Authored by the expert who managed and guided the team behind the Greece Property Pack
Everything you need to know before buying real estate is included in our Greece Property Pack
Greece welcomes foreign property buyers with relatively open rules, but a few location-based restrictions and paperwork steps can surprise first-time buyers.
This guide covers what you can legally own, the visa and residency implications, step-by-step buying procedures, mortgage options, and all the taxes and fees you should budget for in 2026.
We keep this article updated as Greek property laws and market conditions evolve throughout the year.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Greece.
Insights
- Greece's transfer tax sits at 3% of the property's taxable value, but total closing costs for foreign buyers typically land between 7% and 10% once you add notary fees, registration, and legal costs.
- The Greek Cadastre system is still rolling out across the country, meaning some properties remain registered in older land-registry offices, which can complicate title verification for buyers in 2026.
- Foreign buyers from non-EU countries targeting properties in border regions like Thrace or certain eastern Aegean islands may need special government permission before purchasing.
- Greece's Golden Visa program has recently adjusted its thresholds based on location, so the minimum investment amount varies significantly between Athens, Thessaloniki, and island properties.
- Bank of Greece data from late 2025 shows new mortgage rates averaging around 4.5%, but foreign buyers often see offers in the 4% to 5.5% range depending on their profile.
- ENFIA, Greece's annual property tax, is calculated based on what you own on January 1 each year, so timing your purchase can affect your first-year tax bill.
- A VAT suspension on new residential properties has been extended through December 31, 2026, meaning most new-build purchases still pay 3% transfer tax rather than 24% VAT.
- Greek rental income is taxable in Greece for non-residents regardless of where they live, with effective rates typically falling in the mid-teens to mid-thirties percent range.
What can I legally buy and truly own as a foreigner in Greece?
What property types can foreigners legally buy in Greece right now?
In most of Greece, foreigners can legally buy the same residential property types as Greek citizens, including apartments, maisonettes, detached houses, and villas, with full freehold ownership rights.
The main limitation is geographic: properties located in designated border or frontier areas may require special permission for non-EU and non-EFTA buyers before the purchase can proceed.
These restricted zones typically include parts of Thrace (such as Evros, Rodopi, and Xanthi) and some eastern Aegean and Dodecanese islands close to Turkey, so if you're eyeing property in these regions, you should treat permission requirements as part of your due diligence.
For the vast majority of Greece, including Athens, Thessaloniki, the Peloponnese, and most popular islands like Crete, Mykonos, or Santorini, foreigners face no nationality-based restrictions and can purchase freely.
Finally, please note that our pack about the property market in Greece is specifically tailored to foreigners.
Can I own land in my own name in Greece right now?
Yes, foreigners can own land in their own name in Greece, because when you buy a house or villa, you typically also acquire the underlying land or a share of it as part of the same deed.
However, this is not true for absolutely all land: properties in designated frontier or border areas may require special government permission for non-EU buyers, particularly in regions like Thrace and certain islands near the Turkish border.
If your property falls outside these restricted zones, which covers the vast majority of Greece including Athens, Thessaloniki, Crete, and most tourist destinations, you can register land ownership directly in your name without any special approval.
By the way, we cover everything there is to know about the land buying process in Greece here.
As of 2026, what other key foreign-ownership rules or limits should I know in Greece?
As of January 2026, the most important rule to understand is that your ownership only becomes legally complete when the notarial deed is registered with the competent Land Registry or Cadastre office, not when you sign the contract.
Greece does not impose foreign-ownership quotas on apartments or condos, so there is no limit on how many units in a building can be owned by foreigners, unlike some other countries.
One registration requirement that surprises many foreign buyers is the need to obtain a Greek tax identification number (AFM) before the purchase, and non-EU residents must typically also appoint a local tax representative.
A notable regulatory development for 2026 is the continued rollout of the Hellenic Cadastre, which is gradually replacing older land-registry offices across Greece and standardizing how property records are maintained and verified.
If you're interested, we go much more into details about the foreign ownership rights in Greece here.
What's the biggest ownership mistake foreigners make in Greece right now?
The single biggest mistake foreigners make when buying property in Greece is skipping or underpaying for thorough title and encumbrance checks, especially in areas where records are still transitioning between older land registries and the modern Cadastre system.
If you skip this step, you could end up buying a property with hidden debts, unresolved inheritance claims, or illegal construction that becomes your legal and financial problem after the sale closes.
Other classic pitfalls in Greece include assuming the physical property matches what is registered (especially for older houses with extensions), overlooking unpaid ENFIA taxes from the previous owner, and not verifying that building permits are in order for renovations or additions.
We have made this infographic to give you a quick and clear snapshot of the property market in Greece. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
Which visa or residency status changes what I can do in Greece?
Do I need a specific visa to buy property in Greece right now?
You do not need a special visa to buy property in Greece, and purchasing while visiting on a tourist visa or Schengen entry is legally allowed, though you must complete the required administrative steps during your stay or via a Power of Attorney.
The most common administrative requirement that can block foreign buyers is not having a Greek tax identification number (AFM), which is mandatory for any property transaction and must be obtained before you can sign the deed.
Getting an AFM as a non-resident typically requires either an in-person appointment at a Greek tax office, a video call through the AADE system, or using a Power of Attorney with a local tax representative acting on your behalf.
A typical document set for foreign buyers includes your passport, AFM, proof of address, the Power of Attorney if applicable, and bank documentation showing the source of funds for the purchase.
Does buying property help me get residency and citizenship in Greece in 2026?
As of January 2026, buying property in Greece can help you obtain residency through the Golden Visa program, but it does not automatically grant you citizenship, which requires years of legal residence and meeting separate naturalization criteria.
Greece's Golden Visa offers a renewable five-year residence permit to non-EU investors who purchase qualifying real estate, with minimum investment thresholds that now vary by location and property type following recent legislative changes.
The minimum investment threshold in high-demand areas like Athens, Thessaloniki, Mykonos, and Santorini is higher than in other parts of Greece, so you should verify the current requirements for your target location before planning your purchase.
We give you all the details you need about the different pathways to get residency and citizenship in Greece here.
Can I legally rent out property on my visa in Greece right now?
Your visa status in Greece generally does not prevent you from owning property and collecting rental income, because property ownership and rental activity are treated as separate legal matters from your immigration status.
You do not need to live in Greece to rent out your property, and many foreign owners manage their rentals remotely by appointing a local property manager or agency to handle day-to-day operations and guest communications.
Foreign landlords should be aware that Greek-source rental income is taxable in Greece regardless of where you live, and short-term rental platforms require registration with Greek authorities, so you will need to comply with both tax filing and licensing requirements.
We cover everything there is to know about buying and renting out in Greece here.
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How does the buying process actually work step-by-step in Greece?
What are the exact steps to buy property in Greece right now?
The standard sequence to buy property in Greece goes like this: obtain your AFM (tax ID), find and agree terms on a property, conduct due diligence on title and legal status, sign the notarial deed, register the deed with the Land Registry or Cadastre, and then handle post-completion admin like updating the E9 property declaration and transferring utilities.
You do not have to be physically present for every step in Greece, because you can grant a Power of Attorney to a lawyer or representative who can sign documents on your behalf and complete the transaction while you remain abroad.
The step that makes the deal legally binding in Greece is the signing of the notarial deed in front of a Greek notary, although ownership is only fully transferred once the deed is registered with the competent Land Registry or Cadastre office.
From accepted offer to final registration, the typical timeline in Greece ranges from four to eight weeks, though it can take longer if there are title complications, missing documents, or delays with the registry office.
We have a document entirely dedicated to the whole buying process our pack about properties in Greece.
Is it mandatory to get a lawyer or a notary to buy a property in Greece right now?
A notary is effectively mandatory in Greece because all property transfers must be executed through a notarial deed, which the notary drafts, witnesses, and submits for registration to complete the ownership transfer.
The key difference between a notary and a lawyer in Greece is that the notary is a neutral public official who formalizes the transaction for both parties, while a lawyer specifically represents your interests, conducts due diligence, and protects you from legal risks the notary is not responsible for flagging.
One key item to include in your lawyer's engagement scope is a full title search and encumbrance check, because this is the investigation that will reveal hidden debts, ownership disputes, or illegal construction issues before you commit to the purchase.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Greece versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
What checks should I run so I don't buy a problem property in Greece?
How do I verify title and ownership history in Greece right now?
The official registry to verify title and ownership history in Greece is either the local Land Registry (for areas not yet in the Cadastre) or the Hellenic Cadastre, which you can access through the gov.gr portal or your lawyer's direct requests.
The key document to request is a Cadastre extract or Land Registry certificate that confirms the current registered owner, the property's exact description, and any rights or restrictions attached to it.
For ownership history checks in Greece, buyers commonly review the chain of title going back 20 years or more, though your lawyer may recommend an even longer look-back period for older properties with complex inheritance histories.
A clear red flag that should stop or pause your purchase is any gap in the ownership chain, unresolved inheritance claims among multiple heirs, or a prior transfer that was never properly registered.
You will find here the list of classic mistakes people make when buying a property in Greece.
How do I confirm there are no liens in Greece right now?
The standard way to confirm there are no liens or encumbrances on a property in Greece is to request an official certificate of encumbrance (or non-encumbrance) from the competent Land Registry or Cadastre office where the property is registered.
One common type of encumbrance buyers should specifically ask about in Greece is mortgages or bank charges from the seller's existing loans, as well as any unpaid ENFIA property taxes that could become the new owner's responsibility.
The best form of written proof is the official encumbrance certificate issued by the Land Registry or Cadastre, which is so critical that Greece's Ministry of Migration explicitly requires it for Golden Visa property applications.
How do I check zoning and permitted use in Greece right now?
The authority to check zoning and permitted use in Greece is the local municipality's urban planning department (Poleodomia), where you can verify whether the property's current use is legal and whether any planned renovations or extensions would be allowed.
The document that typically confirms zoning classification in Greece is the official urban planning certificate from the municipality, which shows the applicable zoning category, building coefficients, and any special restrictions for the plot.
A common zoning pitfall that foreign buyers miss in Greece is purchasing older properties with unpermitted extensions, illegal rooftop additions, or enclosed balconies that were never legalized, which can block future sales or trigger fines during inspections.
Buying real estate in Greece can be risky
An increasing number of foreign investors are showing interest. However, 90% of them will make mistakes. Avoid the pitfalls with our comprehensive guide.
Can I get a mortgage as a foreigner in Greece, and on what terms?
Do banks lend to foreigners for homes in Greece in 2026?
As of January 2026, yes, several Greek banks do lend to foreigners for home purchases, including major institutions like Alpha Bank which explicitly offers mortgage products designed for non-Greek buyers.
Foreign borrowers in Greece typically see loan-to-value ratios ranging from 50% to 70%, meaning you should expect to provide a down payment of at least 30% to 50% of the property value.
The most common eligibility requirement for foreigners is documented income, which banks will want to verify even if you earn abroad, along with a clean credit history and sufficient property documentation to satisfy the bank's valuation and legal checks.
You can also read our latest update about mortgage and interest rates in Greece.
Which banks are most foreigner-friendly in Greece in 2026?
As of January 2026, the most foreigner-friendly banks for mortgages in Greece are Alpha Bank, National Bank of Greece (NBG), and Eurobank, all of which have established international desks and experience processing applications from non-resident buyers.
The single most important feature that makes these banks more foreigner-friendly is their willingness to accept income documentation from abroad and their ability to conduct at least part of the application process in English or through remote channels.
These banks do lend to non-residents in Greece, meaning you do not necessarily need a local residency permit to apply, though the terms may be stricter and the required down payment higher compared to resident borrowers.
We actually have a specific document about how to get a mortgage as a foreigner in our pack covering real estate in Greece.
What mortgage rates are foreigners offered in Greece in 2026?
As of January 2026, mortgage interest rates for foreigners in Greece typically fall in the range of 4% to 5.5%, based on Bank of Greece data showing new housing loan rates averaging around 4.5% in late 2025 plus the typical premium applied to non-resident borrowers.
Fixed-rate mortgages in Greece generally carry slightly higher interest rates than variable-rate products, with the exact spread depending on the term length, but the tradeoff is payment predictability over the life of the loan.
We made this infographic to show you how property prices in Greece compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What will taxes, fees, and ongoing costs look like in Greece?
What are the total closing costs as a percent in Greece in 2026?
The typical total closing costs for a foreign buyer in Greece in 2026 fall between 7% and 10% of the property's purchase price or taxable value, covering all mandatory fees and taxes.
The realistic range that covers most standard transactions is 7% on the lower end for straightforward apartment purchases, up to 10% or slightly higher for complex deals, larger properties, or transactions requiring extensive legal work.
The specific fee categories that make up closing costs in Greece include the 3% transfer tax, notary fees (around 1% to 1.5%), Land Registry or Cadastre registration fees (around 0.5%), lawyer fees (around 1% to 2%), and sometimes an agent commission if applicable.
The single biggest contributor to closing costs in Greece is the transfer tax at 3% of the taxable value, which is payable before the deed can be signed and registered.
If you want to go into more details, we also have a blog article detailing all the property taxes and fees in Greece.
What annual property tax should I budget in Greece in 2026?
As of January 2026, a typical annual property tax budget for a standard apartment in Greece (60 to 90 square meters in a normal urban zone) is around 200 to 600 euros per year, while houses and villas (100 to 160 square meters or larger) can range from 500 to 1,500 euros or more depending on location.
Greece's annual property tax (ENFIA) is assessed based on property characteristics like location zone, size, age, floor, and features, with the calculation determined by what you own as of January 1 each year according to your E9 property declaration.
How is rental income taxed for foreigners in Greece in 2026?
As of January 2026, the effective tax rate on rental income for foreigners in Greece typically falls in the mid-teens to mid-thirties percent range, depending on the amount of income and applicable deductions, with non-residents taxed on Greek-source income under standard category rules.
Foreign owners in Greece must file an annual tax return reporting their rental income, and double-tax treaties between Greece and the owner's home country may provide relief to avoid being taxed twice on the same income.
What insurance is common and how much in Greece in 2026?
As of January 2026, a typical annual home insurance premium in Greece ranges from 150 to 350 euros for apartments and 300 to 900 euros or more for houses and villas, which translates to roughly similar amounts in USD given the current exchange rate.
The most common type of property insurance coverage in Greece is buildings insurance that covers fire, natural disasters, and earthquake damage, with earthquake coverage being particularly important given Greece's seismic activity.
The single biggest factor affecting insurance premiums for the same property type in Greece is location, because properties in earthquake-prone zones, coastal areas with flood risk, or high-value tourist destinations will typically cost more to insure than those in lower-risk inland areas.
Get the full checklist for your due diligence in Greece
Don't repeat the same mistakes others have made before you. Make sure everything is in order before signing your sales contract.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Greece, we always rely on the strongest methodology we can … and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why it's authoritative | How we used it |
|---|---|---|
| AADE - Real Estate Transfer Tax | It's the official Greek tax authority page explaining what every buyer pays. | We used it to confirm the 3% transfer tax rate. We also used it as our anchor for closing cost estimates. |
| AADE - ENFIA Property Tax | It's the official AADE page explaining Greece's annual property tax system. | We used it to explain the January 1 snapshot rule. We also used it to frame realistic annual tax budgets. |
| Ministry of Economy and Finance - ENFIA Guide | It's the finance ministry's plain-language guide to ENFIA. | We used it to confirm ENFIA's legal scope and definitions. We cross-checked details with AADE pages. |
| AADE - AFM Tax ID Issuance | It's the official procedure foreigners follow to get a Greek tax number. | We used it to explain the AFM requirement. We highlighted the tax representative concept that surprises buyers. |
| Ministry of Migration - Golden Visa | It's the competent ministry describing investor residence permit requirements. | We used it to explain residency pathways. We cited its requirement for encumbrance certificates. |
| Bank of Greece - Interest Rates (Oct 2025) | It's Greece's central bank publishing official lending rate statistics. | We used it to estimate 2026 mortgage rate ranges. We separated new loan rates from outstanding loan rates. |
| Gov.gr - Hellenic Cadastre Services | It's the official portal for land registration services in Greece. | We used it to explain how to check cadastre records. We grounded title verification steps in official tools. |
| Gov.gr - Digital Property Transfer | It describes the digital workflow notaries use for transfers. | We used it to explain the document collection process. We clarified remote versus in-person steps. |
| ELRA - Greece Legal Restrictions | It's a European registry network summarizing member-country ownership rules. | We used it to confirm Greece is open to foreign buyers with border-area exceptions. We cited the law reference. |
| KPMG - VAT Suspension Extended to Dec 2026 | It's a major global tax advisor summarizing enacted tax law changes. | We used it to explain why new builds may still pay transfer tax. We kept closing cost guidance accurate for 2026. |
| Alpha Bank - Mortgage for Foreigners | It's a major Greek bank explicitly describing mortgages for non-residents. | We used it to confirm banks do lend to foreigners. We grounded the "which banks" section in official pages. |
| AADE - Non-Resident Income Taxation | It's the official rule that non-residents are taxed on Greek-source income. | We used it to explain rental income treatment for foreigners. We framed the role of double-tax treaties. |
| Lexology - Buying Real Estate in Greece | It's a legal database with expert commentary on Greek property transactions. | We used it to confirm the notary deed requirement. We referenced it for Power of Attorney and registration details. |
| Ethniki Asfalistiki - Home Insurance Costs | It's a major Greek insurer publishing ballpark pricing guidance. | We used it as an anchor for insurance cost estimates. We expanded ranges to cover various property types. |
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Greece. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.