Greece Real Estate FAQ for Foreign Buyers: 25 Questions Answered

Foreigners have been able to buy property in Greece for decades, but the rules around Golden Visa thresholds, short-term rental registration, ENFIA tax, and border-area approvals have all moved in the past two years. Below are the 25 questions foreign buyers actually ask, with direct answers and the relevant Greek law for each.

Can foreigners buy property in Greece?

Yes. Both EU and non-EU citizens can buy real estate in Greece in their personal name. EU and EEA nationals are treated the same as Greek citizens. Non-EU buyers face an extra approval step only in designated border areas (Article 26 of Law 1892/1990).

What is a border area in Greece?

Border areas (paramethorios) are zones near land borders and on certain frontier islands, including parts of the Dodecanese, the northeastern Aegean islands, Evros, Florina, Kastoria, Pella, Drama, Thesprotia, Xanthi, Rhodope, and Lesvos. Under Law 1892/1990 a non-EU buyer must apply to the local Decentralized Administration for a derogation that lifts the prohibition before purchase.

Do I need a Greek tax number to buy property?

Yes. Every foreign buyer needs an AFM (Arithmos Forologikou Mitroou), the Greek tax identification number issued by the local tax office (DOY). You can obtain an AFM in person or through a tax representative (forologikos antiprosopos) with a power of attorney.

Do I need a Greek bank account to buy property?

In practice yes. Greek law requires that the purchase price be paid through traceable banking channels under anti-money-laundering rules in Law 4557/2018, and the notary verifies the funds source. Most buyers open a Greek bank account to wire the price and pay taxes, though a foreign IBAN can be used if the funds trail is documented.

What is the Greek Golden Visa investment threshold in 2026?

The minimum investment for the residency-by-investment program is now tiered by zone under Law 5100/2024. The threshold is 800,000 EUR for properties in Attica (greater Athens), Thessaloniki, Mykonos, Santorini, and islands with more than 3,100 inhabitants. The threshold is 400,000 EUR in the rest of Greece, and 250,000 EUR for restoration of listed buildings or conversion of commercial property to residential use.

When did the Greek Golden Visa price change?

The new tiered thresholds took effect on September 1, 2024 under Law 5100/2024. The previous 250,000 EUR national minimum, set in 2013, was raised in stages from August 2023 and locked in at the current zonal levels in 2024. Applications filed before the deadlines were grandfathered under the prior thresholds.

Does the Greek Golden Visa give me citizenship?

No. The Golden Visa grants a five-year renewable residence permit (adeia diamonis ependyti) to the investor, spouse, children under 21, and parents of both spouses. It does not grant Greek citizenship. Citizenship in Greece requires seven years of legal residence and Greek language proficiency under the Citizenship Code (Law 3284/2004 as amended).

Can I rent out my Golden Visa property?

Long-term rentals are allowed. Short-term rentals through platforms like Airbnb are not allowed for properties acquired as part of a Golden Visa investment under the amendments to Law 4251/2014 introduced in 2024. Renting short term can lead to revocation of the residence permit and a fine of up to 50,000 EUR.

What is a notary's role in a Greek property purchase?

The notary (symvolaiografos) drafts and signs the purchase deed (symvolaio agorapolisias) under Law 2830/2000. The deed is signed by buyer and seller in front of the notary, registered at the local Land Registry or Cadastre, and is the legal instrument transferring ownership. Notary fees follow a regulated schedule starting at 0.80 percent of the price.

What is the Greek Land Registry and Cadastre?

Greece is transitioning from the historical Mortgage Registry (Ypothikofilakeio) to the National Cadastre (Ktimatologio), a parcel-based registry administered by Hellenic Cadastre SA under Law 2664/1998. Most urban areas are already fully cadastrated. Buyers should verify whether the property's area has completed the transition, since the registration step and search procedures differ.

What is the transfer tax on property in Greece?

The real estate transfer tax (Foros Metavivasis Akiniton) is 3 percent of the higher of contract price or objective tax value (antikeimeniki axia). The tax is paid by the buyer before the notarial deed is signed. A 3 percent municipal surcharge applies to the transfer tax itself, bringing the effective rate to 3.09 percent.

When does VAT apply to a Greek property purchase?

VAT at 24 percent applies to new-build first sales by a developer where the building permit was issued after January 1, 2006, in place of the 3 percent transfer tax. The VAT on new residential property is suspended until December 31, 2026, under Law 4646/2019 and subsequent extensions, so new-build sales currently fall back to the 3 percent transfer tax regime.

What is the ENFIA property tax?

ENFIA (Eniaios Foros Idioktisias Akiniton) is the annual property tax under Law 4223/2013. It has a main tax based on building characteristics and a supplementary tax for portfolios above 400,000 EUR. Typical residential ENFIA is between 200 EUR and 1,500 EUR per property per year depending on zone, size, age, and floor.

How is rental income from Greek property taxed?

Residential rental income is taxed at a progressive scale under Article 39 of the Income Tax Code (Law 4172/2013). The rates for 2026 are 15 percent up to 12,000 EUR, 35 percent from 12,001 to 35,000 EUR, and 45 percent above 35,000 EUR. A 5 percent deduction for expenses is allowed without documentation.

Is short-term rental income taxed differently?

Short-term rental income (Airbnb and similar) is taxed at the same progressive rates as long-term rental income if the owner rents up to two properties. Beyond two properties, the activity is reclassified as a business and triggers a different tax regime under the 2024 amendments to Law 4646/2019.

Do I need to register a short-term rental in Greece?

Yes. Every short-term rental property must be registered in the Property Short-Term Rental Registry (Mitroo Akiniton Vrachychronias Diamonis) maintained by the Independent Authority for Public Revenue (AADE). The owner is issued a registration number (Arithmos Mitroou Akiniton) that must appear in every online listing under Article 111 of Law 4446/2016.

Are there limits on short-term rentals in Athens?

Yes. Since January 2025, new short-term rental registrations are paused in the first, second, and third districts of central Athens, including Plaka, Koukaki, Pagrati, Kolonaki, and Exarcheia, under Ministerial Decision 134453/2024. Existing registrations were grandfathered. The measure is reviewed each year.

What capital gains tax applies when I sell a Greek property?

Capital gains tax on private property sales is currently suspended until December 31, 2026 under Article 41 of the Income Tax Code. When in force, the rate is 15 percent on the net gain, with a 25,000 EUR exemption and a reduction coefficient based on years of ownership.

Can foreigners inherit Greek property?

Yes. The EU Succession Regulation 650/2012 applies in Greece, so for deaths after August 17, 2015, the default succession law is the law of the deceased's last habitual residence, with the option to choose the law of nationality in the will. Greek inheritance tax applies regardless, with rates of 1 to 10 percent between parents, children, and spouses, and higher rates outside the immediate family.

How long does a typical Greek property purchase take?

From signed offer to deed registration, a typical transaction in 2026 takes six to twelve weeks. The slowest steps are getting the AFM if you do not already have one, opening a Greek bank account, obtaining the engineer's certificate that confirms there are no illegal building additions (vevaiosi michanikou), and securing the tax clearance certificates the notary needs.

What is the engineer's certificate?

The engineer's certificate (vevaiosi michanikou) is a written statement under Law 4495/2017 in which a licensed civil engineer confirms that the property has no unauthorized construction or that any unauthorized construction has been legalized. The notary cannot finalize the deed without this certificate, and the seller is responsible for obtaining it.

Are unauthorized buildings (afthereta) a deal breaker?

Not necessarily. Many Greek properties carry minor unauthorized additions, which can be legalized through the regularization framework in Law 4495/2017 and previous amnesty laws (Law 4178/2013, Law 4014/2011). The legalization is recorded with the engineer's certificate. Buyers should price in legalization costs and verify that the fine has been paid before signing.

Can I get a mortgage in Greece as a foreigner?

Yes, but with conditions. Greek banks lend to foreign buyers up to 60 or 70 percent of the lower of contract price or appraised value, with documented income, life insurance, and a Greek bank account. Interest rates in 2026 are typically Euribor plus 1.5 to 3 percent margin, depending on the bank and the borrower's profile.

What does a real estate lawyer do in Greece?

A lawyer (dikigoros) performs the title search at the Mortgage Registry or Cadastre, reviews the engineer's certificate, drafts and negotiates the private agreement (idiotiko symfonitiko), confirms ENFIA and tax clearances, and represents the buyer at the deed signing. Lawyer fees are no longer fixed by the bar; expect 1 to 1.5 percent of the price plus VAT.

How do I verify a Greek developer before buying off-plan?

Check the developer's commercial registry record (GEMI), the building permit (oikodomiki adeia) at the local Urban Planning Authority (Poleodomia), the construction insurance, the prior project handover history, and the bank guarantee securing the deposit. Bektu maintains developer track records that combine corporate filings, project completion history, and title transfer outcomes for Greek projects.