Greece is a country of islands, myths and incredibly blue seas. It offers a lifestyle that feels refreshingly removed from the frantic pace of northern Europe. Whether you are looking for a whitewashed house in the Cyclades, a stone villa in the Peloponnese or a city apartment in Athens, the appeal is timeless.
However, the reality of buying property here is distinct from other Mediterranean markets. The bureaucracy can be dense and the rules on residency and investment thresholds have changed significantly in the last two years.
For international buyers in 2026, the opportunity is still immense—Greece remains one of the best-value markets in Europe—but the need for professional guidance has never been greater.
This guide walks you through the essential steps of buying in Greece, from obtaining your tax number to understanding the new Golden Visa tiers. We also cover a critical financial factor: your currency exchange. You will be buying in euros, meaning your budget is exposed to market volatility. We explain how to manage that risk so you can proceed with confidence.
Can foreigners buy property in Greece?
Yes. Generally, there are no restrictions on foreigners buying property in Greece.
However, there is a specific rule for non-EU citizens (which now includes British, American and Australian buyers) looking to buy in designated “Border Areas”. This list includes parts of the Northern Aegean islands (like Lesvos and Samos), the Dodecanese (like Rhodes) and regions near the northern land borders. To buy here, you need special permission from the Greek state. This is largely a formality for bona fide buyers, but it adds time to the process.
Regardless of where you buy, your first step is to obtain an AFM (Arithmos Forologikou Mitroou). This is your tax identification number, essential for opening a bank account and signing any contract.
Visas and residency in Greece
Greece offers several routes to residency, but the landscape has shifted:
- 90/180 Day Rule: Non-EU citizens can spend up to 90 days in Greece within any rolling 180-day period without a visa.
- Golden Visa (2026 Rules): Greece has raised the investment thresholds.
- Zone A (€800,000): Applies to Attica (Athens), Thessaloniki, Mykonos, Santorini and islands with a population over 3,100.
- Zone B (€400,000): Applies to the rest of Greece.
- Exceptions (€250,000): A lower threshold remains for properties converted from commercial to residential use or for the restoration of listed buildings.
- Financially Independent Person (FIP) Visa: For retirees or those with stable passive income from abroad (approx €2,000/month for the main applicant).
- Digital Nomad Visa: For remote workers earning at least €3,500/month from outside Greece.
Why buy property in Greece?
Greece remains a compelling choice for lifestyle buyers and investors:
- Value: Despite price rises, property per square metre is often cheaper than in Spain or Portugal.
- Authenticity: Many islands remain remarkably untouched by mass development.
- Lifestyle: The Mediterranean diet, safety and climate are world-renowned.
The property-buying process in Greece
The Greek system places a huge responsibility on the lawyer.
- Make an offer: Once accepted, you usually appoint a lawyer and a notary.
- Legal Due Diligence: This is the most critical step. Your lawyer checks the Land Registry (Hypothykophylakeion) to ensure the property has clear title, no debts and no illegal extensions (a common issue in Greece).
- Sign the Pre-Contract: You pay a deposit (typically 10%) and sign a private agreement.
- Pay Transfer Tax: This must be paid to the tax office before the final contract can be signed.
- The Final Contract: Signed before a Notary Public. The deed is then registered with the Land Registry.
Costs of buying a property in Greece
Transaction costs in Greece are relatively high, but transfer tax is lower than in Spain. Budget for 8-10% on top of the purchase price.
- Transfer Tax: Currently 3.09% of the property value (or tax value, whichever is higher).
- Notary Fees: Approx 1.5% to 2% + VAT.
- Legal Fees: Approx 1% to 2% + VAT. The lawyer is liable for the title check, so this is money well spent.
- Agency Fees: Unlike in the UK, in Greece the buyer typically pays a commission too. This is usually 2% + VAT.
- Land Registry Fees: Approx 0.5% to 0.7%.
Why currency exchange is critical
You will need to send money at several stages:
- Reservation deposit
- Initial 10% deposit
- Transfer Tax payment
- Final balance
Greece uses the euro. If your funds are in pounds, dollars, yen or krone, the price of your Greek home is constantly moving.
For illustration, a €300,000 property could cost:
- £254,000 at a GBP/EUR rate of 1.18
- £267,000 at a GBP/EUR rate of 1.12
That is a difference of roughly £13,000 purely due to currency movement.
How to manage currency risk
You can reduce this uncertainty with a plan.
- Forward contract: Fix today’s exchange rate for a future payment. This is vital in Greece where the legal checks (“legalisation of arbitrary spaces”) can sometimes take months. It ensures the price you agreed to is the price you actually pay.
- Market order: If you have time before you need to buy, you can set a target rate. We will automatically buy the currency for you if the market hits that level.
Why use a specialist currency provider?
Greek bureaucracy is famous for a reason. To import funds for a property purchase, you need to follow strict procedures to ensure you can repatriate the money later if you sell. This often involves obtaining a specific “Pink Slip” or bank confirmation of capital importation.
Smart Currency Exchange ensures your funds arrive in Greece via the correct banking channels. Your dedicated account manager can guide you through the process, ensuring your money lands with the Notary or seller exactly when needed.
Making transfers on time
To keep your purchase on track, make sure you:
- Get your AFM number early.
- Ask your lawyer for the exact breakdown of Transfer Tax vs Purchase Price.
- Send funds early to allow for compliance checks, as Greek banks are strict on “Source of Funds” due to EU anti-money laundering rules.
In summary: buying property in Greece
To make your purchase smooth and secure, follow these rules:
- Hire a competent, independent lawyer to check for illegal builds.
- Budget for the buyer’s agency fee (2%).
- Protect your budget from currency volatility using a Forward Contract.
Frequently Asked Questions about buying property in Greece
Is it safe to buy property in Greece?
Yes, but illegal building extensions are common. Never sign a contract until your lawyer has confirmed the property has been “legalised” under the relevant amnesty laws.
Can I get a mortgage in Greece?
It is possible but difficult for non-residents. Greek banks are risk-averse. Many international buyers release equity from their home country instead.
Do I need a Greek bank account?
Yes. You will need one to pay utility bills and taxes. You can open one with your AFM number, but be prepared to provide translated proof of income and address.
