Greece Property Buyer’s Guide

Your Complete Introduction to Buying a Home in Greece

Why Buy Property in Greece

Greece offers one of the most attractive lifestyle and investment combinations in Europe. With its iconic islands, historic cities, warm climate, and strong tourism market, Greece appeals to buyers seeking holiday homes, retirement properties, or rental investments.

Key advantages include:

• Mediterranean climate with long summers

• Strong tourism and rental demand

• Affordable property prices in many regions

• Safe, relaxed lifestyle

• Excellent cuisine, culture, and natural beauty

• Straightforward buying process for foreign buyers

1. Choosing the Right Region

Greece offers a wide range of locations, each with its own lifestyle and investment profile.

Athens & Athens Riviera

City living, year‑round rental demand, coastal suburbs, strong investment potential.

Crete

Large island with diverse landscapes, affordable homes, strong tourism.

Cyclades (Mykonos, Santorini, Paros, Naxos)

Iconic whitewashed villages, premium prices, high rental yields.

Ionian Islands (Corfu, Zakynthos, Kefalonia)

Green landscapes, beaches, strong British and European buyer demand.

Peloponnese

Historic towns, coastal villages, excellent value, quieter lifestyle.

Thessaloniki & Northern Greece

Urban living, universities, growing investment market.

2. Understanding the Buying Process

The Greek buying process is structured and legally secure. Key stages include:

1. Offer & Reservation

Buyer submits offer; reservation agreement may be signed.

2. Legal Due Diligence

Lawyer checks title deeds, planning permissions, debts, and boundaries.

3. Preliminary Agreement (if used)

Optional but common for complex transactions.

4. Final Contract Signing

Signed at the notary; buyer pays balance.

5. Registration

Property registered in buyer’s name at the Land Registry or Cadastre.

3. Essential Documents You’ll Need

To purchase property in Greece, you will require:

• Passport or national ID

• Greek tax number (AFM)

• Greek bank account (recommended)

• Proof of funds

• Power of Attorney (optional, for remote purchase)

Your lawyer can assist with obtaining the AFM.

4. Legal Due Diligence

Your lawyer will verify:

• Title deeds and ownership history

• Land registry or cadastre records

• Planning permissions and building legality

• Outstanding debts or mortgages

• Boundary accuracy

• Zoning and coastal law compliance

• Energy performance certificate

This ensures the property is legally sound before you commit.

5. Costs and Taxes to Expect

Typical purchase costs range from 6% to 10% of the property price.

Transfer Tax

• 3% on resale properties

VAT (if applicable)

• 24% on certain new builds (often suspended)

Other Costs

• Notary fees

• Legal fees

• Land registry fees

• Survey/inspection costs

Your lawyer will provide a full cost breakdown.

6. Financing and Mortgages

Greek banks offer mortgages to foreign buyers, typically:

• Up to 60–70% LTV

• Terms up to 20–25 years

• Income verification required

• Life and property insurance often required

Cash purchases are common for speed and simplicity.

7. Property Types in Greece

Greece offers a wide variety of options:

• Island villas

• Coastal homes

• City apartments

• Village stone houses

• Modern new builds

• Renovation projects

• Luxury holiday villas

Each comes with different ownership costs and rental potential.

8. Rental Opportunities

Greece is one of Europe’s strongest tourism markets.

Short‑Term Rentals (Airbnb / Holiday Homes)

• High demand in islands and tourist zones

• Registration required with AADE

• Strong yields in peak season

Long‑Term Rentals

• Stable income

• Popular in Athens and Thessaloniki

Seasonal Rentals

• Strong demand in coastal and island areas

9. Ongoing Ownership Costs

Budget for:

• ENFIA (annual property tax)

• Utilities

• Insurance

• Maintenance and repairs

• Property management (if renting or living abroad)

• Communal fees (if part of a complex)

Costs vary by region and property type.

10. Living in Greece

Greece offers an exceptional lifestyle:

• Warm Mediterranean climate

• Beautiful beaches and islands

• Safe, relaxed environment

• Excellent cuisine and culture

• Friendly communities

• Affordable cost of living

• Strong expat presence in many regions

Ideal for holidays, retirement, or full‑time living.

Summary

Buying property in Greece is a secure, structured process with excellent lifestyle and investment benefits. With the right guidance, your Greek home can be a rewarding long‑term asset.