Rental investment profitability is about getting the highest rent with the minimal property cost. Athens is both one of the most touristic cities in Europe and its cheapest property market.

Athens is the only place in Europe where you get affordable real estate and high touristic Airbnb demand, offering ~20% rental yields that are nearly impossible to get anywhere else in the world.

Athens is ranked second among 18 European cities, with 53 percent of its properties on the market for short-term rental managed by a professional or real estate sector investor.

Athens is the country’s tourist capital, thanks to its well-preserved cultural heritage and comfortable climate. According to the Greek Tourism Confederation (SETE), in 2016, the capital attracted every third international tourist to the country, which is 1.5 times more than the second-most popular city, Heraklion.

According to SETE, the number of international tourists visiting Athens almost doubled between 2012 and 2016, growing from 2.6 million to 4.5 million.

We recommend investing in rental residential real estate, as Greece will keep attracting tourists regardless of its GDP dynamics. Office, retail or warehousing properties are more dependent on the state of the economy, which still needs time to completely recover from the 2008 crisis.

An easy way into the market is to buy a flat that is ready for tourist lease. One of the advantages of Athens is that, unlike Berlin or San Francisco, the Greek market for rental residential property is loosely regulated.

Obtaining a tourist license is enough to have the right for short-term property lease. This document is issued for 5 years and usually costs €3,000-5,000, while extensions are significantly cheaper.

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