Whether you’re dreaming of a seafront villa on an Aegean island or a historic apartment in Athens, Greece offers property buyers an attractive mix of lifestyle, investment potential, and, for some, a pathway to EU residency. This guide walks you through everything you need to know before purchasing real estate in Greece in 2025.
Who Can Buy Property in Greece?
EU/EEA citizens can purchase property anywhere in Greece without restriction.
Non-EU/EEA citizens are also eligible to buy, though purchases in designated “border areas” (such as parts of the Dodecanese, Eastern Aegean, and some Ionian or Evros regions) require prior approval from the Ministry of Defence. This process typically takes 4–6 weeks and is rarely denied.
The Golden Visa: Residency Through Real Estate
Greece offers a five-year renewable residence permit to non-EU nationals who invest in real estate above certain thresholds. As of 2024, the program uses a two-tier minimum investment:
| Area | Minimum Investment |
|---|---|
| Athens (Center & South), Thessaloniki municipality, Mykonos, Santorini | €800,000 |
| All other regions | €250,000 |
This visa allows the main investor, their spouse/partner, children under 21, and both sets of parents to reside in Greece without any minimum stay requirement.
Current Market Snapshot (2025)
The Greek property market remains robust. In Q1 2025, prices rose 6.9% nationwide, with particularly strong growth in Thessaloniki (+10%), Athens (+5.5%), and popular islands (+8%).
Indicative Prices (per m²):
- Central Athens apartments: €2,200 – €3,800
- Thessaloniki center: €1,800 – €2,900
- Coastal Crete: from €1,600
- Mykonos/Santorini villas: €7,000 – €10,000
Step-by-Step Purchase Process
- Hire a Lawyer: A bilingual Greek lawyer is essential.
- Tax Number & Bank Account: You’ll need a Greek Tax ID (AFM) and a local bank account.
- Reserve the Property: A reservation deposit of €5,000–€10,000 is typical.
- Due Diligence: Legal checks on title, zoning, and encumbrances, and a civil engineer’s inspection.
- Pre-Contract (Optional): Outlines price and timeline.
- Final Contract: Signed before a Greek notary.
- Title Registration: At the Land Registry or Cadastral Office—this legally transfers ownership.
Total transaction time: 4 to 10 weeks, longer if financing or permits are involved.
Estimated Up-Front Costs
For a €300,000 resale apartment, expect the following:
| Cost Component | Rate | Amount (€) |
|---|---|---|
| Transfer Tax | 3.0% | 9,000 |
| Municipal Tax | 0.09% | 270 |
| Notary | 0.8–1.2% | 2,400–3,600 |
| Land Registry | 0.5–0.7% | 1,500–2,100 |
| Legal Fees | 0.7–1.0% | 2,100–3,000 |
| Technical Due Diligence | ~0.3% | 900 |
| Buyer’s Agent Fee (if applicable) | ~2.5% incl. VAT | 7,440 |
| Total | 8–10% | ~€25,000–30,000 |
Note: New-build properties may qualify for a temporary VAT exemption, allowing the same 3.09% transfer tax to apply instead of 24% VAT, until the end of 2025.
Financing a Property in Greece
Greek banks do lend to foreign buyers, though conditions vary:
- Loan-to-Value (LTV): 50–70% for non-residents
- Rates (2025): 3.0–6.5% fixed (3–10 years), then variable
- Term: Max 25–30 years (loan must mature before age 70)
- Documentation: Income proof and credit reports must be translated and submitted
Approval can take 4–8 weeks.
Ongoing Costs of Ownership
- Annual Property Tax (ENFIA): €2–13 per m², based on value and location
- Municipal Fees: Charged via electricity bills
- Insurance: Optional, ~0.15–0.3% of rebuild value
- Rental Taxation: Income taxed at 15–35%, depending on total revenue
Common Pitfalls and How to Avoid Them
| Risk | Avoidance Strategy |
|---|---|
| Incomplete or disputed title | Legal and cadastral checks by a lawyer |
| Unpermitted structures | Engineer inspection before payment |
| Low “objective value” declarations | Ensure declared value meets or exceeds market norms |
| Wrong Golden Visa threshold zone | Verify property postcode with a legal advisor |
| Permit delays in border areas | Apply immediately upon reservation |
Planning Ahead: Tips for a Smooth Transaction
✔ Start with legal and technical advisors
✔ Budget 8–10% extra for fees and taxes
✔ Select location wisely if seeking residency
✔ Have funds or financing pre-arranged
✔ Think long-term: resale gains are tax-free after 5 years
Buying property in Greece can be both a lifestyle upgrade and a smart investment—especially as it remains one of the more accessible real estate markets within the EU. With careful planning, due diligence, and the right professional support, navigating the Greek property market is a clear and rewarding path, whether your goal is relocation, vacation use, or residency in Europe.