With so many to choose from, the Greek Islands have all types of property to suit all budgets, making them ideal for buyers priced out of other Mediterranean island destinations. We’ve found four spots that are especially affordable…

From fashionable hot spots, such as areas of Mykonos, Santorini and Corfu, to more affordable family destinations, likes Rhodes, and Crete, the Greek Islands tick just about every box for home-hunters. But if you avoid the crowds and head to some of the lesser-known areas and you’ll find your money goes surprisingly far. Based on a recent index by a leading Greek portal, we’ve picked four of the best-value islands or areas – average property prices in each area is less than €1,500/ square metre (Q3 2022). For comparison, the average for the Cyclades is €2,963!

Lesbos (Lesvos)

Average prices: €1,042/sqm

The third largest Greek Island after Crete and Evia, Lesbos sits on its own, seven kilometres off the coast of Turkey, away from the Cyclades and Dodecanese islands to its south. Thanks to its size, it seamlessly combines a good choice of family resorts, a rolling green interior and a vibrant historic capital, Mytilini.

You can tap into the authentic Greek lifestyle just as easily as the tourist spots and golden beaches. Lively beaches areas be found at Eressos, Kalloni and Anaxos, while quieter coastal spots include Ermogenis, Kambos and Gavathas. The charming old coastal town of Molyvos is another highlight, as is the windsurfing at Sigri! Besides direct flights, it’s accessible via ferry from Athens and Turkey.

Our picked property in Lesbos is this renovated character house with two bedrooms, located in the town of Molyvos and with stunning panoramic views of the sea. Price: €220,000.

Chios, Aegean Islands

Average prices: €1,099/ sq m

Not far south of Lesbos and equally close to the Turkish coastline, is smaller and more intimate Chios. Its other name is the ‘Fragrant Island’ after the aroma from its mastic bushes. Home to a small collection of ancient religious sites, the island is predominantly agricultural, with most life happening in the main town, Chios Town on the east coast, and small resort of Karfas, just south. It offers a quiet rustic lifestyle with access to a selection of unspoilt beaches dotted around the island in stunning locations.

These include Komi, Elinta, Avlonia, Apothika, Trachili and Lithi, typically with not much more than a taverna or two and a few sunbeds! Ferries go to Chios from Lesbos, Athens and Turkey, or check availability for internal flights from Athens, Thessaloniki or Rhodes.

In Chios, we bring you this charming one-bedroom village house in Volissos, set over two-storeys, recently refurbished and with sea views. Price: €110,000.

Evia (Evvoia/ Euboea)

Average prices: €1,200/ sq m

 

Just about an island, Evia is the second largest in Greece and connected to the mainland by two bridges, making it just an hours’ drive from Athens Airport to its ancient capital, Chalkida. A busy cosmopolitan hub with modern amenities, other key coastal towns include Limni, Aidipsos, Eretria and Karystos with its port.

A microcosm of everything great about Greece, complementing its towns, Evia has diverse beaches, some stretching to five or more kilometres. Notable ones include Artaki, Nea Stira, Heliadou, Kimi, Angali, Agiokambos, Thapsa, Mourteri, Vythouri, Petali, Almyrihi, Agios Dimitrios and Agios Georgis. Its scenic mountainous interior is a paradise for outdoorsy types, not to mention the famous natural springs, which pop up around the island. Beside the road bridges, ferry services are also available to the island.

Our pick for Evia is this renovated two-bedroom house in Neos Pyrgos, complete with a garden and a short walk from the beach and celebrated fish tavernas. Price: €170,000.

 

Heraklion, Crete

Average prices: €1,364/ sq m

Unsurprisingly, Greece’s largest island is also its most popular with foreign homeowners, but it’s also big enough to support a diverse property market and range of prices. Historically, most resident expats prefer the island’s more traditional west, while the east is known for its beach resorts. In the former, the Apokoronas district is especially popular. Overlooked by mountains and with lush green countryside rolling down to the beaches, this pocket of the island is conveniently located between the west’s main cities of Chania and Rethymnon. Meanwhile, the easternmost part of the island is forging a name in upmarket tourism, notably around the harbour towns of Elounda, Agios Nikolaos and Sitia.

Which leaves the more central-eastern section of the island, specifically the Heraklion district (prefecture), where property values are lower! It’s home to the historic capital, Heraklion, which is also home the island’s busiest airport. It includes the lively modern beach resorts of Malia and Hersonissos, as well as more traditional Agia Pelagia, an old fishing village within a protected bay. Head inland a few kilometres to the one of the many old villages, and your money goes notably further than on the coast.

Take a look at this cosy village home 15kms inland from Hersonissos, which has two bedrooms, a courtyard garden and boasts lots of character. Price €110,000.