Frequently Asked Questions

Here’s the step-by-step guide on buying property in Greece.

Any foreigner can own a home in Greece. The country does not apply any restrictions on the purchase. However, it is highly advised that you have legal assistance to hold your back.

Required Documents

• A Valid Passport
• AFM (Tax Registry Number)
• Valid Visa to enter Greece (in case of non-EU national)
• Residence proof
• Copy of tax returns
• Government-issued ID proofs

Step-By-Step Guide

1) Take time while researching:
The very first thing you need to do is decide the type of property you want to buy.

Search on our website what you are interested of and contact us.

2) Visit the property for a thorough examination:
What’s better than visiting the site physically and have an insight into what you are buying. Therefore, once you have enlisted the properties you are interested in buying, travel to Greece and look at them.

Besides, give a check to the surroundings, amenities, etc that you want to have nearby.

3) Select the property to buy:
After visiting all the shortlisted properties, it’s time to finally settle for one. If you seek some more assurance, give it a double check, a second visit.

Note: It’s best if you hire a lawyer to handle all the legal matters of the procedure to be safe.

4) Quote and negotiate the property price:
Taking care of your budget, quote the amount that suits your pocket. (Make sure not to state an unreasonable amount). Besides, keep factors like exchange rates, mortgage availability, and rates into consideration. After you have negotiated and settled with a final price, you are halfway there to buying property in Greece.

Note: Make sure to check the extra charges adding up to the price of the property, like VAT.

5) Reserve the property:
Reserve the property by depositing a small amount to the seller to affirm that you will buy the property. This deposit is usually 10% of the total price. You will get your preliminary contract.

Caution: Do not pay any amount without consulting with your lawyer, as you may be asked to sign a few documents as well.

6) Draft the Final Deed:
Once the lawyer has examined all the regulations, taxes involved, and debts, you will get a copy of the contract from the seller. Also, you will have to go to the notary for the final draft. Post the final deed has been signed in front of the notary, the process will be registered in the public records.

The seller will be asked to provide a tax certificate to prove he has a clean record in the past.

7) Get your Tax Number:
To get the Greek Tax Registry Number issued, you need to visit the nearest tax office to where you reside. Don’t worry, you do not need an appointment for this.

The Greek Tax Number is called the AFM, and you will get it after you have got your full registration card or Residence Permit of Greece. One cannot buy a property in Greece with the Tax number. Besides, get the access codes to the “TAXIS” system to fulfill its reporting obligations.

Finally, after the above procedure has been completed, submit the certificates and contract paper to the Registry of Mortgages.

The initial cost of buying a property in Greece is of course the value of the real estate. And maybe, there will be a 10 percent down payment for the property before the legal transaction.

There are further charges and taxes to be paid during the process. The expenses include commission, taxes, agent fees, lawyer fees, notary, and registry charges.

Commission is to be paid by both the seller and buyer.

Buyer and seller each pay:

• 2500€ for property sold up to 125000€
• 2% for property sold for more than 125000€

Yes, there are property taxes in Greece. They are numerous and they might differ according to the specific case, but here is an overall rundown:

• Agency / Agent fees: 2.00% or 2.5% + VAT
• Lawyer fees: 0.40 – 1% + VAT (23%)
• Notary fees: 0.65 – 1% + VAT (23%)
• Registration charges: 0.5% + VAT (23%)

Another thing to keep in mind is the exchange rates which might differ in every institution. Choosing an advantageous bank might cut the costs considerably.

Yes, they can. There are no restrictions as to who can purchase property in Greece, yet EU citizens or residents are considerably more advantageous in the process. EU residents/citizens often run into no problems whatsoever during the process of transaction, but non-EU individuals have to prove their connections to Greece and their intent for the real estate. Their application goes through the Ministry of Defence which evaluates the submitted proof of intent and connection.

The price of property and the tax rate applicable are as follows

€200,000 – 0.10%
€300,000 – 0.15%
€400,000 – 0.25%
€500,000 – 0.35%

It is then 1.10% for a property of 2 million euros. Above that, the property tax is 1.15%.

When you buy a property in Greece, a transfer tax has to be paid. This rate is usually 3.09% of the taxable property value.

Also, a real estate property tax known as the ENFIA is charged every year to both natural and legal entities owning properties in Greece.