Buying Property in Greece: All the Rules Explained (2025 Guide)

Table of Contents

1. Introduction: Why Buy a Property in Greece?

2. The Greek Property Market in 2025

3. Legal and Administrative Requirements

   • 3.1 Role of the Notary (Symvoliographos)

   • 3.2 The Lawyer and Due Diligence

   • 3.3 The National Cadastre (Ktimatologio)

   • 3.4 Forest and Archaeological Restrictions

4. Taxation and Fiscal Obligations

   • 4.1 Property Transfer Tax vs. VAT on New Builds

   • 4.2 Annual Property Taxes (ENFIA)

   • 4.3 Capital Gains Tax

   • 4.4 Non-Resident Income Tax

5. Financial Aspects and Mortgage Options

   • 5.1 Mortgages for Foreign Buyers

   • 5.2 Required Documentation and Interest Rates

   • 5.3 Buyer Costs: Breakdown of Additional Fees

6. Conditions for Non-Residents and EU vs. Non-EU Citizens

7. The Property Purchase Process Step by Step

   • 7.1 Property Reservation and Preliminary Agreement

   • 7.2 Due Diligence and Legal Checks

   • 7.3 Final Contract and Registration

8. Risks and Pitfalls When Buying Property in Greece

   • 8.1 Illegal Construction

   • 8.2 Zoning and Coastal Protection Laws

   • 8.3 Incomplete Land Registry Data

9. Post-Purchase Obligations: Tax Registration, Utilities, and More

10. Practical Tips and a Buyer’s Checklist

11. Expert Help: Why You Need a Local Lawyer and Real Estate Agent

12. Conclusion: Owning Property in Greece with Confidence

1. Introduction: Why Buy a Property in Greece?

Greece remains one of the most attractive real estate destinations in Europe, offering natural beauty, affordable properties, a relaxed Mediterranean lifestyle, and a welcoming culture. Whether you're seeking a holiday retreat on an island or planning a permanent move, the Greek property market provides a range of options. However, understanding the legal framework is essential to avoid common pitfalls.

2. The Greek Property Market in 2025

In 2025, Greece continues to experience a moderate rise in property prices, particularly in areas such as Athens, Thessaloniki, Crete, and the Cyclades. The market benefits from increased international interest, partly due to the Golden Visa scheme and growing tourism. Regional variations in zoning laws and investment incentives are important to consider.

3. Legal and Administrative Requirements

3.1 Role of the Notary (Symvoliographos)

A notary is a required official in all Greek property transactions. They draft and execute the final sale deed, verify ownership and legal documents, and ensure tax obligations are met before registering the sale.

3.2 The Lawyer and Due Diligence

Foreign buyers must hire a lawyer, especially to:

• Review ownership and titles

• Confirm building legality

• Check debts or liens

• Verify zoning and planning permissions

3.3 The National Cadastre (Ktimatologio)

Greece is gradually implementing a national land registry. Check whether the property is fully registered in the Cadastre, as missing or inaccurate data can delay the sale.

3.4 Forest and Archaeological Restrictions

Properties in rural or island regions may fall under forest protection or archaeological zones, which can restrict construction or renovations. Legal verification is essential.

4. Taxation and Fiscal Obligations

4.1 Property Transfer Tax vs. VAT on New Builds

• Resale properties: 3% transfer tax

• New builds (with permit issued post-2006): 24% VAT

4.2 Annual Property Taxes (ENFIA)

All property owners must pay ENFIA, which is calculated based on location, size, use, and zone values. Typically ranges from €1–€9/m² annually.

4.3 Capital Gains Tax

A 15% capital gains tax may apply upon resale, but has been suspended in recent years. Check current legislation.

4.4 Non-Resident Income Tax

If the property is rented, non-residents pay:

• 15% on income up to €12,000

• 35% on €12,001–€35,000

• 45% above €35,000

5. Financial Aspects and Mortgage Options

5.1 Mortgages for Foreign Buyers

Greek banks offer limited mortgage options to non-residents. Down payments typically start at 30%–40%. Eurozone citizens may receive more favorable terms.

5.2 Required Documentation and Interest Rates

Documents include:

• Passport and Greek tax number (AFM)

• Proof of income and employment

• Credit history or bank statements Interest rates in 2025 range between 3.5% and 5%.

5.3 Buyer Costs: Breakdown of Additional Fees

• Notary fees: 1%–2%

• Lawyer fees: ~1% of purchase price

• Registration: 0.5%

• Property taxes and possible VAT Total purchase costs typically amount to 8%–11% of the sale price.

6. Conditions for Non-Residents and EU vs. Non-EU Citizens

EU citizens face minimal restrictions. Non-EU buyers may need approval from the Ministry of Defense for properties in border or island regions. The Greek Golden Visa program grants residency for investments over €250,000.

7. The Property Purchase Process Step by Step

7.1 Property Reservation and Preliminary Agreement

This includes a reservation fee (e.g. €2,000–€10,000) and outlines basic conditions. It is not legally binding but secures the property.

7.2 Due Diligence and Legal Checks

Your lawyer checks all documents, cadastral records, and debts. Once cleared, the buyer pays the remaining deposit (usually 10%).

7.3 Final Contract and Registration

The notary executes the deed, taxes are paid, and the sale is registered with the Cadastre. The buyer becomes the legal owner.

8. Risks and Pitfalls When Buying Property in Greece

8.1 Illegal Construction

A common issue, especially on islands. Ensure building permits are legal and up to date.

8.2 Zoning and Coastal Protection Laws

Greece enforces strict laws on coastal areas and rural land. Unauthorized building may lead to fines or demolition.

8.3 Incomplete Land Registry Data

In newly cadastered regions, errors or omissions can lead to legal issues. Confirm land boundaries and registration.

9. Post-Purchase Obligations: Tax Registration, Utilities, and More

• Obtain a Greek tax number (AFM)

• Register property ownership

• Open Greek bank account (optional)

• File annual tax returns

• Transfer utilities (water, electricity, etc.)

10. Practical Tips and a Buyer’s Checklist

• Work with bilingual professionals

• Verify all permits and licenses

• Avoid cash transactions

• Get everything in writing

• Budget 10%–12% above the sale price for taxes and fees

11. Expert Help: Why You Need a Local Lawyer and Real Estate Agent

An experienced local lawyer navigates complex Greek regulations, especially regarding building legality and registration. Agents help negotiate, verify pricing, and facilitate paperwork.

12. Conclusion: Owning Property in Greece with Confidence

Greece offers stunning real estate opportunities, but legal clarity is key. With due diligence, professional guidance, and awareness of local rules, buying a home in Greece can be a smooth and rewarding process.