Greece’s real estate market is now considered one of the most consistently recovering property markets in Europe. Prices have risen for five consecutive years, and rental demand remains strong thanks to the Greek Golden Visa program.
Each year, more and more international buyers are entering the market. This creates an environment that is promising for long-term growth. In this article, we’ll look at what these trends mean for anyone thinking about buying a property in Greece.
Key Highlights for Greek Real Estate in 2025
- As a foreigner, you can buy property in Greece as long as you meet the legal requirements.
- Buying property in Greece has become a smart move with the potential for property appreciation. Greece Property Evaluation highlights that many areas are expected to see a 10-15% adjustment to their official property valuation rates.
- While buying a property in Greece, you should conduct thorough legal due diligence, verify the property’s title and zoning status, use an independent lawyer, and check for any liens or planning restrictions to avoid common pitfalls.
- If you invest in Greece Golden Visa properties (minimum €250,000), you can get 5-year residency without any minimum stay requirements and include your family members in your application.
What to Expect?
- Golden Visa Path: Can Foreigners Buy Real Estate in Greece?
- Top 5 Benefits of Buying Property in Greece as a Foreign Investor
- How To Purchase Property in Greece?
- Required Documents for Property Purchase in Greece
- Top 7 Steps for Buying a House in Greece as an Expat
- 4 Main Things To Consider Before Buying Property in Greece
- Top 12 Best Places To Buy Property in Greece
- Pitfalls of Buying a House in Greece
- Real Estate Taxes in Greece
- Mortgage in Greece: Financing a Property
Golden Visa Path: Can Foreigners Buy Real Estate in Greece?
If you’re a foreigner and planning to live in Greece, it might be essential to learn about the property market. There are no restrictions as to who can purchase property in Greece, yet EU citizens or residents are considerably more advantageous in the process.
EU residents/citizens often encounter no problems whatsoever during the property transaction process, but non-EU citizens must prove their connection to Greece and their intent for the real estate. Their application is processed by the Ministry of Defence, which evaluates the submitted proof of intent and connection.
And the good news is that you and your family can get residency by purchasing a property within the country’s Golden Visa scheme. To be eligible for the Greek Golden Visa, you must invest in one of the following property types:
- €250,000 minimum: For investing in specialized real estate conversions or restoration projects.
- €400,000 minimum: For buying a single 120 m²+ property in rural or less-dense areas.
- €800,000 minimum: For purchasing property in major cities and populous islands
Once you make your property investment, you can benefit from a 5-year residency permit in Greece, with visa-free travel across the Schengen area.
Your Guide to Buying Greek Property: Get Golden Visa
At Get Golden Visa, we helped many people buy their dream homes in Greece. We’re happy to help you along your journey now.
Contact us to speak to our Greek real estate market advisors who can assist you with your property search in Greece.
Top 5 Benefits of Buying Property in Greece as a Foreign Investor
Ever dreamed of calling Greece your second home? The Greek culture, coastlines, cuisine, landscape, business opportunities, and many other advantages are in themselves sufficient for buying property in Greece.
Apart from that, go through these perks mentioned below. These will entice you to make your decision sooner.
1. Low Taxes
Greece indeed has a lot to offer to foreigners investing in the country. For overseas residents, the country offers terrific tax deals. If your native country is under a tax treaty with Greece, you don’t have to pay double taxes. Moreover, income from Greece’s properties will be taxable in Greece only, and any income from abroad will be tax-free.
The current PM of the country, Mitsotakis, has even announced VAT suspension on the real estate properties in the country. However, you’ll have to pay a property tax each year.
You can also be eligible for the Greek Non-Dom Tax regime, paying a flat €100,000 tax on your foreign income per year. Plus, you can extend it by €20,000 for additional family members. To qualify:
- You should not be a tax resident in Greece for 7 of the last 8 years.
- You must invest at least €500,000 in Greece. It can be a real estate investment, government bonds, or shares of Greek companies.
For retirees in Greece, there is also a 7% flat tax regime on foreign income.
2. Affordable Lifestyle
The country has been blessed with a rich past, splendid scenery, and a treasure of Greek values. Not to mention, the Greeks emphasize family, tradition, and a love of the outdoors. Moreover, Greece offers an affordable lifestyle for all. From a small town to a big tech city, the way of living is full of tranquility and pride.
Moreover, not only is buying property in Greece easy but the lifestyle too, as compared to other European countries, is better than many.
3. Easy To Travel to
Furthermore, with its great connections with the rest of the world, you can travel to Greece without any inconvenience. Therefore, no one will ever find it troubling to reach there. In fact, once you have landed in the country, you will find out that the local transportation system is also very affordable and connected to every town.
4. Expat-friendly
Since it is a welcoming country, the Greeks will treat you as one of their own as soon as you land in the country. Moreover, as more and more people from the EU and non-EU countries are moving to Greece, you will likely find familiar faces amidst the crowd.
Therefore, with these many luxury benefits, who wouldn’t like to move to Greece?
We anticipate you will make a move and buy a property there, so the next section will take you through the buying process.
5. Greece Golden Visa, a Path to European Residency
Greece has a Golden Visa scheme that grants residency in return for investment. If the house you’re going to buy costs a minimum of €250,000, you can be eligible for Greece Golden Visa. With this program, you get visa-free access to Schengen countries and many other benefits.
How To Purchase Property in Greece?
Buying a residential property in Greece is not drastically different from other places, depending on the buyer’s efforts. If the property is chosen carefully with the assistance of professionals and the paperwork is done by a competent lawyer, there should be nothing to worry about.
After the real estate is chosen and the paperwork is completed, the buyer has to pay several additional fees like the notary fee, a stamp duty, and the registration fee. Upon approval of the transaction at the notary, the buyer must register the property with the local Land Registry.
After this final step is completed, the buyer becomes an official property owner in Greece.
Required Documents for Property Purchase in Greece
In Greece, to comply with the local regulations, foreigners buy property by submitting the following documents:
- A valid passport
- AFM (Tax Registry Number)
- Valid visa to enter Greece (in case of a non-EU national)
- Residence proof
- Copy of tax returns
- Government-issued ID proofs
Get Golden Visa: Your Guide to Greece Golden Visa
Get Golden Visa is a full-service investment immigration agency & investment advisory company. We provide end-to-end solutions for residence and citizenship-by-investment programs in numerous countries worldwide.
We helped hundreds of clients find the right property in Greece through our local office.
Contact us and speak with one of our experienced team members to answer any questions you may have.
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Top 7 Steps for Buying a House in Greece as an Expat
1. Take time while researching
The very first thing you need to do is decide the type of property you want to buy. For instance, you have ample options, such as apartments, villas, village homes, or business properties. So, once you know what you want, establish your research in that area.
Keep an eye on online and offline sources, such as newspapers (go through the real estate section of the newspaper for that country). You may also subscribe to the online websites for regular info.
Note: A local real estate agent can also be very helpful.
2. Visit the property for a thorough examination
What’s better than visiting the site in person and gaining insight into what you are buying? Therefore, once you have identified the properties you are interested in buying, travel to Greece and view them.
Besides, check the surroundings and amenities that you’re looking for in a house. Not to mention, a local guide will make your task smoother and save you time.
3. Select the property to buy
After visiting all the shortlisted properties, it’s time to settle for one through carefully conducting property viewings. If you seek some more assurance, give it a double check, a second visit.
Note: It would be great if you could hire a real estate agent with local expertise in the procedure to handle all legal matters related to it.
4. Quote and negotiate the property price
Take care of your budget, and quote the amount that suits your pocket. But make sure that you’re not proposing an unreasonable amount.
Take exchange rates, mortgage availability, and rates into consideration. After you have negotiated and settled on a final price, you are halfway to buying a property in Greece.
Note: Make sure to check any additional charges that increase the property’s price, such as VAT.
5. Reserve the property
Reserve the property by depositing a small amount with the seller to affirm that you will buy the property. This deposit is usually 10 percent of the total price. You will get your preliminary contract.
Caution: Do not pay any amount without consulting with your lawyer, as you may be asked to sign a few documents as well.
6. Draft the Final Deed
Once the lawyer has examined all the regulations, taxes involved, and debts, you will get a copy of the contract from the seller. Also, you will have to go to the notary for the final draft. Once the final deed has been signed before the notary, the process will be recorded in the public records.
The seller will be asked to provide a tax certificate to verify their past record.
7. Get your Tax Number
To get the Greek Tax Registry Number issued, you need to visit the nearest tax office to where you reside. Don’t worry, you do not need an appointment for this.
The Greek Tax Number is called the AFM, and you will get it after you have obtained your full registration card or Residence Permit of Greece. This step can also be done through a legal representative. Besides, get the access codes to the “TAXIS” system to fulfill its reporting obligations.
Finally, after the above procedure is complete, submit the certificates and contract papers to the Registry of Mortgages.
4 Main Things To Consider Before Buying Property in Greece
So, now that you’re ready to take a plunge into the new way of living, below are a few factors to keep in mind while buying property in Greece.
1. Determine your criteria
Now, the type of home you are looking for may depend on factors such as the size of the family, amenities, surroundings, etc. If it’s you alone, or you and your spouse, a one-room or two-room apartment must be sufficient. However, if you expect your parents and children to join you, opting for a villa would be a wise choice.
2. Consider what the must-haves and the nice-to-haves are
3. Know your budget
Greece offers property options for people across every budget range. Once you know your budget, you can easily look at houses that are within your budget. Depending upon the budget, you can settle in any city or town that is offering a property within your range.
4. What is a deal-breaker?
Some of the issues with the property can certainly be a deal-breaker. You may find several flaws during a property tour, such as house maintenance, the pool, and whether the property is pet-friendly. Most importantly, is it even safe to buy a house here, given the surrounding conditions?
Don’t miss out on anything like this, since it has to be the perfect home for you and your family.
Top 12 Best Places To Buy Property in Greece
Do you need a life near the sea, or do you want it in the middle of a busy city? You may prefer it more in the countryside! With hundreds of affordable Greek islands and the mainland comprising mountain villages, cities, and high-end resorts, you have plenty of choices.
Take note of your preference and consider which city would be your ideal home.
1. Athens
Situated amid the crystal-blue coastline, mystic sunsets, and mountainous landscape, Athens is the most popular city and an attractive destination among foreigners looking to buy property in Greece. Property prices are low in the Athens real estate market, and the city has a metropolitan lifestyle. One of the primary factors for the surge in overseas buyers is the high-yielding short-term rental income.
Besides,
- The average cost per square meter of property ranges between €3,500 €5,000
- and the average selling price of a standard apartment ranges from €200,000 to €400,000.
Note: On research, you may also find some cheaper listings for €70,000–€80,000.
The popular neighborhoods of Athens are Plaka, Kolonaki, Syntagma, Monastiraki, and Psiri.
2. Thessaloniki
Thessaloniki is often called the northern capital of Greece and is the country’s second-largest city. Thanks to its affordable housing and high living standards, many expats, especially Americans, prefer to relocate here.
This city can be a great option if you are buying property in Greece.
Besides,
- The average cost per square meter of a property is € 2,310,
- And, the average selling price of a standard apartment now typically starts from around €120,000.
Note: The prices of detached houses vary significantly by location, and figures around €100,000 are now primarily found in outer districts or in properties requiring renovation.
Ladadika and Ano Poli are the most famous neighborhoods of Thessaloniki.
3. Mykonos
The real estate of Mykonos is very famous. Lying between Tinos, Syros, Paros, and Naxos, it is one of the most beautiful islands in the country.
Moreover, towns like Chora and Ornos are considered the most family-friendly parts of Mykonos.
You can choose from numerous plush villas and apartments.
- Smaller villas or entry-level properties in non-prime areas can start around €0.8 million to €1 million.
- Well-finished 2–3-bedroom villas in good locations typically range from €1.5 million to €2.5 million.
- Large 5+ bedroom villas with pools, sea views, or prime-area positioning typically start at around €3 million and can go significantly higher.
4. Santorini
The island of Santorini is a treasure trove of Greece with the iconic landscape and turquoise waters of the Aegean Sea. Above all, this Mediterranean island is a paradise for real estate investors, especially those who want to live in Greece. The cost of living in Greece and the price of the property are both reasonable.
- The cost per square meter in the center is €7,000-€9,000.
- The price per square meter outside the center is €5,000.
5. Corfu
Corfu has plenty of properties available for sale, including stone houses, beachfront villas, and modern apartments. It is situated on the Ionian Sea and is one of the most beautiful and romantic islands in Greece.
- The price per square meter in the center is €2,700-€2,800
6. Crete
Crete is the largest Greek island and is a tapestry of marvelous beaches. It consists of vibrant villages and offers a magnificent lifestyle.
- The price per square meter starts from €1,500
7. Naxos
Naxos is the greenest and the largest in the Cyclades island group in the Aegean Sea. If you are buying property in Greece and want to base yourself close to the stunning seascapes, you have a great opportunity.
8. Paros
There are a number of luxury villas, detached houses, and housing complexes in Paros. Moreover, it is situated on the western side of Naxos and is a hub for boating and transportation in the Cyclades region.
- The price per square meter in the center starts from €4,000
- The price per square meter outside the center starts from €6,500
9. Antiparos
Antiparos lies merely offshore from Paros. Despite being close to the big city, Parosm Antiparos have managed to stay off the radar and are not as crowded as some other Greek islands. If you wish to live a tranquil life, buying property in Greece, Antiparos, can be a great idea.
10. Zakynthos
This island is Greece’s summer resort and is home to famous beaches such as Agios Nikolaos and Alykanas.
11. Milos
This volcanic Greek island can be your next home. Famous for its hamburgers and magnificent lifestyle. You will get to learn a lot about the country’s history during your stay in the city.
- The average price per square meter on Milos is approximately €4,000/m², depending on location, property age, and proximity to the coast.
12. Rhodes
Whether you are seeking an adventurous life or a relaxed one, Rhodes has both to offer. The island is a mix of cosmopolitan and traditional lifestyles fit for all types of people. As of 2025, the average price per square meter on Rhodes is around €2,374/m².
Pitfalls of Buying a House in Greece
- You may find that the land registry is not fully completed in some areas, which can make boundaries or property ownership less straightforward than you expect.
- Some properties have missing or irregular building permits. This can delay your purchase or future renovations.
- Homes near the coast, forests, or archaeological sites, such as Crete or Santorini, often come with strict regulations you might not be aware of.
- Transaction costs in the Greek market can feel higher than in other countries, once you add taxes, notary fees, legal fees, and commissions.
- Bureaucratic processes tend to move slowly, so approvals and transfers may take longer than you are used to.
- Older or island properties can come with hidden renovation costs that are not obvious at first glance.
- Asking prices are not always aligned with actual market value, so it’s easy for a foreign buyer to overpay without guidance.
- Ownership can be surprisingly complicated if a property has been inherited by multiple family members, which can stall negotiations.
- Some properties lack proper legal access or essential utilities, even if they appear straightforward in listings.
- Rules for short-term rentals (like Airbnb) change often, which can impact your rental plans or income expectations.
Real Estate Taxes in Greece
After buying a property in Greece, you become subject to tax obligations. Besides, you also have to pay taxes on the acquisition, along with the annual property tax.
Property Acquisition Taxes
The price and the tax rates in Greek properties are as follows:
| Tax / Fee | Rate | Who Pays | What It Means |
|---|---|---|---|
| Property Transfer Tax (FMA) | 3% of the property’s taxable value | Buyer | This is the central tax when buying resale properties. |
| Municipal Surcharge | 3% of the transfer tax amount | Buyer | A small additional municipality fee applied on top of the 3% transfer tax. |
| Total Effective Transfer Cost | Approximately 3.09% | Buyer | What buyers actually pay in practice (transfer tax + municipal surcharge). |
| VAT on New Properties | Normally 24%, but currently suspended until end-2025 | Buyer | New builds typically taxed at 24% VAT instead of transfer tax. Suspension allows buyers to pay the lower 3.09% rate. |
| Notary Fees | Around 0.8% – 1% of the property value | Buyer | The notary prepares and signs the official purchase contract. |
| Land Registry / Cadastre Fees | Around 0.5% – 0.7% of the property value | Buyer | Mandatory registration of the property in the Greek Land Registry. |
For additional details specific to your situation, it is always best practice to ask a lawyer.
Recurring Property Taxes
Furthermore, when you buy a property in Greece, a transfer tax has to be paid. This rate is usually 3.09 percent of the taxable property value.
Also, a real estate property tax known as the ENFIA (Greece’s annual property tax) is charged annually to both natural and legal entities owning property in Greece. After buying a property, you must submit a declaration of real estate information through the E9 form. This step is necessary because it enables the ENFIA assessment to take place.
Accordingly, your central tax will be calculated based on several criteria, typically 5% or 5.5% of the value of your property. You can pay it annually. You can either pay the full amount in a single payment or split it into up to 10 monthly installments, as long as all payments are made by February of the following year.
Rental Income Taxes in Greece
Below are the tax rates for the following income amounts:
| Income Bracket | Tax Rate |
|---|---|
| €12,000 | 15% |
| Between €12,000 and €35,000 | 35% |
| More than €35,000 | 45% |
Mortgage in Greece: Financing a Property
The Greek banks no longer provide many mortgages, and even if they do, they don’t lend more than 75 percent of the property’s value. However, some might want you to set 50 percent of the total value.
Furthermore, most banks offer 3.0% to 6.5% percent fixes.
So, if you want to finance your property, you can do it in two ways.
- Remortgage: If you remortgage your current property, you can use the proceeds to buy property in Greece. This way, you will establish your credit record with ease.
- Arrange Cash Through Brokers: Now, arranging money to buy property in Greece can be just a phone call away. The brokers and finance houses will help you with the finances.
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Frequently Asked Questions on the Greek Real Estate Market
Can I buy property in Greece as a UK citizen?
Yes, UK citizens can purchase residential properties or vacation homes in Greece without becoming legal residents, even after Brexit. They can also consider obtaining long-term residency through the Golden Visa program.
Is it easy to buy a house in Greece?
Buying real estate in Greece is not hard, provided that the buyer does their homework. After choosing the property, appointing a competent lawyer who can do the documentation efficiently and quickly can considerably shorten the process.
Also, according to the Greek constitution, every buyer must be a taxpayer. It means that the buyer must obtain a tax number, which can be obtained within one day.
Once these processes are completed, the buyer can pay the stamp duty, which is approximately 3% of the transaction value. Finally, the acquisition must be completed before a notary and registered with the local Land Registry.
How can I buy a house in Greece as an American?
The first requirement for buying a property in Greece is to become a taxpayer. After opening a Greek bank account, one can register for a tax number. Then the buyer’s lawyer checks the property titles and produces the necessary documents for the transaction.
The next step is to sign the title transition contract, which can only be done if the buyer is ready to pay the full price of the property.
Then all the documents are submitted for the registry, and the Land Registry issues a certificate for the property title. The only additional steps to these are choosing the property and negotiating the price with the seller.
Is Greece a good place to buy property?
After the global economic crisis of 2008, Greece underwent a significant transformation. Not only its economy but also its cities underwent comprehensive gentrification that pulled the real estate market back out of the hole it had fallen into because of the crisis. Now that the Greek property market is regaining its value, the market offers investors attractive opportunities.
Still below their pre-crisis peak, Greek real estate is relatively cheaper than in other European countries. This quality, along with its strong potential, makes buying Greek property now a good idea.
The country’s recovering market is also aided by its strong performance in tourism, which is another driving factor behind the comeback of real estate market values. Now is a great time to take advantage of Greek properties.
Is buying property in Athens a good investment?
Now that Greece is back on its track, investing in Athens property and reaping the harvest later is an excellent idea for potential investors.
How much money do I need to deposit to buy property in Greece?
A down payment can be made through online accounts using platforms like TransferWise, which allow customers to view exchange rates and international money transfer charges. The usual deposit for Greek properties is 10 percent of the total price of the real estate.
What are the costs of buying a property in Greece?
The initial cost of buying a home in Greece is, of course, the value of the real estate. There will likely be a 10% down payment on the property before the legal transaction. There are further charges and taxes to be paid during the process. The expenses include taxes, agent fees, lawyer fees, notary fees, and registry charges.
How do I choose the right property?
The first condition of choosing the right property is knowing what one wants. Since no type of real estate is unavailable in Greece, one should decide on the desired form of the property beforehand. Sticking to the most popular choices might be a safe bet, but some other options (apartments) that are under the radar of many investors offer great benefits, too.
The second aspect to be worried about is the condition of the building itself. Greece is a civilization that dates back thousands of years, with breathtaking historical architecture that may come at a cost.
There are many properties in Greece in need of maintenance. Thus, it is always a good idea to inspect the real estate beforehand to ensure everything is in order.
What are the total costs beyond the purchase price in Greek real estate?
Beyond the purchase price, you should budget for about 6-10% in additional costs. These include transfer tax, notary fees, land registry fees, and legal fees.
