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Greece
Every figure carries its source and last-checked date.
€3.200
Price per m² (capital)
5.5-8%
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) | €3.200 | Spitogatos asking-price data / Bank of Greece index (Athens average; centre ~€2,800, Kolonaki/Riviera €5,000+) |
| Price per m² (coast) | €2.650 | Greek islands average (Cyclades ~€3,900/m2, Crete ~€2,100-2,450/m2; prime Mykonos/Santorini €9,000+) |
| Price per m² (rural) | €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) |
| 5-year price trend | +62% | 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) |
| Total buying costs | 5.5-8% | |
| Gross rental yield | 4.4% | Global Property Guide, national average gross residential yield May 2026 (4.38%; Athens ~5.5%) |
| Cost of living (EU = 100) | 86 | Eurostat price level index, household final consumption expenditure, EU-27 = 100 (Greece 86.0 in 2024) |
Buying costs
Costs on a €250,000 purchase: €13.750 - €20.000
| Transfer tax | 3.09-3.09% | FMA transfer tax 3% plus municipal surcharge = 3.09% (AADE); applies to resales and to new builds while the VAT suspension runs |
| Notary | 0.8-1.6% | Notary fee incl. stamps and copies, sliding scale on contract value |
| Registration | 0.5-0.8% | Land Registry / Hellenic Cadastre: ~0.5% proportional fee plus fixed fees per entry |
| Legal | 1-2% | Customary independent lawyer fee (not mandatory by law but strongly advised for due diligence) |
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) |
| Wealth tax | - | Greece levies no net wealth tax; ENFIA is the only recurring property tax |
| 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 |
| Capital gains | 0% | 15% CGT for individuals is suspended through 31-12-2026 (suspension renewed annually since 2015); frequent sales can be retaxed as business income |
| 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) |
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 |
| Mortgage as non-resident | Limited | A few Greek banks (e.g. Eurobank) run non-resident programmes; documentation-heavy, rates ~4-5.5% |
| Typical duration | 8-12 weeks | From accepted offer to registered deed incl. AFM, due diligence, tax clearances and notarial completion; land-registry backlogs can extend this |
Residency & golden visa
Golden visa: Tiered since 1-9-2024: €800,000 in Attica, Thessaloniki, Mykonos, Santorini and islands with over 3,100 inhabitants; €400,000 elsewhere (single property of at least 120 m2 in both tiers); €250,000 only for commercial-to-residential conversions or listed-building restorations.
The buying process step by step
- 1
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.
- 2
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.
- 3
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.
- 4
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.
- 5
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.
- 6
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.
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.