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Santorini property is subject to three rules most islands do not have: new building permits in the caldera zone are suspended until 31 December 2026 at the latest, non-EU buyers need prior permission because Thira is a border area, and the Golden Visa minimum is €800,000. The island also had a strong earthquake swarm in early 2025. This guide sets out the facts.
Last verified: 20 October 2026Santorini (Thira, Θήρα) is the main island of the Thira Regional Unit, which also includes Ios, Folegandros, Sikinos and Anafi. Its market is driven by tourism and holiday homes.
| Item | Figure | Source |
|---|---|---|
| Population, Municipality of Thira | 15,480 | ELSTAT, 2021 census |
| Population, Thira Regional Unit | 19,044 | ELSTAT, 2021 census |
| Golden Visa minimum | €800,000, one property of at least 120 m² | Ministry of Migration circular on Law 5100/2024 |
| Non-EU buyers | Prior permission needed (border area) | Law 1892/1990, as summarised by Zepos & Yannopoulos |
| Caldera building permits | Suspended to plan approval, at the latest 31 Dec 2026 | Law 5261/2025, art. 75 |
Because the whole Thira Regional Unit is in the €800,000 tier, the same minimum applies on Ios, Folegandros, Sikinos and Anafi, even though each has fewer than 3,100 residents. See our Golden Visa hub.
No new buildings, extensions or pools can be permitted in the caldera zone of Santorini and Thirasia for now. Article 77 of Law 5151/2024 suspended these permits in the zone marked Z on the law’s map, citing landslide risk. Article 75 of Law 5261/2025 extended the suspension until the Special Urban Plan is approved, and no later than 31 December 2026.
From 27 January 2025 a swarm of more than 2,000 earthquakes struck the sea between Santorini and Amorgos. Fourteen were of magnitude 5.0 or more and the largest reached 5.3, the European-Mediterranean Seismological Centre (EMSC) reports. The activity was centred about 25 km north-east of Santorini and decreased from 12 February 2025.
The Municipality of Thira was declared in a state of civil protection emergency in February 2025. Schools on the four islands of the area stayed closed until 21 February, and the government decided to build an emergency evacuation port, the Ministry of Climate Crisis and Civil Protection said on 17 February 2025. Scientists also monitor the Nea Kameni volcano and the Kolumbo submarine volcano.
What this means for a purchase: ask for the structural history of the building, check the earthquake cover on the insurance, and check for landslide risk on cliff-edge plots.
Spitogatos did not publish a Santorini average in its Greek islands release for the second quarter of 2026, but it listed Santorini among the Cycladic islands where asking prices fell by between 1% and 6% in a year. Mykonos, Folegandros, Sikinos and Andros were in the same group.
| Area, Q2 2026 | Average asking price | Note |
|---|---|---|
| Santorini | Not published | Annual fall of 1% to 6% |
| Antiparos | €7,600/m² | Highest in the Cyclades |
| Mykonos | €7,059/m² | Annual fall of 1% to 6% |
| Paros | €5,263/m² | – |
| Cyclades, all | €4,063/m² | 2nd highest area in Greece |
The Cyclades figure and the asking rent of €14.4/m² a month, the highest in Greece, come from Spitogatos’ national release of 4 August 2026. Caldera homes with a view are listed at a large premium to inland and east-coast houses. Asking prices are not sale prices. National data are on our Greece house prices page.
Buyers choose between the caldera villages on the west and the flatter, cheaper east and south. The caldera has the views. The east has the beaches and easier access.
Thinking about buying in Santorini? Give your brief to an independent buyer’s agency. It can search the market for exactly what you are looking for and advise you through the purchase.
To compare islands, see our Greek islands guide, Mykonos and Naxos.
Before you buy property in Santorini, check the border-area permit, the building permit, the structure and the title. Allow more time than on most islands.
Thira is a border area under article 24 of Law 1892/1990. Buyers from outside the EU and EFTA need prior permission from the Decentralised Administration. Make the agreement conditional on it.
Check that the title and boundaries match the Hellenic Cadastre entry and its parcel number (KAEK). For cave houses, check boundaries above and below ground.
Every deed must attach an engineer certificate confirming there are no unauthorised works, or that they have been legalised (Law 4495/2017, art. 83). Extra rooms, enclosed verandas and pools built without a permit are common in holiday areas. Read illegal building works: what buyers should check.
The foreshore and beach (aigialos and paralia, αιγιαλός και παραλία) are public property under Law 2971/2001. They cannot be owned or built on, and the line is fixed by an official determination. For a seafront plot, ask the engineer to check whether the line has been drawn and where it runs.
Land outside a town plan (εκτός σχεδίου) can only be built on if it meets minimum size, road access and other rules. These rules have been tightened by recent laws and court rulings. Do not pay for land on the strength of a listing that says it is buildable. Ask an engineer to confirm it in writing.
Ask how the house is supplied, whether it has its own tank and what the summer supply has been.
Yes. A home in Santorini can be let short term if it is registered and meets national standards. The freeze on new registrations covers only central Athens (municipal districts 1, 2 and 3) and the 1st Municipal Community of Thessaloniki, according to the Housing Policy Portal. No island is covered.
Details are in our short-term rental rules guide. Tax on the income is covered in rental income tax for owners abroad.
Buyers in Santorini pay the same purchase taxes as anywhere in Greece. On a resale the main cost is transfer tax of 3.09% of the higher of the price and the official tax value, PwC Greece tax summary shows.
| Cost | Amount | Basis |
|---|---|---|
| Transfer tax on a resale | 3.09% | 3% plus a 3% municipal surcharge on the tax |
| VAT on a new build | 24%, suspended to 31 Dec 2026 | Law 5246/2025, art. 12 |
| Cadastre registration | 0.5% plus fixed fees | Joint Ministerial Decision 2/2026 |
| Notary, lawyer, engineer | Official scale or agreed | See our cost guide |
| Buyer’s or estate agent | Agreed case by case | Contract |
Every cost is set out in the real cost of buying property in Greece, and the buying cost calculator works out a total. Owners then pay annual ENFIA property tax (ENFIA for non-resident owners). Capital gains tax on sales by individuals is suspended to 31 December 2026 (capital gains tax guide).
Santorini airport handled 2,418,219 passengers in 2025, provisional Fraport Greece figures show. Greece (1,085,988), the United Kingdom (343,872), Italy (292,714), France (177,629) and Germany (91,957) were the largest markets.
Ferries arrive at Athinios port from Piraeus, Rafina and other Cycladic islands. In winter, flights and ferries are far fewer than in summer.
Recent island news is on our foreign demand report and in the related articles below.
Not in the caldera zone for now. Law 5151/2024 suspended permits for new buildings, extensions and pools in the caldera of Santorini and Thirasia, and Law 5261/2025 extended this until the special urban plan is approved, and no later than 31 December 2026. Outside the zone, normal rules apply, but a draft plan proposes stricter limits.
Yes, but non-EU and non-EFTA buyers need prior permission, because Thira is a border area under Law 1892/1990. The permission is granted by the Decentralised Administration. EU and EFTA citizens are exempt. Your lawyer files the application and the agreement should depend on approval. See how to buy property in Greece.
The minimum is €800,000. Law 5100/2024 names the Thira Regional Unit in the top tier, so the same applies on Ios, Folegandros, Sikinos and Anafi. The amount must be spent on one property with at least 120 m² of main areas. A Golden Visa home cannot be let short term. See our Golden Visa guide.
The 2025 swarm produced more than 2,000 earthquakes, the largest of magnitude 5.3, centred at sea about 25 km north-east of the island, according to EMSC. Activity decreased from mid-February 2025. No one can rule out future events. Buyers should get a structural survey, check insurance cover and avoid unstable cliff-edge plots.
Spitogatos did not publish a Santorini-only average for the second quarter of 2026, but said Santorini asking prices fell by between 1% and 6% in a year. For comparison, Mykonos averaged €7,059/m² and the Cyclades as a whole €4,063/m². Caldera homes are listed far above the Cyclades average. Compare recent sales and the official tax value.
Yes, if the home has an AADE registry number (AMA), meets the safety standards in force since October 2025 and declares each stay. Guests pay the climate resilience fee of €8 a night from April to October, or €15 for detached houses over 80 m². Santorini is not covered by the freeze on new registrations.