One of the first questions an investor asks when considering a property in Greece is: "How much will the renovation cost?" Budgeting accurately is critical to ensuring a profitable investment, and understanding the cost per square meter (€/m²) is the best place to start.

While exact figures depend on the project's specifics, this guide provides a reliable estimate of renovation costs in Greece for 2026, broken down by the level of work required. These figures are based on current market data and projected trends.

Disclaimer: These are estimated costs for planning purposes. Final costs will vary based on the property's condition, location, choice of materials, and the complexity of the work. A detailed technical audit and a professional quote are essential. Feel free to contact us for more details.

The goal is to modernize the space for a better living experience or higher rental appeal without major structural changes.

Estimated Cost: €400 - €700 per square meter

What it includes: New flooring (laminate or tiles), interior painting, new kitchen cabinet doors and countertops (not a full replacement), modernizing light fixtures, and updating bathroom fixtures (taps, showerhead).

It involves stripping the property back to its structural elements and redoing everything.

Estimated Cost: €800 - €1,200 per square meter

What it includes: Everything in a cosmetic renovation, plus:

Complete electrical rewiring.

• Complete plumbing replacement.
• New kitchen installation (cabinets, appliances, plumbing).
• Full bathroom remodel (new tiles, sanitary ware, plumbing).
• New high-quality flooring (wood or premium tiles).
• New aluminum windows and doors for energy efficiency.
• Installation of new internal doors, closets, and security door.

Estimated Cost: €800 - €1,200 per square meter

What it is: A flexible lease agreement where the duration is freely negotiated and agreed upon by both the owner and the tenant. It This category applies to properties requiring significant structural work or those being finished to a top-tier luxury standard.

Key Factors That Influence the Final Cost:

• Location: Labor costs can be slightly higher in prime central Athens or on certain popular islands compared to other regions.
• Quality of Materials: The choice between standard-issue tiles and imported Italian marble, or between laminate flooring and solid oak, will significantly impact the budget.
• Property's Age and Condition: An older building may have unforeseen issues (e.g., humidity, structural problems) that add to the cost.
• Engineer & Architect Fees: These are typically separate and add to the overall project cost.

Conclusion:

Understanding these cost brackets allows you to accurately forecast your total investment. A property listed at €200,000 that needs a full renovation is, in reality, a €280,000 - €320,000 investment for a 100m² apartment. Working with an integrated design-and-build firm is the best way to get a precise, all-inclusive quote that aligns your renovation with your investment goals.