Can Foreigners Buy Property in Greece? A Complete Legal Guide

Greece has become an increasingly attractive destination for international buyers seeking a holiday home, a retirement residence, or an investment property.

One of the most common questions we receive is:

Can foreigners buy property in Greece?

The answer is yes.

Both EU and non-EU citizens, as well as foreign companies, are permitted to purchase and own real estate in Greece.

Ownership rights granted to foreign buyers are the same as those enjoyed by Greek nationals. Once the transaction is completed and registered, the buyer becomes the lawful owner of the property.

There are important legal and practical considerations that should be addressed before any commitment is made. Understanding them from the beginning can help ensure a smooth and secure transaction.

Are There Any Restrictions?

Foreigners can buy property in Greece.

However, certain restrictions apply to non-EU citizens who wish to acquire property in designated border areas for national security reasons.

These areas include:

• Parts of northern Greece
• The East Aegean islands
• The Dodecanese islands
• Certain locations in Crete
• Certain locations in Rhodes

In such cases, the prospective buyer may be required to obtain a special acquisition permit from the competent authorities. The permit is typically granted following a security review of the applicant.

Whether these restrictions apply depends on:

• The buyer's nationality; and
• The exact location of the property.

Do I Need a Greek Tax Number (AFM) and Why?

Yes.

Before purchasing property in Greece, a foreign buyer must obtain a Greek Tax Identification Number, commonly known as an AFM. The AFM is required for:

• Signing contracts
• Paying taxes and fees
• Opening certain bank accounts
• Registering ownership rights

The AFM is issued by the Greek Tax Authority following the submission of the required documentation and applications. This process can also be completed on the buyer's behalf by a lawyer or accountant acting under a power of attorney.

The process is straightforward and should be completed before the transaction progresses.

Why Is Legal Due Diligence Essential?

Due diligence is crucial.

Finding an attractive property and dealing with a seller who claims ownership is not enough. Before committing to a purchase, it is vital to verify the property's legal status and identify any issues that could affect your ownership rights or future use of the property.

A legal review may reveal issues such as:

• Mortgages or liens
• Ownership disputes
• Easements and third-party rights
• Registration irregularities
• Building or planning law issues
• Pending legal claims

Due diligence is needed to make informed decisions, avoid unnecessary risks, and enjoy greater peace of mind throughout the transaction.

The Purchase Process

Although every transaction is unique, a typical property acquisition in Greece generally involves the following steps:

1. Property Selection

The buyer identifies a property and begins preliminary discussions with the seller or real estate agent.

2. Legal Due Diligence

The property's legal status is examined and ownership rights are verified.

3. Tax and Administrative Preparation

The buyer obtains an AFM and completes any required administrative formalities.

4. Contract Preparation and Review

The relevant agreements are prepared and reviewed to ensure that the buyer's interests are protected.

5. Execution of the Transfer

The parties proceed to the execution of the transfer deed before a Greek notary.

6. Registration of Ownership

The transfer is registered with the appropriate public registry, formally completing the acquisition process.

What Costs Should Buyers Expect?

In addition to the purchase price, you should budget for several transaction-related expenses.

These may include:

• Transfer taxes
• Notarial fees
• Registration fees
• Legal fees
• Administrative expenses

The total cost will vary depending on the nature and value of the transaction.

A clear understanding of these costs from the beginning can help avoid unexpected and unpleasant surprises later in the process.

Can Foreign Buyers Obtain Residency Through Property Investment?

EU Citizens

If you are an EU citizen:

• You do not need a visa to enter Greece.
• You do not need a residence permit to live in Greece.
• You may stay in Greece for as long as you wish.

Non-EU Citizens

If you are a non-EU citizen:

• Owning property in Greece does not automatically grant you residency rights.
• Without a visa or residence permit, you may stay in Greece for up to 90 days within any 180-day period (Schengen rules).
• For longer stays, you will need to obtain an appropriate residence permit.
• This may include residence-by-investment programs such as the Greek Golden Visa.

The eligibility requirements, investment thresholds, and applicable regulations may change over time and should be reviewed carefully.

A lawyer can assist with assessing eligibility, preparing the required documentation, and guiding applicants through the residence permit process.

Why Do I Need a Lawyer?

If you have read this guide all the way through, you have probably already realised that purchasing property in Greece involves important legal, administrative, and practical considerations. Having an experienced lawyer by your side ensures that the process is completed safely, efficiently, and with confidence.

An experienced real estate lawyer can assist with:

• Tax and administrative formalities
• Legal due diligence
• Ownership verification
• Contract review and negotiation
• Transaction structuring
• Registration procedures
• Representation through powers of attorney

There is no reason to navigate this journey alone. The smoother it is, the sooner you can focus on what truly matters: enjoying your new property in Greece.

Final Thoughts

Buying property in Greece should be an exciting and rewarding experience, whether you are purchasing a holiday home, relocating, retiring, or investing in real estate.

With proper preparation and the right professional guidance, the process can be completed smoothly, efficiently, and with confidence.

The goal is simple: to help you move beyond the paperwork and legal formalities and start enjoying everything that your new property in Greece has to offer.

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About the Author

Angelos Papaspyropoulos is a Greek Attorney-at-Law and founder of Nomos Terra, assisting clients with property acquisitions, real estate transactions, and property-related legal matters throughout Greece.