Is It Worth Buying Property in Piraeus?
Written by: Marcus M. Araz, MBA, PhD · Updated:
Yes, if you want a Golden Visa home or rental close to Athens and connected to the metro and the sea; lower prices per square metre than central Athens and two metro lines are Piraeus’s strengths. Piraeus is Greece’s largest port and the main gateway to the Aegean islands; it is the terminus of Athens metro Line 1, and since 2022 Line 3 has also reached Piraeus. Because Piraeus is in Attica, the Golden Visa thresholds are the same as in Athens: €250,000 for conversion projects and €800,000 for other homes. According to the Bank of Greece, flat prices in the Athens area rose 5.0% year on year in the second quarter of 2026.
Piraeus in numbers
| Indicator | Value | Source |
|---|---|---|
| Annual change in flat prices in the Athens area (Q2 2026) | up 5.0% | Bank of Greece |
| Average rent in Attica | €9.2 per m² per month, up 4.3% in a year | September 2026 rent map |
| Golden Visa threshold, conversion and restoration | €250,000, no minimum floor area | Greek Ministry of Migration and Asylum |
| Golden Visa threshold, other homes | €800,000, single home, at least 120 m² | Greek Ministry of Migration and Asylum |
| Metro | Terminus of Line 1; Line 3 in Piraeus since 2022 | Athens Metro (STASY) |
The Bank of Greece does not publish a separate price index for Piraeus; Piraeus lies within the Attica area covered by the bank’s “Athens” series.
What makes Piraeus stand out
- Transport: two metro lines, the tram and the suburban railway in one city. Central Athens is about 20 minutes by metro.
- Port economy: the container port, cruises and island ferries create a constant population of workers and visitors, which supports long-term tenant demand.
- Waterfront: Mikrolimano, Pasalimani and Zea Marina are within walking distance, and the Kastella hillside has neighbourhoods of neoclassical buildings.
- Regeneration: new housing, hotel and serviced apartment projects are under way around the port, and the conversion of old offices and warehouses into homes is creating stock that fits the €250,000 Golden Visa band.
What to watch for
- Big differences between areas: prices and tenant profiles differ greatly between the waterfront and Kastella and the industrial fabric behind the port. You need to assess street by street.
- Permit timing on conversion projects: the change-of-use permit for the existing building can be delayed; the handover date is written relative to the permit.
- No short-term letting with a Golden Visa: a home bought under the Golden Visa cannot be let by the day or week. The ban on new short-term rental registrations in central Athens covers only three districts of the Municipality of Athens; Piraeus is a separate municipality.
- Yield expectations: on conversion projects priced to the €250,000 threshold, the gross rental yield is about 3%, as in Athens; it is higher on second-hand flats on the market. More on our Is buying in Athens a good idea page.
Piraeus in our portfolio
| projects | Type | Price | Note |
|---|---|---|---|
| Royal Piraeus Maisonettes | Three bedroom maisonettes, 101 and 109 m² | €360,000 and €370,000 | 200 m to the metro, 600 m to the sea; delivered furnished; €250,000 Golden Visa band |
| Meridia Residences | One and two bedroom | sold out | No apartments remain available |
Royal Piraeus Maisonettes offers two payment options: a 10% deposit with the balance on the final contract, or a 30% deposit with instalments until handover. The developer provides three years of property management. Our other Athens projects are on our Athens page, and all of them on our project map.
buying costs
On conversion projects, 3.09% transfer tax is paid instead of 24% VAT. With notary, legal and registration costs the total is about 6.7% of the price plus €684; on a €360,000 flat that is about €24,900. The itemised breakdown is on our Cost of buying a home in Greece page.
Who it suits and who it does not
Suits
- Families seeking a Golden Visa who want an address near the metro and the sea rather than central Athens
- Investors looking for a well-connected location for long-term letting
- Buyers planning family use of a spacious three bedroom home
Does not suit
- Those planning to run a Golden Visa flat on Airbnb
- Investors whose priority is a high yield
- Those who need quick handover: on conversion projects handover depends on the permit timetable
Frequently asked questions
Does buying in Piraeus give a Golden Visa? Yes, if the conditions are met. Because Piraeus is in Attica, it takes €250,000 for conversion and restoration projects, or €800,000 and a single home of at least 120 m² for other properties.
Is Piraeus cheaper than Athens? Generally the price per square metre is lower than in central and northern Athens; in Kastella and along the waterfront, however, prices are markedly higher than in the rest of Piraeus.
How do you get from Piraeus to central Athens? About 20 minutes by metro. Piraeus is the terminus of metro Line 1, Line 3 has also reached Piraeus since 2022, and there is the tram and suburban railway too.
What is the rental yield in Piraeus? About 3% gross on conversion projects priced to the Golden Visa threshold, higher on second-hand flats on the market. Average rent in Attica is €9.2 per square metre per month.
Can you do Airbnb in Piraeus? Not on a home bought with a Golden Visa. It is possible on a home bought outside the Golden Visa; the ban on new registrations in central Athens does not cover Piraeus, but national short-term rental rules still apply.
Which areas of Piraeus are most sought after? For living, Kastella, Mikrolimano and around Pasalimani; for letting and transport, central streets near metro stations. The industrial areas behind the port have a different profile.
Related pages
Buying a home in Greece, Will house prices fall in Greece and Does the Greek Golden Visa lead to citizenship.
Sources
The apartment price index is Bank of Greece data. The Attica average rent comes from the September 2026 rent map data. For Golden Visa thresholds see the Greek Ministry of Migration and Asylum. Project prices and payment options are from the developer’s list dated 9 September 2026.
Legal notice
capital.works® (YATIRIM UK LIMITED) is a property consultancy; it does not provide legal, tax or immigration advice. In Greece, the title transfer, tax number and Golden Visa application are handled by a lawyer registered in Greece. Golden Visa conditions can change with new legislation; confirm the current rules with your lawyer before deciding to buy.
The next step
Tell us whether you are looking for a Golden Visa or rental income and your budget, and we will send suitable projects in Piraeus and Athens with purchase costs and the visa process: Contact us.