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
Yes, US citizens can legally buy residential property in Greece in 2026, and the process is well established for foreign buyers.
Greece welcomes American buyers, though you will need a Greek tax ID, a local lawyer, and should be aware of special rules in border areas.
We constantly update this blog post to reflect the latest regulations, taxes, and mortgage conditions for Americans buying property in Greece.
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.
Can a US citizen legally buy residential property in Greece right now?
Can I buy a home in Greece as a US citizen in 2026?
As of early 2026, US citizens can legally purchase residential property in Greece, including apartments, houses, and maisonettes, without needing special government approval in most areas. The standard buying process involves obtaining a Greek tax identification number (AFM), hiring a local lawyer to conduct title checks and prepare documents, then signing the deed before a notary and registering the property with the Cadastre or Land Registry. The main exception to this straightforward process applies to properties located in designated border or frontier zones, where non-EU buyers (including Americans) must obtain prior permission under Law 1892/1990 before completing the purchase.
By the way, we've written a blog article detailing all the foreigner rights regarding properties in Greece.
Are there many Americans buying property and living in Greece in 2026?
As of early 2026, Americans represent a visible but relatively small minority among foreign property buyers in Greece, with official Ministry of Migration data showing several hundred US nationals holding residence permits under investment programs by late 2024. The highest concentrations of American expats and property owners in Greece are found in central Athens neighborhoods like Kolonaki and Koukaki, the Athens Riviera stretching from Glyfada to Vouliagmeni, the islands of Crete and the Cyclades (especially Santorini and Mykonos), and the Ionian islands like Corfu. Americans are drawn to Greece for three main reasons: the relatively affordable cost of living compared to major US cities, the Mediterranean climate and lifestyle, and the availability of residency pathways through property investment. The American expat community in Greece is growing steadily, driven by remote work flexibility, increased interest in European residency options, and favorable coverage of Greek lifestyle in American media.
Do foreigners have the same buying rights as locals in Greece?
In most parts of Greece, foreign buyers including US citizens have essentially the same property rights as Greek nationals, and there is no legal distinction between Americans and other non-EU foreigners when it comes to purchasing residential real estate. The main restriction applies to properties located in designated frontier or border areas (primarily along northern borders and certain eastern Aegean islands), where non-EU citizens must obtain special permission from local authorities before acquiring property rights.
We cover all these things in length in our pack about the property market in Greece.
Can I buy property in Greece without a residence permit?
You do not need a Greek residence permit to buy property in Greece, and many Americans complete purchases while living entirely abroad. The process for non-resident buyers typically involves granting power of attorney to a Greek lawyer who can handle document signing, tax registration, and notary appointments on your behalf. However, buying property in Greece does not automatically grant you any visa or residency rights, though separate investment-based residence programs exist with their own minimum thresholds and application processes. The main practical challenge for remote buyers is coordinating time zones for bank transfers, notary scheduling, and ensuring your lawyer has all necessary documents authenticated and apostilled from the US.
Can US citizens own land in Greece?
US citizens can own land outright in Greece in most locations, whether purchasing a house with its plot or an apartment where you hold a share of the building's land through common ownership. Greece operates primarily on a freehold ownership system where you acquire full property rights, though leasehold or usufruct arrangements can exist in specific situations and are not the default for residential purchases. The geographic zones where foreign land ownership faces restrictions are the designated frontier and border areas under Law 1892/1990, which include certain regions near northern borders with Albania, North Macedonia, Bulgaria, and Turkey, as well as some eastern Aegean islands close to the Turkish coast.
Please note that we have a dedicated blog article about the land buying process in Greece here.
What documents will I need to buy in Greece?
The essential documents a US citizen needs to purchase property in Greece include a valid passport with certified copies, a Greek tax identification number (AFM), proof of funds showing the source of your purchase money, and if buying remotely, a notarized and apostilled power of attorney for your lawyer. Yes, a Greek tax ID is required for foreign buyers, and you can obtain one through the AADE tax authority either in person at a local tax office or remotely through their online portal with the help of a tax representative. While not legally mandatory, opening a Greek bank account is highly practical because you will need it to pay property taxes like ENFIA, utility bills, and to receive or send purchase funds smoothly. Banks in Greece will typically ask for proof of funds such as recent bank statements, documentation showing the legitimate source of your money (like a property sale or savings history), and while you do not need a Greek address, you will need to designate a tax representative in Greece to receive official communications from AADE.
We have a whole section dedicated to all the documents you need in our Greece property pack.
Can a foreign-owned company buy property in Greece?
Foreign-owned companies can legally purchase residential property in Greece, and Greek property tax (ENFIA) applies to legal entities just as it does to individuals. Some Americans do use company structures similar to LLCs to hold Greek property, often for estate planning, co-ownership simplification, or when investing in multiple properties, with the most common Greek entity type being the IKE (private company) due to its simpler setup. Owning property through a company does not automatically lower your taxes in Greece, and in some cases it can increase your tax burden because companies face different rates, additional accounting requirements, and potential look-through rules for US tax reporting. The main drawback of company ownership for residential property in Greece is the added complexity and cost: you will have annual accounting fees, corporate filings, potential US reporting obligations for foreign entity ownership, and banks may be less willing to offer mortgages to company buyers.
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What taxes and fees will I pay in Greece in 2026?
What are buyer taxes in Greece in 2026?
As of early 2026, the main buyer tax on residential property in Greece is the Real Estate Transfer Tax at 3% of the taxable value, meaning on a property valued at 200,000 euros (about 215,000 USD), you would pay 6,000 euros (about 6,450 USD) in transfer tax. The transfer tax is typically the only buyer tax component for resale properties, though new-build purchases may involve VAT at 24% instead of transfer tax, however Greece has extended a VAT suspension mechanism through December 31, 2026 that allows many qualifying new properties to pay the lower 3% transfer tax if certain conditions are met. There is no difference in buyer tax rates for foreigners versus Greek locals, and the rate does not change based on whether the property is a primary residence or an investment property in Greece.
If you want to go into more details, we also have a page detailing all the property taxes and fees in Greece.
What are other closing costs in Greece in 2026?
As of early 2026, buyers in Greece should budget around 5% to 8% of the purchase price for closing costs beyond the transfer tax, meaning on a 200,000 euro property (about 215,000 USD), expect roughly 10,000 to 16,000 euros (about 10,750 to 17,200 USD) in additional fees. The main closing cost categories in Greece include notary fees at around 1% to 1.5% (2,000 to 3,000 euros on a 200,000 euro property), lawyer fees at roughly 1% (2,000 euros), Land Registry or Cadastre registration fees at 0.5% to 1% (1,000 to 2,000 euros), and real estate agent commission typically at 2% to 2.5% plus VAT (4,000 to 5,000 euros plus VAT). The agent commission is often negotiable and sometimes paid by the seller depending on the agreement, and you can reduce costs by not using an agent if you find the property yourself. The closing cost that tends to surprise foreign buyers most in Greece is that taxes and some fees are calculated on the "objective" or tax value of the property rather than your negotiated purchase price, and if the objective value is higher than what you paid, your costs will be higher than expected.
Are there hidden fees foreigners miss in Greece right now?
Foreign buyers in Greece commonly overlook around 2,000 to 5,000 euros (about 2,150 to 5,400 USD) in unexpected costs, depending on the property and their specific situation. The top three hidden fees that catch foreign buyers off guard in Greece are: costs based on the higher "objective value" rather than the negotiated price (which can add 1,000 to 3,000 euros in extra taxes and fees), Cadastre registration complications and certificate fees in areas with incomplete digital records (500 to 1,500 euros in extra admin and delays), and border-area permission application costs and legal fees if buying in a restricted frontier zone (1,000 to 2,000 euros in legal and processing fees). After purchase, foreign owners often underestimate ongoing annual costs in Greece including ENFIA property tax (typically 200 to 2,000 euros per year depending on property size and location), municipal charges bundled with utility bills (300 to 600 euros annually), and property management fees if the property is vacant or rented out (500 to 1,500 euros per year).
Getting surprised by hidden fees is one of the pitfalls people face when buying real estate in Greece.
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.
Can I get a mortgage as a US citizen in Greece in 2026?
Do banks lend to US citizens in Greece in 2026?
As of early 2026, several major Greek banks explicitly offer mortgage products for non-residents and foreigners, and US citizens with clean documentation and stable income are routinely eligible to apply. US citizens are generally treated similarly to other non-EU foreign nationals when applying for mortgages in Greece, meaning no special advantage but also no specific disadvantage compared to buyers from other countries. The main reason some Greek banks are cautious with American borrowers specifically relates to FATCA compliance requirements, which create additional reporting burdens for banks and can make some smaller institutions reluctant to take on US clients. While exact approval rates are not published, US citizens with strong income documentation, a down payment of 30% or more, and clear source of funds have a reasonable chance of approval at the major Greek banks that actively market to international clients.
There is a full document dedicated to mortgage for foreigners in our pack covering the property buying process in Greece.
What down payment do American people need in Greece in 2026?
As of early 2026, US citizens should plan for a minimum down payment of 30% to 40% to obtain a mortgage in Greece, meaning on a 200,000 euro property (about 215,000 USD), you would need 60,000 to 80,000 euros (about 64,500 to 86,000 USD) in cash upfront. The typical down payment range for foreign buyers in Greece spans from 30% at the minimum for strong applications to 40% or more as the recommended amount to improve approval odds. Yes, a larger down payment generally improves your mortgage terms in Greece because banks see lower risk when lending a smaller percentage of the property value, which can result in better interest rates and easier approval for American buyers.
You can also read our latest update about mortgage and interest rates in Greece.
What interest rates do US citizens get in Greece in 2026?
As of early 2026, US citizens can expect mortgage interest rates in Greece ranging from about 3.5% to 5.0%, depending on the loan structure, down payment, and individual credit profile. Interest rates for foreign buyers in Greece are generally similar to or slightly higher than rates offered to Greek residents, with the difference typically reflecting the additional risk banks perceive in cross-border income verification and enforcement. Variable-rate mortgages are more common for foreign buyers in Greece, often structured with a fixed introductory period of 1 to 5 years followed by a rate that floats with the Euribor, though some fixed-rate options exist. The single factor with the biggest impact on your interest rate as a US citizen in Greece is your loan-to-value ratio, meaning a larger down payment (resulting in a lower percentage borrowed) will typically secure you a better rate.
Can I use US income to qualify in Greece right now?
Greek banks commonly accept US-sourced income for mortgage qualification, and products from major lenders are explicitly designed for international customers with foreign earnings. Banks in Greece typically require American applicants to provide 2 to 3 years of US tax returns, recent pay stubs or employment verification letters, and 6 to 12 months of bank statements showing regular income deposits. Some Greek banks, notably Piraeus Bank, even structure mortgages around USD income profiles and can work with foreign currency earnings, which can simplify qualification for Americans who earn in dollars rather than euros.
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How do US taxes interact with owning property in Greece?
Do I have to declare the property to the IRS from Greece?
Owning Greek real estate by itself does not typically require a special IRS form just because the property exists, as foreign real estate is generally not considered a "specified foreign financial asset" for Form 8938 reporting purposes. However, related items you create by owning property in Greece can trigger US reporting requirements: a Greek bank account may require FBAR filing if your foreign accounts exceed 10,000 USD at any point during the year, and holding property through a foreign company could make your ownership interest reportable on Form 8938 or other foreign entity forms. Simply owning the property does not trigger IRS reporting, but generating rental income, selling the property, or opening foreign financial accounts to manage the property will create US tax obligations.
Will I pay tax twice in the US and Greece in 2026?
As of early 2026, US citizens can often avoid true double taxation on Greek property through available treaty protections and foreign tax credits, though you may still need to file tax returns in both countries. Yes, there is an income tax treaty between the United States and Greece, with the full treaty text available through the IRS, which provides mechanisms to prevent the same income from being fully taxed by both countries. The Foreign Tax Credit allows you to offset income taxes paid to Greece against your US tax liability, so if you pay Greek tax on rental income or capital gains, you can generally claim a credit to reduce your US tax bill by that amount. Whether Greek property taxes like ENFIA are deductible on US federal returns depends on your specific tax situation and current US rules, so this is one of the first questions to discuss with a cross-border CPA.
Do I need FATCA reporting when buying in Greece?
FATCA reporting for US citizens buying property in Greece primarily concerns foreign financial accounts and certain financial assets, not the real estate itself. FATCA Form 8938 thresholds for foreign financial assets are 50,000 USD for single filers (200,000 USD if living abroad) at year end, or 75,000 USD (300,000 USD abroad) at any point during the year, but remember that the Greek property itself generally does not count toward these thresholds. FATCA reporting through Form 8938 differs from FBAR in that FATCA covers a broader range of foreign financial assets filed with your tax return, while FBAR is specifically for foreign bank and financial accounts over 10,000 USD filed separately with FinCEN. Consulting a US CPA before buying property in Greece is strongly recommended, and you should specifically ask about which accounts will trigger FBAR, whether your ownership structure creates Form 8938 obligations, and how to properly report any rental income or eventual sale proceeds.
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.
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 We Trust It | How We Used It |
|---|---|---|
| AADE (Greek Tax Authority) | Official government tax authority for Greece. | We anchored our transfer tax rate (3%) and buyer tax explanations on this source. We also used it to confirm AFM requirements for foreign buyers in Greece. |
| European Land Registry Association (ELRA) | European professional network summarizing national land laws. | We relied on ELRA to explain border area restrictions under Law 1892/1990. We used it to confirm that Greece is generally open to foreign buyers outside restricted zones. |
| Gov.gr Cadastre Portal | Official Greek government services website. | We used this to explain how property registration works in Greece. We referenced it for Cadastre fees and the title transfer process. |
| Greek Ministry of Migration and Asylum | Official ministry publishing residence permit statistics. | We used ministry data to estimate American buyer and expat numbers in Greece. We cross-checked investment permit volumes to gauge US participation. |
| Eurobank | Major Greek bank with explicit non-resident mortgage products. | We used Eurobank's product page to confirm mortgage availability for Americans. We referenced their terms to illustrate typical rates and requirements in Greece. |
| Bank of Greece | Central bank of Greece publishing official interest rate data. | We used Bank of Greece statistics to ground our mortgage rate discussion. We cross-checked bank marketing claims against official lending rate averages. |
| IRS (Form 8938 Guidance) | Official US tax authority explaining FATCA requirements. | We confirmed that foreign real estate itself is not reportable on Form 8938. We used IRS guidance to clarify common misconceptions for American buyers. |
| FinCEN | US Treasury bureau administering FBAR filings. | We verified the 10,000 USD threshold and filing requirements for foreign accounts. We used FinCEN as the source of truth for FBAR rules affecting Greece property owners. |
| KPMG TaxNewsFlash | Major accounting firm citing specific enacted legislation. | We used KPMG to confirm the VAT suspension extension through December 2026. We relied on their summary of Law 5246/2025 for time-sensitive tax guidance in Greece. |
| IRS (Greece Tax Treaty) | Official US source for bilateral tax treaty texts. | We confirmed the existence of the US-Greece tax treaty through IRS documents. We used it to explain double tax relief options for American property owners in Greece. |
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