Overseas property
Articles

Mortgage in Greece for foreigners

6,360 views · Updated on
3.5–7.25%

Mortgage rate

90%

Of the property value (maximum loan)

6–30 years

Average loan term

Although the mortgage lending is legal in Greece, in practice, banks do not issue loans to local or foreign buyers of real estate. The exception is large Greek companies that have a good reputation in the market.  Sometimes buyers in the new build property market have the option for interest-free instalment payments over 1 to 5 years if at least half of the purchase price is paid.

Standard mortgage terms in Greece*

Mortgage offers from Greek banks

Maximum LTV ratio

90%

Mortgage rate

3.5–7.25% p.a.

Mortgage term

6–30 years

*As of April 2018

Two to four years after buying a property in Greece, a legal entity can apply for a mortgage to be secured by that property.

Borrower requirements

Minimum age

25 years

Maximum age at the end

of the loan term

57 years

Bank requirements

To apply for a mortgage with a Greek bank, the following documents are required:

  • Valid passport.
  • Proof of income.
    • Employees: personal income tax returns for the three previous years and a certificate of employment (on the company's letterhead) specifying the hiring date and net income after tax and insurance payment.
    • Business owners: personal income tax returns for the two previous years and tax return (or a copy) for the previous year certifying the amount of income generated by the company or the entrepreneur's property.
    • Retirees: a certificate from a tax office proving tax exempt due to retirement, a copy of the pension card and copies of pension notifications for the past three months.
  • Proof of residence (e.g. extract from the housing register, certificate from a public utility service provider or passport office).
  • Greek residence permit (if any).

All foreign-language documents must be translated into Greek and notarised. Mortgage applications usually take 4 to 12 weeks for approval.

Mortgage registration costs

Mortgage registration costs in Greece are about 1% of the loan amount.

Estimated mortgage registration costs for a property in Athens above €100,000

Application fee

€50–200

Preliminary mortgage 

 approval

€200–1,000

Mortgage 

registration fee

Up to €700

Technical property 

appraisal

Up to €1,000

Property insurance

About €240 p. a.*

Life insurance 

(optional)

From €300 p. a.**

Early repayment 

penalty

Varies based on the loan

 amount and term

*The payment amount depends on the year the property was built, its location and value.

**The exact amount depends on the borrower's age and other factors.

Greece real estate 4,610 listings on Tranio
New buy-to-let apartments and studios with yield up to 6,5%, in a quiet and clean area in central Athens for From 81,000 € From 81,000 €
New buy-to-let apartments and studios with yield up to 6,5%, in a quiet and clean area in central Athens

Completion in: 2024.IV Total of 11 apartments

New apartments for obtaining a residence permit and rental income, central area of Athens — Kato Patisia, Greece for From 121,000 € From 121,000 €
New apartments for obtaining a residence permit and rental income, central area of Athens — Kato Patisia, Greece

Built in 2024 Total of 6 apartments

New apartments for obtaining a residence permit and rental income in Gounari project, Athens, Attica, Greece for From 180,000 € From 180,000 €
New apartments for obtaining a residence permit and rental income in Gounari project, Athens, Attica, Greece

Built in 2024 Total of 17 apartments

New residential complex near a metro station and the center of Athens, Egaleo, Greece for From 72,000 € From 72,000 €
New residential complex near a metro station and the center of Athens, Egaleo, Greece

Total of 19 apartments

New residence at 350 meters from the Port of Piraeus, Greece for From 250,000 € From 250,000 €
New residence at 350 meters from the Port of Piraeus, Greece

Completion in: 2026.IV Total of 28 apartments

New low-rise residence at 200 meters from the Port of Piraeus, Greece for From 230,000 € From 230,000 €
New low-rise residence at 200 meters from the Port of Piraeus, Greece

Completion in: 2025.III Total of 59 apartments

New residence in a quiet area, close to a metro station and Liberty Square, Nikaia, Greece for From 270,000 € From 270,000 €
New residence in a quiet area, close to a metro station and Liberty Square, Nikaia, Greece

Completion in: 2025.III Total of 41 apartments

New cozy residence at 400 meters from the coast, Piraeus, Greece for From 285,000 € From 285,000 €
New cozy residence at 400 meters from the coast, Piraeus, Greece

Completion in: 2026.II Total of 7 apartments

Share the article
Subscribe not to miss new articles

We will send you a content digest not more than once a week

Subscribe
    I confirm that I have read and accept the Privacy Policy and Personal Data Processing Guidelines.
    Done!

    Tranio’s managers offer advice on buying real estate in Greece
    Yuliya Hay
    Yuliya Hay
    Real Estate Expert Tranio Europe
    +44 17 4822 0039
    Send a request
      I confirm that I have read and accept the Privacy Policy and Personal Data Processing Guidelines.
      • Residence permit support
      • Mortgage rates from 3.5%