Purchasing property in Greece presents international buyers with a compelling blend of Mediterranean lifestyle, a stable legal framework, and growing real estate demand. Whether you’re eyeing a sun-drenched island retreat or a modern flat in Athens, Greece remains an appealing destination for both personal enjoyment and sound investment. In particular, favorable regulations—especially for EU and non-EU buyers—and the Golden Visa residency pathway reinforce Greece’s attractiveness for global investors. This guide equips you with clear, up-to-date insights and the expert guidance needed to confidently navigate the buying process.
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Key Advantages for International Buyers
Buying property in Greece comes with several compelling benefits that appeal to both lifestyle seekers and investors. These advantages extend beyond beautiful scenery, offering tangible financial and legal incentives.
Key benefits of buying property in Greece:
- Straightforward purchase process: Both EU and non-EU citizens can purchase real estate without complex restrictions, provided all legal steps are followed.
- Golden Visa residency option: Non-EU buyers can qualify for a renewable five-year residency permit through real estate investment, starting from €250,000 in most regions and €500,000 in high-demand areas like central Athens, Thessaloniki, Mykonos, and Santorini.
- Attractive rental yields: Popular tourist destinations and cities such as Athens offer high short-term and long-term rental demand.
- Strong potential for capital growth: Ongoing infrastructure projects and tourism growth support long-term property value appreciation.
- Favorable living environment: Greece offers an excellent quality of life, mild climate, and access to EU healthcare and education systems.
These factors combine to make Greece one of Europe’s most accessible and rewarding real estate markets for foreign investors, particularly for those looking to secure a property while also gaining residency rights.
Understanding the Financial Commitment: Beyond the Purchase Price
When planning to buy property in Greece, it’s essential to budget for more than just the agreed purchase price. Several mandatory taxes and fees are involved in the process. Understanding these costs upfront helps avoid surprises and ensures a smooth transaction.
Below is an overview of the most common additional expenses associated with property purchases in Greece:
| Cost Type | Description | Approximate Cost |
| Property Transfer Tax | Paid to the state, based on the property’s objective value (market-assessed). | 3% of the purchase price |
| Notary Fees | Required for drafting and authenticating the final sales contract. | ~1% – 2% of purchase price |
| Land Registry Fees | For registering the new title deed under the buyer’s name. | ~0.5% – 1% of purchase price |
| Legal Fees | Independent lawyer fees for due diligence and transaction oversight. | ~1% – 2% of purchase price |
| VAT (if applicable) | Only charged on sales of newly built properties from developers. | 24% |
Important Note: VAT does not apply to resale properties. For newly constructed homes, the 24% VAT can significantly increase the total purchase cost, so it’s vital to confirm whether the property is subject to this tax before committing.
Proper financial planning should also include budgeting for potential renovations, annual property taxes, and utilities setup, especially if you plan to rent the property.
Step-by-Step Process to Buy Property in Greece
Buying property in Greece involves a clearly defined sequence of steps to ensure legal compliance and secure ownership. Following this process carefully protects you from potential disputes and guarantees a smooth transaction.
Here’s a step-by-step guide for international buyers:
- Obtain a Greek Tax Identification Number (AFM):
This is mandatory for any property transaction. Both EU and non-EU citizens must apply for an AFM at a local tax office or through legal representation.
- Open a Greek Bank Account (optional but recommended):
While not always required, having a local bank account simplifies payments for taxes, fees, and future property-related expenses.
- Engage Professional Experts:
Hire an independent lawyer specializing in Greek real estate to handle due diligence and oversee all legal steps. Consider working with a licensed real estate agent familiar with the local market.
- Conduct Property Due Diligence:
Your lawyer will verify ownership, check for mortgages or liens, confirm zoning and building permits, and ensure there are no legal disputes involving the property.
- Sign the Preliminary Agreement:
Once due diligence is complete, a preliminary contract is signed, and a deposit (usually 10% of the agreed price) is paid to secure the property.
- Pay Property Transfer Tax:
The tax must be paid before the final contract is signed. Your lawyer or notary will handle the necessary documentation.
- Finalize the Sale at the Notary Public:
The notary drafts and oversees the signing of the final sales contract, ensuring all legal formalities are met.
- Register the Title Deed:
After signing, the property must be officially registered at the Land Registry or Cadastre to finalize the transfer of ownership.
- Apply for the Golden Visa (if applicable):
If your investment meets the Golden Visa threshold, submit your application for a five-year renewable residency permit through the Ministry of Migration.
Tip: Non-EU buyers should start preparing Golden Visa documentation early, as processing can take several weeks, and requirements may differ depending on the property’s location.
Golden Visa and Market Trends
The Golden Visa program is one of Greece’s strongest incentives for non-EU property investors. It offers a straightforward path to residency, making Greece highly attractive for global buyers seeking both lifestyle and investment benefits.
Golden Visa Rules for 2025
As of August 1, 2024, Greece introduced new thresholds to reflect demand in different areas:
- €250,000 minimum investment — applies to most regions, including smaller cities and rural areas.
- €500,000 minimum investment — required for high-demand locations such as:
- Central Athens
- Thessaloniki
- Mykonos
- Santorini
- Central Athens
The residency permit is valid for five years and can be renewed indefinitely as long as the property remains in your ownership. It also provides free travel across the Schengen Zone for you and your immediate family members.
Key advantages of the Greek Golden Visa:
- No minimum stay requirement in Greece to maintain residency.
- Option to rent out the property for additional income.
- Family inclusion: spouse, children up to 21, and dependent parents can be included in the same application.
- Clear route to permanent residency and eventual citizenship if residency conditions are met.
Greek Real Estate Market Outlook
The Greek real estate market has experienced steady growth over the past few years, fueled by tourism recovery, infrastructure development, and foreign investment.
- Athens remains the leading market for urban apartments, especially in areas undergoing regeneration such as The Ellinikon project.
- Island destinations like Crete, Rhodes, and Corfu attract lifestyle buyers and investors seeking holiday rental income.
- High-demand luxury markets such as Mykonos and Santorini continue to see premium prices due to limited supply and global appeal.
Foreign demand is expected to remain strong through 2025, especially as Greece offers lower property prices compared to other Southern European countries like Spain, Italy, or Portugal.
Practical Tips and Expert Advice
Buying property in Greece is a rewarding process, but it requires careful planning and attention to detail. By understanding the legal framework, financial obligations, and market conditions, you can avoid common pitfalls and protect your investment.
Here are some final tips to ensure a smooth experience:
- Always hire an independent lawyer:
Never rely solely on the seller’s or developer’s legal team. An independent lawyer will safeguard your interests and handle due diligence.
- Verify all property documents:
Ensure the title deed is clear, free of liens, and that the property complies with building and zoning regulations.
- Plan for extra expenses:
Budget for notary, legal, and registration fees, as well as annual property taxes like ENFIA (Unified Property Tax).
- Understand local regulations for rentals:
If you plan to rent out your property, especially short-term through platforms like Airbnb, make sure to comply with Greek tourism licensing laws.
- Stay updated on Golden Visa rules:
Thresholds and qualifying areas can change, so check the latest official announcements before finalizing a purchase.
- Work with trusted local professionals:
A reputable real estate agent and tax advisor will make the process smoother and help you avoid scams or overpriced properties.
Why Greece Remains a Strong Investment Destination
Despite changes in residency rules and market fluctuations, Greece continues to offer excellent opportunities for international property buyers:
- Entry prices are still lower than in other Mediterranean hotspots.
- The tourism industry supports stable rental income, especially in urban centers and popular islands.
- Ongoing infrastructure projects like new metro lines and port upgrades drive long-term property value growth.
- Residency and citizenship options add significant non-financial value for investors.
By approaching the process strategically and seeking professional guidance, you can secure not only a beautiful home in Greece but also a strong, stable investment for the future.
