Published on and written by Cyril Jarnias
Greece, with its picturesque landscapes, millennia-old history, and Mediterranean lifestyle, is attracting more and more foreign real estate investors. Whether you are looking for a second home on a paradise island or a rental property in a major city, it is crucial to rely on a reliable and experienced local real estate agency. In this article, we present an overview of the best real estate agencies in Greece, their advantages and disadvantages, as well as tips for choosing the one that best meets your needs.
The key players in the Greek real estate market
The Greek real estate market is dynamic and growing, thanks in particular to the country’s tourist appeal and the investment opportunities it offers. Here is a selection of the most reputable real estate agencies in Greece:
1. Engel & Völkers Greece
Engel & Völkers is a prestigious international brand that has successfully established itself in Greece. The agency stands out for its expertise in high-end real estate and its presence in the country’s most sought-after destinations.
- International network and brand recognition
- Specialization in luxury properties
- Presence in major Greek cities and islands
- Fees generally higher than average
- Less suitable for small budgets or standard properties
2. Sotheby’s International Realty Greece
Another major player in the luxury real estate market, Sotheby’s International Realty offers an exclusive portfolio of exceptional properties throughout Greece.
- Carefully curated selection of high-end properties
- Personalized and discreet service
- Powerful international marketing
- Offer limited to luxury properties
- Potentially high commissions
3. RE/MAX Greece
RE/MAX, a global leader in real estate, has an extensive network of franchised agencies in Greece, covering both major cities and tourist destinations.
- Wide selection of properties across all price ranges
- National presence with local agencies
- Advanced technological tools for property searches
- Variable service quality depending on the franchised agency
- Approach sometimes less personalized than independent agencies
4. Grekodom Development
Grekodom Development is a Greek agency specializing in residential real estate and investments, with a strong presence in northern Greece and the islands.
- Deep local expertise
- Comprehensive services, from search to property management
- Specialization in new developments and investments
- Less extensive geographic coverage than some competitors
- Less suitable for older or atypical properties
5. Leptos Estates
Although originally from Cyprus, Leptos Estates has established itself as a major player in the Greek real estate market, particularly in the development of residential and tourist complexes.
- Extensive experience in large-scale real estate projects
- Integrated offering (construction, sales, management)
- Investment opportunities in new complexes
- Focus on specific regions
- Less suitable for purchasing existing properties
Good to know:
The Greek real estate market offers a diversity of agencies, from international players to local specialists. Choose based on your project and the region you are interested in.
Finding the ideal real estate agency in Greece may seem like a daunting task, but a few key steps will help you make the right choice:
1. Clearly define your real estate project
Before starting your search for an agency, take the time to clearly define your project. Are you looking for a second home on an island, a rental investment in Athens, or a commercial property on the coast? Your budget, location criteria, and the type of property you are looking for will guide your choice of agency.
2. Do online research
The internet is your best ally to start your research. Check agency websites, their property portfolios, and especially customer reviews. Platforms like TripAdvisor or expat forums can provide valuable feedback on local agencies.
3. Check accreditations and affiliations
In Greece, real estate agents must hold a license issued by the Ministry of Development. Additionally, membership in professional associations such as FIABCI (International Real Estate Federation) or EPPA (Association of Certified Real Estate Agents of Greece) is a mark of credibility.
4. Evaluate local expertise
In-depth knowledge of the local market is crucial. Prioritize agencies that have been established in the region you are interested in for a long time. They will be better able to advise you on neighborhoods, prices, and local specifics.
5. Test responsiveness and professionalism
Do not hesitate to contact several agencies to assess their responsiveness and the quality of their customer service. A professional agency should be able to answer your questions quickly, provide you with detailed information, and adapt to your specific needs.
6. Compare the services offered
Beyond the simple real estate transaction, some agencies offer valuable additional services for foreign buyers: legal assistance, help with administrative procedures, property management, etc. Evaluate the range of services offered based on your needs.
7. Meet the agents in person
If possible, schedule a scouting trip to Greece to meet the agents in person. Nothing beats direct contact to assess the professionalism and reliability of an agency.
Good to know:
The relationship of trust with your real estate agent is paramount. Take the time to choose an agency that understands your needs and with which you feel comfortable.
Agency fees in Greece: what you need to know
Understanding the structure of agency fees in Greece is essential to avoid unpleasant surprises and properly budget for your real estate project.
Commissions on sales
In Greece, agency commissions for real estate sales generally range between 2% and 5% of the sale price. This percentage may be higher for luxury properties or complex transactions. It is important to note that, unlike in some countries, in Greece the commission is often split between the buyer and the seller.
- Total commission: 4% of the sale price
- Seller’s share: 2%
- Buyer’s share: 2%
However, this split may vary depending on the agency and negotiations between the parties.
Property management fees
- Finding and selecting tenants
- Drafting lease agreements
- Collecting rent
- Managing repairs and maintenance li>Tax filing for rental income
Additional services
- Property valuation: 150 to 500 euros depending on complexity
- Legal assistance: hourly rates or flat fees to be negotiated
- Project management: generally a percentage of the cost of work (5-10%)
Transparency and negotiation
Transparency on fees is an important criterion when choosing an agency. Do not hesitate to ask for a full breakdown of fees before committing. In some cases, especially for large transactions or exclusive mandates, it may be possible to negotiate commission rates.
Tax specifics
In Greece, VAT (currently 24%) applies to agency commissions. Make sure the rates quoted to you include this tax to avoid any surprises.
Good to know:
Agency fees in Greece are generally higher than in some European countries. However, they often reflect a more comprehensive service, particularly valuable for foreign buyers.
Keys to success for your real estate project in Greece
Investing in real estate in Greece can be a rewarding experience, both financially and personally. Here are some additional tips to maximize your chances of success:
1. Familiarize yourself with the legal framework
- Any restrictions for foreign buyers
- Procedures for obtaining a Greek tax number (AFM)
- Steps with the land registry
2. Consider long-term potential
Beyond the immediate appeal of a property, evaluate its long-term potential. Take into account development projects in the area, the evolution of the local real estate market, and tourism trends for properties intended for seasonal rental.
3. Include all costs in your budget
- Notary fees (approximately 1-2% of the purchase price)
- Property transfer taxes (3.09% of the property’s tax value)
- Any renovation or improvement work li>Annual property taxes (ENFIA)
4. Explore Golden Visa opportunities
Greece offers a “Golden Visa” program that allows you to obtain a residence permit by investing in real estate. If this program interests you, make sure to work with an agency experienced in this area.
5. Think about remote management
If you do not plan to live in Greece full-time, think about managing your property remotely. An agency offering property management services can be a valuable asset for maintaining your property and generating rental income.
6. Stay informed about market developments
The Greek real estate market has experienced significant fluctuations in recent years. Stay informed about current trends and forecasts to make informed decisions.
Good to know:
A successful real estate investment in Greece requires careful preparation and a thorough understanding of the local market. Do not hesitate to surround yourself with experienced professionals to guide you.
Real estate in Greece offers great opportunities for foreign investors, whether for a second home, a rental investment, or a lifestyle project. By choosing the right real estate agency and following the advice provided in this article, you will maximize your chances of realizing your Greek dream under the best conditions.
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Cyril Jarnias is an independent expert in international wealth management with over 20 years of experience. As an expatriate himself, he is dedicated to helping individuals and business leaders build, protect, and pass on their wealth with complete peace of mind.
On his website, cyriljarnias.com, he shares his expertise on international real estate, offshore company formation, and expatriation.
Thanks to his expertise, he offers sound advice to optimize his clients' wealth management. Cyril Jarnias is also recognized for his appearances in many prestigious media outlets such as BFM Business, les Français de l’étranger, Le Figaro, Les Echos, and Mieux vivre votre argent, where he shares his knowledge and know-how in wealth management.
