For an in-depth exploration of the Greek real estate market, including detailed guides, investment strategies, and insider tips, download our exclusive e-book
Your Gateway to Greek Real Estate Success:
Greece, as a proud member of the European Union, is a country that offers a rare combination of security, stability, and opportunity for those looking to invest or make it their home. From its rich cultural heritage to its modern, thriving economy, Greece stands as a beacon of potential for investors. Let us take you on a journey through what makes Greece such an exceptional choice for those seeking growth and fulfillment:
Imagine living in a place where security and stability form the foundation of everyday life. Greece offers a safe environment, backed by a stable government, a reliable healthcare system, and world-class education. But it’s not just about security—it’s also about lifestyle. The Mediterranean climate, dynamic cities, and beautiful islands invite you to enjoy a sophisticated yet authentic way of life.
Why Invest in Greece?
A Secure and Stable Environment
As a member of the European Union, Greece provides a sense of security with strong governance, reliable healthcare, and top-tier educational systems
Mediterranean Lifestyle
The pleasant climate, stunning coastlines, and vibrant urban centers offer the perfect blend of cosmopolitan living and authentic Greek charm
A Thriving Economy
Greece’s economy has steadily recovered from the 2008 crisis, and its real estate sector now presents attractive investment opportunities
Encouraging Investment Policies
● Low property purchase tax of just 3.09%
● Full exemption from capital gains tax on property sales
● 100% ownership rights for foreign investors
● Favorable tax treaties, such as between Greece and Israel, making investments both legitimate and secure
Growing Mortgage Market
The once-closed mortgage market is slowly opening up, creating opportunities for increased property values and investment returns
Strengthening Diplomatic Relations
The improving diplomatic ties between Greece and countries like Israel further solidify the safety and attractiveness of investing here
Greece isn’t just a place to buy property — it’s a place where your investment can grow in an environment that offers both timeless beauty and modern prosperity. Whether you're seeking a second home or a promising business opportunity, Greece offers the perfect balance of lifestyle and growth
Real Estate Market Overview
Diverse Property Options
From historic urban apartments in Athens to luxurious villas on the islands, Greece provides a wide array of real estate opportunities to suit various preferences and budgets
Competitive Pricing
Despite recent appreciation, Greek property prices remain attractive compared to other European markets, offering significant value for investors and homebuyers
High Rental Yields
In popular tourist areas and city centers, rental properties can yield substantial returns, driven by consistent demand from both tourists and locals
Key Regions for Investment
Athens
The capital city combines historical charm with modern amenities, featuring neighborhoods like Kolonaki and Koukaki that are highly sought after for both residential and commercial investments
Thessaloniki
As Greece's second-largest city, Thessaloniki offers a vibrant cultural scene and a growing real estate market, particularly appealing to younger demographics and students
Greek Islands
Islands such as Mykonos, Santorini, and Crete are synonymous with luxury living and attract high-end investors seeking exclusive properties with stunning vistas
Legal Considerations
Property Ownership
Greece permits foreign property ownership, with clear legal frameworks ensuring secure transactions for both EU and non-EU buyers
Due Diligence
Engaging with legal professionals is essential to navigate property laws, conduct title searches, and ensure compliance with local regulations
Taxation
Understanding property taxes, including annual ENFIA charges and potential capital gains tax, is crucial for accurate financial planning
Steps to Purchasing Property in Greece
- 1
Research and Set Your Investment Goals
Market Insight
We begin by understanding your investment objectives—whether you are purchasing for personal use or seeking profitable investment opportunities. Our team will provide a detailed market analysis to identify the best locations based on your preferences and budget.
Budget Planning
We help you establish a clear budget, considering not only the property cost but also taxes, notary fees, legal expenses, and other costs associated with purchasing property in Greece.
- 2
Property Search and Selection
Tailored Property Search
Based on your criteria, our experienced real estate agents will present you with a curated selection of properties that fit your needs, whether you are interested in luxury villas, city apartments, or commercial properties.
Location Consultation
We will guide you through various locations in Greece, from bustling city centers like Athens to serene islands, ensuring you make a well-informed decision.
- 3
Due Diligence and Legal Review
Legal Expertise
Our team of legal professionals will conduct a thorough due diligence process. This includes verifying the property title and ownership at the local land registry and ensuring there are no outstanding legal issues or encumbrances.
Zoning and Permits
We’ll review local zoning laws and property-specific regulations to make sure the property meets all legal requirements for your intended use.
Tax Considerations
Our investment advisors will ensure you are fully informed about the tax implications of your purchase, including property transfer tax and ongoing property taxes (ENFIA).
- 4
Making an Offer and Agreement
Negotiation Support
Once you’ve selected a property, we assist in negotiating the best possible price on your behalf. Our expertise in the local market ensures we secure favorable terms.
Preliminary Agreement
We will help you draft and sign a preliminary agreement, known as a “mou,” that outlines the sale terms and includes a deposit to secure the property.
- 5
Obtaining a Greek Tax Identification Number (AFM)
Tax Identification Assistance
As part of the purchase process, we will assist you in obtaining a Greek Tax Identification Number (AFM) from the local tax office, which is required for all foreign buyers.
- 6
Opening a Greek Bank Account
Bank Account Setup
To facilitate the transaction and manage future expenses, we’ll guide you in opening a Greek bank account. This account will be used to transfer funds and pay any taxes or fees associated with the property.
- 7
Finalizing the Contract
Drafting the Sale Agreement
Our legal team will draft the final sale agreement, ensuring all terms are clear and transparent. We will review the contract with you and answer any questions you may have.
Notary and Official Signing
We will arrange for the final signing of the sale agreement at the notary’s office. The notary will officially validate the transaction and transfer the property to your name in the land registry.
- 8
Payment and Financial Settlement
Secure Payment Process
We ensure that the payment process is secure and efficient. You will make the payment for the property through a bank transfer to the seller’s account, with our team overseeing all financial arrangements.
Additional Costs
Our team will provide you with a breakdown of all additional costs, including property transfer tax (3.09%), notary and legal fees, and land registry charges, so you can plan accordingly.
- 9
Registering the Property
Land Registry Filing
After the sale, we will handle the filing of your property transfer documents with the local land registry, ensuring that the property is officially transferred to your name and that your ownership is fully protected.
- 10
Post-Purchase Support
Ongoing Property Management
Whether you’re living in Greece or abroad, Nexus Real Estates offers comprehensive property management services to ensure your investment is well-maintained.
Tax and Utility Assistance
We provide ongoing support with property taxes (ENFIA), utility setups, and other post-purchase requirements to help you settle in smoothly.