Why Israeli and Turkish Buyers Are Betting Big on Greece’s Property Market

A renewed foreign rush: real estate Greece draws Israelis and Turks in 2025

The real estate Greece market is again drawing strong foreign capital, and the pattern is clear: Israeli and Turkish buyers are leading the wave, while Chinese demand softens and Russians retreat. That shift matters for anyone watching housing prices, rental yields or investment prospects in Athens, Thessaloniki and the islands. Our analysis uses recent REMAX Ελλάς data and official figures to explain who is buying, where they are buying and what this means for buyers and investors.

Quick snapshot — the figures that matter

• €8.5 billion: investments into Greek property via the Golden Visa from 2013 to July 2023, per SAEE.
• Expected to exceed €12 billion when pending applications are counted.
• 79,056 foreign investors held valid residence permits by end-2025, up from 48,049 in 2024 (processing backlogs explain part of the jump).
• Only 8% of foreign buyers in 2025 cited the Golden Visa as their main motive for purchase, according to REMAX Ελλάς.
• 57% of foreign buyers leave open the possibility of permanently relocating to Greece.
• 90% used their own funds for acquisitions; 10% took loans.
• Transaction values cluster: 47% of purchases were between €100,001–200,000, and 27% between €200,001–300,000.

These are not abstract shifts. They affect neighbourhood pricing, rental markets and the development pipeline.

Who is buying: a closer look at nationalities and motives

REMAX Ελλάς’s network of 88 offices and 1,200 consultants gives granular visibility into buyer origin and behaviour. The headline: foreign demand has become more diverse and, in some cases, more pragmatic.

Israelis: security, returns and lifestyle

Israeli buyers dominate Attica and Thessaloniki. They are buying across the central city and southern suburbs, from Kolonaki to the Athenian Riviera. Their motives mix investment and safety:

• Many treat property as a yield asset, targeting short-term rental and long-term capital appreciation.
• After the October 7, 2023 attack and the subsequent security concerns, Greece has become an attractive place for Israelis seeking a second home or safe haven.
• Greek residence cards held by Israelis rose from 661 in 2024 to 1,355 in 2025, a 105% increase.
• Bank of Greece reports show capital flows from Israel to Greece rose 46.5% in 2024 to €129 million.

My read: Israeli demand is both emotional and financial. Buyers combine a desire for safety and cultural affinity with a clear focus on return metrics. That dual motive fuels demand for centrally located apartments and coastal luxury properties.

Turks: inflation hedge and wealth preservation

Turkish purchases of Greek property accelerated sharply. The Bank of Greece records €292 million of Turkish investment in Greek real estate in 2024, a 174% increase on 2023 and 380% on 2022. By December 2025 Turks represented 15.9% of Golden Visa investors by headcount.

Typical Turkish buyers are educated, middle to upper-income professionals, often from Istanbul and western Turkey. Their top goals are:

• Protect capital from domestic inflation and currency instability.
• Gain diversified exposure in an EU jurisdiction.
• Buy properties in Attica and Thessaloniki or on major islands.

For Greek sellers and developers, Turkish purchasers are notable because they buy at scale and are willing to pay premiums in preferred suburbs.

Other nationalities: China still first by Golden Visa numbers, but shifting patterns

Chinese investors remain the largest group by Golden Visa issuance, yet REMAX data show their market momentum easing. Meanwhile:

• Iranians, Lebanese and Americans are increasing activity.
• Russians are declining in absolute and percentage terms.
• Americans often buy high-value coastal properties and villas; many move under the Financial Independence Permit rather than the Golden Visa.

These changes mean that buyers’ preferences and price tolerances are more heterogeneous across regions.

Where they buy: regional hotspots and micro-markets

Foreign buyer activity is heavily concentrated, with clear hotspots.

Attica: the top prize

Attica attracts the most foreign interest. Within Athens, demand sits in two broad bands:

• Central Athens neighbourhoods such as Kolonaki, Exarchia, Kypseli, Koukaki and Metaxourgeio, where buyers look for investment apartments and repositioning opportunities.
• The southern suburbs and Athenian Riviera, including Glyfada and Voula, which draw luxury buyers from Israel, Turkey and the U.S.

Developers are responding with both renovation projects and new luxury builds. Note the Golden Visa rule change that sets the minimum investment at €800,000 for Attica properties, with a minimum size of 120 sq.m; that will shape the new-build market.

Thessaloniki: an often-overlooked centre

Thessaloniki is second in foreign interest. Israeli buyers dominate here, followed by Bulgarians, Germans and Turks. Transaction types are mixed: city apartments for rentals, plus family homes in suburbs.

Islands and other regions

Islands still attract second-home buyers and high-net-worth purchases, but rules now make large-scale Golden Visa-driven island deals more expensive. The new threshold applies to islands with populations over 3,100.

Outside big cities and famous islands, Germany, Bulgaria and France appear in REMAX’s data, typically buying for long-stay holidays or rental income.

The Golden Visa changes and how they have reshaped demand

The updated Golden Visa rules are changing incentives. Key points:

• Minimum investment increased to €800,000 in Attica, Thessaloniki and islands with over 3,100 residents; minimum property size 120 sq.m.
• Elsewhere the threshold is €400,000.
• Properties converted from other uses qualify at €250,000 but cannot be used for short-term rentals.

The immediate effect was a drop in new Golden Visa applications. Yet REMAX data show the overall foreign buyer presence is stable, since most buyers now act outside the program. Only 8% say the Golden Visa is their primary motive, which tells you that demand is more investment- or lifestyle-driven than immigration-driven.

From an investor standpoint, that matters: a market less dependent on residency incentives will behave more like a traditional housing market, sensitive to fundamentals such as rental yields, occupancy rates and local supply.

Buyer profiles, property types and price bands

REMAX data reveal a consistent buyer profile and clear preferences:

• Age: 40% are aged 41–50, 27% are 51–60, 16% are over 61, 14% are 31–40, and 3% are under 30.
• Purchase motives: 52% buy a second or holiday home, 30% buy for pure investment (rental/resale), and 10% purchase a primary residence.
• Financing: 90% use own funds; 10% borrow.
• Property types: 38% buy apartments, 27% single-family homes, 20% maisonettes. Only 9% buy land and 3% buy commercial or agricultural plots.
• Condition and size: 78% buy resale homes, 20% new builds, 2% renovated properties. 75% choose units of 61–100 sq.m.
• Price bands: 47% of transactions fall in €100,001–200,000; 27% in €200,001–300,000; 17% in €50,001–100,000.

That profile helps investors prioritise markets. If you’re targeting short-term rental returns in Athens or on islands, focus on 61–100 sq.m apartments in well-located neighbourhoods.