Country guide
Buying property in Greece
Every figure carries its source and last-checked date.
EUR 3,200
Price per m² (capital)
5.5 to 8%
Total buying costs
4.4%
Gross rental yield
+62%
5-year price trend
If you want to buy property in Greece, you are looking at one of the strongest housing markets in Europe. Apartment prices have climbed 62% in five years according to the Bank of Greece index, driven by years of consecutive growth in Athens, Thessaloniki and the islands. Athens averages around EUR 3,200 per square metre, the islands around EUR 2,650, while rural mainland areas still trade near EUR 1,200.
Greece also stands out for its low transaction tax: just 3.09% on the purchase price, one of the lowest transfer taxes in Europe. Add notary, registration and legal fees and total buying costs typically land between 5.5% and 8%, modest compared with most Mediterranean neighbours. There is no wealth tax, and capital gains tax for private sellers is suspended through the end of 2026.
The Greece golden visa remains active as well, with tiered thresholds since September 2024: EUR 800,000 in prime areas, EUR 400,000 elsewhere, and EUR 250,000 reserved for conversions and restorations. This guide walks you through the process, the costs and the rules step by step.
Key facts
- Price per m² (capital)
- EUR 3,200
- Spitogatos asking-price data / Bank of Greece index (Athens average; centre ~€2,800, Kolonaki/Riviera €5,000+)(2026-07)
- Price per m² (coast)
- EUR 2,650
- Greek islands average (Cyclades ~€3,900/m2, Crete ~€2,100-2,450/m2; prime Mykonos/Santorini €9,000+)(2026-07)
- Price per m² (rural)
- EUR 1,200
- Indomio (Spitogatos group) regional data, June 2026: inland prefectures Arta €906/m2, Ilia €1,020, Arcadia €1,448; Epirus region avg €1,703 incl. coast; cheapest mainland prefectures ~€585-900 (Kastoria €585, Spitogatos SPI Q2 2026)(2026-07)
- 5-year price trend
- +62% over 5 years
- Bank of Greece apartment price index, compounded annual changes 2021-2025 (+7.6%, +11.9%, +13.8%, +9.1%, +8.1%; Q1 2026 +5.7% y/y)(2026-07)
- Total buying costs
- 5.5 to 8%
- Sum of the transfer tax, notary, registration and legal ranges below(2026-08)
- Gross rental yield
- 4.4%
- Global Property Guide, national average gross residential yield May 2026 (4.38%; Athens ~5.5%)(2026-07)
- Cost of living (EU = 100)
- 86
- Eurostat price level index, household final consumption expenditure, EU-27 = 100 (Greece 86.0 in 2024)(2026-07)
- Golden visa
- Active, property qualifies from EUR 250,000
- Law 5100/2024 art. 92 (thresholds and letting ban), Law 5275/2026 (procedure)(2026-08)
Where in the country, and what it costs
A national average hides the only question that matters once you are serious: which stretch of coast. These are the areas foreign buyers actually shortlist, from cheapest to dearest. Note that these are province or district averages covering everything inside them, inland towns included, so they answer a different question than the single coastal figure in the table above.
- Heraklion (Crete)EUR 2,200/m²
Asking prices sit roughly 900 euro per square metre below Chania on the same island, and Lasithi in the east is lower still at 1,944 euro.
- Ionian IslandsEUR 2,531/m²
Corfu, Lefkada and Kefalonia all pass the 3,100 inhabitant mark and so sit in the 800,000 euro tier, with Lefkada the priciest of the three at 3,302 euro per square metre.
- Kalamata (Messenia, Peloponnese)EUR 2,892/m²
Mainland Messenia falls in the 400,000 euro golden visa tier, so the compulsory 120 square metre qualifying property is reachable at that threshold, unlike anywhere on Crete or Corfu.
- Chania (Crete)EUR 3,102/m²
Asking prices run about 40 percent above Heraklion, and because Crete counts as an island above 3,100 inhabitants the golden visa threshold is 800,000 euro rather than 400,000.
- CycladesEUR 4,063/m²
A regional average that covers a wide spread, from Paros at 5,263 euro per square metre to islands under 3,100 inhabitants where the golden visa threshold drops to 400,000 euro.
- Athens Riviera (southern suburbs)EUR 4,231/m²
The coastal strip from Glyfada to Vouliagmeni sits inside Attica, so residency through property starts at 800,000 euro, and Vouliagmeni itself asks 7,364 euro per square metre.
- MykonosEUR 7,059/m²
Named in the golden visa law by name, so the 800,000 euro threshold applies here whatever you buy, and neighbouring Antiparos passed it in Q2 2026 at 7,600 euro per square metre.
Source: Spitogatos Price Index (SPI), average asking sale prices per m2, Q2 2026 (published July 2026, island and holiday-home breakdowns August 2026). Checked 2026-09. Asking prices, not transaction prices.
Buying costs
Costs on a €250,000 purchase
EUR 13,750 to EUR 20,000
on top of the purchase price.
- Transfer tax
- 3.09%
- FMA transfer tax 3% plus municipal surcharge = 3.09% (AADE); applies to resales and, while the 24% VAT suspension on new builds runs (extended to 31-12-2026 by Law 5246/2025), to qualifying new builds as well(2026-08)
- Registration
- 0.5 to 0.8%
- Land Registry / Hellenic Cadastre: ~0.5% proportional fee plus fixed fees per entry(2026-07)
- Legal fees
- 1 to 2%
- Customary independent lawyer fee (not mandatory by law but strongly advised for due diligence)(2026-07)
Taxes for non-residents
- Annual property tax
- ENFIA: main tax of €2-16.20 per m2 depending on zone value, adjusted for age/floor/frontage, plus supplementary tax where total objective value exceeds €500,000; typically ~0.1-0.35% of market value per year
- AADE (ENFIA, Law 4223/2013)(2026-07)
- Wealth tax for non-residents
- None
- Greece levies no net wealth tax; ENFIA is the only recurring property tax(2026-07)
- Rental income tax
- 15%
- Progressive: 15% up to €12,000, new 25% middle bracket from 1-1-2026, 35% to €35,000, 45% above; 5% flat expense deduction; same rates for non-residents(2026-07)
- Capital gains tax
- 0%
- 15% CGT for individuals is suspended through 31-12-2026 (suspension renewed annually since 2015); frequent sales can be retaxed as business income(2026-07)
- Inheritance
- Same rates for residents and non-residents: close family (Category A) is exempt up to €150,000 per heir, then 1-10% on the objective value; distant or unrelated heirs pay up to 40%
- Greek inheritance tax code (Law 2961/2001)(2026-07)
The buying process
- Can foreigners buy?
- Yes, no restrictions
- No general restrictions; Greek tax number (AFM) required; EU and non-EU buyers treated equally outside border areas(2026-07)
- Restrictions
- Non-EU buyers need prior authorisation (Ministry of Defence committee) for property in designated border areas: Evros, parts of northern Greece, the East Aegean islands, the Dodecanese incl. Rhodes (Law 1892/1990 as amended by Law 4278/2014)
- Law 1892/1990 art. 24-26(2026-07)
- Mortgage as non-resident
- Limited
- A few Greek banks (e.g. Eurobank) run non-resident programmes; documentation-heavy, rates ~4-5.5%(2026-07)
- Maximum loan to value, non-resident
- 65%
- Typical non-resident maximum 60-65% LTV (non-EU often 50-65%)(2026-07)
- Typical duration
- 8 to 12 weeks
- From accepted offer to registered deed incl. AFM, due diligence, tax clearances and notarial completion; land-registry backlogs can extend this(2026-07)
Residency & golden visa
Greece is where the demand went. Spain ended its golden visa on 3 April 2025 and Portugal removed real estate from its programme in October 2023, which leaves Greece as the largest property-backed residency route in southern Europe. The thresholds have been tiered since 1 September 2024: EUR 800,000 in Attica, Thessaloniki, Mykonos, Santorini and any island above 3,100 inhabitants, EUR 400,000 everywhere else, and in both tiers a single property of at least 120 square metres. A third route at EUR 250,000 exists but only for converting commercial premises to residential use or restoring a listed building.
There is a condition that gets left out of most marketing, and it changes the investment case completely: a property bought under the EUR 400,000 or EUR 800,000 tier may be lived in or let long-term, and may not be let short-term. Airbnb and every comparable platform are prohibited under Article 92 of Law 5100/2024. A breach is a EUR 50,000 fine per property and immediate revocation of the residence permit. If your plan was to buy a EUR 400,000 apartment, put it on a platform and cover the cost from summer bookings while holding a permit, that plan does not work in Greece.
Law 5275/2026, in force since February 2026, did not touch the thresholds. It changed the procedure: applications no longer backdate to the investment date but run from the day the residence card is issued, there is a 90-day processing guarantee, renewal grace periods are longer, and more of the submission can be done digitally. Compare the terms against the other live route in Greece versus Cyprus, where the entry price is EUR 300,000 but an income test applies.
Buying is not the same as living there. What it takes to actually move to Greece covers the visa routes, the tax position once you are resident, and what it costs.
The buying process step by step
Get a Greek tax number (AFM)
Before you can buy anything, you need an AFM, the Greek tax identification number. You obtain it at a local tax office (DOY) or let your lawyer arrange it through a power of attorney. Both EU and non-EU buyers need one, and it is also required for opening utilities contracts later.
Open a Greek bank account
A Greek bank account makes the purchase far smoother. You use it to document the transfer of funds, pay the deposit and settle taxes and fees. Banks will ask for your AFM, passport and proof of income, so gather your paperwork early.
Hire a lawyer for due diligence
A lawyer is not mandatory by law but strongly advised, and customarily costs 1% to 2% of the purchase price. Your lawyer checks the title at the land registry, verifies there are no mortgages, liens or planning violations, and confirms the seller can legally transfer the property.
Sign the preliminary agreement
Once due diligence clears, buyer and seller usually sign a preliminary agreement that fixes the price and the completion timeline, with the buyer paying a deposit. From this point the property is reserved while the notary prepares the final deed and tax clearances are collected.
Complete before the notary
The final deed must be signed before a Greek notary, whose fee runs 0.8% to 1.6% of the contract value on a sliding scale. The 3.09% transfer tax must be paid to the tax authority before signing. At completion the balance is paid and ownership formally passes.
Register at the Hellenic Cadastre
Your lawyer files the deed with the land registry or Hellenic Cadastre, which costs roughly 0.5% to 0.8% plus fixed fees. Only registration makes you the legal owner. The full journey from accepted offer to registered deed typically takes 8 to 12 weeks, though registry backlogs can stretch it.
Is Greece right for you?
Greece is the best-value transaction of the four countries here and one of the more demanding ones to execute. Transfer tax is 3.09 percent, total buying costs run 5.5 to 8 percent, there is no wealth tax, ENFIA works out at roughly 0.1 to 0.35 percent of market value a year, and capital gains tax for private sellers has been suspended through the end of 2026. Against that, financing is the weak point: only a handful of banks run non-resident programmes, loan to value tops out around 60 to 65 percent, and rates sit near 4 to 5.5 percent. Assume you are a cash buyer and treat a mortgage as a bonus.
Two other things will decide it for you. Non-EU buyers need prior Ministry of Defence authorisation for property in the designated border areas, which includes Evros, parts of northern Greece, the East Aegean islands and the Dodecanese, so Rhodes and Kos carry an approval step that Crete does not. And short-term letting is tightening independently of the golden visa rules: an AMA registration is mandatory, new registrations are banned in central Athens districts 1 to 3 through the end of 2026, Thessaloniki followed in March 2026, and fines start at EUR 20,000. Greece rewards the buyer who wants a low-tax holding and long-term letting, not a high-turnover rental business.
Frequently asked questions
Can foreigners buy property in Greece?
Yes, foreigners can buy property in Greece freely, and EU and non-EU buyers are treated equally in most of the country. The one exception: non-EU buyers need prior authorisation from a Ministry of Defence committee for property in designated border areas, including Evros, parts of northern Greece, the East Aegean islands and the Dodecanese, Rhodes included. You will need a Greek tax number (AFM) either way.
What are the total buying costs in Greece?
Expect total buying costs of roughly 5.5% to 8% on top of the purchase price. That breaks down into the 3.09% transfer tax, notary fees of 0.8% to 1.6%, land registry fees of about 0.5% to 0.8%, and a customary lawyer fee of 1% to 2%. The low transfer tax is a key reason Greece is cheaper to transact in than many neighbouring markets.
What annual property taxes will I pay in Greece?
The main annual tax is ENFIA, charged at EUR 2 to EUR 16.20 per square metre depending on the zone value and adjusted for factors like age and floor. A supplementary tax applies where your total objective value exceeds EUR 500,000. In practice ENFIA typically works out to around 0.1% to 0.35% of market value per year, and Greece levies no separate wealth tax.
Can I get a Greek mortgage as a non-resident?
Yes, but options are limited. Only a few Greek banks run non-resident programmes, the process is documentation-heavy, and rates run around 4% to 5.5%. Expect a maximum loan-to-value of about 60% to 65%, with non-EU buyers often capped at 50% to 65%, so plan for a substantial down payment.
How long does buying a property in Greece take?
Typically 8 to 12 weeks from accepted offer to registered deed. That window covers getting your AFM, the lawyer's due diligence, tax clearances, the notarial completion and cadastre registration. Land registry backlogs in some areas can extend the timeline.
Does Greece still have a golden visa?
Yes, the Greece golden visa is active, with tiered investment thresholds since 1 September 2024. You need EUR 800,000 in Attica, Thessaloniki, Mykonos, Santorini and islands with over 3,100 inhabitants, or EUR 400,000 elsewhere, in both cases a single property of at least 120 square metres. The EUR 250,000 entry level survives only for commercial-to-residential conversions and listed-building restorations. Without a visa, non-EU citizens can stay 90 days visa-free.
Can I rent out my Greek property to tourists?
Yes, but short-term rentals require registration in the national registry for an AMA number, and new registrations are banned in central Athens districts 1 to 3 through 31 December 2026, with Thessaloniki following from March 2026. Stricter safety and quality standards apply from 2026, with fines from EUR 20,000. Nationally, gross residential yields average about 4.4%, and rental income is taxed progressively starting at 15% up to EUR 12,000.
The next step
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