Corfu Real Estate 2025: Island Market Booms with Surging Demand and Bold Forecasts

Corfu’s real estate market is booming in 2025, driven by soaring foreign demand, rising home prices, and major new developments on this idyllic Greek island. Whether you’re eyeing a seaside villa or a commercial venture, Corfu offers exciting opportunities – and some challenges. Below we break down everything you need to know, from residential trends and price forecasts to legal tips and upcoming infrastructure projects.

Residential Real Estate Trends in Corfu (2025)

After a decade of stagnation in the 2010s, Corfu’s residential property market rebounded strongly from 2020 onward. By 2022 the island’s average home prices surpassed €2,000 per square meter, and values kept climbing through 2023–2024 with up to 10% annual increases in prime areas green-acres.gr. Foreign buyers – especially from Europe, Israel, Australia, and the U.S. – have fueled this growth, drawn by Corfu’s natural beauty and lifestyle appeal green-acres.gr enimerosi.com. As a result, 2023 was the island’s best property market in a decade, and 2024 continues to see robust demand for upscale homes enimerosi.com.

Prices and Popular Areas: Corfu’s housing costs vary widely by location. In May 2025, the average asking price for homes was about €2,613/m², up 10.7% year-on-year indomio.gr. Highly sought-after locales command a premium, while rural villages remain more affordable:

• Corfu Town (Kerkyra) – ~€2,800–€4,500/m² for apartments or houses in the historic center or with sea views green-acres.gr. Properties here are in constant demand due to the UNESCO-listed Old Town charm and year-round amenities. In fact, supply is so tight that renovated Old Town homes fetch €4,000–€5,000 per m² when they hit the market enimerosi.com.
• North-East Coast (Kassiopi, Nissaki, Agni) – €3,500–€6,000/m² for luxury villas with panoramic sea views green-acres.gr. This area of stunning coves and privacy is Corfu’s most exclusive villa enclave, with estates regularly selling for €5–10 million enimerosi.com enimerosi.com.
• West Coast (Paleokastritsa, Glyfada, etc.) – €2,500–€4,000/m² near popular beaches green-acres.gr. These scenic areas offer a mix of luxury villas and holiday homes; demand and prices are rising thanks to their spectacular sunsets and resort appeal.
• Rural Villages & Inland – Starting ~€1,500/m² green-acres.gr green-acres.gr for traditional village houses or renovation projects. Inland communities (e.g. Gastouri, Spartilas, Sinarades) and parts of the south (e.g. Lefkimmi) provide more budget-friendly options and rustic charm, with some fixer-uppers under €100,000.

Demand patterns: The market has become two-speed. At the high end, wealthy buyers are racing to acquire their dream villa or seafront plot – local agents report a 20–30% surge in luxury buyers over the past year enimerosi.com. Corfu was in fact the #1 destination for luxury home seekers in Greece in early 2023, topping even Mykonos in buyer preference enimerosi.com. This reflects the island’s enduring allure for premium real estate. In contrast, demand has cooled for lower-priced properties: homes in the €50k–€200k range (often older village houses) attract far fewer buyers now (agent estimates show a 60% drop in interest from middle-income clients in 2023) enimerosi.com. Economic uncertainty and rising costs have sidelined some local and Balkan buyers who once snapped up inexpensive plots and cottages enimerosi.com.

Overall, Corfu’s residential market in 2025 is vibrant and skewed toward upscale investment. With limited supply in prime spots and ever-growing international interest, prices are expected to remain elevated. The island still compares as “affordable” versus hotspots like the French Riviera or Santorini, yet offers similar Mediterranean allure green-acres.gr – making it a compelling choice for vacation-home buyers and retirees looking for value. Local experts note that long-term price appreciation is likely as demand stays strong and modern infrastructure projects roll out green-acres.gr green-acres.gr.

Commercial Real Estate: Tourism and Business Property

Corfu’s commercial real estate scene is driven largely by tourism, which is the backbone of the island’s economy. The most active commercial segments are hospitality properties (hotels, resorts, villas-for-rent), along with retail and restaurant spaces in popular tourist areas. Record numbers of visitors are arriving – over 1.8 million passengers came through Corfu’s airport in 2023, exceeding pre-pandemic levels investropa.com – and this influx supports strong demand for businesses catering to tourists.

Hospitality investments lead the trend. Major hotel groups and investors are pouring money into Corfu’s resort sector, upgrading older properties and building new luxury accommodations:

• The Sani/Ikos Group, for example, acquired the former Club Med resort in Dassia and invested €125 million to develop the new Ikos Odisia, a five-star all-inclusive resort with 395 rooms that opened in 2023 saniikos.com. This large project adds to the island’s luxury offerings and reflects confidence in Corfu’s tourism growth.
• Domes Resorts (a Greek luxury hotel brand) has announced a new boutique hotel opening in Corfu Old Town for 2024, repurposing historic properties into high-end accommodations. Similarly, Mayor Hotels & Resorts group is renovating and rebranding existing resorts (e.g. Restia Suites) to modern five-star standards.
• International developers are also eyeing Corfu: Canada’s Mercan Group launched a Golden Visa-eligible investment in a new Wyndham-branded 4-star beach resort on the island imidaily.com.

In addition to hotels, smaller commercial ventures like seafront restaurants, bars, and retail shops in tourist hotspots are thriving. Key areas such as Corfu Town’s Liston district, beach towns like Sidari or Kavos, and villages near cruise ports see intense competition for commercial leases during the summer season. Rents for prime retail spaces have climbed accordingly. (For instance, a shop or café spot in Corfu Old Town can command a premium in summer months due to heavy foot traffic from cruise ship passengers and holidaymakers.)

Corfu’s commercial real estate upswing is part of a broader Greek trend. In 2023, investment in Greek commercial properties (offices, shops, hotels, logistics) hit an all-time high of over €2 billion, up 22% from 2022 res-greece.com. Notably, about €500 million of that was invested in hotels/tourism properties res-greece.com, underscoring how attractive the hospitality sector is. Much of this investment has been driven by domestic Greek investors and hotel groups expanding their portfolios res-greece.com. In Corfu’s case, domestic hotel operators (and some foreign funds) are actively snapping up assets to capitalize on the tourism boom.

Popular commercial sectors: Besides hotels, short-term rental villas and apartment complexes are lucrative investment assets – essentially a hybrid of residential and commercial use. Many investors buy villas or small apart-hotels to operate as holiday rentals, given the high yields (more on this in the rental section). Retail and food/beverage outlets in resort areas also remain in demand. There is relatively limited demand for traditional office space on the island (Corfu is not a corporate hub), but specialized uses like co-working spaces or wellness centers have started to appear, catering to digital nomads and expats living semi-permanently on the island.

Overall, Corfu’s commercial real estate prospects for the next few years are positive, closely tied to tourism growth. As long as visitor numbers stay strong or rise, we can expect continued development of hotels, resorts, and tourist facilities. Investor confidence is high – a realty firm report lists Corfu among Greece’s top-performing markets for rental returns (annual yields ~6–8%), comparable to Athens and Thessaloniki prestigiarealty.com. The hospitality sector is singled out for particularly high-yield opportunities, especially in boutique hotels and resort-style projects catering to luxury travelers prestigiarealty.com.

Buying vs. Renting in Corfu: Prices, Yields and Rental Trends

Buying property in Corfu comes with a wide range of price options. On the low end, renovation-needed village houses or small apartments inland might start around €60,000–€100,000. At the high end, turnkey luxury villas on the coast can run into the millions (often €500,000 up to €5–10 million for the most exclusive estates enimerosi.com enimerosi.com). For a typical ready-to-use holiday home with a sea view, buyers should expect a few hundred thousand euros at least. Many popular 2–3 bedroom villas in good locations fall in the €250k–€500k range (which historically was the sweet spot for Golden Visa investors; see Investment section). Essentially, Corfu offers everything from affordable fixer-uppers to ultra-prime mansions, serving both local and international buyers across budgets.

Renting on the island presents a contrasting picture: long-term rentals are scarce and relatively expensive for locals, partly because so many homes are rented to tourists short-term. Availability of year-round rentals is tight, leading to “astronomical” prices and even housing shortages for residents in some cases enimerosi.com. As of late 2023, a typical long-term rent for a two-bedroom apartment in Corfu Town is around €450–€650 per month (furnished) enimerosi.com. Larger three-bedroom apartments in town or the immediate outskirts (areas like Kanoni, Potamos, etc.) rent for about €600–€850 per month enimerosi.com. For detached houses in suburban areas (e.g. around Garitsa, Alepou, Gouvia or village outskirts), monthly rents generally range €600–€1,000 depending on size, condition, and amenities enimerosi.com. These rates are quite high relative to local incomes, reflecting the strong competition and limited supply of long-term rentals.

Why the shortage? A major factor is the lucrative short-term rental market (Airbnb-style). Many property owners earn far more by renting to tourists nightly/weekly in summer than they could from a year-long lease. Corfu is a hugely popular vacation destination, so platforms like Airbnb and Booking.com are flooded with listings each season. Local agents report that each year more owners convert their properties into short-term rentals; in fact, the number of Corfu homes used as Airbnb-type rentals has been climbing by an estimated 15–20% annually recently enimerosi.com. This has worsened the long-term rental availability – some apartments that would have housed locals are instead kept for summer visitors. It’s common for landlords who do agree to long-term leases to only offer them in winter: after the tourist season ends, they’ll rent to teachers, students, or seasonal workers until spring, then reclaim the property for summer Airbnb use enimerosi.com. Many ads specify the rental is “available until April” for this reason enimerosi.com.

Rental yields and ROI: For investors, Corfu’s rental market can be very rewarding, especially on the short-term side. During the busy tourist season (May through October), well-located villas and apartments can generate substantial income. According to industry analysis, short-term holiday rentals on Corfu can yield around 5–7% gross annually in rental income relative to property price chaserealestatecorfu.com. In peak scenarios (premium villas with high occupancy and rates), gross yields can even reach double digits – one source notes that successful short-term rentals in Greek tourist hotspots can earn up to ~14% gross (around 7–8% net after costs) globalpropertyguide.com. These returns far outshine typical long-term rental yields, which are generally ~3–5% gross in Greece globalpropertyguide.com. In Corfu, long-term rents are high by local standards but still lower than what an owner could make from rotating vacationers through the property.

However, short-term renting comes with caveats: it is highly seasonal (properties may sit mostly empty in winter), and it requires active management or hiring a property manager. Investors should plan for off-peak cash flow dips chaserealestatecorfu.com; some mitigate this by doing medium-term winter lets to digital nomads or off-season workers at reduced rates. Also note that Greek authorities are beginning to regulate the Airbnb market. New measures include tax incentives for landlords to return units to long-term leases and higher taxation on short-term rental income in certain areas prestigiarealty.com. While Corfu hasn’t seen strict caps yet, future rules could affect profitability. It’s wise to stay compliant (e.g. registering your rental property and obtaining a license if required globalpropertyguide.com).

Buy-to-let strategy: Despite the above, rental demand remains very strong in Corfu, both for holiday rentals and the limited long-term segment. Tourist occupancy rates are high through summer, and even shoulder seasons are improving as the island markets itself for offseason travel and remote work stays. If you buy a property in a desirable location, you can expect steady tourist bookings. For example, an analysis of Santorini (another island) showed short-term occupancy around 78% on average investropa.com – Corfu sees similar patterns in popular areas. Returns on a well-run vacation rental can be excellent, but investors should also factor in maintenance, marketing, and management costs, as well as the possibility of vacancies in winter.

In summary, renting in Corfu is a landlord’s market: high demand, not enough supply. Tourists ensure strong income potential, whereas locals struggle with high rents and low availability. For someone deciding whether to buy or rent on the island, buying is attractive if you can afford it – you not only hedge against rent inflation but also have the option to tap into the profitable holiday rental market for extra income. Just be mindful of the seasonal nature of the market and the importance of choosing the right location to maximize rental ROI.

Investment Trends: Foreign Buyers, Hotspots, Risks & Rewards

Corfu has emerged as a hot investment destination, with foreign investors playing a pivotal role in the market’s dynamism. International buyers are drawn by Greece’s relatively affordable prices (compared to other Mediterranean locales), the island’s lifestyle, and the potential for both rental income and long-term capital appreciation chaserealestatecorfu.com chaserealestatecorfu.com. Here’s a look at the key investment trends:

• Surge in Foreign Investment: Buyers from the UK, Germany, Scandinavia, the U.S., Israel, and beyond have been flocking to Corfu. In the luxury segment, Israeli, American, and Australian buyers have been particularly active, readily spending millions on upscale properties enimerosi.com. Europeans (including Britons) also remain very involved. Notably, a Sotheby’s report for early 2023 showed Corfu was the top choice for luxury homebuyers in Greece, capturing 18.1% of preference – higher than even Mykonos or the Athens Riviera enimerosi.com. This is a remarkable vote of confidence in Corfu’s allure among high-net-worth investors. The Golden Visa program (offering residency to non-EU buyers) historically bolstered foreign interest; while the terms have tightened recently (see Legal section), in 2024 a large share of applicants were from China and other Asian countries, signaling new waves of foreign capital investropa.com. In short, Corfu’s buyer pool is truly global in 2025, injecting significant money into the market.
• Popular Investment Locations (“Hot Zones”): Certain areas in Corfu are seeing especially high growth and interest. The North-East coast – from Nissaki up through Kassiopi – is considered a prime investment zone, known for luxury villas and estates. This region is experiencing some of the island’s highest appreciation rates chaserealestatecorfu.com, thanks to its exclusivity and demand from elite buyers. The central-west coast (around Paleokastritsa, Liapades, Agios Gordios down to Halikounas) is another growth area, combining stunning scenery with new boutique developments. Corfu’s Old Town remains a perennial favorite for investors who want historic charm plus rental income; properties there have steady appreciation and year-round rental demand (from tourists and locals alike) chaserealestatecorfu.com chaserealestatecorfu.com. Additionally, some up-and-coming areas are on investors’ radar: for example, the quiet village of Agios Stefanos (Avliotes) in the northwest, and the south-east coast around Benitses, are cited as having strong growth potential as more buyers seek affordable options beyond the main hotspots chaserealestatecorfu.com chaserealestatecorfu.com. Generally, sea-facing properties in any region of Corfu tend to offer the best long-term prospects, whereas remote inland properties may appreciate more slowly.
• Returns and Appreciation: Investors in Corfu have enjoyed substantial gains in recent years. Over the last five years, property values on the island rose on the order of 20–30% overall (in high-demand areas) chaserealestatecorfu.com. Rental yields are healthy (as discussed, short-term rental yields of ~5–7% are achievable chaserealestatecorfu.com, and even long-term yields around 4–5%). The combination of price growth and rental income potential makes for a compelling total return on investment. Looking ahead, forecasts remain optimistic: the Ionian Islands (including Corfu) are projected to see steady price appreciation of around 5–7% annually through 2026 blackinvestor360.com. Corfu’s coveted north coast is expected to slightly outperform that average. Such growth, while moderate compared to the post-COVID spike, is a strong, sustainable trajectory. It implies that an investor today could see property values perhaps 15–20% higher in 3–4 years. Few markets in Europe offer that level of upside with the relative security that Corfu provides (Greek property is still considered undervalued by many, and the country’s economy is stable and growing around 2% per year blackinvestor360.com).
• Risks and Considerations: No investment is without risk. One concern in Corfu is market seasonality and dependence on tourism. A villa’s rental income can be fantastic in summer but drop to zero in winter, so investors must manage cash flow and maybe find off-season tenants chaserealestatecorfu.com. The island’s property market could be vulnerable to any downturn in travel (for instance, a future pandemic or economic crisis reducing tourism would hit Corfu harder than non-resort markets). There’s also the regulatory risk – the government has begun addressing housing shortages by discouraging excessive short-term rentals (through taxes or incentives to rent long-term) prestigiarealty.com. If stricter rules on Airbnb-style rentals emerge, that could affect expected ROI for some investors. Bureaucracy is another factor: buying property in Greece involves navigating legal checks, title verification, and sometimes convoluted zoning laws chaserealestatecorfu.com. Always do thorough due diligence (hire a good local lawyer) to avoid issues like inherited debts or unpermitted additions on a property. Lastly, liquidity: while demand is high now, real estate on an island can be illiquid if market conditions change. An ultra-luxury villa might take time to sell if the pool of buyers shrinks unexpectedly.
• “Golden Visa” Changes: It’s worth noting that Greece’s popular Golden Visa residency program, which attracted many non-EU investors, underwent reform in late 2024. The minimum investment was raised significantly in prime locations. For example, Corfu (as a large island with >3,000 residents) now requires €800,000 of property investment to qualify for a Golden Visa, up from €250,000 previously prestigiarealty.com. This policy change aims to curb speculation in hotspots. While ultra-wealthy buyers won’t be deterred (and can easily spend that amount on a luxury home), some mid-tier foreign investors might pivot to other areas of Greece that have a lower €400k threshold prestigiarealty.com. So, moving forward, Corfu may see slightly fewer “residency-motivated” purchases in the sub-€500k range. Nonetheless, the island’s inherent appeal means foreign demand should remain strong – now likely focused on higher-end purchases or lifestyle rather than purely visa goals.

In summary, Corfu offers an attractive investment landscape in 2025: a robust growth record, promising forecasts, and many opportunities across segments (from renovating village houses to developing seaside villas or tourist facilities). The top growth zones (NE coast, popular west coast beaches, Old Town, etc.) present excellent prospects for both appreciation and rental yield. Investors should be mindful of the seasonal and regulatory nuances, but with careful planning, the risks are manageable and returns can be excellent. As one real estate guide concluded: “Yes, Corfu is a solid investment for long-term appreciation and strong rental income… it remains one of Greece’s best real estate markets” chaserealestatecorfu.com.

Price Forecasts: 3–5 Year Outlook for Corfu’s Property Market

What lies ahead for Corfu’s real estate prices? Most analysts predict continued growth in both residential and commercial property values, though at a more moderate pace than the recent past. Here are the key forecast points:

• Residential Price Growth: After the double-digit annual jumps of 2021–2022, price increases are expected to moderate to mid-single digits per year in Corfu. A detailed 2025 market forecast projects the Ionian Islands (Corfu included) will see roughly +5% to +7% price growth annually through 2026 blackinvestor360.com. Corfu’s prime areas may hit the upper end of that range (or slightly above), while less sought-after locales might be lower. This steady appreciation reflects healthy ongoing demand balanced by higher interest rates (which have cooled some local buyers). Notably, a late-2023 local report even anticipated a brief dip of around 5% in prices in 2024 due to the retreat of many mid- and low-budget buyers enimerosi.com. Indeed in early 2024, agents observed that the market was softening at the lower end, which could lead to slight price corrections in that segment. However, any island-wide price drop is likely to be small and temporary. Corfu’s long-run trajectory remains upward, buoyed by foreign capital and limited supply. By 2025–2027, as global conditions stabilize, the island’s property values should resume climbing consistently. For example, the European Commission’s outlook for Greece’s economy (2%+ GDP growth annually) and a potential easing of mortgage rates by 2025 blackinvestor360.comwould both support real estate prices rising.
• Commercial & Tourism Property Outlook: Commercial real estate (hotels, shops, etc.) in tourist areas is also slated to grow in value, though somewhat slower than housing. Forecasts for Greece indicate commercial property values increasing ~3–5% per year in the next few years in strong markets blackinvestor360.com. For Corfu, that means a well-located hotel or retail space should appreciate gradually as tourism expands. The fact that tourism numbers are hitting record highs and still growing ~15–20% above pre-pandemic levels blackinvestor360.com provides confidence that demand (and revenues) for commercial properties will remain high. Large-scale investors are certainly optimistic – Greece saw unprecedented investment in hotels and offices in 2023 res-greece.com, and those projects typically bank on rising asset values ahead. Additionally, as infrastructure improves (new flights, better ports, etc.), commercial real estate benefits (more foot traffic, higher rents, higher valuations).
• Factors influencing forecasts: Several drivers underpin the positive outlook:
  • Infrastructure Developments: By improving accessibility and livability, new infrastructure tends to raise property values. In Corfu’s case, the airport upgrade and new seaplane terminals by 2025 will shorten travel times and draw more visitors, which “hints at a rise in property prices” according to analysts investropa.com. Investments in roads and utilities also expand the areas viable for development.
  • Tourism Growth: Corfu’s tourism sector is expanding (both in volume and in upscale quality), which historically correlates with higher real estate demand. If Corfu continues trending toward higher-spending tourists (e.g. luxury resorts, yachting, cultural tourism), property prices, especially high-end, will follow suit.
  • Broader Market Trends: Nationwide, Greece’s property market is forecasted to grow ~3% annually in transaction value through 2029 theluxuryplaybook.com. While cities like Athens might lead that growth, the islands are not far behind. In fact, many islands outpaced Athens recently. A Savills report for the Mediterranean noted that strong economic performance in 2025–26 will support buyer confidence broadly, even as the market normalizes from its post-Covid surge.
  • Foreign Demand: Corfu’s reliance on international buyers is a strength if global economies remain stable. Currently, foreign investor interest remains high, and Greece is seen as comparatively affordable and safe. Any changes (positive or negative) in visa policies, geopolitical stability, or currency exchange rates could impact this. The diversification of foreign buyers (new interest from Asia, Middle East, etc.) is a promising sign that demand is broad-based investropa.com.
• Potential headwinds: On the downside, if inflation and interest rates stay high longer than expected, domestic buying power will be constrained, and some foreigners might pause investment. Also, if too many new properties come on the market at once (for instance, a glut of new-built villas or apartments), that could cap price growth. But in Corfu’s case, construction is relatively limited by land availability and regulations, so oversupply is not an immediate concern. One local worry is that prices have grown so much recently that some correction might occur – “slight reduction” in prices was expected by some agents in 2024 enimerosi.com. We may indeed see plateauing or minor dips in certain segments (e.g. over-priced old houses may adjust down). These are natural market fluctuations and not a crash scenario.

Bottom line: The 3–5 year forecast for Corfu real estate is broadly positive. Modest but steady price increases are projected for both homes and commercial assets. By 2028, residential prices could be on the order of 15–25% higher than today if the 5–7% annual gains materialize. Commercial property might be ~10–15% higher. Rental rates will likely rise as well, especially if tourism grows and housing supply remains constrained (good news for landlords, less so for tenants). Corfu’s market is maturing from a rapid rebound to a more sustainable growth phase, which is healthy. Of course, owners and buyers should monitor economic trends and local developments, but all current indicators show Corfu “holding strong” as one of Greece’s real estate bright spots going forward chaserealestatecorfu.com.

Legal and Tax Considerations for Buying Property in Corfu

Purchasing and owning property in Corfu (and Greece in general) requires understanding the legal process and tax obligations. Here’s a breakdown of key considerations, especially for foreign buyers:

Buying Process & Foreign Ownership: Greece warmly welcomes foreign buyers – non-Greeks have essentially the same property ownership rights as locals and can buy freehold property without significant restrictions globalpropertyguide.com. Corfu, in particular, has no special ownership restrictions despite being near a border; the same national laws apply as anywhere in Greece corfuhomes.gr. Before buying, a foreign purchaser must obtain a Greek Tax Identification Number (AFM) and usually open a Greek bank account to handle the transaction funds. These are standard steps: an AFM can be acquired via the local tax office (or through a lawyer with power of attorney) and is required for any property transfer or utility hookup. It’s also advisable to hire an independent local real estate lawyer early in the process. While not legally mandatory to have a lawyer for every sale, it is strongly recommended to perform due diligence – verifying the title is clean (no liens or ownership disputes), checking zoning and building permits, and ensuring the contract is sound globalpropertyguide.com globalpropertyguide.com. The purchase itself is done via a notary public who drafts the sale contract (Symvolaio Agoras) and ensures all taxes are paid globalpropertyguide.com. The notary is an impartial official in Greece who oversees the closing; both buyer and seller (or their attorneys) sign the final deed at the notary’s office.

Transaction Costs: When buying property, budget for around 7–11% on top of the purchase price for various fees and taxes globalpropertyguide.com. The largest component is the Property Transfer Tax, which is 3.09% of the assessed property value for most resale properties getgoldenvisa.com. (This rate is low compared to many countries – Greece reduced it from a former 10% rate some years ago to stimulate the market blackinvestor360.com.) If you are buying a brand-new property from a developer with a building permit issued after Jan 2018, note there was a 24% VAT applicable; however, Greece suspended VAT on new building sales as of 2020 and this suspension is extended through 2024 blackinvestor360.com. So most buyers currently pay only the 3.09% transfer tax, not VAT. Other costs include: Notary’s fee (~0.8–1% of property value + VAT), Land Registry fee (~0.5–0.7%), lawyer’s fee (~1–2%), and any real estate agent commission. Agents in Greece often charge 2%–2.5% to each party globalpropertyguide.com (though this can vary). In total, a buyer typically ends up paying ~7.5%–10% in closing costs (inclusive of all the above) globalpropertyguide.com. The seller usually pays their own agent’s commission and perhaps a lawyer, roughly 2–4%. It’s wise to clarify fees in advance, and always get receipts for taxes paid. Property transactions are registered with the Land Registry (or Cadastre) to officially record your ownership.

Ownership Taxes (ENFIA): Once you own property, you’ll pay an annual property tax called ENFIA (Uniform Real Estate Ownership Tax). The amount is calculated based on the property’s size, location, and “objective value” (government-appraised value). The basic ENFIA rate ranges from about €2.5 to €16 per square meter for residences res-greece.com – properties in higher-value zones or with larger size incur higher per-m² rates. In practice, many average homes in Corfu might see annual ENFIA bills on the order of a few hundred euros. For example, one owner of a ~170 m² house on a sizable land plot in northeast Corfu reported annual ENFIA around €900 facebook.com. The Greek tax authority updates and issues ENFIA bills each year (typically payable in monthly installments up to 10 months). Additional ENFIA “Supplementary Tax”: If an individual’s total real estate holdings in Greece exceed €250,000 in value, a supplementary tax applies on the value above that threshold. The rates are progressive – e.g. 0.1% on values €250k–€300k, rising to around 1% for amounts over €800k res-greece.com. This functions like a luxury/wealth tax on property, but note that for a primary residence exemption applies (so Greeks don’t count their main home towards it; foreigners might, unless they become tax residents). As an illustration: owning €500k of property would incur about €1,000/year extra in supplementary tax (0.5% on the €200k above €300k) res-greece.com.

Income Taxes: If you rent out your property, rental income is subject to Greek income tax for the owner. As of 2025, rental income for individuals is taxed on a sliding scale (15% on the first €12,000; 35% on €12k–€35k; 45% above €35k). There are allowable deductions (like maintenance costs, a portion of property tax, etc.), but it’s not a flat low rate, so factor that in when calculating net yield. For short-term rentals via platforms, Greece also requires registration of the property on the short-term lease registry and remitting occupancy taxes. If you’re a non-resident owner, Greece will tax your rental income earned in Greece, but double-tax treaties often allow you to credit that tax in your home country. It’s best to get advice from an accountant on optimizing rental income taxes and staying compliant.

Foreign Ownership Rules: There are effectively no prohibitions on foreigners buying in Corfu. A few border regions in Greece (certain areas in the Dodecanese, Thrace, etc.) require special permission for non-EU buyers, but Corfu is not subject to those restrictions corfuhomes.gr. EU citizens can purchase freely. Non-EU citizens can also buy without needing special permits – and they can take title individually or via a company. One very attractive policy has been the Golden Visa: if a non-EU citizen invested a sufficient amount in real estate, they and their family could obtain Greek (Schengen) residency permits. The classic threshold was €250,000 investment, which still applies in some parts of Greece chaserealestatecorfu.com. However, as mentioned, from August 2024 Greece introduced higher tiers: in the most popular areas (Athens, Thessaloniki, Mykonos, Santorini and any island with a population over 3,000) the minimum was raised to €500,000 or even €800,000 for a Golden Visa prestigiarealty.com. By those criteria, Corfu now falls under the €500k+ category (actually €800k according to the latest update prestigiarealty.com, since Corfu’s population is well above 3,000). This means a non-EU buyer would have to spend at least that amount on a single property to qualify for the residency. There is a grandfathering provision for deals in progress before the rule change (until Feb 2025) prestigiarealty.com. In any case, foreign buyers who don’t meet Golden Visa amounts can still buy – they just won’t get a residency visa automatically. Many Americans, Europeans, etc., purchase holiday homes without any residency program and simply enter on normal tourist visas (allowed 90 days in 180 for non-EU, which suffices for most vacation-home usage).

Inheritance and Estate Planning: If you buy in Corfu, you’ll want to consider Greek inheritance law. Greece imposes inheritance tax on property passed to heirs, but the good news is that immediate family members have a very large tax-free allowance. Specifically, spouses and direct descendants (children) can inherit the first €800,000 of property value tax-free corfuhomes.gr. Above that amount, a low tax rate up to 10% applies for those close kin corfuhomes.gr. More distant heirs (e.g. a niece, or an unrelated person) have smaller exemptions and higher rates, potentially up to 20–40%. There is no distinction based on the heir’s nationality – foreign heirs pay the same rates corfuhomes.gr. For example, if you leave a Greek property worth €500k to your child, no inheritance tax would be due in Greece (since under €800k). But if you left a €1 million villa, the child would pay ~10% on the €200k above the exemption (roughly €20k tax). It’s recommended to draft a Greek will if you own property, to ease the transfer process (otherwise Greek intestacy law, which follows a forced-heirship style, will dictate the split among family members). Greek inheritance law does have forced heirship provisions requiring a portion to go to children and spouse by default. Foreigners from common law countries should get legal advice on aligning their overall estate plan with Greek law. Additionally, note that if an heir is not a EU resident, they might need to get a tax number and involve a local notary to accept the inheritance. It can be paperwork-heavy, but not insurmountable.

Other Legal Considerations:

• Zoning and Building Regulations: Corfu has protected areas (coastal setbacks, Natura 2000 ecological zones, etc.) and strict rules in the Old Town (preservation of historic buildings). If you plan to build or significantly renovate, you must get permits and adhere to local planning laws. Always verify that any existing structure has the proper permit – unlicensed constructions or additions can be legalized but may incur fines. A survey by an engineer is commonly done to confirm the property’s legal status.
• Hiring Professionals: Use reputable English-speaking lawyers and notaries (many are experienced with foreign clients in Corfu). Also hire an engineer/architect to inspect the property, especially older homes, for structural soundness and permit compliance.
• Financing: Greek banks have started offering mortgages to foreigners again, but requirements are strict (e.g. large down payments, proof of income) globalpropertyguide.com. Mortgage interest rates in Greece are around 4–5% as of 2024 globalpropertyguide.com. Many foreign buyers instead finance through equity in their home country or pay cash.

In summary, buying property in Corfu as a foreigner is very feasible, just be prepared to follow Greek procedures and pay the requisite taxes. Greece’s transaction costs and property taxes are actually quite reasonable compared to many European countries (annual property taxes are lower than in the US on a similar home, for instance) getgoldenvisa.com. With the right legal guidance, you can safely navigate the process – thousands of foreigners now own their slice of Corfu’s paradise. Always ensure all obligations (tax filings, utility bill name changes, community fees if any) are settled to enjoy your property stress-free.

Infrastructure and Development: What’s New in Corfu?

Corfu is not only experiencing a real estate boom – it’s also seeing significant infrastructure upgrades and development projects that promise to enhance the island’s connectivity and livability in the coming years. These improvements are both a response to growing tourism and a driver of future real estate value. Here are the major developments to watch:

• Airport Expansion: Corfu International Airport (CFU) has gotten a major facelift. Under a concession by operator Fraport, a brand-new terminal and expanded facilities were completed by 2023, increasing capacity for flights investropa.com. The modernized airport can handle more passengers with greater comfort, which is crucial since arrivals have surged (a record 1.8 million+ travelers came through in 2023 investropa.com). Faster immigration, more gates, and improved services all make Corfu more accessible and attractive as a destination. For real estate, this means easier access for international buyers and tourists, likely boosting demand for properties. The airport upgrade, as analysts note, enhances the travel experience and makes the island even more attractive – feeding into rising property interest investropa.com.
• New Seaplane Network: In a bid to improve inter-island connectivity, Hellenic Seaplanes is launching an ambitious seaplane network across the Ionian. By early 2025, around 30 new waterfront seaplane terminals are set to be operational, including in Corfu and smaller isles like Paxos investropa.com. This means travelers (and locals) could hop on a seaplane from Corfu to reach nearby islands or coastal cities in minutes, bypassing slower ferries. Shorter travel times and greater connectivity will make Corfu a hub for exploring the region and likely increase its popularity. From a development perspective, the seaplane port in Corfu (expected at the main port or a marina) is a new piece of infrastructure that could stimulate investment in those port areas (think hotels, restaurants, etc., catering to seaplane tourists).
• Road and Transport Improvements: Corfu’s road network has historically been narrow and winding, but there are efforts to improve it. Recent years saw upgrades like the completion of portions of the north-south Corfu arterial road and improvements around Corfu Town’s bypass to alleviate traffic. Looking ahead, local authorities are planning better road links to the island’s south (Lefkimmi area) and to busy tourist sites (such as widening and straightening sections towards Paleokastritsa). While no major new highway is being built (Corfu’s terrain makes that challenging), incremental improvements will enhance accessibility to less-developed regions – a factor identified as supporting real estate values island-wide chaserealestatecorfu.com. Public transport (buses) is also set to get upgrades, with new buses and routes to serve villages and resort zones more frequently, especially in summer. These changes will help residents and make property in outlying areas more viable for year-round living.
• Urban Planning and Housing Initiatives: Corfu Town being a UNESCO World Heritage site means strict building regulations – you won’t see modern condos sprouting in the Old Town. This preserves the character (a plus for tourism and property values) but limits new housing supply in town. The local government has been grappling with a housing shortage for workers and locals, in part due to so many properties going to short-term rentals enimerosi.com enimerosi.com. In response, there is talk of incentivizing residential development in the suburbs and cracking down on unregistered Airbnbs. While concrete measures are still forming, we might see new affordable housing projects for locals, or public-private partnerships to convert some unused buildings into rental units. For example, old public buildings or unused military facilities could be repurposed. Any such initiatives could slightly increase long-term rental supply, but also signal that Corfu is actively managing sustainable development – a positive for investors who worry about community pushback.
• Tourism Infrastructure & New Resorts: As noted, several new luxury resorts and hotels have recently opened or are under construction:
  • The Ikos Odisia (opened 2023) added nearly 400 high-end rooms in Dassia saniikos.com.
  • Ikos Andrews (hypothetical name) – Another large Ikos resort is being developed on a huge land parcel in Kassiopi (Erimitis area) by NCH Capital, following a high-profile privatization sale. This project includes luxury villas and a small marina, scheduled in phases through 2025+. It faced environmental protests but is moving forward, bringing infrastructure like new roads, utilities, and job opportunities to northeastern Corfu.
  • Domes Miramare (opened 2019 and expanding) and Angsana Corfu (opened 2021) are examples of international-branded resorts that recently set up in Corfu. These resorts often come with spa, dining, and recreational facilities open to outside guests, enriching the island’s offerings.
  • Mayor Hotels is refurbishing multiple properties (e.g., San Stefano resort in northwest, and a new project in the south).
  • Marina developments: Corfu already has the large Gouvia Marina, but there are plans to upgrade marina facilities in places like Benitses and Kassiopi to attract more yacht tourism. A new marina or expansion can turn a sleepy coastal village into a luxury hotspot, raising surrounding property values.
  • Cruise port enhancements: Corfu’s port is one of the Med’s busiest cruise stops. There are ongoing works to improve the cruise terminals and possibly add another pier to accommodate mega-ships. Better port facilities (and managing the flow of thousands of cruise tourists daily) will sustain Corfu Town’s booming retail and tour sector.
• Utilities and Environment: No infrastructure discussion is complete without mentioning utilities. Corfu has historically struggled with waste management (famously, garbage pileups made news in 2018). The situation is improving: a new integrated waste management plant is being constructed, and better waste collection has been implemented, aiming for a cleaner island – vital for tourism and quality of life. Water supply and power grids are also being upgraded incrementally, often funded by EU cohesion funds. Additionally, the island is part of the GR-IX “Smart Island” initiative to improve broadband internet and 5G coverage. Fiber-optic networks have been extended in Corfu Town and some suburbs, and 5G mobile service is live in many areas. This digital infrastructure boost makes Corfu more attractive to remote workers and businesses, a trend aligned with the influx of digital nomads to Greek islands investropa.com.
• Sustainable Development: Environmental and sustainable development is a focus, especially given Corfu’s natural beauty. The Sani/Ikos group, for instance, implements strong sustainability measures (100% renewable electricity, zero plastic goals) in its resorts saniikos.com. The municipality is also exploring renewable energy projects (like solar parks) to reduce the island’s reliance on oil-based power. These efforts not only protect Corfu’s environment but also can create new jobs and stable energy supply, indirectly benefitting real estate (solar farms, however, have caused some NIMBY concerns in rural zones). Overall, the island’s development strategy is to increase high-quality tourism while preserving heritage and nature – finding this balance will be key to Corfu’s long-term success.

In conclusion, Corfu’s infrastructure is evolving to meet modern needs: a better airport, improved connectivity (air and sea), gradual transport and utility upgrades, plus significant new tourism investments. All of these enhance the island’s appeal and likely its property values. For property owners, improved infrastructure means easier access to your home and potentially higher guest satisfaction if renting it out. For prospective investors, the slate of projects signals that Corfu is on an upward trajectory with strong government and private sector support. As one report noted, the Ionian Islands’ increased accessibility and popularity are “driving demand for properties” and pushing prices up investropa.com. Corfu in 2025 and beyond is not just a timeless paradise but also an island on the move – blending its rich history with smart growth for the future.

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Sources:

• Green Acres, “Real estate market in Corfu: News, prices and trends”, 16 April 2025 green-acres.gr green-acres.gr green-acres.gr.
• Indomio Greece, Housing prices in Corfu (May 2025 data) indomio.gr indomio.gr.
• Enimerosi (Corfu news outlet), “High demand from foreign nationals for luxury properties in Corfu”, Sept 2023 enimerosi.com enimerosi.com enimerosi.com enimerosi.com.
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• Global Property Guide, “How to Buy Property in Greece – Guide for Foreigners”, 2024 globalpropertyguide.com globalpropertyguide.com globalpropertyguide.com.
• Judicare Law, “Inheritance Tax for Greek Property” (summary of Greek inheritance tax rates) corfuhomes.gr.