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Real Estate in Athens, Greece | Digital Nomad Exchange
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Crowded Market in Athens, Greece

Real Estate in Athens, Greece

By Joshua Wood, LPC

Last updated on May 09, 2024

Summary: The most desirable neighborhoods in Athens, Greece are Kolonaki, Glyfada, Voula, Vouliagmeni, and Kifissia. The average cost to buy a nice 2 bedroom home in Athens is around $400,000 USD, while a nice 3 bedroom home can cost around $500,000 USD. These properties typically include modern amenities such as air conditioning, central heating, and balconies. Foreigners are allowed to purchase property in Athens, however, they must obtain a permit from the Ministry of Interior. Expats should search for a home to buy in Athens by researching the different neighborhoods and their amenities, as well as by consulting with a real estate agent who is familiar with the area.

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How do I find a place to live in Athens?

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

"One of the best ways to find a place to live in Athens is to use online rental websites such as Airbnb, HomeAway, and VRBO. These websites allow you to search for rental properties in Athens and view photos, descriptions, and reviews of the properties. Additionally, you can contact the property owners directly to ask questions and arrange a viewing. You can also search for rental properties on local classifieds websites such as Craigslist and OLX. Finally, you can contact local real estate agents who specialize in rental properties in Athens," explained one expat living in Athens, Greece.

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

"Expat homes and apartments in Athens are typically modern and spacious, with large windows that let in plenty of natural light. Many apartments have balconies with views of the city, and some have access to a shared pool or garden. Expat homes and apartments are usually well-equipped with modern appliances and amenities, such as air conditioning, Wi-Fi, and cable TV. Many expats also enjoy the convenience of having a concierge service or a doorman," said one person in Athens.

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What is the average cost of housing in Athens?

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

"The cost of housing in Athens can vary greatly depending on the area and type of accommodation. Generally, the average cost of renting an apartment in Athens is around €600-800 per month, while the average cost of buying a property is around €1,500-2,000 per square meter. Prices can be higher or lower depending on the location and size of the property," explained one person living in Athens, Greece.

Should I buy or rent a home in Athens?

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

"Buying a home in Athens can be a great investment, as the city is a popular tourist destination and the real estate market is growing. However, it is important to consider the cost of living in Athens, as well as the cost of purchasing a home. Renting a home in Athens can be a more affordable option, as it allows you to enjoy the city without the long-term commitment of buying a home. Additionally, renting a home in Athens can provide you with more flexibility, as you can move to a different area of the city or even a different city if you choose. Ultimately, the decision to buy or rent a home in Athens should be based on your individual needs and budget," said one expat in Athens.

What do I need to know when buying property in Athens?

When we asked expats what advice they would give a foreigner before buying a property in Athens, they said:

"1. It is important to research the area you are interested in buying property in, to ensure it is a safe and desirable location. 2. It is also important to research the local market to ensure you are getting a fair price for the property. 3. It is advisable to hire a lawyer to help you with the legal aspects of the purchase, such as the title deed and any other paperwork. 4. You should also be aware of any taxes or fees associated with the purchase, such as transfer taxes and registration fees. 5. It is also important to be aware of any restrictions or regulations that may apply to the property, such as zoning laws or building codes. 6. Finally, it is important to be aware of the local customs and culture when buying property in Athens, to ensure you are making a wise investment," said one in Athens.

Are foreigners allowed to own property in Athens?

When we asked expats what advice they would give a foreigner before buying a property in Athens, they said...

"Yes, foreigners are allowed to own property in Athens. There are no specific restrictions on property ownership for non-Greek citizens. However, potential buyers must obtain a tax identification number and open a Greek bank account to complete the purchase. Additionally, they must ensure they comply with all legal requirements and taxes associated with property ownership in Greece. It is advisable for foreign buyers to consult with a local lawyer and real estate agent to navigate the process smoothly," said one person in Athens.

What appliances are typically included in a rental?

We asked foreigners in Athens what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:

"Rental properties in Athens typically include a refrigerator, stove, oven, washing machine, and air conditioning unit. Some properties may also include a dishwasher, microwave, and other small appliances," said one foreigner living in Athens, Greece.

Additional Information about Searching for a Home in Athens:

We asked foreigners in Athens what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...

"Expats searching for homes in Athens often begin by browsing online property listings on websites such as Spitogatos, XE, and GPE360. They may also join local expat forums and social media groups to seek advice and recommendations from fellow expats who have already gone through the process. Additionally, they might consult with local real estate agents who are familiar with the area and can help them find a suitable home based on their preferences and budget. Some expats may also visit neighborhoods in person to get a feel for the area and look for rental signs or contact property management companies directly. Networking with locals and other expats can also be helpful in finding potential housing options that may not be advertised online," said one person in Athens.

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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