Popular Locations for Real Estate Investment in Greece

1. Athens

• As the capital, Athens is a hub for business, culture, and history.

• Properties here are ideal for long-term rentals and short-term tourist accommodations.

2. Santorini & Mykonos

• These iconic islands are famous for luxury tourism, offering high returns on rental properties.

• Expect higher property prices due to strong international demand.

3. Crete

• Known for its natural beauty and affordability, Crete is a great choice for families and retirees.

4. Thessaloniki:

• Greece’s second-largest city offers affordable property prices with growing appeal among young professionals and students.

5. Peloponnese and Halkidiki:

• These regions combine stunning coastal properties with relatively lower prices, attracting investors seeking value.

Top Locations & Investment Potential

How We May Assist You

Our office has extensive and specialized experience in real estate sales and leases, representing international clients—including private individuals, construction companies, real estate development, and property management firms—both out of court and before courts.

Our services include but are not limited to:

• Title verification (checking for claims, mortgages, seizures; study and registration of titles at Land Registry and Cadastral Offices).

• Assistance with preliminary real estate procedures, such as obtaining Tax Identification Numbers and preparing powers of attorney for client representation.

• Consultation during negotiation processes with sellers or buyers.

• Assistance with bank account openings and loan negotiations.

• Handling Land Registry applications and lawsuits.

• Resolving lease disputes.

• Representation during the signing of purchase contracts and other real estate transactions.

Important Requirements

Obtaining a Greek Tax Registration Number (“AFM”) is essential. Prospective investors can register either as tax foreigners or Greek tax residents. This unique number is mandatory for any real estate transaction in Greece.

After registering with the Greek Tax Authority, the AFM appears on a certificate, which must be presented to the notary public when signing the final deed.

Unlike other European markets, foreign property investors in Greece are not required to have a Greek bank account, though having one simplifies many transactions and bureaucratic procedures.

Our office can assist with obtaining an AFM and opening a Greek bank account.

The Purchase Process

After due diligence (typically 2–8 weeks), the Property Transfer Contract is signed—either by you in person or by your lawyer with power of attorney. Greek law mandates that the sale contract is drafted and signed before a notary public, usually chosen by the buyer.

The notary safeguards the transaction and remains neutral. Since 2014, a lawyer's presence during contract drafting and signing is optional but highly recommended to avoid major legal issues.

Seller’s Obligations

The seller must provide several documents, including:

• Valid identity card or passport.

• Certified copy of the planning permission if the property is a building.

• Tax clearance certificate confirming no debts to the Greek State.

• Insurance clearance certificate proving no debts to social security institutions (if an employer or construction company).

• Confirmation of submission of the relevant declaration to the Tax Office if the property was acquired via inheritance or donation.

• Confirmation from the Municipality that there is no outstanding Real Estate Duty (TAP).

• Declaration that the property has not generated income in the last five years or, if it has, a certificate from the tax office confirming income was declared.

• Declaration of the property’s inclusion in the seller’s asset inventory (form E9).

Buyer’s Obligations

The buyer must provide at least:

• Valid identity card or passport.

• Receipt of payment of the Real Estate Transfer Tax (F.M.A.) to the competent tax office or confirmation of exemption if purchasing a primary residence.

   

Purchasing Expenses

• Notary fees: Typically 0.65% - 1.2% of the contract value.

• Land Deed Registry fees: 0.475% of the contract value

• Cadastral fees: Fixed €35 per right (except parking or storage rights charged €20), plus 0.1% of property value exceeding €20,000.

Why choose our office

With over 15 years of specialization in:

• Golden Visa compliance (100% approval rate)

• Tax optimization strategies (reducing ENFIA, capital gains tax).

Full-Service Package Includes:

1. Free Property Screening with legal status verification within 72 hours.

2. Bilingual contract drafting.

3. Power of Attorney services enabling remote purchase.

Case Study:

A British client saved €50,000 by uncovering a hidden inheritance claim on a Mykonos villa before purchase.

Our Legal Services

1. Legal Due Diligence

A thorough investigation to ensure the property is free from legal encumbrances, including:

• Title search verifying ownership and existing claims.

• Zoning regulation checks to confirm permitted use.

• Verification of building permits to ensure legal construction.

2. Navigating Bureaucracy

Greek bureaucracy can be complex; our lawyers streamline processes, manage paperwork, liaise with government offices, and ensure all documentation is correct, saving time and minimizing risks.

3. Contract Negotiation and Drafting

We negotiate terms on your behalf and draft clear contracts that protect your interests, ensuring full understanding of all conditions before signing.

4. Network of Trusted Professionals

We collaborate with a network of reliable professionals:

• Real estate agents for property selection.

• Accountants for tax planning.

• Engineers and architects for inspections and renovations.

5. Overcoming Potential Challenges

• Language Barriers: We provide bilingual legal support to translate documents and facilitate communication.

• Hidden Costs and Taxes: We offer transparent breakdowns of all fees and taxes to avoid surprises.

Case Study:

John, an American buyer, avoided a costly inheritance dispute by hiring our lawyer before purchasing a vacation home on a Greek island.

Peace of Mind

Purchasing property in Greece can be complex, but with our expert guidance, the process is smooth and secure. From property selection to closing the deal, we prioritize your interests to protect your investment.