Greece is one of the more accessible property markets in the European Union for foreign buyers. EU and EEA nationals face essentially no restrictions, while non-EU buyers can purchase freely in most areas subject to straightforward procedural requirements. Here is everything you need to know before proceeding.
Can Foreigners Buy Property in Greece?
Yes. EU and EEA citizens can purchase property in Greece on exactly the same terms as Greek nationals. Non-EU/EEA nationals can also purchase freely in most regions with no special permit requirement. The only exception is border regions designated as "restricted areas" — primarily islands and land near Greece's land borders with Turkey, Bulgaria, North Macedonia, and Albania. In these areas, non-EU buyers must obtain a permit from the local Committee for the Protection of Public Interest. In practice, this permit is routinely granted and causes minimal delay for legitimate purchases.
Step 1: Appoint a Qualified Greek Lawyer
Before taking any other step, appoint a licensed Greek lawyer (dikigoros) who specialises in property law. This is not optional — Greek law requires a lawyer to be present at the notarial signing of the purchase deed, and attempting to navigate the title search, planning, and tax registration processes without legal assistance significantly increases your risk.
Your lawyer should be independent of the seller, developer, and estate agent. Ask for evidence of registration with the relevant Bar Association (Athens, Thessaloniki, Piraeus, or the relevant regional bar).
Step 2: Obtain a Greek Tax Number (AFM)
All property buyers in Greece must hold a Greek Tax Registration Number (Arithmos Forologikou Mitroou — AFM) before completing a purchase. The AFM is issued by the local Tax Authority (Eforia) and required for all property-related tax registrations, banking, and Golden Visa applications.
EU nationals can apply in person at any Tax Authority office. Non-EU nationals typically apply through a Greek tax lawyer holding power of attorney. Remote applications are possible and commonly used by international buyers. Processing typically takes 1–3 business days.
Step 3: Open a Greek Bank Account (or Use an Escrow Virtual IBAN)
Greek law requires that the purchase price be paid from a documented Greek banking source or via a verifiable international transfer. In practice, many foreign buyers:
- Open an account with a Greek bank (Alpha Bank, Piraeus Bank, National Bank, Eurobank), which requires an AFM and identity documents
- Use a regulated escrow platform's virtual IBAN, which provides a compliant, documented payment route without requiring a full Greek bank account
REXE provides dedicated virtual IBANs through its EU-licensed banking partners, accepted by Greek notaries and tax authorities as evidence of compliant fund routing.
Step 4: Property Due Diligence
Your lawyer must perform thorough due diligence before any funds are transferred:
- Title search at the Land Registry (Ktimatologio). Confirms the registered owner and reveals any mortgages, liens, easements, or caveats.
- Planning and building permit check. Confirms the property was built with valid permits and has received final approvals. Any unauthorised additions must be disclosed.
- Tax clearance certificate. Confirms the seller has no outstanding property-related tax obligations that could transfer to the buyer.
- ENFIA certificate. Confirms current property tax (ENFIA) status and outstanding amounts.
- Energy performance certificate (EPC). Required for all residential property sales since 2011.
Step 5: Preliminary Agreement and Deposit
Once due diligence is satisfactory, a preliminary purchase agreement (symvolaio agorapolisias) is typically signed, with a deposit of 10% of the agreed price. This preliminary agreement is legally binding on both parties.
The deposit should be paid into a regulated escrow account — not directly to the seller or developer — to ensure it is protected if the transaction does not complete for reasons attributable to the seller. REXE's escrow platform structures the deposit conditions digitally, with release linked to completion of the final deed.
Step 6: The Notarial Deed
All property transfers in Greece must be completed by a formal deed executed before a Greek notary (symvolaiografos). Both parties must be present (or represented by a power of attorney holder). The deed is signed by the notary, the buyer, the seller, and both lawyers. A copy is immediately submitted to the Land Registry for registration.
Step 7: Land Registry Registration
After the notarial signing, your lawyer registers the transfer at the local Land Registry (Ktimatologio). This step legally completes the ownership transfer. Digital title deeds are issued in Greece, and the registration is typically processed within days of submission in most urban areas.
Total Transaction Costs
Budget approximately 8–10% of the purchase price in addition to the property cost, comprising:
- Property Transfer Tax (3.09%) or VAT (24% for new builds)
- Notary fees (1–2%)
- Lawyer fees (1–1.5%)
- Land Registry fees (0.5–0.75%)
- Real estate agent commission (if applicable, typically 2–3% payable by buyer)
Ongoing Property Ownership Requirements
After purchase, foreign owners of Greek property are subject to:
- ENFIA (Annual Property Tax): Charged based on property value and location
- Income tax on rental income: 15–45% depending on annual rental income, with deductions available
- Capital gains tax: Currently suspended in Greece (as of 2025) pending re-enactment of previous legislation
- Annual tax declaration: Even if no income is generated in Greece, owners with Greek property typically file an annual E1 tax return
Remote Purchase: Can It Be Done?
Yes. Foreign buyers increasingly complete Greek property purchases without visiting Greece, using power of attorney arrangements and digital platforms. REXE supports fully remote transactions: identity verification, KYC, fund transfers, and milestone monitoring all occur online. Your appointed lawyer attends the notarial signing on your behalf under a properly drafted power of attorney.