Portugal vs Greece: where to buy for residency, retirement and rental

Portugal and Greece are the two southern EU markets foreign buyers most often weigh against each other: both are in the euro area and Schengen, both have a long coast and strong rental demand, and both have tightened their rules in 2026. The rules that matter to a buyer, though, have diverged sharply. The figures below are a snapshot as of autumn 2026, drawn from our country guides and fresh checks; confirm each one before you commit.

Prices and rental yields

• Portugal: mid-2026 averages reported for Lisbon are about €6,100/m², Porto about €4,050 and Faro (Algarve) about €3,770; the Azores sit near €2,250/m². The national average gross rental yield is reported at about 4.3%, with city figures between roughly 4% and 4.8% depending on the source.
• Greece: central Athens asking prices average about €2,440/m² (Q3 2025 data), Thessaloniki's priciest districts run €2,800–3,100, Crete averages around €2,105 and the Peloponnese around €1,410. The national average gross yield is reported at about 4.4%, Athens at about 5.4% and Thessaloniki at about 4.2%.

Greece's entry prices are generally lower and its headline yields slightly higher, but averages hide huge spreads, from Peloponnese flats to Cyclades villas at €5,000–15,000/m². Sources use different methods, so treat these as orientation, not as a quote for any specific street.

Residency for investors

• Portugal: buying property no longer qualifies for the golden visa (closed October 2023). The open routes, as reported by advisers, are funds, research, culture, company and job-creation routes, with the fund route from €500,000. Stay requirements are light, but first-card processing is reported at 18 to 36 months. Citizenship now takes ten years under the law in force from 19 May 2026 (seven for CPLP citizens).
• Greece: property still qualifies. The minimum is €800,000 in Attica, Thessaloniki, Mykonos, Santorini and large islands, €400,000 elsewhere, and €250,000 only for conversion or restoration of eligible buildings. It must be one property of at least 120 m², the permit lasts five years with no minimum stay, and short-term letting of the property is prohibited. It does not lead to a passport on its own.

Remote workers and retirees

• Portugal: the D8 remote-work visa needs income of about four times the minimum wage, roughly €3,280 a month (confirm the current figure). The D7 for passive income starts at €920 a month in 2026. The old NHR regime closed to new entrants after 31 March 2025, so pensions are taxed at standard progressive IRS rates.
• Greece: the digital nomad visa needs €3,500 net a month, plus 20% for a spouse and 15% per child, and applications are consulate-only under Law 5275/2026. The Financially Independent Person visa asks for €3,500 a month or about €126,000 in savings. A flat 7% tax on foreign pensions for up to 15 years is available if strict conditions are met, and new tax residents may qualify for a 50% income tax reduction for seven years.

Purchase costs and taxes

• Portugal: since 25 May 2026 a buyer who is not tax resident pays a flat 7.5% IMT on housing, with exceptions for those who are or become tax resident within two years or who commit to moderate-rent leasing, plus 0.8% stamp duty. A golden visa does not make you tax resident. Annual IMI is typically 0.3–0.45% for urban property, set by the municipality.
• Greece: new builds carry 24% VAT, with an optional suspension for developers extended to 31 December 2026 (a transfer tax of about 3.09% applies instead); resale pays transfer tax. Annual ENFIA is reported at €2–16.20 per m² by zone, with a supplement above €200,000 of value. Budget roughly 10% for total buying costs and confirm the exact figure.
• Selling: Greece's 15% capital gains tax for individuals is suspended until 31 December 2026, and what follows is unknown. Portugal taxes 50% of a non-resident's net gain at progressive IRS rates.

Renting it out

Both are in the EU, so booking platforms report listing data under EU Regulation 2024/1028 since May 2026. In Portugal every short-term let needs an RNAL registration, and Lisbon, Porto and parts of the Algarve can freeze new ones in containment zones. In Greece every listing needs an AMA number and the property must meet physical standards; our Greece guide covers the restrictions on new registrations in Athens. A Greek golden visa property cannot be let short term at all, so an Airbnb plan and that visa do not fit together.

Where each is harder

• Portugal: higher entry prices and lower yields, a slow immigration agency backlog, and the 7.5% non-resident IMT, which hits second-home buyers hardest.
• Greece: zoning and size rules for the golden visa, consulate-only visa applications, no stated post-2026 position on capital gains, and extra permission for non-EU buyers near border areas such as parts of Rhodes and Kos.

Which suits which goal

• A passport-adjacent investment migration route: neither offers property-led citizenship, but Greece is the only one where buying a home still earns a residence permit.
• Lowest entry price and higher gross yield: Greece often leads, outside the premium islands.
• Deep, established international city market and long-term lifestyle: Portugal often leads, at a higher price per m².
• Retirees on a pension: Greece's 7% pension tax is the clearer incentive if you meet its conditions; Portugal's strengths are its settled expat infrastructure and a low D7 income bar.
• Remote workers: Portugal's visa threshold is lower than Greece's on the headline figure, while Greece offers the 50% tax reduction if you move your tax residence.

FAQ

Which is cheaper to buy? Greece usually has the lower entry price per m², but the Cyclades and Athens centre are not cheap, and Portugal's inland and Azores markets are. Which gives residency for buying a home? Only Greece, from €250,000 to €800,000 depending on zone; Portugal's route no longer accepts property. Which has better rental yields? Reported averages are close, around 4.3–4.4%, with Athens and the Greek mainland and islands often higher than Lisbon. Can I use the same plan in both? No: golden visa, short-term letting and tax rules differ, so model each separately.

How we help

We shortlist across both markets to your goal, model net costs and coordinate local lawyers and tax advisers. Informational only — not investment, legal or tax advice; rules and figures change, and sources differ.