- A Greek Tax Registration Number (AFM) and a local bank account are mandatory before buying property.
- Closing costs add 8% to 10% to the purchase price for taxes, notary fees, and legal representation.
- The standard timeline from accepted offer to final contract is 8 to 12 weeks.
- A title search at the Registry of Mortgages or Hellenic Cadastre is legally required to check for debts and illegal constructions.
- Golden Visa minimum investment thresholds for 2026 range from €250,000 to €800,000 based on location and property type.
Step-by-Step Buyer's Checklist
Foreign buyers must complete these steps to acquire property in Greece and comply with local property law.
- Appoint a lawyer: Hire a local representative using a Power of Attorney (PoA) drafted by a Greek notary or a Greek consulate.
- Obtain an AFM: Your lawyer or accountant applies for your tax number at the local tax office (DOY).
- Open a bank account: Provide your passport, AFM, proof of residence, and proof of income to a Greek bank.
- Conduct a title search: Verify ownership history, encumbrances, and building permit compliance at the Land Registry.
- Sign the pre-contract: Execute a private promissory agreement and pay a 10% deposit to secure the property.
- Pay transfer tax: Submit the declaration and pay the 3.09% property transfer tax before signing the deed.
- Sign the final contract: Execute the deed of sale before a Notary Public.
- Register the title: Record the new deed at the Hellenic Cadastre to finalize ownership.
Tax Number (AFM) and Bank Account Requirements
You cannot buy property, pay taxes, or connect utilities in Greece without a Greek Tax Registration Number (AFM) and a local bank account.
The local tax office (DOY) issues the AFM. Non-residents must appoint a local tax representative, usually an accountant or lawyer, to receive official tax correspondence. After the state issues the AFM, you can open a Greek bank account. Greek banks enforce strict anti-money laundering (AML) rules. You must provide certified copies of your passport, recent utility bills, and official tax returns from your home country.
Legal Title Search
A title search verifies the seller is the true owner and the property is free of mortgages, liens, or third-party claims. Without this search, you risk taking on the previous owner's debts or buying a property with unpermitted modifications.
Your lawyer conducts this search at the local Registry of Mortgages and the Hellenic Cadastre (Ktimatologio). The search confirms ownership history and ensures physical boundaries match the registered topography. Your legal team and a civil engineer will verify all structures comply with original building permits. Illegal extensions are common in Greece and block property transfers.
Golden Visa 2026 Minimum Investments
The Greek Golden Visa program grants a five-year renewable residence permit to non-EU investors. The program uses a three-tier minimum investment system based on location and property type:
- €800,000 threshold: Applies to the Attica region (Athens), Thessaloniki, Mykonos, Santorini, and islands with a population over 3,100.
- €400,000 threshold: Applies to all other regions. Properties in the €800,000 and €400,000 tiers must have a minimum floor area of 120 square meters.
- €250,000 exception: Available nationwide if you buy commercial property and convert it to residential use, or if you restore a historically listed building.
Read the official regulatory details on the Enterprise Greece website.
Closing Costs Breakdown
Foreign buyers must budget an additional 8% to 10% of the purchase price for mandatory closing costs.
| Expense Category | Estimated Cost | Description |
|---|---|---|
| Transfer Tax (FMA) | 3.09% | State tax calculated on the contract price or objective value, whichever is higher. |
| Notary Fees | 1.0% - 1.5% | Paid to the Notary Public who drafts and oversees the final contract. |
| Land Registry Fee | 0.5% - 0.7% | Paid to the Hellenic Cadastre to record the title. |
| Legal Fees | 1.0% - 2.0% | Covers the lawyer's title search, contract review, and representation. |
| Agent Fee | 2.0% (+ 24% VAT) | Standard buyer commission paid to the real estate agency. |
Purchase Timeline
Buying real estate in Greece takes 8 to 12 weeks from an accepted offer. Missing building permits or backlogged land registries can extend this.
Weeks 1 to 3 involve obtaining the AFM, opening a bank account, and conducting due diligence. By week 4, buyers sign the preliminary contract and pay the 10% deposit. During weeks 5 through 10, the seller gathers mandatory tax clearances and engineering certificates. In the final two weeks, you pay the transfer tax, sign the final deed before the Notary, and register the title.
Market Realities and Risks
Many foreign buyers make assumptions based on their home country's legal system. Correcting these early prevents disputes.
- Notary representation: The Notary Public is a neutral state official who ensures the transaction complies with tax and property laws. They do not negotiate terms or protect you from bad deals. You need an independent lawyer for that.
- Building illegalities: It is illegal to transfer property in Greece with undeclared architectural extensions or unpermitted structures. The seller must hire an engineer, declare illegalities, and pay state fines before the sale.
- Cash payments: Greek law prohibits cash transactions for real estate. The entire purchase price must be transferred via verifiable bank channels, moving directly from the buyer's account to the seller's account.
Buying Restrictions and Remote Purchases
Foreigners can buy property freely in most of Greece. However, non-EU citizens face restrictions in designated national border areas. Purchasing in the Dodecanese islands, parts of Northern Greece, or Crete requires a special permit from the Ministry of Defense. Your lawyer applies for this permit.
You do not need to be in Greece to buy property. You can grant a Power of Attorney to a Greek lawyer. This allows them to secure your tax number, open your bank account, and sign the deed on your behalf.
If the title search uncovers a mortgage or a lien, you can withdraw from the purchase without penalty. Alternatively, your lawyer can draft a pre-contract stipulating the seller must use your deposit exclusively to clear the debt before the final closing.
Legal Representation
Hire a qualified real estate lawyer before signing reservation forms or paying holding deposits. A lawyer protects you from predatory terms and ensures the property is legally viable for transfer.
The Greek system places the burden of due diligence on the buyer. Professional representation protects you against encumbrances and title disputes. Find verified real estate lawyers in Greece through Lawzana's directory.
Next Steps
Take these immediate actions to prepare for a property purchase in Greece:
- Draft a Power of Attorney: Contact a Greek consulate or local Greek notary to grant legal authority to your lawyer.
- Prepare financial documents: Gather certified copies of your passport, tax returns, and bank statements to satisfy AML requirements.
- Consult an engineer: Hire a local civil engineer to physically inspect your chosen property and guarantee it matches the legal permits on file.
