The Mediterranean's two largest property markets. Spain's Golden Visa ended April 2025. Greece's tiered Golden Visa: €800K (Athens/Thessaloniki/Mykonos/Santorini), €400K (rest), €250K (conversions only). Athens yields 5-8%. Spain: 4-7% yields but 19-30% CGT; Greece: 15% CGT (suspended through 2026).

Disclaimer: Tax rates, investment rules, and visa programs change frequently. The data below is for informational purposes only — always verify with official sources and consult qualified professionals. Read full disclaimer

Investment Overview

Metric	🇪🇸 Spain	🇬🇷 Greece
Capital Gains Tax	19–30%	15%
Property Access	Foreigners OK	Foreigners OK
Investment Visa	None specific	None specific
Monthly Budget	from €1,600	from €1,400
Crypto Regulation	Evolving	Evolving

Capital Gains Tax

🇪🇸 Spain

19–30%

Capital Gains Tax

🇬🇷 Greece

15%

Capital Gains Tax

Spain has the tax advantage with 19–30% capital gains tax vs 15%. Your effective rate may differ based on holding periods, asset type, and treaty benefits.

Property Investment

🇪🇸 Spain

Foreigners OK

Freehold ownership

🇬🇷 Greece

Foreigners OK

Freehold ownership

Investment Visa Programs

🇪🇸 Spain

None specific

🇬🇷 Greece

None specific

Key Investment Insights

🇪🇸 Spain

Capital gains tax: 19–30% (progressive: 19% up to €6k, 21% to €50k, 23% to €200k, 27% to €300k, 30% above €300k) — plan your investment strategy around holding periods and tax-advantaged accounts
Golden Visa: ENDED April 2025 — real estate route no longer available. Consider Digital Nomad Visa (€2,849/mo) or Non-Lucrative Visa (€28,800/yr) instead
Local stock exchange: BME (Madrid) — access to domestic equities, bonds, and ETFs
Capital gains tax: 19–30% (progressive: 19% up to €6k, 21% to €50k, 23% to €200k, 27% to €300k, 30% above €300k)

Full investing guide

🇬🇷 Greece

Capital gains tax: 15% — relatively competitive compared to high-tax Western countries
Golden Visa (since Aug 2024): Tier 1 €800K (Athens/Thessaloniki/Mykonos/Santorini), Tier 2 €400K (rest of Greece), €250K (conversions/historic). Min 120sqm. Airbnb banned on GV properties.
Local stock exchange: Athens Exchange — access to domestic equities, bonds, and ETFs
Capital gains tax: 15%

Full investing guide

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Spain vs Greece Investing — FAQ

Which has lower capital gains tax — Spain or Greece?

Spain has lower capital gains tax at 19–30%, compared to 15% in Greece. Consider holding periods and treaty benefits that may further reduce your effective rate.

Can foreigners buy property in Spain and Greece?

In Spain, property access for foreigners is: Foreigners OK (Freehold ownership). In Greece: Foreigners OK (Freehold ownership). Always use a local lawyer for property transactions.

Does Spain or Greece have a golden visa program?

Spain: None specific. Greece: None specific. Golden visa programs can change frequently — verify current requirements before committing capital.

Which is cheaper for expats — Spain or Greece?

Greece is more affordable with an estimated monthly budget of from €1,400, compared to from €1,600 in Spain.

Which is better for crypto investors — Spain or Greece?

Crypto regulation in Spain: Evolving. In Greece: Evolving. Capital gains tax (which typically applies to crypto) is 19–30% in Spain and 15% in Greece. Crypto-specific rules are evolving rapidly in both jurisdictions.

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🇪🇸 Spain Investing Guide 🇬🇷 Greece Investing Guide All comparisons