Can foreigners buy property in Greece?

Yes. EU citizens buy on the same terms as Greek nationals with no restrictions. Non-EU citizens can also buy freely throughout most of the country, but properties in designated border areas, including parts of the northern frontier and certain islands, require advance permission from the Ministry of Defence. Permission is routinely granted but adds two to four months to the timeline.

What is the current Golden Visa threshold in Greece?

As of 2024-2026, Greece raised its Golden Visa thresholds significantly. The minimum investment is €800,000 in Athens, Thessaloniki, Mykonos, Santorini, and other high-pressure zones, and €400,000 in the rest of the country. New rules also impose a 120 sqm minimum size on the qualifying property. The historical €250,000 figure is no longer available. Always confirm the current rules with a Greek immigration lawyer before committing.

What taxes do I pay when buying a Greek property?

Resale properties carry a 3.09% transfer tax paid by the buyer (3% plus a small municipal surcharge). Notary fees run 1-1.5%, lawyer fees 1-2% (no longer mandatory in most cases but strongly recommended), and registration fees about 0.5%. New-build first sales technically attract 24% VAT, though the VAT obligation has been suspended on most new sales for several years, confirm the current status before buying off-plan.

Can I get a mortgage in Greece as a non-resident?

Yes, though the market is selective. Greek banks lend to non-residents up to 50-60% loan-to-value, with EUR-denominated variable rates indexed to ECB benchmarks. Documentation is heavy and decisions are slow, expect six to twelve weeks for approval. EU buyers find it easier than non-EU. Many foreign buyers, especially Golden Visa applicants, pay cash because the program requires the investment to be in real estate, not financed.

Do I need to be physically in Greece to buy?

No. You can complete the entire process via a power of attorney granted to a Greek lawyer. This is in fact the standard approach for non-resident buyers, especially those buying for the Golden Visa. The lawyer signs the deed at the notary on your behalf and registers the property. You only need to visit Greece to obtain a Greek tax number (AFM) and open a Greek bank account, both of which can sometimes be done remotely with the right preparation.

How long does the buying process take in Greece?

A typical resale transaction takes eight to twelve weeks from offer to registered title. The longest steps are the tax-clearance certificates required from the seller, the AFM application for the buyer, and the notarial review. Border-area properties for non-EU buyers add two to four months for Ministry of Defence clearance. Off-plan and new-build cases vary widely with construction milestones.

What are the biggest legal risks for foreign buyers?

Common pitfalls include unresolved inheritance claims on family-held properties, undeclared building modifications (illegal balconies and additions are widespread), and forestry-protected land where construction is restricted. The new National Cadastre has improved transparency, but island and rural properties still need careful title research. Always use an independent Greek lawyer, not the seller's notary, and budget for a topographical survey on land or houses.

Are Greek islands a good investment compared to mainland?

It depends on the use case. Islands like Mykonos, Santorini, and Paros offer strong short-term rental yields but high entry prices, heavy seasonality, and complex permitting. Crete combines island lifestyle with year-round demand and more reasonable prices. Mainland Athens generally offers the best long-term capital appreciation and the deepest resale market. For pure rental yield, a centrally located Athens apartment often beats an island villa once running costs are deducted.

Buying property in Greece as a foreigner (2026)

Practical 2026 guide to buying property in Greece as a foreigner, Golden Visa thresholds, taxes, mortgages, top regions, and how to list for free.

Greece has been one of Europe's most active property markets since 2020. A combination of post-crisis pricing, a high-profile Golden Visa program, and surging tourism revenue has pushed Athens prices up by double digits annually for several years. As of 2026, the dynamics are shifting, Golden Visa rules have tightened, mortgage rates have eased, and the focus is moving from speculative buying to lifestyle and yield. This guide covers what foreign buyers need to know.

Market overview and 2026 outlook

Athens has been the engine of Greek property growth. Central districts like Kolonaki, Pagrati, Koukaki, and the southern suburbs along the Athenian Riviera have seen 8-12% annual price increases in 2023-2025, with some prime micro-markets pushing higher. As of 2026, central Athens trades at €2,000-3,500 per square meter, with prime addresses (Kolonaki, parts of Glyfada) reaching €4,500-6,000.

Thessaloniki has followed at lower absolute price levels (€1,500-2,500 per sqm centrally). Islands diverge sharply: Mykonos and Santorini regularly trade above €5,000 per sqm; Crete and Paros sit in the €2,500-4,000 range; smaller and less-touristy islands offer €1,500-2,500.

The 2026 outlook is for continued but slower growth. The 2024 Golden Visa threshold increases removed the speculative tail at the bottom of the market, while real lifestyle and yield demand from EU and US buyers remains intact. Tourist short-term rental regulation is tightening in saturated areas, relevant for buyers basing their numbers on Airbnb returns.

Browse current listings on immio Greece for live pricing.

Who can buy in Greece

The legal eligibility rules are mostly straightforward but contain some Greek specifics:

EU citizens: full equality with Greek nationals throughout the country, including border areas.
Non-EU citizens: can buy throughout most of Greece without restriction. The exception is "border areas" defined by Greek law, parts of the northern mainland frontier, Crete, the Dodecanese, the eastern Aegean islands, and a few others. Property in these zones requires advance approval from the Ministry of Defence. Approval is routine for residential purchases by EU/Western buyers but adds time and a small fee.
Companies: foreign-owned Greek companies (typically an IKE, the Greek private capital company) can hold property of any kind, including in border zones with the right shareholder structure. Some Golden Visa applicants prefer this route.

For broader EU context, see our foreigner buying process EU guide.

Step-by-step buying process

A typical Greek transaction unfolds as follows:

Get a Greek tax number (AFM). Mandatory for any property buyer. Apply at a Greek tax office in person or via your lawyer with a power of attorney.
Open a Greek bank account. Required to wire the purchase price and receive any future rental income. Some banks accept remote opening; most still require a physical visit.
Engage a lawyer. Lawyer involvement is technically optional since 2014 reforms but strongly recommended, especially for foreigners. Fees run 1-2% of the purchase price.
Sign a preliminary agreement (private or notarized), with a deposit of typically 10%.
Title search at the local Land Registry or Cadastre office. The lawyer confirms ownership chain, encumbrances, and proper inheritance documentation.
Engineer's certificate. Greek law requires a certified engineer's declaration that the property has no unresolved illegal additions. This is critical and routinely catches issues.
Tax clearance. The seller obtains tax-clearance certificates showing no debts to the state.
Final deed at the notary. The notary drafts the deed, both parties (or POA holders) sign, and funds transfer.
Registration. The deed is registered at the Land Registry or Cadastre. The buyer is the legal owner from the date of signing; registration finalizes the public record.

Costs and taxes

Greek closing costs are at the higher end of the EU average. The table shows realistic 2026 ranges. Confirm specifics with your lawyer, especially around VAT on new builds (the suspension policy is reviewed periodically).

Item	Typical range	Who pays	Notes
Transfer tax	3.09% of price	Buyer	Resale properties; combined state + municipal
VAT on new builds	24%	Buyer	First sale only; widely suspended in recent years
Notary fee	1-1.5% of price	Buyer	National tariff with sliding scale
Lawyer fee	1-2% of price	Buyer	Optional but standard for foreigners
Registration fee	~0.5% of price	Buyer	Land Registry or Cadastre
Agent commission	2% per side	Buyer and seller	Each pays their agent
Annual ENFIA tax	0.05-1% of taxable value	Owner	Single national property tax

For cross-country comparisons, see our property taxes and fees by country guide.

Financing and mortgages for non-residents

Greek banks have steadily reopened to non-resident lending since 2022. Current 2026 conditions:

Loan-to-value: 50-60% for non-residents, vs. 70-80% for residents.
Term: up to 30 years, age-capped at 70-75 at maturity.
Currency: EUR-denominated for EU buyers; non-EU buyers may face restrictions or higher pricing.
Rates: variable, indexed to ECB or Euribor benchmarks, generally 0.5-1.5 points above resident pricing.
Documentation: AFM, Greek bank account, translated tax returns and income proofs, sometimes a Greek-resident guarantor.

Note that Golden Visa investments must be in real estate, not financed via Greek banks, the qualifying capital must come from outside Greece. Many lifestyle buyers without a visa angle do finance, however. For a wider European view, read our mortgages for non-residents EU guide.

Best cities and regions to buy in

Athens: The deepest and most liquid market in Greece. Central districts (Kolonaki, Pagrati, Koukaki, Mets, Plaka) offer €3,000-5,000 per sqm with strong tourist short-term rental demand. The Athenian Riviera (Glyfada, Voula, Vouliagmeni) is the prime luxury market at €5,000-8,000 per sqm. Northern suburbs (Kifisia, Marousi) suit family buyers at €2,500-4,000 per sqm. See live Athens listings on immio.

Thessaloniki: Greece's second city, with a real urban economy and university population. Central prices €1,500-2,500 per sqm; prime seafront and Kalamaria €2,500-3,500. Lower entry, decent yields, less tourist intensity than Athens.

Crete: The largest Greek island, with year-round demand and a more diversified economy than the smaller islands. Chania and Heraklion centers run €2,000-3,500 per sqm; coastal villas vary widely from €2,500 to €6,000 depending on location and view. Strong combination of lifestyle and rental viability.

Cycladic islands (Paros, Naxos, Milos): The middle tier of island buying, less expensive than Mykonos and Santorini, with more accessible village life. Expect €2,500-4,500 per sqm for renovated traditional homes near the sea. Strong summer-rental yields offset by short season.

Mykonos and Santorini: Premium short-term rental and lifestyle markets, €5,000-10,000+ per sqm. Subject to Golden Visa €800,000 thresholds and tighter short-term rental rules. Buy here for use and prestige rather than yield math.

Pitfalls and legal red flags

Greek property has specific gotchas that surprise foreign buyers:

Illegal additions: a striking share of older Greek buildings have unpermitted balconies, room conversions, or floor additions. Greek law has run several legalization amnesties; the engineer's certificate is the buyer's protection.
Forestry maps: rural land previously thought of as buildable can be reclassified as forest, blocking construction. Always check the latest forest maps before buying land.
Inheritance gaps: family properties held informally by multiple heirs sometimes get sold without all heirs signing. Title searches must confirm full ownership.
Short-term rental zoning: cities like Athens and tourist islands are tightening Airbnb rules. Don't underwrite a purchase on STR yields without checking current local restrictions.
AFM and bank-account delays: bureaucratic steps that look simple can drag on. Start them before you find your property.

Residency and Golden Visa angle

Greece's Golden Visa program remains one of Europe's most active, despite the 2024 threshold increases. As of 2026, the minimum investment is:

€800,000 in Athens, Thessaloniki, Mykonos, Santorini, and other officially designated high-demand zones.
€400,000 elsewhere in Greece.
120 sqm minimum size on the qualifying property.

Approved applicants and their dependents receive a five-year residence permit, renewable as long as the investment is maintained. The permit allows Schengen-area free travel but is not a path to citizenship, naturalization requires seven years of physical residency. Rules continue to evolve; verify with current Greek immigration counsel before committing.

For comparison with other European programs, read our Golden Visa Europe comparison guide.

Why list with immio if you're selling

Greek property has wide international appeal, especially among EU and Golden Visa-eligible buyers. immio puts your listing in front of a cross-border, multilingual audience, exactly the buyers who travel to Athens, Crete, and the islands looking for property and pay euro prices. Whether you're selling an Athens apartment, a Crete villa, or an island home, immio expands your reach without the cost of multiple paid portals.

Selling a property in Greece? You can list it on immio for free, one active listing at €0, no credit card.

Frequently asked questions

Can foreigners buy property in Greece?: Yes. EU citizens buy on the same terms as Greek nationals with no restrictions. Non-EU citizens can also buy freely throughout most of the country, but properties in designated border areas, including parts of the northern frontier and certain islands, require advance permission from the Ministry of Defence. Permission is routinely granted but adds two to four months to the timeline.
What is the current Golden Visa threshold in Greece?: As of 2024-2026, Greece raised its Golden Visa thresholds significantly. The minimum investment is €800,000 in Athens, Thessaloniki, Mykonos, Santorini, and other high-pressure zones, and €400,000 in the rest of the country. New rules also impose a 120 sqm minimum size on the qualifying property. The historical €250,000 figure is no longer available. Always confirm the current rules with a Greek immigration lawyer before committing.
What taxes do I pay when buying a Greek property?: Resale properties carry a 3.09% transfer tax paid by the buyer (3% plus a small municipal surcharge). Notary fees run 1-1.5%, lawyer fees 1-2% (no longer mandatory in most cases but strongly recommended), and registration fees about 0.5%. New-build first sales technically attract 24% VAT, though the VAT obligation has been suspended on most new sales for several years, confirm the current status before buying off-plan.
Can I get a mortgage in Greece as a non-resident?: Yes, though the market is selective. Greek banks lend to non-residents up to 50-60% loan-to-value, with EUR-denominated variable rates indexed to ECB benchmarks. Documentation is heavy and decisions are slow, expect six to twelve weeks for approval. EU buyers find it easier than non-EU. Many foreign buyers, especially Golden Visa applicants, pay cash because the program requires the investment to be in real estate, not financed.
Do I need to be physically in Greece to buy?: No. You can complete the entire process via a power of attorney granted to a Greek lawyer. This is in fact the standard approach for non-resident buyers, especially those buying for the Golden Visa. The lawyer signs the deed at the notary on your behalf and registers the property. You only need to visit Greece to obtain a Greek tax number (AFM) and open a Greek bank account, both of which can sometimes be done remotely with the right preparation.
How long does the buying process take in Greece?: A typical resale transaction takes eight to twelve weeks from offer to registered title. The longest steps are the tax-clearance certificates required from the seller, the AFM application for the buyer, and the notarial review. Border-area properties for non-EU buyers add two to four months for Ministry of Defence clearance. Off-plan and new-build cases vary widely with construction milestones.
What are the biggest legal risks for foreign buyers?: Common pitfalls include unresolved inheritance claims on family-held properties, undeclared building modifications (illegal balconies and additions are widespread), and forestry-protected land where construction is restricted. The new National Cadastre has improved transparency, but island and rural properties still need careful title research. Always use an independent Greek lawyer, not the seller's notary, and budget for a topographical survey on land or houses.
Are Greek islands a good investment compared to mainland?: It depends on the use case. Islands like Mykonos, Santorini, and Paros offer strong short-term rental yields but high entry prices, heavy seasonality, and complex permitting. Crete combines island lifestyle with year-round demand and more reasonable prices. Mainland Athens generally offers the best long-term capital appreciation and the deepest resale market. For pure rental yield, a centrally located Athens apartment often beats an island villa once running costs are deducted.

List your property for free on immio — one active listing at €0, no credit card.