image: Mykonos Island in Greece

Hot Property: Why Americans Are Flocking to Greece

by Pamela Price

Greece is the word, and for Americans seeking to acquire property or a second residence abroad, the country is fast becoming one of the most attractive choices. As one of the leading international law firms in Greece notes, “the lifestyle is hard to beat — think relaxed pace of life, incredible climate, beautiful coastlines, and a culture that really values enjoying the moment. It’s that combination of opportunity and quality of life that makes Greece feel less like an investment and more like a second home.

Alexander Varnavas is Managing Partner of the Varnavas Law Firm, based in Athens. He says that Greece’s Golden Visa program is a big draw: “Compared to many other European countries, the investment thresholds are quite accessible, making Greece one of the more attainable entry points into Europe for property buyers. Another option that is proving to be very popular with U.S. nationals is that they can also obtain the Golden Visa by investing in financial investments, such as a time deposit in a Greek bank.”

Alexander Varnavas, Managing Partner at Varnavas Law Firm

Owning a home abroad and relocating overseas are often seen as the same thing, though they’re very different decisions. But Varnavas clarifies that it’s actually pretty evenly split, which might surprise people. “A lot of Americans come in thinking purely from an investment perspective — they’re looking at property in Greece as a smart financial move. But at the same time, they often see it as a kind of 'Plan B.' If the investment qualifies for the Golden Visa, it opens the door to residency, which adds a whole extra layer of value.”

On the flip side, he adds, “there’s a big group of buyers who are really driven by lifestyle. They’re dreaming about spending more time in Greece, or even relocating full-time, whether that’s right away or somewhere down the line. This is especially common with retirees who are drawn to the climate, the culture, and the slower overall pace of life here.”

“Another factor that’s becoming more and more important is flexibility. With everything going on globally, people are thinking about mobility in a way they maybe didn’t before. So in reality, it’s rarely just one thing. It’s usually a mix of investment, lifestyle, and having options for the future.”

Greece’s Golden Visa program still starts at €250,000, Varnavas says, which is one of its biggest draws. “That lower threshold applies in Athens to certain cases, like commercial properties converted into residential units and listed or heritage buildings requiring restoration,” he says, adding that “this option has become popular because it offers real value and a way to qualify without paying the higher price points.”

“For standard residential apartments, the rules depend on the location: in the broader Athens area or in hotspots such as Mykonos and Santorini, the minimum investment is at €800,000. In other parts of Greece that are still desirable but less saturated, the threshold is typically €400,000.”

And there’s more to sunny Greece than Athens, of course. “Mykonos is a favorite for those drawn to the luxury market as it is known for high-end properties and strong rental performance,” Varnvas says. “Then there’s Santorini, which has that instantly recognizable, postcard-perfect appeal and a global reputation that keeps demand high.”

“For buyers who want a bit more space and a more practical, year-round living option, Crete is very attractive. It’s larger, more affordable in many areas, and has solid infrastructure, which makes it easier to actually live there long-term. Corfu also stands out, it’s greener, a bit different in character, and has a strong European feel that many Americans really appreciate.”

For more information, visit varnavas.gr.