Renting in Greece

Outside major cities like Athens and Thessaloniki, high-rise residential buildings are rare, and industrial structures are usually located in peripheral areas. Living in smaller towns and rural areas is often more attractive to many people.

The housing market can be challenging due to limited availability. Rental prices, like in other European countries, depend on the popularity of the city districts.

There is no official rent index, such as in Germany, and rent prices are set freely by landlords. However, compared to other Western European countries, rent levels in Greece are relatively low, making it an affordable place to live.

The security deposit is legally set at two months' rent, but the landlord does not have to keep it in a separate account (trust account). It is common practice to not pay rent for the last two months before moving out to effectively "retrieve" the previously paid deposit, as one cannot always be sure that the landlord will return it upon departure.

In general, the rental property must be returned in the same condition it was in when taken over.

Similar to German rental law, Greek law allows for private autonomy. Landlords and tenants can generally draft rental agreements freely. However, Greek law has several specificities regarding rental contracts.

According to Law 1703/1987, leases are valid for a minimum of three years, even if the agreement is for a shorter period or for an indefinite term. A lease term of less than three years can be agreed upon due to private autonomy, with the background being tenant protection.

A landlord can only terminate long-term leases under very limited circumstances (e.g., for personal use).

Permissible rent increases are set by the National Statistical Service of Greece (Εθνική Στατιστική Υπηρεσία της Ελλάδος) and are based on current living costs. Of course, rent increases can also be individually negotiated within the framework of rental agreements.

If you are interested in a rental property, we look forward to advising you successfully.

We Love Greece Consulting