Crete, Corfu, Rhodes, the Cyclades and Halkidiki compared: price bands, border-zone permits for non-EU buyers, tourist rental registration (AMA) and how the season shapes returns.
Searches for "property in Crete" or "house on a Greek island" usually come from buyers who want a holiday home with some rental income. The islands are not one market. Crete is large, with year-round towns and an international airport; the Cyclades are small, expensive and seasonal; Corfu and Rhodes sit in between; Halkidiki is a mainland peninsula with a beach-resort economy. Rules also differ: some areas need extra permits from non-EU buyers. This guide compares the main destinations. Price ranges are asking prices from agents and portals as of October 2026 and are indicative.
Price bands
Our price guide quotes about EUR 2,000-4,000 per m2 for Crete and EUR 5,000-12,000 or more for the Cyclades (one agent source, asking prices). For Corfu, Rhodes and Halkidiki we could not find a reliable per-m2 figure, so we do not give one: ask agents for recent comparable sales in the exact village. In general, the closer to a famous beach, a harbour town or a caldera view, the higher the price. Inland villages and older stone houses are far cheaper but often need a full renovation and a clean title (see abandoned stone houses and the resale checklist).
The destinations
Crete has the most year-round life: Chania, Rethymno and Heraklion have shops, hospitals and an all-year population, so long-term renting is possible next to holiday rentals. Heraklion is reported to have higher yields than the Cyclades, though the figures come from aggregator sources, so treat them as claims.
Corfu is green, close to the Balkans and Italy, and popular with European buyers for villas and renovated houses. Rhodes is in the Dodecanese, which is a border zone (see below), with an old town, a large tourist industry and a long season.
The Cyclades (Mykonos, Santorini, Paros, Naxos, Syros) command the highest prices and the sharpest seasonality. Mykonos and Santorini also carry the highest golden-visa threshold (see Greece golden visa). Halkidiki, near Thessaloniki, is a mainland holiday region with a short, intense summer season; it is covered more fully in our Thessaloniki and northern Greece guide.
Border zones and permits for non-EU buyers
Greece designates border areas where a non-EU/EEA buyer needs a special permit before buying. As reported by law-firm and agent summaries (no official page opened), the list under Law 1892/1990 covers the Dodecanese (including Rhodes), Lesvos, Chios, Samos, Limnos, Samothraki, Santorini, Skyros and a number of mainland border regions. The permit is issued by a committee in which the Ministry of Defence has a say. Timelines are quoted as anywhere from 4-8 weeks to 3-6 months, and the file needs a topographical plan and apostilled documents. We could not confirm whether specific parts of Crete, Corfu or Halkidiki fall inside the zone, and we did not confirm what applies to EU citizens. Ask a Greek lawyer to check the exact plot before you pay a deposit, and make the permit a condition of the preliminary contract.
Tourist rental, AMA and the season
Short-term letting needs registration in the national short-term rental registry and an AMA number, and you must comply with tax and safety rules. New AMA registrations are frozen in parts of Athens and Thessaloniki; reports say more areas (for example Santorini, Paros, Chania, Halkidiki) may be added, but we could not confirm this. Check the current status for your island and read short-term rental rules in Greece. A bought property may not inherit the seller's AMA in restricted zones.
The season sets the numbers. National short-term occupancy was reported at about 41% in 2026, with the busiest areas of Mykonos and Santorini reported at around 53-54%, and income is concentrated between May and October. Yields on the islands are reported in wide bands (about 4-8% gross in agent claims for Crete and Corfu) and are not guaranteed; see rental yield and investment in Greece. Rental income is taxed on a progressive scale reported as 15-45%.
Costs and a sensible due-diligence order
Add about 7-12% of the price for transfer tax (around 3.09%), notary, land registry, lawyer and agent. A 15% transfer tax for non-EU buyers without long-term residency from July 2027 has been announced, but we found no enacted law. Before you pay: check title and cadastre registration, whether the plot is buildable, the building permit and any unauthorised extensions, and access, water and sewage. Many rural properties on islands have title or planning gaps.
For Russian-speaking buyers
On Crete, Rhodes and Corfu you will find Russian-speaking agents, lawyers and property managers, which helps with site visits and paperwork; still use an independent lawyer who is not paid by the seller. Typical documents are a passport, a Greek tax number (AFM), a Greek bank account, proof of the source of funds and apostilled papers for purchases by proxy. Banks and notaries run lawful identity and anti-money-laundering checks, which can take time for transfers from certain countries; prepare the documents before you reserve a property.
FAQ
Can non-EU citizens buy on Greek islands? Yes, but in border zones a permit is required. Which islands are in the zone must be checked for the exact plot.
Is Crete cheaper than the Cyclades? Reported asking prices are, in general, much lower on Crete than on the Cyclades, though prime seafront on Crete can also be expensive.
Can I rent out a house on Crete to tourists? Yes, with registration and an AMA number, plus tax compliance. Check any local freeze before you buy.
How long is the rental season? Mostly May to October on the islands, longer on Crete and Rhodes, and shorter on small Cyclades.
Do I need a Greek bank account? Practically yes, for the purchase, taxes and utilities.
How we help
We are a trilingual platform (English, Russian, Polish) that finds properties and coordinates independent local lawyers and tax advisers. You can browse listings in Greece and use our calculators. This text is informational and is not legal, tax or investment advice; verify current rules with a licensed adviser. Official: Greek tax authority AADE.