Can Foreigners Own Property in Greece? The 2026 Legal Guide

Can Foreigners Own Property in Greece? The 2026 Legal Guide

The short answer: yes, foreigners can own property in Greece with full freehold title. Greece does not restrict property ownership based on nationality for most of the country. But the process involves specific legal requirements, a tax registration system, and one significant geographic exception that trips up many buyers. Here is what the law actually says.

The Legal Basis for Foreign Ownership

Greek property law is codified in the Greek Civil Code (Astikos Kodikas), specifically Articles 947-1345 covering property rights. EU and EEA nationals have unrestricted property rights identical to Greek citizens throughout the country, guaranteed under EU Treaty freedoms of establishment and capital movement.

Non-EU nationals also have full ownership rights in most of Greece, but with one major exception: border regions. Article 26 of Law 1892/1990, as amended, restricts property acquisition by non-EU citizens in areas designated as border zones. This affects parts of Thrace (Evros, Rodopi, Xanthi), several Aegean islands close to Turkey, and parts of northern Greece near the Albanian, North Macedonian, and Bulgarian borders.

To purchase property in a border area as a non-EU citizen, you need special permission from the Ministry of National Defense. This process can take 6-12 months with no guarantee of approval. The restriction does not apply to EU/EEA citizens. A full list of restricted municipalities is maintained by the Ministry of National Defense and updated periodically.

The eastern Aegean islands most often affected are Lesbos, Chios, and Samos, along with parts of the Dodecanese. Athens, Thessaloniki, the Peloponnese, most of Crete, Mykonos, Santorini, Corfu, and Zakynthos all sit outside the restricted zones, which covers where most foreign demand actually is.

The AFM Tax Number: Your First Step

Before you can do anything in Greece involving money, including buying property, opening a bank account, or signing a utility contract, you need a Greek tax identification number called the AFM (Arithmos Forologikou Mitroou). This is issued by the local tax office (DOY, or Dimosia Oikonomiki Ypiresia).

The process for obtaining an AFM as a foreign national requires the following: your passport (original plus certified copy), a completed M1 tax registration form, and in most cases, an appointment of a Greek tax representative if you are a non-EU resident who will not be living in Greece. The tax representative (forologikos antiprosopos) is a Greek tax resident, usually your lawyer, who receives tax notices on your behalf.

You can apply for the AFM in person at any DOY, or your authorized lawyer can do it with a power of attorney. The Athens DOY for foreign residents is located at Mesogeion 4, Athens. Processing typically takes 1-3 business days. There is no fee for obtaining the AFM itself.

The AFM is a nine-digit number, issued once and valid for life. Alongside the M1 form, the DOY will usually also want Form M7 (the appointment of the tax representative) and proof of address in your home country, such as a utility bill or bank statement. Applications filed through a representative rather than in person can take up to two weeks.

The AFM registration process is governed by Circular POL 1006/2014 issued by the Independent Authority for Public Revenue (AADE). Since 2020, Greece has also been rolling out the digital tax registration system through myAADE, though in-person registration remains the most reliable route for first-time foreign applicants.

The Golden Visa Investment Thresholds

Greece's Golden Visa program, established by Law 4251/2014 (Immigration and Social Integration Code) and significantly amended by Law 5007/2022 and subsequent ministerial decisions, grants five-year renewable residence permits to non-EU nationals who invest in Greek real estate.

As of 2024 (with amendments taking full effect by September 2024), the investment thresholds are split by geography:

€250,000 minimum applies in most of Greece, including the Peloponnese, Central Greece, most of the islands, and northern Greece (excluding Thessaloniki municipality).

€500,000 minimum applies in high-demand areas designated by Joint Ministerial Decision 3810/2023: the Attica region (Athens and surrounding municipalities), Thessaloniki municipality, Mykonos, and Santorini.

The investment must be in a single property (not split across multiple properties) in the high-threshold zones. In the €250,000 zones, a single property is also required per the latest amendments, though this rule has seen interpretation variations. The property must be purchased from the seller at the listed price with payment traced through the Greek banking system.

The Golden Visa does not grant work rights in Greece, but it does provide Schengen-zone travel rights. Family members (spouse and children under 21) are included. The permit is renewed every five years as long as the property investment is maintained. Full program details are on the Ministry of Migration website.

Two conditions catch buyers late. Property acquired under the Golden Visa cannot be placed on short-term rental platforms such as Airbnb or Booking.com under the current rules, which removes the income model many investors assume they are buying into. After five years, the holder can move toward permanent residency rather than simply renewing again.

The Notarial System

Every property transaction in Greece must be executed before a Greek notary (symvolaografos). The notary is not an optional convenience; the notarial deed (symvolaio) is the only legally valid instrument for transferring property ownership under Article 369 of the Greek Civil Code.

The notary's role includes verifying the seller's title, confirming there are no encumbrances or liens, ensuring all taxes have been paid, reading the deed aloud to both parties (with a certified translator present if either party does not speak Greek), and filing the deed with the Land Registry.

Notary fees are regulated by Presidential Decree 16/2014 and are calculated as a percentage of the declared property value: approximately 0.65-1.0% of the property price, though this varies depending on the value bracket. The notary fee schedule is published by the Notarial Association of Greece.

Property Registration: Ktimatologio vs. Ypothikofilakio

Greece is in the middle of a decades-long transition from the old mortgage registry system (Ypothikofilakio) to a modern cadastral system (Ktimatologio). As of 2026, the Ktimatologio covers most urban areas and many rural areas, but the transition is not yet complete nationwide.

The National Cadastre and Mapping Agency (Ktimatologio S.A.) manages the new system. Properties registered in the Ktimatologio have a unique cadastral number (KAEK) that links to a map showing exact boundaries. This is significantly more reliable than the old system, which relied on written descriptions rather than mapped boundaries.

For foreign buyers, the practical implication is: always confirm whether the property you are buying is registered in the Ktimatologio or the old Ypothikofilakio. If it is in the old system, your lawyer should conduct more extensive title searches going back at least 20 years (the usucaption period under Greek law). If it is in the Ktimatologio, the cadastral record provides stronger title evidence, though it is not absolutely conclusive.

Taxes on Property Purchase

The main taxes and costs when buying property in Greece include the following.

Transfer Tax (FMA): 3.09% of the property's assessed value (objective value or contract price, whichever is higher), paid before the notarial deed is signed. Governed by Law 1587/1950 as amended. Note: new-build properties subject to VAT are exempt from transfer tax.

VAT on New Properties: 24% on properties with building permits issued after January 1, 2006. However, a suspension of VAT on new residential properties has been in effect since 2019 and has been extended multiple times. Check with AADE for the current status, as this suspension is reviewed annually.

Legal Fees: Typically 1-2% of the purchase price for your lawyer.

Notary Fees: Approximately 0.65-1.0% as noted above.

Land Registry Fees: Approximately 0.475% for Ktimatologio registration or 0.475-0.575% for Ypothikofilakio.

Real Estate Agent Fees: Typically 2% plus VAT (24%), paid by the buyer, though this is negotiable.

Total transaction costs for a foreign buyer typically range from 8-12% of the purchase price, depending on the specifics.

Source of funds scrutiny

Greece has aligned its domestic rules with the EU's Sixth Anti-Money Laundering Directive and the incoming 2026 standards of the EU Anti-Money Laundering Authority (AMLA). In practice that means three things. Cash payments are prohibited for real estate transactions. All purchase funds must originate from a bank account in the buyer's own name and move through the official banking system. Both the notary and the receiving bank will ask for documentation proving where the money came from, typically bank statements, tax returns, employment contracts, or business ownership records. Assemble that file before you sign, not at the notary's desk.

Annual Property Taxes

Once you own property in Greece, you will pay the annual Unified Property Tax (ENFIA) established by Law 4223/2013. ENFIA consists of a principal tax calculated based on property characteristics (location, size, age, floor, etc.) and a supplementary tax for properties valued above €250,000.

ENFIA bills are issued annually through the Taxisnet system and can be paid in installments. The tax is calculated using objective property values set by the Ministry of Finance, which may differ significantly from market values. ENFIA rates and zone values are updated periodically; the most recent valuations are from 2024.

As a benchmark, a two-bedroom Athens apartment worth around €200,000 attracts roughly €400 to €800 of ENFIA per year, with the supplementary tax pushing higher-value properties well above that. Unpaid ENFIA attaches to the property rather than to the previous owner, which is why your lawyer has to confirm tax clearance before completion.

Power of Attorney

Many foreign buyers cannot be present in Greece for every step of the process. Greek law allows you to grant a power of attorney (pliresousio) to your Greek lawyer, authorizing them to act on your behalf for the purchase. This power of attorney must be notarized.

If you execute the power of attorney outside Greece, it must be apostilled under the Hague Apostille Convention (Greece is a signatory). Some countries also require consular legalization. The power of attorney should be specific (not general), listing exactly which property and which actions the lawyer is authorized to perform.

Common Legal Pitfalls

Several legal issues frequently affect foreign buyers in Greece. Properties may have unresolved inheritance disputes, particularly in rural and island areas where family ownership stretches back generations without formal probate. Unauthorized construction (afthereta) is widespread; the Ministry of Environment has run multiple regularization programs, but buyers should verify that any regularization (taktopisi) under Laws 4014/2011 or 4178/2013 has been properly completed.

Forest land (dasikos chartis) designations can retroactively affect buildability. The Forest Maps (Dasikoi Chartes) published by the Ktimatologio should be checked for any property purchase, especially outside urban cores.

For independent verification of property information and developer backgrounds in Greece, Bektu maintains a database of listings with due diligence data for foreign buyers.

Bottom Line

Foreigners can and do buy property across most of Greece with full ownership rights equivalent to Greek citizens. The process requires a Greek AFM, a Greek lawyer, a notarial deed, and registration with the land registry. Border zone restrictions are the main legal barrier for non-EU buyers. The Golden Visa offers a residence pathway but comes with higher minimum thresholds in Athens, Thessaloniki, Mykonos, and Santorini since 2024. Total transaction costs typically run 8-12% above the purchase price.