prices for a standard apartment start at around €200,000. Luxury villas with a view of the caldera can cost several million euros. However, these prices can fluctuate based on the real estate market and other factors," said one expat who made the move to Santorini.

Should I buy or rent a home in Santorini?

If you have not spent a lot of time in Santorini, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:

"The decision to buy or rent a home in Santorini, largely depends on your personal circumstances, financial situation, and long-term plans. If you plan to stay in Santorini for a long period or frequently visit, buying a home could be a good investment. Owning a property in Santorini can also provide a potential source of income through vacation rentals when you're not using it. However, buying a home involves a significant financial commitment and comes with additional costs such as maintenance, insurance, and property taxes. It also requires a long-term commitment, as selling a property can take time and may not always be possible at a profit. On the other hand, renting a home in Santorini offers more flexibility. It's a good option if you're planning a shorter stay or if you prefer not to have the responsibilities and costs associated with owning a property. Renting can also allow you to live in different areas of the island before deciding where you'd like to settle. In conclusion, both buying and renting have their pros and cons. It's important to carefully consider your financial situation, lifestyle, and future plans before making a decision. Consulting with a real estate professional or financial advisor can also be helpful in making an informed decision," said one person in Santorini.

About the Author

Joshua Wood Joshua Wood, LPC is one of the Founders of Digital Nomad Exchange and serves as Co-President of Expat Exchange. Prior to Expat Exchange and Digital Nomad Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.

Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.

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Get a quote for international health insurance from our partner, William Russell.
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