Buying Property in Greece as a Foreigner – What the Law Says
Buying property in Greece as a foreigner carries no nationality-based restrictions. Citizens of any country – EU or non-EU, American, British, Canadian, Australian, Middle Eastern can purchase residential or commercial real estate under exactly the same conditions as Greek nationals.
The one exception: certain areas in border regions, particularly islands near Turkey, require approval from the Greek Ministry of National Defence for non-EU purchasers. This affects a limited number of locations and does not apply to purchases in Athens, the Peloponnese, Crete, the Cyclades, Corfu, Rhodes, or Zakynthos. Your lawyer confirms during due diligence whether a specific property sits within a restricted zone.
Your First Step: The AFM Tax Number
Before any property transaction in Greece, you must obtain a Greek tax identification number – the AFM (Arithmos Forologikou Mitroou). This is required for all fiscal activity in Greece: property purchases, bank accounts, utility connections.
The AFM is obtained through a local tax office, typically within 3-7 working days. Your Greek lawyer can obtain it on your behalf using a power of attorney if you are not physically in Greece.
Buying Property in Greece as a Foreigner – Purchase Taxes and Costs
Understanding the tax structure is essential before buying property in Greece as a foreigner, because the costs differ depending on whether you are purchasing a resale or a new build.
Resale property: Transfer tax of 3.09% of the taxable value of the property applies. This is the most common route for international buyers and the most straightforward.
New build: 24% VAT technically applies. However, most Greek developers are currently operating under a government VAT suspension. Under the suspension, buyers pay the reduced 3.09% transfer tax instead of VAT. Confirm with your lawyer whether your specific property falls under this suspension — it significantly affects your total purchase cost.
Total closing costs: budget 5.5–7% above the purchase price, covering:
- Transfer tax: 3.09%
- Notary fees: 1–1.5%
- Lawyer fees: 1–1.5%
- Land Registry and Cadastre registration: approximately 0.5%
For a €400,000 property, expect approximately €22,000–28,000 in additional costs on top of the purchase price.
The Greece Golden Visa in 2026
Buying property in Greece as a foreigner can qualify you for a 5-year renewable EU residency permit under the Greece Golden Visa program. There is no minimum residency requirement — you do not need to live in Greece to maintain the permit.
Investment thresholds as of 2026:
€800,000 – High-demand areas: central Athens (Attica), Thessaloniki, Mykonos, Santorini, and larger islands with populations over 3,100. The property must be a single asset of at least 120 square metres.
€400,000 – All other regions of Greece not included in the higher threshold. Single asset, minimum 120 square metres.
€250,000 – Commercial property converted into residential use, and heritage building restorations. These do not require the 120 square metre minimum.
After 5 years of residency (spending 183 days per year in Greece), you may apply for permanent residency. After 7 years meeting the same requirement, you may apply for Greek citizenship subject to passing language, history, and culture examinations.
Processing time: Greece significantly reduced its Golden Visa backlog through 2025. Applications in 2026 are processing in approximately 6-9 months.
Important: from January to November 2025, Greece approved 7,875 Golden Visa applications – 95% more than in the previous year (Greece Ministry of Migration and Asylum). Demand is rising strongly.
Greece Property Market in 2026
Apartment prices across Greece rose 7.7% year-on-year in Q3 2025, with new apartments up 6.6% and existing apartments up 8.5% (Bank of Greece RPPI). Athens has seen 53% price appreciation since 2018 – prime areas now average approximately €3,200 per square metre. Mykonos and Santorini have risen over 70% since pandemic lows.
Capital gains tax on property sales in Greece is currently suspended until December 31, 2026. Individual sellers pay 0% capital gains tax on profit from property sales during this period. After December 31, 2026, a 15% capital gains tax will apply. This creates a genuine exit advantage for buyers who purchase and resell before the suspension ends.
Inheritance Tax in Greece – What Buyers Must Know
Greece applies inheritance tax on property located in Greece, regardless of the nationality or residency of the heir.
Rates are progressive and depend on the relationship between the deceased and the heir:
- Close relatives (spouse, children, parents): 1-10% on values up to €500,000, with a €150,000 tax-free threshold (€400,000 for surviving spouses)
- More distant relatives: 1-20%
- Unrelated heirs: up to 40%
Tax is calculated on the official “objective value” of the property, which is typically lower than market value. Consult a Greek tax lawyer on your specific inheritance planning position before purchasing.
Tax Advantages for Foreign Buyers in Greece
Non-Dom lump-sum regime: Foreign nationals who transfer their tax residence to Greece and have not been Greek tax residents for 7 of the past 8 years can pay a flat annual tax of €100,000 on all foreign-sourced income, regardless of the amount. This regime runs for up to 15 years and can be extended to family members at €20,000 per additional person. A minimum investment of €500,000 in Greek assets is required to qualify.
7% flat tax for foreign retirees: Foreign pensioners transferring tax residence to Greece pay a flat 7% on all foreign-sourced pension income for up to 15 years. Your home country must have a double taxation treaty with Greece.
Rental income: Taxed at 15-44% depending on annual amount. A 3-year tax exemption applies to certain long-term residential leases signed between September 2024 and December 2025 on properties under 120 square metres.
Title Due Diligence – The 30-Year Check
Greece operates two overlapping land administration systems: the older Hypothykí (mortgage registry) and the newer Ktimatologio (National Cadastre). Not all properties are fully registered in the Ktimatologio, and discrepancies between the two systems can create title problems that surface years after purchase.
Your lawyer must conduct a title search going back at least 30 years, confirming clean ownership transfer at every point. Properties in some areas – particularly older buildings and rural land may have incomplete registration, boundary disputes, or unresolved inheritance claims that are invisible on a basic search.
The Ktimatologio alone is not sufficient. The deeper 30-year search is what protects your purchase.
The Buying Process Step by Step
- Obtain your AFM tax number
- Open a Greek bank account
- Engage an independent Greek lawyer
- Agree price and sign a preliminary purchase agreement – pay 10% deposit
- Lawyer conducts full 30-year title search, building permit check, and cadastral search
- Sign the final sale contract before a notary
- Register the contract with the Land Registry and Cadastre
- Receive certified property documents
For a standard purchase, the process takes 1-4 months. For Golden Visa purchases, add approximately 3 months for residency permit processing after the property transaction completes.
Independent Guidance
Soulberg Estates works with personally vetted partners in Greece – agents and legal professionals who know how to conduct thorough title due diligence and who operate with the buyer’s long-term outcome as the priority.
Download the Soulberg Greece Buyer’s Guide or begin your enquiry to speak directly before anything moves forward.
Buyer Questions
Buying Property in Greece — Golden Visa & Island Homes
Yes. EU citizens face no restrictions. Non-EU nationals can purchase freely in most of Greece but require special ministry permission to buy in border regions and certain islands close to Turkey (including Rhodes and Kos). This permission is routinely granted and handled by your lawyer. There is no minimum investment requirement to simply own property in Greece.
Greece’s Golden Visa grants a 5-year residency permit (renewable indefinitely) to non-EU nationals who invest in Greek real estate. As of 2024, the minimum threshold was increased in high-demand areas including Athens, Thessaloniki, Mykonos, and Santorini to €800,000. In other areas of Greece, the threshold remains €400,000. The visa covers the buyer plus family members, requires no minimum days of residence, and grants Schengen Area travel rights. In select cases, a €250,000 investment may still qualify for the Golden Visa when purchasing properties designated for conversion or restoration. These opportunities are more specialized and typically suited for investors comfortable with development or renovation projects.
Budget 10–14% above the purchase price. Main costs: Property Transfer Tax (3.09% of objective value), notary fees (0.8–1%), land registry fees (0.475–0.575%), lawyer fees (1–2%), and agent commission (typically 2–4% paid by buyer plus VAT). For new builds with a construction permit issued after January 2006, VAT of 24% applies instead of transfer tax (suspended in many areas). Annual ENFIA property tax varies by location and property value.
Mykonos and Santorini command the highest prices (€5,000–€15,000/m²) with very strong short-term rental demand. Crete is the most accessible island market with a broad price range and year-round population. Corfu attracts British buyers with good direct flights. Paros and Naxos are emerging options with lower entry prices. Athens city centre offers solid rental yields of 5–7% and has seen significant price appreciation.
The Greek buying process typically takes 2–4 months. Steps: (1) Obtain a Greek Tax Registration Number (AFM) — required to sign any contract; (2) Open a Greek bank account; (3) Hire an independent lawyer to conduct a title search and verify planning status; (4) Sign a preliminary contract (prometía) with a 10% deposit; (5) Final notarial deed signed before a Greek notary; (6) Property registered with the Land Registry or Cadastre.
Key risks include: illegal extensions (structures built without permits, subject to fines or demolition orders); agricultural land with building restrictions; properties without proper title registration in areas not yet transferred to the new Cadastre; and earthquake zone considerations for building insurance. Thorough title searches and structural surveys are essential — not optional — for island purchases.