Buying Property in Greece: The Complete Guide for Foreigners

Can Foreigners Buy Property in Greece?

Yes, foreigners can buy property in Greece without restrictions. Citizens from the EU, UK, US, Canada, Australia, and most other countries can purchase residential and commercial real estate throughout the country.

There are only two notable exceptions:

• Border regions: Properties within 20 kilometers of the Greek border (near Turkey, Bulgaria, Albania, and North Macedonia) require special permission from the Greek Ministry of Defense. This applies to parts of Thrace, Macedonia, and some Aegean islands close to Turkey. The permit process takes several months but is generally approved for legitimate buyers.
• Certain strategic islands: A few islands near the Turkish border may have additional restrictions, though popular destinations like Rhodes and Kos are unrestricted.

For the vast majority of Greece—including Athens, Thessaloniki, the Cyclades, Crete, Corfu, and the Peloponnese—foreigners face no additional requirements compared to Greek citizens.

Non-EU Buyers: Visa Considerations

Non-EU citizens can buy property freely but should understand the residency implications:

• Property ownership alone does not grant residency. Without a visa, non-EU citizens can only stay in Greece for 90 days within any 180-day period under Schengen rules.
• The Golden Visa program allows non-EU buyers to obtain a five-year residence permit through property investment, with minimum thresholds of €400,000–€800,000 depending on location (see Golden Visa section below).
• Other visa options include the D7 independent means visa for retirees and the digital nomad visa for remote workers. For full details, see our guide to visas in Greece.

The Step-by-Step Property Buying Process

Buying property in Greece follows a well-established legal process. While the system differs from Anglo-Saxon countries, it's straightforward with proper professional guidance.

Step 1: Obtain Your Greek Tax Number (AFM)

Before purchasing property—or conducting most official transactions in Greece—you need an AFM (Arithmos Forologikou Mitroou), the Greek tax identification number.

How to get your AFM:

• Visit your local Greek tax office (Eforia) or authorize a lawyer to act on your behalf
• Bring your passport (original and photocopy) and proof of address from your home country
• Non-EU nationals may need to appoint a fiscal representative in Greece
• The process typically takes one day in person or 1-2 weeks through a representative

The AFM is free to obtain and remains valid indefinitely. You'll need it for the property purchase, opening a Greek bank account, signing utility contracts, and paying taxes.

For detailed instructions, see our guide on obtaining a Greek AFM tax number.

Step 2: Hire a Lawyer (Mandatory)

Using a lawyer for property purchases in Greece is effectively mandatory. While not technically required by law, the complexity of Greek property law makes professional legal assistance essential. No notary will proceed without verifying that proper due diligence has been conducted.

Your lawyer will:

• Conduct title searches at the Land Registry or Cadastre
• Verify the seller has legal authority to sell
• Check for encumbrances, mortgages, or liens
• Confirm the property complies with building permits and planning regulations
• Review and draft contracts
• Represent you at the notary signing (with power of attorney if you can't attend)
• Handle tax declarations and registrations

Choosing a lawyer:

• Select an independent lawyer—never use one recommended by the seller or their agent
• Ensure they speak English fluently and have experience with foreign buyers
• Verify they're registered with the local Bar Association
• Expect fees of 1-2% of the property value, with a minimum of around €1,500-2,500

Step 3: Find Your Property

With your AFM obtained and lawyer retained, you can begin your property search.

Property search resources:

• Greek real estate portals: Spitogatos, XE Property, and Tospitimou list thousands of properties
• International portals: Rightmove Overseas, Idealista, and Green-Acres feature Greek listings
• Local estate agents: Particularly valuable for off-market properties and local knowledge
• Golden Visa specialists: If you're buying for residency, agencies specialize in qualifying properties

Estate agent fees: Real estate agents in Greece typically charge 2-5% commission, usually split between buyer and seller. The seller's portion is often built into the asking price. Clarify who pays what before engaging an agent.

Step 4: Make an Offer and Sign the Preliminary Agreement

Once you've found a property, the purchase process involves two contracts:

Reservation Agreement (Optional)

For popular properties, a reservation agreement (protyposi) takes the property off the market for an agreed period—typically 2-4 weeks. You'll pay a small non-refundable deposit, usually €3,000-10,000 depending on the property value.

Preliminary Contract (Compromis de Vente)

This binding private contract between buyer and seller establishes:

• The agreed purchase price
• Payment terms and schedule
• Timeline for the final contract
• Any conditions (such as satisfactory survey results)
• The deposit amount (typically 10% of the purchase price)

Important: Once signed, this contract is legally binding. If you withdraw, you forfeit the deposit. If the seller withdraws, they must return double the deposit. Your lawyer should review this contract thoroughly before you sign.

Step 5: Conduct Due Diligence

Before proceeding to the final contract, your lawyer will conduct comprehensive due diligence:

Title Search

Greece is transitioning from the old Land Registry system to a modern Cadastre (Ktimatologio). Your lawyer will check:

• The seller's legal ownership and right to sell
• The complete chain of title
• Any mortgages, liens, or encumbrances
• Boundary disputes or overlapping claims
• Rights of way or easements

Planning and Building Permits

Greek property law has strict requirements regarding building legality:

• Verify the building permit (oikodomiká adeía) matches what was actually built
• Check for any building code violations or unauthorized extensions
• Confirm the property has a valid energy performance certificate (EPC)
• For older properties, verify compliance with successive amnesties for building irregularities
• Ensure the property isn't subject to archaeological restrictions (particularly relevant near historical sites)

Property Inspection

While not as common as in some countries, getting a survey is wise—especially for older buildings. Greece sits in an earthquake zone, so properties should comply with the Seismic Code.

Step 6: Sign the Final Contract at the Notary

The final sale contract (symvólaio) must be signed before a Greek notary public (symvoliográfos). The notary:

• Is a public official who ensures the transaction's legality
• Prepares the final contract based on your lawyer's input
• Verifies all documentation and tax compliance
• Reads the contract aloud (in Greek, though translation can be provided)
• Witnesses signatures from both parties
• Submits the contract for registration

Who attends: The buyer (or their lawyer with power of attorney), the seller (or their representative), both lawyers, the notary, and an interpreter if needed.

Payment: The balance of the purchase price is typically paid via bank transfer at signing. You'll need a Greek bank account for this transaction.

Step 7: Register the Property

After signing, the contract must be registered at the Land Registry or Cadastre to complete the transfer of ownership. Your lawyer typically handles this.

Registration must occur within two months of signing. Until registered, the transfer isn't legally complete—registration is what gives you full legal title.

Registration costs: 0.3-0.5% of the property value.

Step 8: Transfer Utilities and Pay Taxes

Post-purchase tasks include:

• Transferring electricity (DEI), water, and internet accounts to your name
• Setting up annual property tax (ENFIA) payments
• Registering with the local municipality
• If renting the property, obtaining the necessary tourist license

Costs of Buying Property in Greece

Budget approximately 8-12% on top of the purchase price for transaction costs. Here's the breakdown:

Transfer Tax (FMA)

3.09% of the property's taxable value (which may differ from the purchase price). This is the primary government tax on property purchases.

Note: If buying a new-build property directly from a developer who is VAT-registered, VAT at 24% may apply instead of transfer tax. However, there are currently exemptions for residential properties, making most purchases subject only to the 3.09% transfer tax.

Notary Fees

1-2% of the property value, with minimum fees applying to lower-value properties. The notary is a public official whose fees are regulated.

Legal Fees

1-2% of the property value, negotiable for higher-value purchases. Budget at least €1,500-2,500 for straightforward transactions.

Estate Agent Commission

2-5% of the purchase price, typically split between buyer and seller. Clarify the arrangement in advance.

Land Registry Fees

0.3-0.5% of the property value for registration.

Example Cost Calculation

For a €300,000 property:

• Transfer tax (3.09%): €9,270
• Notary (1.5%): €4,500
• Lawyer (1.5%): €4,500
• Registration (0.4%): €1,200
• Total transaction costs: Approximately €19,470 (6.5%)

Add estate agent fees of 2-3% if applicable.

Golden Visa: Residency Through Property Investment

Greece's Golden Visa program allows non-EU citizens to obtain a five-year residence permit through property investment. Since its launch in 2013, it has been one of Europe's most popular residency-by-investment programs.

Investment Thresholds (2026)

Greece introduced a tiered zone system for Golden Visa investments:

€800,000 Zone (High-Demand Areas)

• Attica (Athens and surroundings)
• Thessaloniki municipality
• Mykonos
• Santorini
• Islands with populations over 3,100

€400,000 Zone (Medium-Demand Areas)

• All other areas not listed above
• Most Greek islands
• Mainland tourist regions

€250,000 Zone (Specific Conditions)

• Properties classified as listed buildings requiring restoration
• Commercial properties being converted to residential use
• Properties in industrial areas being converted to residential

Important requirements:

• The investment must be in a single property of at least 120 square meters
• The property cannot be divided or rented short-term (for residency purposes)
• Prices are per investor—couples must invest the threshold amount each or jointly in a property meeting the threshold

Golden Visa Benefits

• Five-year residence permit, renewable indefinitely while maintaining investment
• No minimum stay requirement
• Visa-free travel throughout the Schengen Zone (90 days in any 180-day period)
• Access to Greek public healthcare and education
• Include spouse, children under 21, and parents of both spouses
• Path to permanent residency after five years
• Path to citizenship after seven years of residence (requires actual presence and Greek language proficiency)

For detailed visa information, see our comprehensive guide to visas in Greece.

Property Types in Greece

Greece offers diverse property options across every budget:

City Apartments

Athens and Thessaloniki offer apartments at prices well below other European capitals. A central Athens apartment can be purchased from €100,000-150,000, with renovated properties in prime neighborhoods like Kolonaki or Plaka reaching €4,000-6,000 per square meter.

Traditional Village Houses

Stone-built houses in rural areas and villages offer character at affordable prices. These often require renovation but provide authentic Greek living experiences. Prices can start from €50,000-100,000 for properties needing work.

Island Villas

White-washed Cycladic villas with sea views represent the quintessential Greek dream. Prices vary enormously—from €200,000 for modest properties on less-touristed islands to several million euros on Mykonos and Santorini.

Beachfront Properties

Coastal properties on the mainland and islands command premiums. The Peloponnese, Halkidiki, and Crete offer beachfront options at more accessible prices than the Cyclades.

New Developments

Modern apartment complexes and villa developments cater to international buyers, particularly around Athens' southern suburbs (the Riviera) and on popular islands.

Private Islands

Greece has approximately 6,000 islands, many uninhabited and privately ownable. Prices range from a few hundred thousand euros for basic undeveloped islets to tens of millions for developed private islands.

Regional Guide: Where to Buy

Athens and Attica

Greece's capital combines ancient history with modern urban living. Key areas include:

• City center (Plaka, Kolonaki, Exarchia): Historic neighborhoods with high rental demand
• Southern suburbs (Glyfada, Voula, Vouliagmeni): The "Athens Riviera" with beaches and upscale living
• Northern suburbs (Kifisia, Marousi): Green, family-friendly areas with good schools
• Piraeus: Port city with improving infrastructure and lower prices

Price guide: €2,000-6,000/sqm depending on area and condition

Thessaloniki

Greece's second city offers excellent value with a vibrant cultural scene, waterfront promenade, and strong university presence.

Price guide: €1,500-2,500/sqm

The Islands

Cyclades (Mykonos, Santorini, Paros, Naxos): Iconic white architecture, premium prices, strong rental yields from tourism. Mykonos and Santorini are the most expensive; Naxos and Paros offer better value.

Price guide: €3,000-8,000/sqm (Mykonos/Santorini can exceed €10,000/sqm)

Crete: Greece's largest island offers diverse landscapes, year-round living, established expat communities, and more affordable prices than the Cyclades.

Price guide: €1,500-3,500/sqm

Corfu and the Ionian Islands: Venetian architecture, green landscapes, and good access from Western Europe. Strong British expat presence.

Price guide: €2,000-4,000/sqm

Dodecanese (Rhodes, Kos): Historic islands with good infrastructure and year-round communities. Popular with British and German buyers.

Price guide: €1,500-3,000/sqm

The Mainland

Peloponnese: Beautiful coastline, ancient sites (Olympia, Epidaurus), improving infrastructure, and excellent value.

Halkidiki: Three-pronged peninsula near Thessaloniki with beautiful beaches and growing development.

Pelion: Mountain villages with traditional architecture and proximity to both mountains and sea.

Price guide: €1,000-2,500/sqm across mainland areas

Due Diligence: Protecting Your Investment

Property due diligence in Greece requires particular attention to several issues:

Title Verification

The Greek Cadastre system is still being rolled out across the country. In areas not yet covered, title searches require examining records at the local Land Registry, which can be fragmented and complex. Your lawyer must verify:

• Unbroken chain of title for at least 20 years
• No competing claims or disputes
• Clear boundaries matching the property

Building Legality

Greece has experienced significant unauthorized construction historically. Successive amnesty laws have allowed regularization of many properties, but issues remain. Verify:

• Original building permit exists
• Actual construction matches the permit
• Any modifications were properly permitted or regularized under amnesty
• The property has valid completion certificates

Archaeological Restrictions

Properties near archaeological sites may face restrictions on modifications or development. The Archaeological Service must approve any building works in protected zones.

Environmental Considerations

Check for forest designations that restrict building, coastal setback requirements, protected natural areas, and flood or erosion risks.

Ongoing Costs of Property Ownership

ENFIA (Unified Property Tax)

All property owners in Greece pay annual ENFIA (Eniaíos Fóros Idioktsías Akiníton). The tax is calculated based on property location and zone values, size and use (residential/commercial), age and floor level, and number of facades.

For residential properties, annual ENFIA typically ranges from €200-500 for modest apartments to several thousand euros for larger or prime properties. The tax is assessed automatically based on your property declaration (E9 form) and payable in installments.

Tax reductions available:

• 20% reduction for insured properties (building insurance)
• 50% reduction for properties in small villages (under 1,500 inhabitants)
• Exemptions for low-income owners of primary residences

Utility Costs

Monthly utility costs vary by property size and location:

• Electricity: €50-150/month for an apartment
• Water: €20-50/month
• Heating: €100-300/month during winter (depends on system)
• Internet/TV: €30-50/month

Community Fees (Koinochrista)

Apartments and properties within complexes pay monthly community fees for shared maintenance, cleaning, and building insurance. Typical costs: €50-150/month.

Income Tax on Rental Income

If you rent your property, rental income is taxed at progressive rates:

• Up to €12,000: 15%
• €12,001-35,000: 35%
• Over €35,000: 45%

Short-term rentals (under 90 days) require registration and a license.

Frequently Asked Questions

Do I need to be resident in Greece to buy property?

No. Non-residents can freely purchase property in Greece. However, non-EU citizens without a visa are limited to 90 days' stay within any 180-day period, regardless of property ownership.

Can I get a mortgage as a foreigner?

Yes. Greek banks offer mortgages to non-residents, typically up to 60-70% loan-to-value. Requirements include proof of income, credit checks, and property valuation. Many foreign buyers prefer to finance through equity release in their home country.

How long does the buying process take?

From offer acceptance to completion, expect 2-3 months for straightforward purchases. Complex title issues, properties requiring regularization, or new builds may take longer.

Do I need to visit Greece to buy?

You can complete much of the process remotely through power of attorney, but at least one visit is strongly recommended for property viewing and signing. Many buyers make 2-3 trips during the process.

What happens if I don't speak Greek?

The property purchase process is conducted in Greek, but translation services are available. Your lawyer will explain all documents, and interpreters can attend the notary signing. In tourist areas and with international agents, English is widely spoken.

Can I rent out my property?

Yes, but short-term rentals (under 90 days, such as Airbnb) require registration with the tax authority and a property license number. Long-term rentals have fewer requirements but rental income is taxable.

Is buying property in Greece a good investment?

Greek property prices remain below their 2008 peak and significantly more affordable than most Western European markets. Strong tourism creates rental demand, particularly on the islands. The Golden Visa program has driven foreign investment. However, property investment carries risks, and professional advice is recommended.

What are the main risks when buying in Greece?

Key risks include title issues from Greece's complex historical land records, unauthorized building works requiring regularization, properties in border zones requiring special permits, and currency risk for non-eurozone buyers. These risks are manageable with proper legal due diligence from an experienced lawyer.

Final Thoughts

Buying property in Greece offers access to one of Europe's most affordable and beautiful Mediterranean destinations. The process is well-established, and with proper professional guidance—particularly from an independent lawyer—foreign buyers can navigate the system successfully.

Whether you're seeking a holiday home, retirement destination, investment property, or pathway to EU residency through the Golden Visa program, Greece provides options across every budget and lifestyle preference.

Start by obtaining your AFM tax number, opening a Greek bank account, and engaging an experienced property lawyer. With these foundations in place, you'll be well-prepared to find your place in Greece.