How to Buy Property in Greece

Buying Property in Greece: A Step-by-Step Guide

Greece is one of Europe’s most compelling destinations for property buyers. A Mediterranean climate, growing tourism economy, favourable legislation for foreign buyers, and the Golden Visa residency programme make it a magnet for international investors. But how does the process actually work? I am Nataliia Pavlychenko, a licensed real estate agent based in Athens with over ten years of experience, and in this guide I will walk you through every step.

If you are planning a relocation or want to experience Greece before committing to a purchase, renting is a sensible first step. The Greek rental market has its own character, however, and knowing what to expect will save you time and frustration.

How the Greek rental market works

Greek landlords typically prefer annual contracts and are rarely interested in short-term lets. Short-stay accommodation is available on Airbnb but at significantly higher prices. Another local custom worth knowing: many Greeks move into unfurnished apartments and furnish them over time. As a result, furnished properties are relatively rare and tend to be concentrated in central Athens and university districts.

Documents required to rent

To rent an apartment in Greece as a foreigner, you will need:

— A Greek tax number (AFM). This is obtained through a tax office application, usually arranged by a lawyer.

— Proof of income or student enrolment (sometimes requested by landlords).

— A Greek bank account, as rent is paid by bank transfer.

Deposits and payments

On signing, you pay a security deposit equivalent to one or two months’ rent. The deposit is returned on departure provided there is no damage to the property and all utility bills are settled. Monthly rent is due on the date specified in the contract.

Additional costs when renting:

— Agent’s commission: one month’s rent plus 24% VAT.

— First month’s rent paid upfront.

The rental contract

The official rental contract is registered through Greece’s tax authority system by the landlord’s accountant. Once registered, the contract appears automatically in your personal tax portal — you confirm it online. From that point, all utilities (electricity, water, gas, internet, building maintenance) are transferred to your name.

Renting in Greece involves some bureaucracy, but with an experienced agent the entire process moves quickly. I will help you find the right property and handle all paperwork correctly from the start.

Buying Property in Greece: 6 Steps

Foreign nationals can buy property in Greece with very few restrictions. The process is transparent, the legal framework is buyer-friendly, and Athens property prices have been rising at 5–10% per year. Here is how a full purchase transaction works.

Step 1. Consultation and property search

Start with a consultation with a licensed real estate agent in Greece: discuss your budget, property type (apartment, villa, commercial), and preferred area. Online search and shortlisting can begin before you arrive in the country. For investment, the southern Athens suburbs, the city centre, and the Athenian Riviera currently offer the strongest returns.

Step 2. Opening an AFM and bank account

On arriving in Greece, you will need a Greek tax identification number (AFM) and a Greek bank account. Your agent prepares the required document list in advance and supports you through the process remotely where possible. The AFM is mandatory for any legally binding property transaction in Greece.

Step 3. Legal due diligence

Once you have identified a property, a lawyer conducts a full title search to verify there are no encumbrances, debts, or legal risks attached to the property. This takes 2–3 working days. No deposit should be paid before this step is completed.

Step 4. Preliminary agreement and deposit

After a clean title search, the parties sign a preliminary agreement setting out: a deposit of 5–10% of the purchase price, a deadline for signing the final contract (typically 2–3 months, allowing time for document preparation), and penalty clauses applicable to both parties if the deal is cancelled.

Step 5. Signing the purchase contract

Two days before signing, you pay the property transfer tax of 3.09% of the purchase price (by bank transfer or cheque). On the day of signing, the notary reviews the full document package. Requirements: legal residence status in Greece and the presence of a certified interpreter, as the contract is drawn up in Greek.

Step 6. Title registration

After signing, the notary registers the property in your name. The following day, the lawyer records the transfer in the national land registry (cadastre). Your accountant updates your tax file, and all utilities are transferred to your name. Congratulations — you are now the legal owner of property in Greece.

Purchase costs in Greece

Total additional costs when buying typically amount to 8–10% of the purchase price, broken down as follows:

— Property transfer tax: 3.09%

— Notary fees: approximately 1.5%

— Lawyer’s fees: approximately 1–1.5%

— Agent’s commission: 2% + 24% VAT

— Land registry and accountant fees: approximately 0.5–1%

Greece Golden Visa — EU Residency Through Property

One of the key advantages of buying property in Greece as a foreign national is eligibility for the Golden Visa residency programme — one of the most accessible routes to European residency currently available.

Minimum investment: €250,000. The Greece Golden Visa grants a five-year renewable residence permit for the whole family, visa-free travel across the Schengen Area, and the right to live, work, and run a business in Greece.

Note: the programme’s terms are updated periodically. For the most current conditions, contact me directly — I have been working with Golden Visa clients since the programme launched.