Buying Property in Greece for Foreigners in 2026

To purchase property in Greece, investors are required to visit the country only once. The purchase procedure has four simple steps.

Choose a property and prepare documents

The buyer considers their criteria for the property and prepares documents to open an account with a Greek bank. One cannot open a bank account remotely, the client should attend the bank in person. 

The buyer can buy a property without a Greek bank account, but this account is necessary to receive rental revenue and pay for maintenance expenses.

Documents required to open a Greek bank account:

• A valid passport + a copy;
• Proof of the applicant’s income, i.e. tax returns, documentary proof of inheritance, dividends, rental income or income from a property sale;
• Letter of employment;
• A copy of any utility bill to prove the applicant’s address;
• A certificate to prove the applicant has a registered telephone number;
• The applicant’s bank account statements.

All documents should be translated into Greek and English. 

Make a final decision and open a bank account

If possible, the buyer comes to Athens to choose a real estate object, although it is possible to buy a property in Greece remotely. In such a case, the buyer uses their own bank account from outside Greece to pay for the purchase. The investor can open a Greek bank account later. 

It takes 1 day to open a Greek bank account if the client has submitted the documents in advance and the bank has previously confirmed the possibility to open an account. 

Sign a preliminary purchase agreement

Before signing a preliminary purchase agreement, the buyer hires a lawyer who checks the seller’s ownership certificate and the mortgage registry to find out whether the property has any encumbrances and tax arrears. It takes no longer than 1–2 business days.

While the lawyer is verifying documents, the buyer and seller sign a preliminary purchase agreement and the buyer puts down a deposit of about 10% of the property price.

Then the notary prepares the purchase agreement. This stage takes from 2 weeks to 1 month. 

Close the deal

When the purchase agreement is ready, the buyer signs it and transfers the money to the seller’s bank account. The investor can either do this in Greece or issue a power of attorney for a lawyer who will sign the purchase agreement on behalf of the buyer. A notary must certify the signing of the agreement. Notary fees are 1.86%.

Once the full amount has been credited to the seller's account, a deed of settlement is signed. On the basis of the purchase agreement and the deed, the lawyer can immediately apply for a residence permit.

It takes 1–3 months for the transaction to be recorded in the land registry office, and for the property to be registered in the Cadastre. This is a formality, these documents are not required for the residence permit.

Greece has suspended VAT on qualifying new-build property sales until 31 December 2026 at the developer's request. Property transfer tax applies to sales covered by the suspension.

For the property that was built before 2006, there is only the asset tax 3.09%. 

The buyer must also pay the registration charge that is 0.475% to 0.775% of the transaction value.

Cost of buying a property in Greece

• asset transfer tax — 3.09% of the property cost;
• the registration charge — 0.475 to 0.775% of the transaction value;
• notary fees — 1.86% (1.5 % of the transaction value + VAT);
• lawyer fees — 1.86% (1.5 % of the transaction value + VAT);
• in some cases: agent fees — 2.48% (2 % of the transaction value + VAT). 

When buying Tranio's own projects, no brokerage commission is payable.

Total: from 7.91 to 10.21%

In Greece, buying a property worth €250,000 or more can qualify an investor for a Greek residence permit if it is converted from commercial to residential use or is a protected historic building undergoing restoration. The permit usually takes about 3 to 6 months to obtain.