Buying Property in Greece as a Foreigner

In short

Foreigners can buy property in Greece, although certain border areas require special permission. Buying does not automatically confer residence. Standard property-transfer tax is effectively 3.09%; qualifying property investments for the Golden Visa generally start at €400,000 or €800,000, with specified €250,000 routes. Legal title, planning compliance and the applicable immigration category must be checked separately.

Can foreigners buy property in Greece, and who is eligible?

Foreign individuals can generally buy Greek property regardless of nationality, but ownership rights, permission to buy in restricted areas and eligibility for residence are separate questions.

An EU citizen buying a holiday home and a non-EU investor seeking a Golden Visa may purchase similar properties but face different immigration requirements. Neither should assume that a seller’s description establishes legal suitability.

Border-area restrictions are an important exception. Greek legislation restricts certain transactions involving purchasers from outside the EU and European Free Trade Association in designated border areas. Permission may be available, but the location and purchaser’s nationality must be checked before signing a binding commitment. Not every island is restricted, and not every restriction follows an obvious geographical boundary.

The statutory starting point is Law 1892/1990, published through Greece’s National Printing Office, as subsequently amended. A Greek lawyer should establish whether the particular cadastral parcel falls within the legislation.

For residence planning, the principal distinctions are:

Source: the Greek Ministry of Migration and Asylum’s legal framework, including the Migration Code and subsequent amendments.

For the cost comparisons below, “family of four” means an investor, spouse and two children under 18. A family containing adult children can have different permit charges and eligibility issues.

How much does property in Greece cost, including taxes and fees?

The acquisition cost is the agreed price plus transaction tax, notarial and registration charges, professional fees and any financing expenses; there is no reliable universal percentage covering every purchase.

The clearest national figure is property-transfer tax of 3% of the taxable value, plus a municipal levy equal to 3% of that tax. Together, these produce an effective 3.09%, where the standard transfer-tax regime applies.

Thus, if the taxable value is €400,000, the combined amount is €12,360; at €800,000, it is €24,720. These are calculations from the statutory rates, not assurances that the agreed price will be the tax authority’s accepted base. Greece’s assessed-value system can affect the calculation.

The Independent Authority for Public Revenue, AADE, provides the official guidance on property-transfer tax, taxable values and exemptions.

Purchase and residence cost schedule

The table separates statutory charges from transaction-specific costs. Where no single dependable national figure applies, a written calculation is necessary: substituting an advisory firm’s percentage would create misleading precision.

Official verification points include AADE, the Hellenic Cadastre, the government’s e-Paravolo service and the Ministry of Foreign Affairs.

Residence-permit charges should be confirmed at filing. The applicable payment code, current legislation, applicant age and application type matter. A family total cannot responsibly be presented as one fixed sum without checking those inputs.

How much must you invest in Greek property for a Golden Visa?

The principal property-investment thresholds are €800,000 or €400,000 depending on location, while specified conversion and listed-building categories retain a €250,000 threshold.

These are residence-eligibility thresholds, not minimum prices for foreigners purchasing Greek property. A foreign buyer can generally buy a less expensive home without receiving investor residence rights.

The framework introduced by Law 5100/2024, amending the Migration Code, distinguishes the following routes:

Source: Ministry of Migration and Asylum legislation and the official publication of Law 5100/2024 through the National Printing Office.

The €250,000 categories are not a general exemption for inexpensive apartments. An estate listing stating “Golden Visa eligible” does not establish that the previous use, conversion procedure, listed status or completion evidence satisfies the law.

Nor should the 120 m² condition be equated casually with advertised floor area. An engineer and lawyer should establish which legally recorded areas count.

Budget acquisition expenses above the qualifying investment. Transfer tax, professional fees and furnishings should not be assumed to count towards the required property consideration.

Qualifying Golden Visa properties are also subject to use restrictions, including a prohibition on short-term letting and subletting. Additional restrictions apply to converted properties used as a business seat or branch. An investment case based on unrestricted holiday letting therefore requires reconsideration before reservation.

Finally, do not assume that acquiring a fractional share or buying through a company reproduces the eligibility of a straightforward personal acquisition. Co-ownership and corporate ownership have specific rules.

How do you buy property in Greece safely?

A safe purchase requires independent title, technical and tax checks before the buyer commits irrevocably, followed by a notarial deed and proper registration.

A practical sequence is:

1. Define the objective. Distinguish personal use, conventional letting and investor residence. A property can be suitable for one and unsuitable for another.
2. Appoint an independent Greek lawyer. The lawyer’s instructions should cover ownership, encumbrances, access rights, litigation, border restrictions and any residence objective.
3. Obtain a Greek tax number, or AFM. Confirm registration and representation requirements with AADE. A Greek bank account is useful in many transactions but should not be described as universally mandatory.
4. Commission technical due diligence. An independent engineer should compare the building, permits, plans and recorded areas.
5. Review the reservation agreement. Specify what happens if title is defective, planning documents are incomplete or the property fails the intended immigration test.
6. Agree the tax declaration and payment arrangements. Establish the taxable value, applicable tax regime and evidence of payment before completion.
7. Execute the notarial deed and register the acquisition. Registration is essential; signing alone does not complete every legal step needed to secure ownership.
8. Update tax records and make any separate residence application.

The technical review is particularly important for extensions, enclosed balconies, basement accommodation and buildings divided into apartments. A lawful-looking home is not necessarily documented as the seller describes it.

For an off-plan purchase, investigate the developer’s title, permit, construction obligations, delivery terms and remedies for default. A contractual promise of future immigration eligibility is not equivalent to an eligible completed investment.

Use traceable payment arrangements approved by the notary and lawyer. Greek rules require banking means for the consideration in covered real-estate transfers; cash arrangements can create serious validity and tax problems. AADE provides official guidance on these requirements.

How long does buying take, and must you live in Greece afterwards?

There is no universal government-guaranteed completion or residence-processing period, and owning Greek property does not itself require—or authorise—year-round residence.

Purchase timing depends on title readiness, cadastral records, tax documentation, financing and technical defects. Restricted-area permission, inheritance issues or a qualifying conversion can add separate stages. Treat promises of completion or a residence card “within two months” as transaction-specific claims, not statutory guarantees.

For the Golden Visa, distinguish four milestones: completing the qualifying investment, lodging an admissible application, providing biometrics and receiving the decision and card. A filing receipt and a residence card do not necessarily carry identical travel consequences.

The investor permit is generally valid for five years and is renewable while the statutory conditions remain satisfied. There is no minimum annual physical-presence requirement for maintaining this investor residence category. Renewal nevertheless requires continuing eligibility; selling the qualifying investment or breaching its conditions can affect residence rights.

Without a residence permit or another long-stay entitlement, many non-EU visitors remain subject to the Schengen limit of 90 days in any 180-day period. This limit operates across the Schengen area, not separately for Greece. See the European Commission’s official short-stay guidance.

Finally, immigration residence and tax residence are different. AADE’s rules include a 183-day presence test, alongside other connecting factors and applicable exceptions. A zero-minimum-stay investor permit is not a tax exemption, and property ownership is not citizenship. Plan the purchase, residence application and tax position as three connected but distinct decisions.

Step-by-step timeline

The sequence below is a planning framework, not a guaranteed completion schedule. Greece does not publish a single standard duration covering the search, legal checks, conveyancing and residence application. These are separate processes; completing the purchase does not mean that a residence permit has been approved.

The most consequential delays usually arise from incomplete seller documentation, discrepancies between the building and its approved plans, unresolved ownership issues, or overseas documents requiring translation and authentication. Banking checks can also interrupt payment arrangements. Ask for a timetable tied to documentary milestones rather than an unconditional completion date.

Tax and stay requirements

Property ownership, immigration residence and tax residence are different legal concepts. A Greek home does not automatically confer immigration permission, and a Golden Visa does not, by itself, establish or prevent Greek tax residence.

Under the Greek Independent Authority for Public Revenue’s guidance, an individual can be Greek tax resident because Greece is their permanent or principal residence, habitual abode or centre of vital interests. Presence exceeding 183 days cumulatively during any twelve-month period can also establish residence, subject to statutory exceptions. The test is therefore not simply whether someone spends fewer than six months in Greece during a calendar year.

Where another country also regards the person as resident, the applicable double-taxation agreement may resolve the conflict. Family location, business activity and personal and economic connections can matter. A household relocating children and its principal home should obtain advice before assuming that a foreign tax-residence certificate settles the question.

Greek tax residents are generally subject to Greek tax on worldwide income; non-residents remain liable on relevant Greek-source income. Rental income and property-related obligations can therefore arise even when the owner never becomes tax resident. Ownership also brings property declarations and the annual ENFIA property-tax assessment. The actual liability depends on the property and the owner’s circumstances, rather than a universal percentage of purchase price.

For the property-investor residence permit, there is no minimum annual physical-presence requirement for renewal. The permit is renewable for five-year periods while the qualifying investment and other applicable conditions remain satisfied. Absence from Greece does not itself prevent renewal, but maintaining qualifying ownership, required insurance and an accurate application file remains important.

This flexibility should not be confused with eligibility for citizenship or other residence categories, which have separate conditions. Nor does a Greek permit authorise unrestricted residence throughout Europe: travel elsewhere in the Schengen area is generally subject to the 90 days in any 180-day period short-stay limit.

How it compares

For readers seeking residence through investment rather than simply a Mediterranean home, Cyprus’s investor immigration permit and Portugal’s investment residence route are useful alternatives. Cyprus retains a property pathway; Portugal no longer treats a direct property purchase as a qualifying investment.

The figures below are qualifying investment thresholds, not all-in budgets. Taxes, application charges, professional costs and ongoing expenses require separate confirmation.

Greece suits buyers who genuinely want Greek property and value limited presence obligations. Cyprus merits consideration where a qualifying new home and a permanent immigration status fit the household’s plans, including its income position. Portugal is more relevant to investors comfortable with regulated fund exposure who do not need their residence investment to provide accommodation. None is a like-for-like substitute for an unrestricted right to work or settle across the EU.

Common mistakes and what they cost

Treating an estate agent’s description as proof of eligibility. “Golden Visa suitable” is not a legal determination. The consequence can be ownership of a perfectly saleable property that does not support the intended application. Require independent confirmation of the specific qualifying category before committing funds.

Paying a deposit before agreeing what happens if checks fail. A reservation payment can create difficult recovery arguments if its terms are unclear. Have the lawyer review the refund conditions, seller obligations and treatment of adverse title, planning or eligibility findings.

Confusing renovation potential with lawful conversion. A building’s appearance does not establish its authorised use. For special-category residence investments, the relevant conversion or restoration conditions are substantive. The financial exposure includes remedial works, professional costs, delayed occupation and potentially a failed residence strategy.

Budgeting only for acquisition. Insurance, communal charges, maintenance, property tax and any management arrangements continue after completion. Older or coastal buildings may also require substantial work. Obtain property-specific quotations rather than applying an unsupported universal annual-cost allowance.

Assuming holiday letting will fund the investment. Properties supporting the investor-permit route are subject to specific restrictions, including on short-term letting. A business plan based on tourist-platform income can therefore be fundamentally unsuitable. Check the lawful letting model before calculating returns.

Selling without reviewing the residence consequences. The permit depends on maintaining a qualifying investment. A sale, ownership restructuring or transfer within the family may affect renewal or existing status. Immigration advice belongs before the transaction, not after the deed has been signed.

Market trends and investment climate

The Greek real estate market has seen significant price growth since the debt crisis of the previous decade. Data from the Bank of Greece indicates that residential property prices have experienced consistent year-on-year growth, often exceeding 10 per cent in major urban centres like Athens and Thessaloniki. For many international investors, the appeal lies in combining relatively low price-per-square-metre entry points, when compared to cities like London or Paris, with strong rental demand driven by tourism and infrastructure development.

Buying property through a company

It is possible to buy Greek property through a corporate structure, such as a Greek Private Company (IKE) or a foreign legal entity. Some high-net-worth investors choose this route for potential advantages in inheritance planning or the ability to deduct maintenance expenses against rental income. However, corporate ownership typically involves higher annual accounting fees and a different tax structure compared to personal ownership. It is advisable to consult a specialist tax advisor in Greece before deciding on the ownership structure.

Ongoing property taxes and rental income tax

Owning property in Greece brings an annual property tax known as ENFIA. The amount is calculated based on factors including the property's size, location, age and assessed 'Objective Value'. As an example, a standard two-bedroom apartment in a mid-range Athens suburb might have an annual ENFIA liability of €300 to €600, while luxury villas on the islands would command significantly higher rates.

If you rent out your property, the income is subject to Greek tax at a progressive rate, which applies even if you are not a Greek tax resident. The rates are:

• 0 to €12,000: 15%
• €12,001 to €35,000: 35%
• Over €35,000: 45%

Frequently asked questions

Can I buy a house in Greece without getting a Golden Visa?

Yes, buying a Greek house and applying for a Golden Visa are separate decisions. A purchase does not have to meet residence-investment criteria unless it is intended to support that application. However, ownership alone does not extend your permitted stay. Your ability to occupy the home depends on your nationality and any visa or residence permission you hold.

Can I buy property in Greece remotely?

Yes, a properly prepared power of attorney can allow a representative to handle much of the purchase. The Greek notary and your independent lawyer should confirm its scope, authentication and translation requirements before it is signed abroad. Remote conveyancing does not necessarily remove personal attendance requirements connected with banking or a subsequent residence application.

Does a Greek Golden Visa make me a Greek tax resident?

No, a Greek Golden Visa does not automatically make you Greek tax resident. Tax residence follows separate statutory tests involving presence, residence and personal or economic connections. Equally, holding the permit while spending limited time in Greece does not guarantee non-resident treatment if your centre of vital interests has moved there. Any applicable tax treaty also needs consideration.

How many days do I have to spend in Greece to keep a Golden Visa?

There is no minimum annual stay requirement for renewing the Greek property-investor residence permit. Renewal instead depends on retaining the qualifying investment and meeting the other applicable conditions. Nevertheless, administrative steps still require attention, and extended stays can have tax consequences. Keep immigration compliance and tax-residence planning as separate workstreams rather than treating one as evidence of the other.

Can I rent out a property bought for a Greek Golden Visa?

Long-term letting may be possible, but short-term letting is prohibited for properties used for the investor-permit route under the applicable rules. Certain qualifying conversion properties also face restrictions on use as a company’s registered office or branch. Have the intended lease and property category checked before advertising: an ordinary ownership right does not override conditions attached to residence eligibility.

Can I work in Greece with a property Golden Visa?

The property-investor residence permit does not grant access to employment in Greece. Do not assume that permission to live in the country also authorises salaried work or every form of professional activity. Shareholding, management responsibilities, self-employment and remote work raise distinct questions. Confirm the appropriate permission before accepting a role or moving business operations to Greece.

Can my family get residence through my Greek property investment?

Eligible family members can apply for residence linked to the principal investor, subject to the programme’s relationship, age and documentation rules. Not every financially dependent relative automatically qualifies. Establish eligibility for each person before choosing the ownership structure, and check what happens when children reach the relevant age limits. Marriage, partnership and birth records may require authentication and official translation.

Can I get a mortgage for a Golden Visa property in Greece?

A mortgage offer does not, by itself, establish that a purchase satisfies Golden Visa investment requirements. Lending eligibility and immigration eligibility are separate assessments, and the payment evidence must meet the relevant residence rules. Before relying on borrowing, obtain confirmation of the proposed funding structure from the competent authority and independent legal advice; a bank’s approval is not immigration approval.

What happens to my Greek Golden Visa if I sell the property?

Selling the qualifying property can remove the basis for retaining or renewing the investor permit. Do not assume that an existing card remains unaffected until its printed expiry date. If you intend to replace the asset with another qualifying investment, obtain advice on the sequence and required evidence before selling. The buyer’s eligibility is a separate assessment.

Can I live in another EU country with a Greek Golden Visa?

No, a Greek Golden Visa does not give a general right to settle or work in another EU country. It permits residence in Greece and supports short visits elsewhere in Schengen under the applicable travel rules. Moving your principal home to another member state generally requires permission under that country’s immigration system. EU membership and Schengen travel rights are not interchangeable.

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What is the 'Objective Value' of a property?

The Greek tax authorities assign an 'Objective Value' to every property based on a formula using its specific characteristics and location. This value is used for tax assessment purposes. The standard property-transfer tax of 3.09% is calculated on either the Objective Value or the contractual purchase price, whichever is higher.

Can I get a mortgage in Greece as a foreigner?

While possible, obtaining a mortgage from a Greek bank as a non-resident can be challenging. Banks often have strict lending criteria for foreign borrowers, which may include requiring a substantial down payment, sometimes as high as 50 per cent, and proof of significant and stable income. Many foreign buyers find it easier to secure financing in their home country or to purchase with cash.

How long does the buying process take?

A typical, straightforward property transaction in Greece generally takes between six and twelve weeks from the point of having an offer accepted to the final signing of the deed. However, this timeline can be extended if the property is located in a designated border region requiring special permission, or if the due diligence process reveals issues with the property's title, planning permissions or technical certificates.

Sources

• Ministry of Migration and Asylum, Greece — Golden Visa
• Independent Authority for Public Revenue, Greece — Tax residence
• Independent Authority for Public Revenue, Greece — Real estate taxation
• Hellenic Cadastre — Official portal
• Migration Department, Cyprus — Official information and immigration services
• Agency for Integration, Migration and Asylum, Portugal — Residence authorisation for investment activity, Article 90-A
• European Commission — Visa policy