The Complete Guide to Buying Property in Greece in 2026: How to Do It Right, Step by Step

In recent years, purchasing property in Greece has become one of the most popular investments among Israeli investors—whether it’s a short-term rental apartment in Athens, a vacation home on an island, or a property for obtaining residency under the “Golden Visa” program. But behind the dream of owning property in Europe lies a complex process: Greek bureaucracy, changing regulations, a different language, and a host of legal requirements that necessitate close and professional guidance.

We have put together a detailed, practical, and up-to-date guide to buying real estate in Greece—from the initial preparations to registration with the Land Registry, including every critical step along the way, a list of risks to avoid, and practical advice.

Step 1: Defining a Strategy and Laying the Groundwork

What is the purpose of the purchase?

Before you even start looking for properties, it’s important to understand exactly what you’re looking for—and what your ultimate goal is:

• Income-Generating Investment (Short-Term Rentals) – You will typically focus on active tourist areas such as apartments in Athens, Thessaloniki, or certain islands.
• Long-term investment for appreciation – in developing neighborhoods, usually in the suburbs or less-touristy areas where value appreciation is expected.
• Vacation home or second home – Projects in natural, mountain, or coastal areas, with an emphasis on quality of life.
• The “Golden Visa” Program – Obtaining residency in the European Union (for investors contributing €500,000–€800,000, depending on the region).

A clear strategy will help you choose the area, the budget, and even the type of property (an apartment versus a single-family home, for example).

Realistic Budget Planning – Beyond the Property Price

The cost of purchasing a property in Greece is not limited to the purchase price alone. A number of additional costs must be taken into account:

• A purchase tax of approximately 3.09%
• Greek attorney's fees (1%–2.5%)
• Notary fees, land registry fees, notarized translations, and apostilles
• Brokerage fee (2%–4%) – if a broker is involved
• Engineering/legal reviews, costs associated with opening a bank account and obtaining a tax ID number

Total associated costs are estimated at 7.5%–15% of the purchase price—meaning that for every 100,000 euros, at least 7,500–15,000 euros must be added.

Should I apply for a Greek tax ID number at this stage?

Yes – Purchasing property in Greece requires obtaining an AFM (Greek tax identification number). This can be done through a local attorney even without being physically present in the country, and the process involves a fee of €200–€500.

Step Two: Market Research and Finding a Suitable Property

Regional Research: Not Every Property in Greece Is an Opportunity

One of the most common mistakes made by foreign investors is buying an apartment in Greece based solely on price. It is important to conduct preliminary research on the area:

• Is there a demand for rentals?
• What is the condition of the infrastructure, transportation, and proximity to points of interest?
• What is the trend in the local real estate market?
• Are there any restrictive regulations on short-term rentals?

For example, Athens is divided into neighborhoods—some of which are ideal for investors, while others suffer from neglect, poor accessibility, or a lack of infrastructure. Each area must be evaluated on its own merits.

Property Tour 

Whether you’re traveling to Greece yourself or working with a local agent, it’s important to visit the property in person:

• Is the maintenance status normal?
• Are there any moisture issues or outdated infrastructure?
• What's the noise like around here? What do the nearby buildings look like?

One of the advantages of working with a local team when evaluating real estate investments in Greece— such as a lawyer, engineer, or consulting firm—is the ability to get the full picture, even when you’re not physically present. When buying a new apartment in Greece, the advantage is knowing that there are no maintenance or infrastructure issues.

Step 3: Hiring a Greek lawyer

Why is this so important?

A Greek lawyer (preferably fluent in Hebrew and/or English) will represent you before all relevant authorities:

• Ensure that the property is registered in the seller's name and free of liens
• will check for any building code violations or planning issues
• will handle the agreements, review problematic clauses, and oversee the transfer of payments

Important to know: Your attorney represents only you—not the seller or the real estate agent. This is the most important layer of protection in an international transaction.

Key Considerations When Choosing a Lawyer:

• Proven experience in real estate transactions with foreign buyers
• Understanding current regulations (e.g., regarding the Golden Visa)
• Reliable reviews (including from Israelis who have recently made a purchase)

Step 4: Opening a Bank Account – A Bureaucratic Hurdle to Prepare For

In Greece, all payments related to the purchase of real estate must be made through a local bank account in the buyer’s name.

What does the process involve?

• Visiting the bank in person (or providing a power of attorney)
• Passport + AFM number
• Proof of Income and Declaration of Source of Funds
• Temporary address in Greece

Opening an account can take 2–4 weeks. We recommend doing so as soon as possible to take advantage of favorable exchange rates.

Step 5: Engineering and Legal Review of the Property

In Greece, there are many properties built between the 1960s and 1980s that include additions, structural deviations, or maintenance issues. Therefore, it is essential to have an engineer’s inspection performed before making any commitment.

What to check for:

• Moisture, cracks, structural stability
• Condition of the electrical and plumbing systems
• Building code violations – a common problem that can prevent registration with the Land Registry or result in fines

A licensed engineer can prepare an official engineering report—which is sometimes required for municipal approval or for property insurance.

Step 6: Preliminary Agreement and Down Payment

Once all inspections have been completed to the buyer’s satisfaction, a preliminary agreement is signed

Includes:

• Agreed price
• Payment Schedules
• Cancellation Policy
• A clear definition of the parties' responsibilities

At this stage, you are required to pay a good-faith deposit of 5%–10%—sometimes into the lawyer’s escrow account. It is important to ensure that the contract protects you in case the seller backs out.

Step 7: Full Payment and Taxation

Money transfers require caution—large sums must be fully documented:

• All transfers will be made through your Greek bank
• The source of the funds must be verified
• The attorney will ensure that all payments are received in accordance with the law

In addition, the following must be paid:

• A 3.09% purchase tax (based on the higher of the contract price or the appraised value)
• Land Registry fees, notary fees, and attorney fees

Any tax that is not paid on time may delay the registration of the property and even result in the cancellation of the transaction.

Step 8: Signing at the notary public

The final contract was signed in the presence of a Greek notary only. It certifies the following:

• Identity of the Parties
• Validity of all documents
• The purchaser's property rights

Without a notary – the contract cannot be registered with the Land Registry. The contract can be signed without your presence, using a power of attorney granted to an attorney.

Step 9: Registration with the Land Registry – Only then are you the legal owners

This is the final step in the process. The attorney submits all the necessary documents for registration, including:

• Signed contract
• Tax Payments
• Notarized Translations

Registration time: 2–8 weeks. Once the registration is complete, you are the property owner. Any delay at this stage undermines your legal rights to the property.

Step 10: Transfer of Ownership, Operation, and Maintenance

Completing your purchase is just the beginning:

• Transferring water, electricity, and internet bills
• Building and Property Insurance
• Licensing (for short-term rentals)
• Ongoing maintenance and property management (if intended for rental)

Many people forget to factor these costs into their initial planning—but they are essential to the success of the investment.

Steps for Buying Property in Greece

Steps for Buying Property in Greece

Documents Required for Purchasing Property in Greece

Typical Timeline for Purchasing Property in Greece

Frequently Asked Questions