Foreigners are buying property in Greece for many different reasons. Some buyers like to have their own house near the sea, others expect to make money on rent. Investors are interested in the prospects of a Greek "golden visa." What awaits a buyer from abroad?
Greece is one of the countries with the longest coastline in the world because it owns more than 3,000 large and tiny islands – about 20% of the territory. There are an average of 300 sunny days a year. The local climate is considered one of the best in the world. But how to become a property owner in this paradise?
Can foreigners buy property in Greece?
Citizens of any country have the right to buy residential and commercial real estate in Greece. You can make a deal as an individual or a legal entity.
The only exceptions are the areas considered border territories. A foreigner needs the authorities' permission to buy real estate in these places. The list includes some Greek islands bordering Turkey (for example, Rhodes and Kos).
The cost depends on the property type and region. In general, Greece is still a relatively inexpensive country. In Athens, Thessaloniki, you can buy property at a price of up to € 2,000 per sq. m. There are locations with € 500-750 per square meter.
It is also useful to study Greek or international real estate sites to learn more about the process of buying property.
Best places to buy property in Greece
Most settlements in Greece have all the necessary infrastructure, which means that can easily choose property between big cities and small towns. Transport links are well established between the regions.
Athens is the capital city of Greece, one of the oldest and most famous cities in the world, and the cradle of an ancient civilization. Modern Athens is a developed metropolis with all the necessary infrastructure. Housing prices in Athens range from €1,400 per sq. m. in the western districts to almost €3,000 in the south of the city.
Thessaloniki is the largest city after Athens, the cultural capital of Greece. It is full of museums, restaurants, and shopping malls, and for lovers of nightlife and clubs, there is a big reconstructed historical district Ladadika. Housing prices in Thessaloniki range from €1,200 to €1,700 per sq. m. You can buy a small apartment can be purchased for €50,000-70,000.
Corfu is the northernmost and the second largest among the Ionian Islands. A little more than 100,000 people live here. Corfu has everything you need for year-round living. Many ancient villages are gradually turning into resorts with numerous cafes and shops. On average, a square meter of housing in the prefecture of Corfu costs €1,700.
Crete is the largest and southernmost island of Greece, the fifth largest in the Mediterranean Sea. The infrastructure of Crete is rich: eight public hospitals, three universities, museums, and historical and cultural attractions located in the largest cities. According to Spinogatos, the cost per square meter in Heraklion Prefecture is €1,300.
Santorini is a volcanic island of the Cyclades archipelago in the Aegean Sea. The area is 76,000 square kilometers, and the length of the coastline is 66 km. Here you can find a variety of restaurants and cafes with local cuisine, water sports clubs, shops, beauty and health centers, and tanning salons. If you are looking for a Santorini property for sale, remember that this is one of the most expensive islands in Greece: a square meter of housing in Santorini costs more than €2,000 on average.
How can I find a property in Greece?
You are not obliged to hire a real estate agent. But you will save yourself the need to understand legal documents in an unfamiliar language. You can contact a Greek real estate agency or a company in your country that sells real estate in Greece through its partners.
Examples of properties for sale in Greece:
250 000 €
House in Kassandra, Greece
200 sq.m432
ResidenceRemote Transaction
For sale a 2-storey furnished house of 200 m² on a plot of 3.500 m².
It consists of 3 bedrooms, living room, kitchen, 1 bathroom, 1 WC and verandas.
Also, there is: diesel heating, solar panels of 5 KW, fireplace, A/C unit, solar water heater, storeroom, 2 parking places, garden.
Renovation year: 2014.
El Greko
290 000 €
House in Thessaloniki, Greece
225 sq.m642
Residence
For sale a 3-storey cottage with an area of 225 sq.m in the suburbs of Thessaloniki. The first floor consists of one bedroom, a living room with a kitchen, one shower room, one pantry. The second floor consists of a living room, one bathroom. The third floor consists of 3 bedrooms, one bathroom. The windows offer mountain views. The property has...
GREKODOM DEVELOPMENT A.E
580 000 €
Flat in Voula, Greece
137 sq.m433
Residence
Apartment for sale with an area of 137 sq.m in Athens. The apartment is located on the second floor and consists of one bedroom, living room, one kitchen, one bathroom. The windows offer a view of the city. The object has a fireplace, air conditioning. The property is sold furnished. There is an elevator in the building. The property includes a...
GREKODOM DEVELOPMENT A.E
250 000 €
Maisonette in Agios Konstantinos, Greece
120 sq.m532
Townhouse for sale with an area of 120 sq.m in Attica. The townhouse is located on 3 levels. The ground floor consists of a living room. The first floor consists of one bedroom, a living room with a kitchen, one kitchen, one shower room. The second floor consists of 2 bedrooms, one bathroom. The windows overlook the sea. The property has a...
GREKODOM DEVELOPMENT A.E
610 000 €
Villa in Corinthia, Greece
320 sq.m853
Residence
For sale a 3-storey villa of 320 sq.m in Loutraki. The first floor consists of 2 bedrooms, a living room, one kitchen, one bathroom, one gym. The second floor consists of 2 bedrooms, a living room, one kitchen, one bathroom. The third floor consists of one bedroom, living room, one bathroom, one office. The windows offer a magnificent view of...
GREKODOM DEVELOPMENT A.E
190 000 €
Flat in Paiania, Greece
90 sq.m321
Apartment for sale with an area of 90 sq.m in Attica. The apartment is located on the second floor and consists of 2 bedrooms, a living room with a kitchen, one bathroom, one bathroom. The object has a fireplace, heating. The property is sold furnished. There is an elevator in the building. The property includes a parking space. The apartment is...
GREKODOM DEVELOPMENT A.E
460 000 €
House in Athens, Greece
230 sq.m53
Residence
For sale 3-storey house of 230rs in Attica. The ground floor consists of one bedroom, living room, one kitchen, one bathroom. The first floor consists of 3 bedrooms, 2 bathrooms. The second floor consists of one bedroom. A view of the mountain, the forest opens up from the windows. There is a fireplace, air conditioning and heating. The owners...
Mercury Group
340 000 €
House in Kavala, Greece
280 sq.m63
Residence
For sale 2-storey house of 280rs on the island of Thassos. The ground floor consists of 3 bedrooms, living room, one kitchen, one bathroom. The first floor consists of 3 bedrooms, living room with kitchen, living room, one kitchen, 2 shower WC. There are awnings and heating. The owners will be leaving the furniture with the sale. There is an...
Mercury Group
3 000 000 €
Villa in Boiothia, Greece
800 sq.m
Residence
An ideal villa on the shores of the clear and transparent waters of the Ionian Sea, in one of the most environmentally friendly areas of Greece. A real pearl on the very shore of a calm bay, to spend the season ideally with a family with children or a friendly company. The living area of the villa is 800 sq. m. The territory is 1500 sq.m. On the...
GREKODOM DEVELOPMENT A.E
450 000 €
Maisonette in Chalkidiki, Greece
165 sq.m752
Residence
Townhouse for sale with an area of 165 sq.m on the Kassandra peninsula, Halkidiki region. The townhouse is located on 3 levels. The ground floor consists of 2 bedrooms, a living room, one shower room, one pantry. The first floor consists of a living room with a kitchen, one bathroom. The second floor consists of 3 bedrooms, one bathroom. The...
GREKODOM DEVELOPMENT A.E
370 000 €
Flat in Chania, Greece
120 sq.m322
Residence
Apartment for sale with an area of 120 sq.m on the island of Crete under construction. The apartment is located on the fifth floor and consists of 2 bedrooms, a living room with a kitchen, 2 shower rooms, one pantry. The windows offer views of the city. The facility has solar panels for water heating, air conditioning, heating. The property is...
GREKODOM DEVELOPMENT A.E
587 000 €
Villa in Chania, Greece
100 sq.m431
Residence
For sale a 3-storey villa with an area of 100 sq.m on the island of Crete. The basement floor consists of 2 storerooms. The first floor consists of one bedroom, a living room with a kitchen, one bathroom. The second floor consists of 2 bedrooms, one bathroom. The windows offer a magnificent view of the sea, the mountains, the forest. The...
GREKODOM DEVELOPMENT A.E
118 000 €
Flat in Thessaloniki, Greece
47 sq.m211
Apartment for sale with an area of 47 sq.m in Thessaloniki. The apartment is located on the ground floor and consists of one bedroom, a living room with a kitchen, one shower room. The facility has heating. District: Analipsi
GREKODOM DEVELOPMENT A.E
110 000 €
Maisonette in Kassandra, Greece
55 sq.m321
Apartment for sale with an area of 55 sq.m on the Kassandra peninsula, Halkidiki region. The apartment is located on the third floor and consists of 2 bedrooms, a living room with a kitchen, one shower room. The apartment has a corner location. The facility has air conditioning. The property is sold furnished. The property includes a parking space.
GREKODOM DEVELOPMENT A.E
350 000 €
Flat in Athens, Greece
60 sq.m211
Residence
For sale apartment of 60rs in Athens. The apartment is situated on the 4th floor. consists of one bedroom, living room, one kitchen, one bathroom. Flat has double-frontage layout. A view of the sea, the mountain opens up from the windows. There are solar panels for water heating, air conditioning, awnings and heating. The owners will be leaving...
Mercury Group
160 000 €
Flat in Pieria, Greece
200 sq.m322
Apartment for sale with an area of 200 sq.m on the Olympic Riviera. The apartment is located on the second floor and consists of 2 bedrooms, a living room, one kitchen, one bathroom, one shower room. The windows offer views of the city. The object has a fireplace. The property includes a parking space.
GREKODOM DEVELOPMENT A.E
137 000 €
Flat in Athens, Greece
73 sq.m321
Apartment for sale with an area of 73 sq.m in Athens. The apartment is located on the second floor and consists of 2 bedrooms, a living room, one kitchen, one bathroom. The facility has solar panels for water heating, air conditioning, awnings, heating. There is an elevator in the building. The apartment is located in the Attica area, a 5-minute...
GREKODOM DEVELOPMENT A.E
630 000 €
Townhouse in Athens, Greece
104 sq.m432
Residence
For sale under construction maisonette of 104rs in Athens . The maisonette has 2 levels. 3rd floor consists of , living room with kitchen, one shower WC. 4th floor consists of 3 bedrooms, one shower WC. A magnificent view of the sea opens up from the windows. There is a fireplace, air conditioning and heating. Building has a lift. There is an...
Mercury Group
540 000 €
Flat on Ionian Islands, Greece
104 sq.m321
Residence
For sale apartment of 104rs on the island of Corfu. The apartment is situated on the 3rd floor. It consists of 2 bedrooms, living room, one kitchen, one bathroom, one WC, one storeroom. Flat has corner layout. A view of the city, the sea opens up from the windows. There is heating. Building has an elevator. The apartment is located in the center...
Mercury Group
120 000 €
Flat in Thessaloniki, Greece
42 sq.m211
An apartment of 42 sq.m is for sale in Thessaloniki. The apartment is located on the second floor and consists of one bedroom, a living room with a kitchen, one shower room. The facility has air conditioning, heating. The property is sold furnished. There is an elevator in the building. The facility has an alarm system installed.
When looking for a new home in Greece, the most important thing to do is to obtain a local TIN. An individual tax number is required for all calculations on the transaction. The local tax authority issues it. You can handle it via a lawyer, who can also help you with making an offer. Previously, the participation of a lawyer was mandatory by law, but now they work only at the buyer's request.
Greece is one of the best options for investors due to its geographical location and attractive conditions of the Golden Visa program. You can get a five-year residence permit by spending at least €250,000 on Greek property.
The standard tax rate for the purchase of new buildings in Greece is 24% (VAT). Since 2014, a preferential rate (3.09%) has been applied only for facilities whose construction permit was issued before January 1, 2006.
However, since 2020, the Greek government has announced a VAT freeze for all new buildings, including unsold real estate built after 2006. The new rules will be in effect for three years – until the end of 2022.
For the lawyer's fee, you need to pay about 1.5% of the cost of the object. Additional services (for example, legal analysis of the transaction in non-standard situations) are agreed upon and paid separately. This amount already includes the preparation of all documents and transfers.
Notary expenses usually amount to 1.5% of the contract value of the property.
The commission of the real estate agency is up to 2% of the transaction amount. In rare cases, companies do not charge a commission if a seller is a developer.
In conclusion
As a foreigner, you can buy Greek properties on the same terms as residents, except for border regions.
You have the right to obtain a Greek Golden Visa by buying property for €250,000 or more.
You don’t have to use a lawyer’s help by law, but they are very helpful if you don’t speak Greek.
Greece is a relatively cheap destination for investors.
