Foreign Real Estate Purchase in Greece: Complete Guide

Published on April 23, 2026 and written by Cyril Jarnias

Greece, with its picturesque landscapes, Mediterranean climate, and rich cultural heritage, is attracting more and more foreign investors to the real estate sector. Whether you dream of a villa on an idyllic island or a pied-à-terre in a historic city, buying property in Greece can prove to be a wise investment. However, the property acquisition process for non-residents has its own particularities. This article will guide you through the essential steps, from regulations to tax aspects, to carry out your real estate project with peace of mind.

The Greek Real Estate Market: An El Dorado for Foreign Investors

The Greek real estate market has experienced a real boom in recent years, attracting many international investors. This attractiveness is due to several factors:

Still Competitive Prices: Despite a steady increase, Greek real estate remains more affordable than in other popular Mediterranean destinations like Spain or France. This accessibility offers interesting potential for capital appreciation in the medium and long term.

A Favorable Tax Framework: Greece has implemented incentive measures to attract foreign investors, including the absence of capital gains tax upon the resale of a property.

The Golden Visa Program: This scheme allows non-European investors to obtain a residence permit in exchange for a real estate investment of at least €250,000. This permit offers the possibility of free movement within the Schengen Area, making it a major asset for many international buyers.

A Dynamic Rental Market: With booming tourism, especially on the islands and coastal areas, property owners can benefit from attractive rental yields, particularly during the high season.

According to the latest available data, real estate prices in Greece increased by an average of 7.5% in 2024, with peaks of up to 12% in some sought-after areas like Athens or the Cyclades. This upward trend is expected to continue, fueled by sustained demand and positive economic prospects for the country.

Regulations and Obligations: Navigating Greek Waters

A Legal Framework Open to Foreign Investors

Contrary to some misconceptions, Greece welcomes foreign investors in the real estate sector. The Greek legal framework does not impose major restrictions on non-residents wishing to purchase property, with a few exceptions:

• Border areas and certain islands are subject to restrictions for national security reasons. Purchasing in these areas requires special authorization from the Ministry of Defense.
• Agricultural land is subject to specific regulations aimed at preserving its use.

The Step-by-Step Purchase Process

1. Obtain a Greek Tax Number (AFM): This is the first essential step for any foreign buyer. This number is required for all financial transactions in Greece.

2. Open a Greek Bank Account: Although not mandatory, it greatly facilitates transactions and the payment of local taxes.

3. Verify the Title Deed: It is crucial to ensure the property is free of any liens or disputes. This verification is done at the local land registry office.

4. Sign a Preliminary Sales Agreement: This preliminary document sets the conditions of the sale and binds both parties.

5. Finalize the Deed of Sale: The transaction is formalized before a Greek notary, who drafts and registers the deed of sale.

The Key Role of the Notary

In Greece, the notary plays a central role in the property purchase process. They are responsible for:

• Verifying the legality of the transaction
• Drafting the deed of sale
• Ensuring all taxes related to the transaction are paid
• Registering the sale with the competent authorities

It is highly recommended to hire an independent lawyer to assist you throughout the process, in addition to the notary, to protect your interests and ensure all procedures are correctly followed.

Real Estate Taxation in Greece: An Asset for Investors

Greek real estate taxation is generally considered advantageous for foreign investors, contributing to the market’s attractiveness. Here are the main aspects to know:

Acquisition-Related Taxes

Property Transfer Tax: It amounts to 3.09% of the property’s value for existing properties. For new constructions, the 24% VAT applies instead of this tax.

Notary Fees: They represent approximately 1 to 2% of the purchase price.

Registration Fees: Approximately 0.5% of the property’s value.

Recurring Taxes

Property Tax (ENFIA): This annual tax is calculated based on the property’s value, location, and characteristics. Its amount can vary considerably, but it has been significantly reduced in recent years to stimulate the real estate market.

Municipal Tax: Generally included in the electricity bill, it varies by municipality.

Taxation of Rental Income

Rental income is subject to income tax according to a progressive scale:

• 15% for income up to €12,000
• 35% for income between €12,001 and €35,000
• 45% for income over €35,000

Capital Gains Tax

A Major Advantage for Investors: Since 2023, Greece has suspended the tax on real estate capital gains until 2025. This measure, initially temporary, could be extended, thus offering a significant advantage to investors.

Tax Treaties

Greece has signed tax treaties with many countries to avoid double taxation. It is important to check the existence and terms of such treaties with your country of tax residence to optimize your tax situation.

Required Documents: Prepare Your File

To successfully carry out your property purchase project in Greece, you will need to gather a number of documents. Careful preparation of your file will help you avoid delays and complications. Here is the list of essential documents:

Personal Documents

• Valid Passport: A certified copy will be necessary for all administrative procedures.
• Proof of Address: A recent document (less than 3 months old) proving your current address.
• Greek Tax Number (AFM): Obtained from the Greek tax authorities, this number is essential for any real estate transaction.
• Bank Statements: To prove your financial capacity to complete the purchase.

Documents Related to the Property

• Title Deed: The seller must provide a clear title deed free of any encumbrances.
• Planning Certificate: Certifying the property’s compliance with local planning regulations.
• Energy Performance Certificate: Mandatory for all properties put up for sale or rent.
• Property Plans: Detailed and up-to-date plans of the property.
• Certificate of No Mortgage: Issued by the local mortgage office.

Specific Documents for Foreign Buyers

• Purchase Authorization: Required for border areas and certain islands, to be obtained from the Ministry of Defense.
• Declaration of Source of Funds: For significant transactions, Greek banks may require proof of the origin of the funds used for the purchase.

Documents for Financing

If you opt for bank financing in Greece:

• Proof of Income: Pay slips, tax returns, etc.
• Banking History: Bank statements from recent months.
• Employment Certificate or documents related to your professional activity.

It is important to note that all non-Greek documents must be translated into Greek by a sworn translator and, in some cases, apostilled or legalized according to applicable international agreements.

Buying as a Foreigner: Your Rights and Opportunities

Greece offers a favorable legal framework for foreign investors wishing to acquire real estate. Unlike some countries that impose significant restrictions on non-resident buyers, Greece has adopted an open and welcoming approach. Here is what you need to know about your rights and opportunities as a foreign buyer:

Equal Rights

Principle of Non-Discrimination: Foreign buyers generally enjoy the same rights as Greek citizens regarding property acquisition. This equal treatment applies to both European Union nationals and non-Europeans.

Types of Accessible Properties: You can purchase virtually all types of real estate: apartments, houses, building plots, commercial properties. The only restrictions mainly concern border areas and certain islands for national security reasons.

The Golden Visa Program

One of the most attractive advantages for non-European investors is the Golden Visa program. Here are its main benefits:

• Investment Threshold: A real estate investment of at least €250,000 makes you eligible for the program.
• Residence Permit: You obtain a residence permit valid for 5 years and renewable.
• Freedom of Movement: The permit allows you to travel freely within the Schengen Area.
• Family Inclusion: The permit extends to your spouse and children under 21.
• No Residency Requirement: Unlike other countries, Greece does not impose a minimum stay duration to maintain the permit.

Investment Opportunities

The Greek real estate market offers various opportunities for foreign investors:

Tourist Rental Market: With over 30 million tourists per year, Greece offers very attractive seasonal rental potential, particularly on the islands and coastal areas.

Urban Renewal: Major cities like Athens and Thessaloniki are experiencing urban renewal, offering investment opportunities in neighborhoods undergoing transformation.

Sustainable Development: Greece encourages eco-friendly real estate projects, offering opportunities in the green real estate sector.

Practical Considerations

Opening a Bank Account: Although not mandatory, opening a Greek bank account greatly facilitates transactions and the management of your property.

Remote Management: If you do not plan to reside in Greece, there are many agencies specializing in property management and maintenance for foreign owners.

Professional Network: It is crucial to surround yourself with reliable professionals: real estate agent, lawyer, notary, and possibly a tax advisor familiar with international issues.

Buying a property in Greece represents a tempting opportunity for foreign investors. With a growing market, still competitive prices, and a favorable tax framework, Greece is emerging as a prime destination for diversifying one’s real estate portfolio. The Golden Visa program adds a strategic dimension for non-European investors, offering not only access to the real estate market but also a gateway to Europe.

However, as with any international investment, it is crucial to approach this project with careful preparation. Understanding the legal and tax framework, building a solid file, and relying on experienced local professionals are all key elements for a successful acquisition.

Greece, with its millennia-old heritage, breathtaking landscapes, and Mediterranean lifestyle, offers much more than a simple financial investment. It is an opportunity to own a little piece of paradise while making a potentially lucrative investment.