The most frequent and fundamental questions of those interested in real estate in Greece:
Do you want to invest in real estate in Greece? Here you will find answers to the most frequently asked questions: who can buy, where is it worth investing, what are the prices, taxes, risks and legal steps. A practical overview for anyone interested in Greek real estate.
The most frequent and fundamental questions of those interested in real estate in Greece:
1. Can a foreigner buy property in Greece?
Yes, it can, but there are certain regulations in border zones, e.g. at the Turkish border or on some islands.
There is no problem in the EU, but sometimes special permission is required (e.g. for strategic areas).
2. What are the real property prices in Greece?
Prices vary significantly by location:
Islands like Santorini, Mykonos are very expensive
Popular but more accessible are Crete, Rhodes, Peloponnese
Inland and northern Greece tend to be cheaper
3. Is buying property in Greece a profitable investment?
Greece has a stable price increase, especially by the sea
Short-term rentals through Airbnb are popular and profitable
Attention: from 2024, some areas will be regulated due to overcrowding by tourism
4. In which area is it worth buying?
Interested parties often hesitate between:
Islands (idyllic, but worse logistics)
Athens or Thessaloniki (urban style, good accessibility)
Crete, Lefkada, Peloponnese – a combination of nature, services and accessibility
5. What are the taxes and fees when purchasing?
3% property transfer tax
Notary, lawyer, translations, land registry entry = approx. 7–10% extra on top of the price
In some cases, VAT is 24% (new buildings – but often not applied)
6. Is the purchase safe and what are the risks?
There is no unified land registry in Greece, so legal verification of ownership is necessary.
Risk in older homes or properties without a building permit
The need to have a lawyer and certified contracts
7. Do I have to open an account in a Greek bank?
Yes, it is recommended, mainly for taxes and paying bills
The need to obtain a Greek tax number (AFM)
8. How much does maintenance, fees, and property taxes cost?
Annual tax (ENFIA) – low, often around €100–300
Water, electricity - current prices
Higher expenses only for properties in communities with a pool or garden
9. What if I want to reconstruct ?
Building permit required even for minor modifications
A more complicated process than, for example, in the Czech Republic
It is recommended to have a local architect or building inspector
10. How long does the purchase take and what do I need?
Obtaining an AFM (tax number) – 1 day
The purchase itself – approx. 4–8 weeks
Need a lawyer, notary, translator