BackThe Greek property purchase process is not complicated — but it has several non-negotiable steps that, if done out of order or skipped, will either delay your acquisition significantly or cost you money you didn't need to spend. This is the honest, step-by-step version, written for international buyers who want to understand what they're actually getting into before they start.
Can foreigners buy property in Greece?
Yes, with very few restrictions. Non-EU nationals can purchase property in Greece freely in the vast majority of the country. The exception is border zones and certain security-sensitive areas near land borders and some island groups close to Turkey — purchasing in these areas requires additional permits from the Greek Ministry of Defence. In practice, this affects very few of the areas where international investors are active.
EU nationals face no restrictions whatsoever. For non-EU nationals, the process is identical to EU nationals with the addition of a few extra documentation steps that a good Greek lawyer handles as standard.
The six steps, in order
Before you can do anything in Greece — open a bank account, sign a purchase contract, pay taxes — you need an AFM (Arithmos Forologikou Mitroou), a Greek tax identification number. This is the single most important administrative step and it must come first.
You can obtain an AFM in person at a Greek tax office, or remotely via a power of attorney given to your Greek lawyer. Remote AFM registration is standard practice and takes 2–3 weeks. Factor this into your timeline from the very beginning.
This is not optional. Greek property law requires a notary for the final purchase deed, but a notary acts for both parties and does not specifically protect your interests. Your own lawyer conducts the title search, reviews contracts, handles power of attorney matters, and guides you through the process. Legal fees are typically 1–2% of the property value.
Choose a lawyer who is independent of your estate agent and the seller. An agent-recommended lawyer who also represents sellers in other transactions is a conflict of interest you don't want in a market where you are unfamiliar with the norms.
Once you have identified a property, your lawyer will conduct a full title search at the Hellenic Cadastre (Ktimatologio) and, where applicable, the local land registry. This covers:
- Ownership verification and chain of title
- Any mortgages, liens, or encumbrances on the property
- Planning permissions and compliance with building regulations
- Tax clearance certificates from the current owner
- Energy performance certificate (EPC) — required by law for all property sales
The Hellenic Cadastre digital system has improved significantly and covers most of Greece, but some areas still run dual systems that require manual checks at local land registries. Budget 4–6 weeks for thorough due diligence. Do not rush this stage.
Once due diligence is complete and terms are agreed, both parties sign a preliminary contract (also called a private agreement). This outlines the price, terms, and timeline to completion. A deposit — typically 10% of the purchase price — is paid at this stage. If the seller withdraws after this point, they must return double the deposit. If you withdraw, you forfeit the deposit.
All funds must be transferred by traceable bank transfer. Greek law requires documented evidence of the legal source of funds. Cash transactions are not eligible and are not accepted by notaries.
The final transfer deed (Symvolaio Agorapolisias) is signed before a Greek notary, with both buyer and seller (or their representatives under power of attorney) present. At this point, transfer taxes are paid:
- Property transfer tax: 3.09% of the higher of the agreed price or objective (taxable) value for resale properties
- New builds (with VAT suspension): VAT at 24% is suspended through December 2026 — a saving that makes new construction purchases particularly attractive this year
- Notary fees: approximately 0.65–1% of the property value
- Registration fees at the Cadastre: 0.475–0.575% of the property value
After signing, the deed is registered at the Hellenic Cadastre, formally transferring title to you. Your lawyer handles this.
Ongoing ownership involves two main tax obligations: ENFIA (the annual property tax), calculated based on the objective value of the property and typically running at 0.1–1% of objective value per year; and income tax on rental income if you let the property, subject to Greek income tax rates on rental earnings.
The VAT exemption on new build properties has been extended through 31 December 2026 under Law 5246/2025. If you are purchasing a new build, this is a meaningful saving — confirm with your lawyer that the property qualifies.
Total acquisition costs: what to budget
| Cost | Approximate rate | Notes |
|---|---|---|
| Property transfer tax | 3.09% | Resale properties. Charged on higher of agreed or objective value. |
| Notary fees | 0.65 – 1% | Both parties typically share notary cost. |
| Cadastre registration | 0.475 – 0.575% | Mandatory final registration at Hellenic Cadastre. |
| Lawyer fees | 1 – 2% | Independent from estate agent. |
| Agent commission | 2 – 3% + VAT | Usually shared, or paid by seller, depending on arrangement. |
| Total buyer costs | ~7 – 10% | On top of purchase price. Plan to 10% to be safe. |
If you are purchasing for the Golden Visa, these acquisition costs are not counted toward the minimum threshold. The threshold refers to the purchase price of the property itself, not total costs.
The mistakes that cost foreign buyers money
- Using a lawyer recommended by the agent. The conflict is rarely overt, but it is structural. Independence is the whole point of having your own counsel.
- Skipping or rushing the Cadastre check. Title issues in Greece are not theoretical — they're the most common reason transactions unwind. Budget the full 4–6 weeks.
- Conflating Golden Visa property with rental property. Golden Visa holdings cannot be short-term rented. If yield is part of the plan, structure two assets from the outset.
- Underestimating closing costs. 7–10% on top of the price is real money. Plan it into the budget before you fall in love with a property.
- Trying to do AFM and bank account from abroad informally. Power of attorney to your Greek lawyer is the standard, traceable, fast route. Anything else costs weeks.
The mistakes that cost buyers money in Greece are almost always the result of skipping due diligence, using non-independent legal representation, or misunderstanding the cost structure.
The process is manageable with the right team in place — a good independent lawyer, a knowledgeable agent, and clear advice on structure from the start. If you are at the beginning of this journey and want a clear picture of what it looks like for your specific situation, the Nexus team is here.
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