How to Buy Property in Greece as a Foreigner – Step-by-Step Guide
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Updated: April 2025
Buying property in Greece can be a smart investment and a gateway to the Mediterranean lifestyle. Whether you’re looking for a vacation home, a rental property, or a residence for relocation or Golden Visa purposes, this step-by-step guide walks you through the process.
Step 1: Choose Your Location & Purpose
Before anything else, define your goal:
– Vacation home
– Investment (rental yield or long-term resale)
– Permanent relocation
– Golden Visa residency
Each purpose may influence where you buy. For example, Golden Visa properties must meet a minimum investment threshold depending on the area (€250K, €400K, or €800K).
Step 2: Appoint a Local Lawyer
As a foreigner, it’s highly recommended to work with a Greek real estate lawyer. They will:
– Verify legal ownership and titles
– Check for debts, encumbrances, or zoning issues
– Draft and review contracts
Tip: We can recommend trusted legal partners experienced with international buyers.
Step 3: Get a Greek Tax Number (AFM)
You’ll need a Greek Tax Identification Number (AFM), which your lawyer can help obtain. This is required for:
– Property purchase
– Opening a bank account
– Paying related taxes and fees
Step 4: Open a Greek Bank Account (Optional but Recommended)
Although not always mandatory, opening a local bank account can make things smoother:
– Paying purchase taxes
– Handling maintenance or utility bills
– Receiving rent income (if it’s an investment property)
Step 5: Property Due Diligence
Your lawyer and agent will conduct all legal checks. We also recommend:
– Technical inspection by an engineer
– Reviewing floor plans and building permits
– Verifying compliance with planning/zoning laws
Step 6: Sign the Pre-Agreement
This is usually a reservation agreement or pre-contract, outlining:
– Agreed price
– Timeline
– Terms for final sale
– Payment method
It’s often accompanied by a small deposit, held in escrow.
Step 7: Sign the Final Contract (Before a Notary)
The final contract must be signed in the presence of a Greek notary, with both buyer and seller (or legal representatives) present. After signing:
– The property is officially transferred
– Title is registered in the National Land Registry (Ktimatologio)
Additional Costs to Expect
Typically, buyers should budget an additional 8–11% of the property price for:
– Property Transfer Tax (3%)
– Notary fees
– Lawyer fees
– Agent commission
– Land Registry fees
Step 8: Enjoy Your Property or Let Us Manage It
Whether you’re planning to use it seasonally or rent it out, we offer Property Management Services including:
– Maintenance & cleaning
– Rent collection
– Short-term rental (Airbnb) setup
Bonus: Considering the Golden Visa?
If your investment is for residency, make sure the property meets the current legal thresholds and usage conditions. You can learn more in our full Golden Visa section.
Although not always mandatory, opening a local bank account can make things smoother:
– Paying purchase taxes
– Handling maintenance or utility bills
– Receiving rent income (if it’s an investment property)
Need help with the process?
We’ve helped dozens of international clients navigate the Greek market safely and successfully. Contact us for a personalized consultation.
*Disclaimer: This article is for informational purposes only. For legal advice, always consult with a certified professional.*
