Greece: €800,000 in prime areas, €400,000 elsewhere, €250,000 for conversion or restoration. Romania has no such programme.
According to the Imobiliare.ro index, summer 2026. In Athens, Spitogatos asking prices ranged from about €2,500 to €4,170.
The transitional 9% rate ended on 30 September 2026. Greece charges 24%, but it is suspended on some projects until end-2026.
In Romania the buyer mainly pays the notary and a 0.15% registration fee. The seller pays 1% or 3% tax.
On the €400,000 and €800,000 routes a single property of at least 120 m² is required, with no short-term letting.
What is the main difference between property in Romania and property in Greece?
Greece offers a golden visa: a five-year residence permit in exchange for buying property worth from €250,000 to €800,000, depending on the area. Romania has no such route, and buying property gives no status. On the other hand, in Greece VAT is suspended on some new construction until the end of 2026 and a transfer tax of about 3% is paid instead, while in Romania a new home is sold in 2026 with 21% VAT but the buyer pays no transfer tax.
"Why not Greece?" comes up in almost every conversation I have with Israeli investors. It is a good question. Greece is close, familiar, has the sea, and many have already bought there. So here is a fair comparison, including the places where Greece comes out ahead. Its purpose is not to persuade you to buy in Romania, but to help you ask the right question: what do you need from the property?
Residency: the biggest difference
Greece. The Greek golden visa grants a five-year residence permit, renewable as long as the investment is kept. According to Enterprise Greece, the government investment agency, the thresholds are:
- €800,000 in Attica (Athens), Thessaloniki, Mykonos, Santorini and islands with more than 3,100 inhabitants.
- €400,000 in other areas.
- €250,000 only for converting a commercial building to residential use or restoring a listed building.
On the €400,000 and €800,000 routes a single property of at least 120 m² is required, and it may not be let on short-term rentals.
Romania. There is no real-estate investor visa. A bill to create one, with a €400,000 threshold, was withdrawn from the Senate in December 2025. Anyone who wants to live in Romania needs a work, business, family, study or remote-work route. We set this out in our guide to residence permits in Romania.
If EU residency is your main goal, Greece answers it and Romania does not. If the goal is a home, both are possible.
Prices: Bucharest versus Athens
| City and area | Price per m² (euro) | Source |
|---|---|---|
| Bucharest, new apartment (average) | about 2,636 | Imobiliare.ro index, summer 2026 |
| Athens, centre | about 2,500 | Spitogatos, asking prices, Q1 2026 |
| Athens, north | about 3,500 | Spitogatos, Q1 2026 |
| Athens, south (coastal strip) | about 4,170 | Spitogatos, Q1 2026 |
Two notes. First, these are averages, and the differences between neighbourhoods are larger than the differences between the cities. Second, Spitogatos figures are asking prices, and the Imobiliare.ro figures refer to new apartments. Comparing averages is a starting point, not a decision. The gap between Bucharest prices and Israeli prices was described in an ynet report by Hila Tzion (in Hebrew). On the Bucharest price map, see our article on Bucharest prices and where to look.
Taxes and costs when buying
| Romania | Greece | |
|---|---|---|
| New property | 21% VAT (the transitional 9% rate ended on 30 September 2026) | 24% VAT, but suspended on some projects until 31 December 2026, with transfer tax paid instead |
| Resale property | No transfer tax for the buyer; the seller pays 1% or 3% income tax | Transfer tax of about 3.09% for the buyer |
| Registration | ANCPI registration fee: 0.15% for individuals | Registration and notary fees |
In Greece, the VAT suspension is the developer's option, not the buyer's right, so it has to be checked project by project. In Romania, according to the ANAF tax authority and the ANCPI land registry, the buyer mainly pays the notary fee and the registration fee. For the full picture see our guide to property buying costs in Romania.
Comparing averages is a starting point, not a decision.
Land ownership: limits for non-EU buyers
In Greece, under Law 1892/1990, non-EU nationals need prior approval to buy property in border areas defined by law, including parts of the Aegean islands, the Dodecanese, Thrace and even Santorini.
In Romania, non-EU nationals can own the building, but direct ownership of the land is restricted. The usual solution is to buy through a Romanian company. We covered this legal structure in our article on land ownership in Romania.
Lifestyle: the sea versus a capital city
Here the difference is not a number but a question of what you are looking for.
- Greece suits those looking for a holiday home by the sea, a Mediterranean climate and a familiar culture.
- Bucharest suits those looking for a home in a European capital: a job market, international schools, city life and green suburbs.
Both are in the EU and in Schengen, and both are a short flight from Israel. Greece uses the euro. Romania's currency is the leu, but property prices are usually quoted in euro.
Five questions to help you decide
- Is EU residency a must? If so, Greece.
- Are you looking for a home by the sea or in a city?
- How many times a year will you use the property, and who will manage it when you are not there?
- Is the property new? If so, check the VAT in each country, because it changes the final price.
- Are you a non-EU citizen? Check the land and area restrictions before you fall in love with a property.
Frequently asked questions
Does buying property in Greece give residency?
Yes, under the golden visa: a five-year permit for an investment of €800,000 in the most sought-after areas, €400,000 elsewhere, or €250,000 for a conversion or restoration. Romania has no such programme.
Is there a golden visa in Romania?
No. A bill for an investor residence programme, with a €400,000 threshold, was withdrawn from the Senate in December 2025, and as of 2026 buying property does not grant status.
Where is the price per m² higher, Bucharest or Athens?
It depends on the area. A new apartment in Bucharest averaged about €2,636 per m² in summer 2026 according to Imobiliare.ro. In Athens, asking prices in the first quarter of 2026 ranged from about €2,500 in the centre to about €4,170 in the south, according to Spitogatos.
How much VAT is paid on a new home in Romania and in Greece?
In Romania, 21% on a new home, after the transitional 9% rate ended on 30 September 2026. In Greece VAT is 24%, but on some projects it is suspended until the end of 2026 and a transfer tax of about 3% is paid instead.
Can Israelis buy property anywhere in Greece?
Not everywhere without approval. In border areas defined by Greek law, non-EU nationals need prior approval. Check the location with a Greek lawyer before you commit.
The bottom line
Greece and Romania are not the same decision. Greece suits those who need residency or a home by the sea. Bucharest suits those looking for a home in a European capital, with transparent purchase costs and no transfer tax for the buyer.
If you are torn between the two, book a half-hour call with me. I won't tell you "only Romania". We'll go through your goal together and see where it fits.
Moti Azulay, Compass Group Romania
Sources and data: Imobiliare.ro price index · Spitogatos · Enterprise Greece · Romanian tax authority (ANAF) · National Agency for Cadastre and Land Registration (ANCPI) · Romanian legislation portal · ynet, Hila Tzion: "For the price of an apartment in Bucharest, you can't even buy a key in Israel" (in Hebrew)
This article is for general information only and is not legal, tax or investment advice. Greek golden visa rules, VAT and taxes in both countries change. Before a transaction, consult a lawyer and a tax adviser in each country.
Now you know more.
This article is general information, not legal, tax or financial advice. Consult local professionals before any transaction.
