An EU country with the euro against a lira market with higher headline yields: prices, costs, rent, currency, ownership rules, residence and risks compared.
Greece and Turkey share the Aegean and the Mediterranean, but as property markets they work in very different ways. Greece is an EU and euro country with an EU legal framework. Turkey is a lira market with higher headline yields, lower euro prices and a different set of risks. This comparison goes criterion by criterion with figures from our dated guides (October 2026) and does not name a general winner. For the details see Greece property prices and buying costs and Turkey property prices and buying costs.
Entry price and price per m²
In Greece, advertised prices run about €2,500 to €4,500 per m² in central Athens, €4,500 to €9,000 on the Athens Riviera, €1,800 to €3,000 in Thessaloniki, €2,000 to €4,000 in Crete and €5,000 to over €12,000 in the Cyclades. Early 2026 averages were about €4,245 per m² for new builds and €2,550 for existing homes (one market source). The Bank of Greece reported urban apartment prices up about 5.3% year on year in the second quarter of 2026 (provisional).
In Turkey the August 2026 average sale price was about 5.3 million lira, roughly €98,000, with Istanbul at about €137,000, Izmir at about €122,000 and Antalya at about €113,000. Citywide per-m² averages from January 2026 were roughly €1,100 to €1,200 in Istanbul, well below prime districts. Prime resort areas such as Bodrum are valued at several times that. Prices rose about 23.5% in lira over twelve months but fell about 6.2% after inflation.
Buying costs and taxes
Greek costs are reported at about 7% to 12% of the price: transfer tax of 3.09%, notary about 2%, land registry about 0.5%, a lawyer about 1% to 2% plus VAT and an agent about 2% to 4% plus VAT if used. New builds carry 24% VAT, which has been suspended up to 31 December 2026 for qualifying properties. For non-EU buyers, an announced rise of the transfer tax to 15% from 1 July 2027 is not confirmed as law.
In Turkey the main cost is the 4% title-deed tax, which by law is shared but in practice often paid by the buyer. Add a valuation report from a licensed valuer, compulsory earthquake insurance (DASK), translation and notary costs if you buy by power of attorney, and VAT of 1%, 10% or 20% on a new build depending on size and location. On our €100,000 example the all-in cost is roughly €105,000 to €106,000 before agent commission.
Annual taxes differ too. Greece charges ENFIA, with a base of about €2 to €16.20 per m² depending on the zone. Turkey charges a property tax of 0.1% outside metropolitan municipalities and 0.2% inside them, on a tax value usually well below market value.
Rental yield and the currency
Global Property Guide put the average gross yield in Greece at about 4.4% in the second quarter of 2026, with Athens at about 5.4% and small flats in cheaper Athens districts reaching 6% to 8%. Net is typically 1.5 to 2 points lower. Turkey shows 6% to 8% gross in lira, from our arithmetic on two August 2026 samples: about 7.4% in Istanbul, 8.1% in Ankara and 5.8% in Antalya.
The currency decides the comparison. The euro cost about 48.7 lira in late October 2025 and about 53.8 in mid-July 2026, so roughly a tenth of lira rent is lost to the exchange rate within a year. A 7% lira yield can therefore be a much smaller euro yield. In Greece, rent and price are in euro and the only currency question is your own. Turkish annual rent increases on existing leases are capped at twelve-month average inflation; new lets are priced at market.
Tax on rent: Greece is reported to apply a scale of 15% to 45% on 2026 income with a 5% standard deduction; Turkey applies a 15% to 40% scale after an annual exemption and a 15% lump-sum expense deduction, so a normal investor lands in the 15% to 27% band. Both are reported figures, so ask a local adviser.
Short-term rentals
Both countries restrict holiday lets. Greece requires an AMA registration, new registrations are frozen in central Athens districts 1 to 3 and the first district of Thessaloniki, and an extension to the end of 2027 was announced. Turkey has required a permit since 2024 for rentals of 100 days or less per contract, with the consent of all owners in a multi-owner building. Aggregator data show low occupancy on both sides, so model a long-term let first. See short-term rental rules in Greece and in Turkey.
Ownership rules for foreigners
EU citizens buy freely in Greece; non-EU buyers can also buy, with special approval for some border areas, and face the announced tax change above. In Turkey foreigners may own up to 30 hectares nationwide and no more than 10% of privately owned land in a district, cannot buy in military or security zones, and the land registry checks with the military before a sale, which can delay the purchase. Turkey is outside the EU, so EU-law protections do not apply in the same way; see EU vs non-EU property.
Residence and visas
An EU citizen has a right to live in Greece under EU rules. In Turkey, buying does not automatically give a residence permit, and neighbourhoods where foreigners reach about 20% of residents can be closed to new registrations. Check entry and stay rules for your passport before you plan long stays.
For investors, Greece has a golden visa. As reported, the thresholds are €800,000 in high-demand areas (Attica, Thessaloniki, Mykonos, Santorini and large islands) and €400,000 elsewhere, with a €250,000 route for conversions and listed buildings; it needs a single property, and short-term letting is barred. See the Greece golden visa. Turkey offers citizenship for a real-estate purchase of USD 400,000 with a three-year no-sale restriction, as reported by several portals. Both are separate decisions with their own rules; see Turkey citizenship and golden visa. Greece is in Schengen; Turkey is not.
Mortgages
Bank lending to foreigners is narrow in both. For Greece, portal summaries report mortgages for non-residents of about 50% to 65% of value; these are not bank quotes. For Turkey, read mortgages for foreigners in Turkey and mortgages for foreigners in Greece; many purchases proceed on cash.
Climate, lifestyle and flights
Both have long, hot summers and mild winters on the coast. Greece offers islands, an EU environment and ferry connections; Turkey offers large cities, Istanbul as a global hub and many direct flights to Antalya, Izmir and Istanbul. Winters in inland Turkey are cold. Check the actual flight and ferry timetable for your use.
Risks
Greece: planning and title issues in older property, a short-let freeze, and tax announcements that can change; see Greece property investment risks. Turkey: inflation, the weakening lira, real prices falling, earthquake exposure, military-zone and neighbourhood limits; see Turkey property investment risks. For other pairs, see Georgia vs Turkey and Portugal vs Greece.
Who should choose which
- If you want euro assets inside the EU legal framework, a holiday home you can use freely and a simpler tax interaction with your home country, lean to Greece.
- If you want a lower entry price in euro, you accept currency and inflation risk and can verify the title, lean to Turkey, preferably in a deep market such as Istanbul rather than a resort.
- If your income is in euro and the investment must keep its euro value, be cautious with lira income and compare with euro markets.
- If residence or citizenship is the goal, treat it as a separate decision from yield and check the current rules for your passport.
FAQ
Is Turkey cheaper than Greece? Usually in euro per m² for citywide averages, but prime resort districts in Turkey can cost as much as Greek islands.
Which has the higher rental yield? Turkey shows more on paper in lira, 6% to 8% gross, but the lira falls against the euro. Greece averages about 4.4% gross in euro.
Can a non-EU citizen buy in both? Yes, with different restrictions: border-area approvals and an announced tax change in Greece, and size and zone limits in Turkey.
Do I get residence by buying? Not automatically in either country. Greece has a golden visa above thresholds; Turkey has a citizenship route at USD 400,000.
How we help
We are a trilingual platform that finds properties in both countries and coordinates independent local lawyers and tax advisers. We can compare asking prices with recent sold prices and model the return in euro. Browse the country pages or the comparison tool. This text is informational and is not legal, tax or investment advice; rules, rates and prices change, so verify current rules before you buy. Official sources include the Bank of Greece and the Central Bank of the Republic of Türkiye.