What Are the Costs of Buying a Property in Greece?

In addition to the property price, buyers should typically allow for approximately 6%-10% in additional purchase- related costs, depending on the property type and transaction structure. These costs may include:

• Property Transfer Tax (or VAT)

• Notary Fee

  A Greek notary is required to draft and oversee the signing of the final sale contract.

• Land Registry / Cadastre Registration Fee

  The final contract must be registered at either the Land Registry (Ipothikofilakio) or the National Cadastre (Ktimatologio), depending on the property’s location.

• Legal Fee

• Real Estate Agent’s Commission

  The buyer pays a commission of 3% of the property price, plus 24% VAT, to the real estate agent assisting with the transaction.
  

What documents do I need to buy a property in Greece?

The required documentation may vary depending on residency status and the type of purchase; however, buyers will typically need:

• A valid passport or national ID

• A Greek tax number (AFM)

• A local Greek bank account is preferred (it is not always required for the purchase itself); however, buyers must provide clear documentation regarding the origin of funds used for the transaction. A local bank account may still be useful for managing property-related expenses in Greece.

• Proof of residential Address (country of residence)

• Power of attorney documentation for purchasing remotely

Additional documents may be requested by the lawyer or notary, depending on the property type and transaction structure.

What do I need to open a Greek bank account?

Banks will typically request:

• A Greek tax number (AFM)

• Proof of identity

• Proof of residential address

• Tax or income documentation

Can foreign buyers obtain a mortgage in Greece?

Yes— both EU and international buyers may apply for mortgage financing through selected Greek banks, subject to eligibility and approval requirements.

Mortgage availability, financing terms, and required documentation may vary depending on:

• Residency status

• Income and financial profile

• Property type and value

• Country of residence

Our team can connect clients with trusted banking and financial professionals to support the financing process in Greece.

Can I purchase a property remotely?

Yes— buyers may complete/start the purchase process remotely through a power of attorney arranged with a local lawyer or notary.

How long does the purchasing process take?

The timeframe varies depending on the property and transaction structure, however most purchases are completed within several weeks once documentation and due diligence are finalized.

Are annual property taxes applicable in Greece?

Yes— property owners in Greece are subject to annual property taxes, which vary depending on property type, size, and location.