Published on and written by Cyril Jarnias
Buying an apartment in Greece is increasingly appealing to French buyers, and it’s no coincidence. Foreign demand is soaring, prices remain reasonable in many regions, the tax system is clear, and for European Union nationals, residency procedures are surprisingly simple. However, buying real estate abroad is not something to improvise. In 2026, with new tax regulations, a very dynamic market, and specific Greek administrative requirements, it’s essential to proceed methodically.
This French-language guide covers the search, negotiation, legal framework, actual costs, financing, taxation, renovation, and pitfalls to avoid when buying an apartment in Greece.
Understanding the General Framework for a French Buyer
For a French citizen, the first advantage is legal: as an EU national, there are no restrictions on buying real estate in Greece. In the vast majority of the country, a French person can purchase an apartment under the exact same conditions as a Greek citizen. No need for a “Golden Visa,” no quotas on foreign ownership, no requirement for a local partner, and no need for an offshore structure or shell company.
No minimum investment or income threshold is required for a French person to reside in Greece, thanks to European freedom of movement.
Finally, it’s important to keep in mind that buying property and tax residency are two different things. A French person who spends fewer than 183 days per year in Greece remains, in principle, a French tax resident and will only be taxed in Greece on income from Greek sources (e.g., rental income from their apartment). This distinction will heavily influence how you structure your project, especially if you plan to rent it out.
Where to Buy Your Apartment: Athens, Islands, or the Mainland?
Greece is not a uniform market. Prices, yields, and even the thresholds for major investment programs vary significantly depending on location.
Foreign buyers are mainly concentrated in Athens, Thessaloniki, and the major tourist islands. However, several signals from available data can help refine your choices.
On Mykonos or Santorini, prices reach €4,000/m² for luxury properties, with a Golden Visa requiring €800,000 on a property of at least 120 m², which excludes any affordable options and makes these destinations seasonal status investments.
On the other end of the spectrum, some islands like Crete remain surprisingly affordable. Average prices there are still well under €2,000 per square meter, with one-bedroom apartments around €50,000 to €70,000 and two-bedroom apartments near €100,000. Crete benefits from an active market, good infrastructure, and near year-round activity, making it one of the most balanced options for a French person looking to combine personal use and seasonal rentals.
In central urban districts like Athens, you can find properties under €2,000/m² that become profitable after renovation, with rental yields exceeding 6% for well-located small units. Conversely, upscale southern neighborhoods near the coast often see prices above €3,000/m².
2026 data places the median Greek price around €1,900 to €2,200/m², and a typical budget for a modern apartment often falls between €210,000 and €280,000, depending on size, standard, and city.
To give you a reference point, here are some general price ranges:
| Type of property / area (2026) | Indicative price level |
|---|---|
| Small older unit needing renovation (Athens/Crete) | ~€1,500–€1,800/m² |
| Renovated 1–2 bedroom apartment, urban area | ~€2,600–€4,200/m² |
| Townhouse (maison de ville) | ~€420,000 average |
| Standard detached house | ~€390,000 average |
| High-end villa | ~€1,400,000 average |
| Vacation apartment (non-premium islands) | ~€320,000 average |
These figures provide a framework, but the key is to define your priority: personal use, rental yield, future appreciation, or simply a second home.
Step 1: Determine Your Real Budget (Not Just the Purchase Price)
The first common mistake foreign buyers make is only looking at the listed price. In Greece, as elsewhere, the true acquisition cost is higher because you need to factor in taxes, professional fees, structural costs, and, if applicable, renovation.
In practice, in 2026, a buyer can reasonably estimate that all closing costs (taxes, notary, registration, lawyer, real estate agent, minor formalities) represent between 6% and 10% of the apartment’s price, or slightly more depending on the structure and intermediaries.
Buyer costs can reach up to 8.77%, according to some studies.
A useful rule of thumb is to think of it this way: for every €100,000 spent on the price, add approximately €10,000 to be safe. To that, you may add a renovation budget, which in the case of a major overhaul can push the total budget 15% to 35% above the simple purchase price.
Here is an indicative summary of items to include:
| Cost item (purchase in 2026) | Typical range |
|---|---|
| Transfer tax (FMA) | ~3.09% of taxable price |
| Notary | ~0.8–1.6% + 24% VAT |
| Lawyer (recommended) | ~0.5–2% + 24% VAT |
| Land registry / cadastre | ~0.5–0.8% |
| Real estate agent (buyer’s side, if engaged) | ~2–3% + 24% VAT |
| Miscellaneous (translations, AFM, certificates…) | ~€500–€1,500 |
For an apartment costing €200,000, it is therefore entirely realistic to see the final bill approach €214,000 to €220,000, excluding renovation.
Step 2: Searching for and Selecting the Property
The search process resembles what a French buyer already knows, but with some adjustments.
It is highly recommended to work with a certified agent in Greece. The standard commission is around 2% of the price (sometimes up to 3–4%), with each party – seller and buyer – compensating their own intermediary. This fee is negotiable, especially on higher budgets, but you should remain realistic: a good local agent saves you time, filters out questionable listings, and often knows about development projects or less visible constraints in a neighborhood.
At the same time, it is strongly recommended to research neighborhoods and cities that match your project in advance. In a market where French buyers are among the most active foreign buyers (with an increase in their purchases of nearly 80% in 2024), quality properties sell quickly, especially in well-connected and tourist-friendly areas.
The initial selection phase should therefore combine:
– a realistic view of the price per square meter in the target area,
– remote pre-selection work (listings, virtual tours, agency reports),
– and a program of on-site visits concentrated over a few days, with a well-prepared schedule.
During viewings, it’s best to act like a professional: take systematic photos, check the condition of the condominium, common areas, facades, roof, ask the agent about condo fees, municipal taxes, recent or upcoming work, neighborhood quality, parking availability, and access times to services.
Step 3: Thorough Technical Inspection Before Committing
A Greek apartment is not just a sea view. The condition of the building and compliance with urban regulations can make the difference between an excellent investment and an administrative headache.
In Greece, unlike in France, the notary does not perform an in-depth check of the technical or urban planning status of the property. It is up to the buyer to hire a civil engineer or architect for a “technical due diligence” and a lawyer for the legal aspects.
For an 80 m² apartment, expect about €450 excluding VAT; for a larger house with land, €750 or more. The inspection checks compliance with permits, absence of illegal additions, consistency of surface areas, and absence of legal obstacles to transfer, for example for a Golden Visa.
The expert also checks structural condition (walls, slabs, sometimes exposed rebar in older structures), roofing, joinery, plumbing, electrical, heating/air conditioning systems, insulation, signs of dampness, possible presence of problematic materials (asbestos, lead), or energy performance via a dedicated certificate. For individual constructions or buildings on hillsides, a full structural diagnosis is often recommended given the risks of ground movement.
Repairs related to rusted rebar visible in the concrete are extremely costly, as they require breaking, treating, protecting, and restoring part of the structure. Detecting this pathology before purchase completely changes the financial equation.
For utility connections (water, electricity, sewage), it’s better to verify on-site rather than rely on the seller’s claims. In rural areas, the lack of a sewer system or municipal water connection may require the costly installation of a septic tank or significant connection work.
Step 4: Negotiation, Preliminary Agreement, and Deposit
Once the apartment is selected and a preliminary agreement in principle is reached, Greek practice typically involves signing a preliminary agreement, often called a “private agreement” or “promise to sell.” This document goes far beyond a simple reservation: it creates contractual obligations for both parties.
It includes:
– a description of the property and its boundaries,
– the agreed price,
– the deadlines for signing the final deed,
– and the terms of the agency commission.
The typical percentage of the price paid as a deposit in a transaction, representing an advance of 5% to 10%.
The rule is simple:
– if the buyer withdraws without a reason provided for in the contract (e.g., loan refusal or discovery of an established legal defect), they lose the deposit,
– if the seller backs out, they must generally return double the deposit.
This commitment therefore requires signing only once most of the legal and technical checks have already been performed or are well underway, and after consulting your lawyer.
Step 5: Obtain a Greek Tax Number (AFM) and, if Necessary, a Bank Account
For any property purchase, obtaining a Greek tax number (AFM) is mandatory, regardless of your nationality or place of residence. The AFM is used to declare the transaction, pay the transfer tax, receive property tax (ENFIA) notices, and handle various tax formalities.
To obtain a Greek tax number, present your passport (sometimes a birth certificate or specific form), fill out forms M1 and M7, and appoint a tax representative if you are not a Greek resident. A lawyer or accountant can do this via a power of attorney.
Opening a bank account in Greece is no longer strictly mandatory for everyone, but it remains highly recommended. Many banks require purchase funds to pass through a local account to simplify traceability, and some mortgage loans are only granted to account holders. Additionally, paying taxes, fees, and water/electricity bills is smoother if you have a Greek IBAN.
Step 6: In-Depth Legal Due Diligence
This is probably the most important phase for a foreign buyer. In Greece, the notary authenticates the deed but does not conduct a full investigation of the title, easements, mortgages, or disputes. That task falls to the buyer’s lawyer.
The verification includes: checking the data and ensuring its accuracy.
Before buying a property in Greece, conduct a thorough review of the chain of ownership going back at least 20 to 30 years, tracing through deeds and transfers. Perform an exhaustive search at the land registry or Hellenic Cadastre to check for mortgages, seizures, liens, rights of way, leases, expropriations, and litigation. Ensure that the seller is the undisputed owner, that the property is not burdened by insurmountable mortgages or seizure proceedings, and verify consistency between the official surface area and the physical reality. Finally, examine the urban planning status, especially in rural, forest, or areas near archaeological sites.
If the seller is a company, the lawyer must also ensure that the company is active (not in liquidation or under forced administration), and that the person signing the deed has valid authority. In the case of inheritance, the regularity of the succession devolutions must be checked over a relevant period (at least 10 years).
The cost of this legal due diligence is often charged as a flat fee for a standard apartment, around €400–€500, but can reach 1–2% of the property’s value if the lawyer handles the entire file (negotiation, representation, registration, tax follow-up).
Step 7: Financing and Mortgages for Non-Residents
Contrary to what is often read, it is possible for a non-resident – including a French person – to obtain a mortgage in Greece. However, conditions are stricter than for residents, and banks require a significant down payment.
In 2026, rates offered to foreigners generally range between 4% and 5.5%, with variations depending on the term, bank, and strength of the file. Greek banks offer fixed-rate options for 3, 5, 7, 10, or 15 years, sometimes longer, with rate grids around 3% to 4.6% for certain fixed maturities, even if market averages are more around 4.5%.
The maximum repayment term for a non-resident is often limited, for example
– up to 15 years for certain foreign profiles,
– with a requirement that the youngest borrower not exceed 70–75 years at maturity.
The loan-to-value ratio remains cautious. Most banks only finance 50% to 65% of the property’s value (or its appraised value, if lower), which implies a minimum down payment of 35% to 50%. Some European profiles residing in the EU can get up to 70–80% financing, but that is not the norm for a French person living solely in France.
For an apartment at €250,000, you need to bring at least €75,000 to €125,000 in equity.
The required documents are similar to those of a French bank:
– proof of identity (passport),
– Greek AFM,
– proof of income (pay stubs, financial statements for self-employed, employer statements),
– tax returns for the last two or three years in your country of residence,
– bank statements from several months,
– proof of residence,
– details of your assets and debts.
Opening an account with the lending bank is almost always required. Several major banks – Alpha Bank, National Bank of Greece, Eurobank – have specific offers for international clients.
Step 8: Purchase Taxation: Transfer Tax, VAT, and Exemptions
For a resale apartment (i.e., one whose building permit was issued before 2006 or which does not fall under the VAT regime for new constructions), the main purchase tax is the transfer tax, called FMA (Fóros Metavivasis Akinítou).
Its effective rate is 3.09% of the taxable value of the property. This rate results from a 3% national rate, plus a municipal surcharge of 3% on that amount, i.e., an additional 0.09%. The basis of calculation is the declared price, but never lower than the “objective value” set by the Greek tax authorities.
This tax, entirely borne by the buyer, must be paid before the notarial deed. The lawyer declares it to the AADE and forwards the proof, which is essential for the notary to proceed with the signing.
Things get a bit more complicated for new constructions. In principle, new homes – those whose permits were issued or renewed from 2006 onward – are subject to a real estate VAT of 24% (FPA). However, to stimulate the market, Greece has implemented an optional suspension regime for this VAT for developers, extended until December 31, 2026. In practice, for a large proportion of new apartments currently on the market, the transfer tax of 3.09% applies, rather than the 24% VAT. The developer chooses whether or not to opt for the suspension, but this option is very common.
There is a transfer tax exemption regime for the purchase of a primary residence, subject to value and family situation conditions. This scheme favors Greek residents but can also apply to European nationals who settle permanently and meet the criteria. For a French person buying a vacation pied-à-terre, this exemption is not automatic without advice from a tax advisor.
Step 9: The Notarial Deed and Payment
Once all documents are gathered – technical certificates, tax clearance certificates, due diligence results, proof of transfer tax payment – the lawyer prepares the draft sales deed with the notary.
The notary plays a role similar to their French counterpart: they are a public officer, neutral, and give the deed its evidentiary force and enforceability. However, it is the buyer’s legal advisor who ensures that all clauses reflect the agreements, that guarantees regarding the absence of debts or defects are properly worded, and that the tax declarations are accurate.
On the day of signing, the buyer, seller, and their lawyers are present, unless a power of attorney (PoA) is used, which is common for foreigners. Payment of the price is made at the time of signing or just before, by bank transfer or Greek bank check, according to the terms declared before the notary.
After signing, the notary provides the original deed and the necessary copies, and the lawyer handles the rest: registration with the land registries, notification to the tax authorities, update of files used to calculate the property tax.
Step 10: Registration with the Land Registry / Cadastre
It is only once the deed is recorded with the land registry or the competent cadastre that the property becomes definitively enforceable against third parties. The simple signing before a notary does not constitute a complete transfer under Greek law until the registration is completed.
The registration fee rate for a deed filed at the registry office or cadastre ranges between 0.48% and 0.68% of the property’s value, sometimes quoted as 0.5% to 0.8%.
This document, together with the notarial deed, constitutes your definitive proof of ownership in Greece.
Step 11: After the Purchase: Declaration, Annual Taxes, and Recurring Costs
Once you become an owner, you must declare your property to the Greek tax authorities via the E9 form, usually online on the Taxisnet portal. Most buyers delegate this formality to an accountant or their lawyer. This declaration serves as the basis for calculating ENFIA, the annual property tax.
For a standard apartment of 60 to 90 m² in a typical urban area, ENFIA costs between €200 and €600 per year in 2026.
An additional tax may apply for high-value real estate holdings. Once the total value of your properties exceeds a certain threshold (in practice around €250,000–€300,000 depending on the texts), a “supplement” to ENFIA applies, based on a progressive scale starting at around 0.10% for the bracket up to €400,000, then increasing in steps up to 1.15% above €5 million.
TAP (municipal taxes) are collected via the electricity bill at a rate of 0.025% to 0.035% of the property’s objective value. They are included in ownership costs. You should verify that the previous owner has paid them up to the date of transfer.
In addition to taxes, you should plan for:
– homeowner’s insurance, preferably including earthquake risk, typically between €200 and €600 per year,
– condominium fees, which vary widely but are often between €300 and €800 annually for a standard apartment,
– routine maintenance, which, depending on size and occupancy frequency, can amount to €500 to €2,000 per year,
– basic utilities (electricity, water, possibly gas), which for regular use can be estimated at €100 to €250 per month.
Step 12: Renting Out Your Apartment in Greece – and Being Taxed on Rental Income
Many French buyers consider purchasing in Greece as a mix of personal use and seasonal or annual rental. Greek taxation on rental income is quite straightforward: it is progressive and applies whether you are a resident or non-resident, as long as the income is from a Greek source.
The brackets for 2026 are as follows:
– up to €12,000 in annual rental income: 15%,
– from €12,001 to €24,000: 25% on the portion corresponding to this bracket,
– from €24,001 to €35,000: 35% on the portion above €24,000 (or according to texts, the €12,001–€35,000 bracket at 35% in some smoothed configurations),
– above €35,000: 45% on the portion exceeding €35,000.
The system applies a standard deduction of 5% of gross rental income for expenses, replacing actual costs. This method is simple but may be disadvantageous if you have high costs such as major renovations, loan interest, or management fees.
Rental income, whether from long-term leases or short-term tourist rentals, falls under the same progressive rate regime. The status of being a French non-resident for tax purposes does not exempt you in Greece: the country retains the right to tax income from property located on its territory. The Franco-Greek tax treaty prevents double taxation in France on this same income by providing mechanisms for tax credits or exemptions.
Step 13: Prepare for a Possible Resale and Capital Gains
In 2026, the situation regarding capital gains taxation on real estate is particular. On one hand, Greek law provides for a 15% tax on capital gains realized from the sale of a property by individuals, mainly if the resale occurs within five years of purchase. Beyond a certain holding period (e.g., more than five years), some provisions even provide for an exemption.
The Greek capital gains tax is suspended at least until the end of 2026 for sales by individuals, including non-residents. Thus, an individual reselling their Greek apartment that year will generally not pay capital gains tax in Greece.
This point must be monitored closely, as extensions are decided periodically. If the normal regime returns, the capital gain (sale price minus adjusted purchase price, according to the rules) would be taxed at 15%, identically for residents and non-residents.
For a French tax resident selling a property in Greece, the Franco-Greek treaty gives priority to Greece to tax the capital gain. France may not tax it or may apply a tax credit depending on the case. French rules (holding period, allowances, 19% tax and 17.2% social contributions with full exemption at 22 and 30 years) remain the reference. An analysis with a specialized tax advisor is recommended to arbitrate between the two regimes.
Step 14: Anticipating Renovation Work
A large portion of good deals in Athens, Crete, or other regions are on properties requiring renovation. The problem: renovation costs in Greece have risen sharply, and the ranges are wide. Therefore, they must be seriously factored in from the start.
In 2026, renovation levels can be summarized as follows:
Indicative price ranges in euros per m² for different renovation levels:
Painting, simple joinery, minor repairs, no major layout changes: €150 to €300/m²
Replacement of finishes, clean-up of bathroom and kitchen, minor electrical and plumbing corrections: €300 to €400/m²
New electrical, new plumbing, new windows, completely redone kitchen and bathroom, adequate insulation: €500 to €700/m²
Premium materials, home automation, heated floors, high-performance windows, complete reconfiguration, sometimes heritage restoration: €700 to €1,200/m², or even €1,800 to €3,500/m² for exceptional projects in Athens
For an 80 m² apartment, a standard “turnkey” renovation in Athens typically costs between €40,000 and €56,000 excluding VAT, or approximately €47,000 to €55,000 including 24% VAT, depending on the exact items (creation or redo of electrical network, plumbing, plastering, painting, interior doors and armored door, aluminum or PVC windows with thermal break, new flooring, fitted kitchen, bathroom).
Some breakdowns from typical projects help give an idea:
| Work item (80 m², standard renovation) | Approximate cost |
|---|---|
| Demolition, debris removal | ~€2,000 |
| Plumbing/electrical networks | ~€5,000 |
| Plastering / rendering | ~€3,500 |
| Painting (preparation + 2 coats) | ~€3,200 |
| Interior doors + armored door | ~€1,750 |
| Exterior joinery (windows) | €6,000–€9,000 |
| Estimated total (before VAT, with windows) | ~€38,000–€47,000 |
| Total with 24% VAT | ~€47,000–€55,000 |
It is prudent to allow a contingency of 10% to 15% on quotes to absorb unforeseen events (hidden poor condition under coverings, electrical non-conformities, minor structural defects, etc.). On the islands, material costs and labor scarcity can increase bills by 25% to 35%.
A public renovation subsidy program is announced for 2026, with grants of up to 90% of costs for certain works and caps around €27,000 to €30,000 for homes of 100 m². These schemes target energy improvement and bringing vacant housing back to market. Eligibility depends on criteria such as income, surface area, and type of work. It is recommended to inquire on a case-by-case basis with an architect or local advisor.
Step 15: Getting Smart Support
The Greek framework offers many opportunities for French buyers in 2026: still competitive prices in many regions, suspension of VAT on a large portion of new constructions, current absence of capital gains tax for individuals in Greece, a clear tax regime on rentals, and, above all, complete freedom to purchase and reside for EU citizens.
The Greek real estate framework has pitfalls for the unwary buyer: complexity of old titles, multiple legal sources affecting the validity of deeds, distinct responsibilities between notary, lawyer, and engineer, importance of objective cadastral values for tax calculation, and the requirement for all documentation to be entirely in Greek.
Experience shows that serious support from:
– an independent lawyer specializing in real estate, ideally fluent in French or English,
– a civil engineer or architect accustomed to compliance checks,
– a certified real estate agent, well-connected locally,
– and, for tax matters, an accountant or advisor familiar with Franco-Greek treaties,
The cost of professionals such as a real estate agent represents 2% to 3% of the property price, plus VAT, an amount far lower than the risk of litigation.
For a French person looking to buy an apartment in Greece in 2026, the best advice is therefore to view the process as a genuine structured investment project, even if it is “just” a second home. By planning total costs from the outset (purchase + fees + renovation + taxes), carefully choosing the location, conducting thorough legal and technical due diligence, and accepting guidance from local professionals, it is entirely possible to secure a sustainably attractive transaction – for the pleasure of experiencing Greece daily as well as for long-term asset solidity.
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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.
