Spain or Greece? Where Investors Should Buy in 2025
Ktimatoemporiki Real Estate - 2025-10-11
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Spain or Greece? Where Investors Should Buy in 2025. For years, Spain has been the benchmark for Mediterranean property investment. From the Costa del Sol to Barcelona and Madrid, it has attracted millions of buyers with its lifestyle, infrastructure, and mature real estate market.
But in 2025, Greece has emerged as Spain’s strongest rival. With significantly lower entry prices, booming tourism, and one of the most cost-effective residency programs in Europe, Greece is fast becoming the Mediterranean’s rising star.
So, where should investors put their money in 2025: Spain or Greece? Let’s compare.
Entry Prices: Value vs. Premium
• Greece: Property prices remain far more affordable. Even in hotspots like Crete, Rhodes, or the Cyclades, prime villas and apartments often cost half of what buyers would pay in Spain’s Marbella or Barcelona. The Athens Riviera, despite its luxury surge, still offers better value per square metre than Spain’s Mediterranean coast.
• Spain: Entry prices are higher, particularly in major cities and resort areas. While this reflects Spain’s maturity and demand, it also raises the barrier for first-time investors or those seeking Golden Visa qualification.
Rental Yields: Tourism Power
• Greece: Tourism is breaking records, with 2024 marking all-time highs in visitor numbers. This drives strong rental yields in Athens, Crete, Santorini, Rhodes, and Paros. In many cases, short-term rental returns surpass those in Spain’s saturated markets.
• Spain: Yields remain solid but more compressed in mature markets like Barcelona or Madrid, where regulations on short-term rentals are tightening. Investors face more competition, and returns are steadier rather than spectacular.
Golden Visa: The Residency Edge
• Greece: Offers one of Europe’s most accessible residency-by-investment programs. Thresholds start at €250k for specific restoration projects, €400k in many areas, and €800k for ultra-prime zones. This flexibility makes Greece especially attractive for non-EU buyers seeking EU residency.
• Spain: The Golden Visa program requires a minimum €500k investment in real estate. While it provides stability and prestige, the higher threshold makes it less accessible compared to Greece.
Market Dynamics: Emerging vs. Established
• Greece: Still considered an emerging market in EU real estate, Greece is on a strong upward trajectory. Prices are rising steadily but remain undervalued compared to Western Europe. The combination of limited new supply, high tourism, and infrastructure projects (such as Athens’ Ellinikon and Crete’s new international airport) supports long-term growth.
• Spain: A mature and liquid market with high international demand. Property in Spain is easier to resell due to strong liquidity and global awareness. Growth continues, but at a slower and more stable pace.
Lifestyle and Cost of Living
• Greece: Offers a unique lifestyle mix of island living, historic cities, and a lower cost of living than Spain. Buyers get not only property but also access to a more affordable Mediterranean lifestyle, making it attractive for retirees, digital nomads, and second-home buyers.
• Spain: More cosmopolitan and urbanised, with larger expat communities and stronger infrastructure in cities. While lifestyle appeal is high, costs in Spain’s major hubs are significantly higher than in many parts of Greece.
Risks and Considerations
• Greece: Bureaucracy and construction delays remain challenges, though digitalisation is improving processes. Mortgage rates for locals are higher, but most international buyers purchase in cash.
• Spain: Regulation of short-term rentals and rising taxes in some regions may limit rental profitability. Entry costs are higher, which could cap appreciation in certain areas.
The Verdict
• Choose Greece if you want affordable entry prices, high rental yields, and a cost-effective Golden Visa pathway. Greece is ideal for investors looking for appreciation potential and lifestyle value.
• Choose Spain if you prefer an established, liquid market with consistent growth, easier financing, and global recognition. Spain suits investors prioritising liquidity over affordability.
Conclusion: The Rising Star vs. the Established Giant
Spain remains a powerhouse, but in 2025, Greece is the Mediterranean’s rising star. With a booming tourism economy, lower entry prices, and strong lifestyle appeal, Greece provides a rare mix of value and opportunity.
For investors seeking both financial returns and personal enjoyment, Greece is no longer just an alternative to Spain — it is fast becoming the smarter choice.
But in 2025, Greece has emerged as Spain’s strongest rival. With significantly lower entry prices, booming tourism, and one of the most cost-effective residency programs in Europe, Greece is fast becoming the Mediterranean’s rising star.
So, where should investors put their money in 2025: Spain or Greece? Let’s compare.
Entry Prices: Value vs. Premium
• Greece: Property prices remain far more affordable. Even in hotspots like Crete, Rhodes, or the Cyclades, prime villas and apartments often cost half of what buyers would pay in Spain’s Marbella or Barcelona. The Athens Riviera, despite its luxury surge, still offers better value per square metre than Spain’s Mediterranean coast.
• Spain: Entry prices are higher, particularly in major cities and resort areas. While this reflects Spain’s maturity and demand, it also raises the barrier for first-time investors or those seeking Golden Visa qualification.
Rental Yields: Tourism Power
• Greece: Tourism is breaking records, with 2024 marking all-time highs in visitor numbers. This drives strong rental yields in Athens, Crete, Santorini, Rhodes, and Paros. In many cases, short-term rental returns surpass those in Spain’s saturated markets.
• Spain: Yields remain solid but more compressed in mature markets like Barcelona or Madrid, where regulations on short-term rentals are tightening. Investors face more competition, and returns are steadier rather than spectacular.
Golden Visa: The Residency Edge
• Greece: Offers one of Europe’s most accessible residency-by-investment programs. Thresholds start at €250k for specific restoration projects, €400k in many areas, and €800k for ultra-prime zones. This flexibility makes Greece especially attractive for non-EU buyers seeking EU residency.
• Spain: The Golden Visa program requires a minimum €500k investment in real estate. While it provides stability and prestige, the higher threshold makes it less accessible compared to Greece.
Market Dynamics: Emerging vs. Established
• Greece: Still considered an emerging market in EU real estate, Greece is on a strong upward trajectory. Prices are rising steadily but remain undervalued compared to Western Europe. The combination of limited new supply, high tourism, and infrastructure projects (such as Athens’ Ellinikon and Crete’s new international airport) supports long-term growth.
• Spain: A mature and liquid market with high international demand. Property in Spain is easier to resell due to strong liquidity and global awareness. Growth continues, but at a slower and more stable pace.
Lifestyle and Cost of Living
• Greece: Offers a unique lifestyle mix of island living, historic cities, and a lower cost of living than Spain. Buyers get not only property but also access to a more affordable Mediterranean lifestyle, making it attractive for retirees, digital nomads, and second-home buyers.
• Spain: More cosmopolitan and urbanised, with larger expat communities and stronger infrastructure in cities. While lifestyle appeal is high, costs in Spain’s major hubs are significantly higher than in many parts of Greece.
Risks and Considerations
• Greece: Bureaucracy and construction delays remain challenges, though digitalisation is improving processes. Mortgage rates for locals are higher, but most international buyers purchase in cash.
• Spain: Regulation of short-term rentals and rising taxes in some regions may limit rental profitability. Entry costs are higher, which could cap appreciation in certain areas.
The Verdict
• Choose Greece if you want affordable entry prices, high rental yields, and a cost-effective Golden Visa pathway. Greece is ideal for investors looking for appreciation potential and lifestyle value.
• Choose Spain if you prefer an established, liquid market with consistent growth, easier financing, and global recognition. Spain suits investors prioritising liquidity over affordability.
Conclusion: The Rising Star vs. the Established Giant
Spain remains a powerhouse, but in 2025, Greece is the Mediterranean’s rising star. With a booming tourism economy, lower entry prices, and strong lifestyle appeal, Greece provides a rare mix of value and opportunity.
For investors seeking both financial returns and personal enjoyment, Greece is no longer just an alternative to Spain — it is fast becoming the smarter choice.
