Property in Greece 2026: How a Foreigner Can Buy, Prices, Taxes, Residency

Property in Greece 2026: what to understand at the start

Greece is a member of the European Union and the Schengen area, with the euro as its currency. For a buyer this means clear rules, protected property rights and a register you can rely on. The housing market here is liquid and growing: according to property portals, the average price nationwide in March 2026 was around 2,700 euros per square metre, up roughly 6-7% over the year. This is not a speculative bubble but steady demand, fuelled by tourism, relocation and investors from around the world.

The main thing to grasp from the start is that a foreigner in Greece buys property on virtually the same terms as a local resident. There is no requirement to obtain citizenship, no obligation to live in the country, and no limit on the number of properties. The only real restriction is the border zones (covered in a separate section below), where the transaction goes through the permission of a special committee.

Buying property in Greece comes down to two motivations, and the whole strategy depends on which one applies. The first is to buy for yourself: a house by the sea, a holiday apartment, a rental property. The second is to buy in a way that turns the investment into a residence permit. Greece has connected these two worlds through the Golden Visa programme: an investment in property above a certain threshold becomes a five-year residence permit for the whole family. So even if you are currently thinking only about square metres, it is worth estimating from the outset whether you fall just short of the visa threshold - in which case the purchase solves two objectives at once.

In this hub overview we give the overall map: the process, prices, taxes and the bridge to residency. For each major block there is a separate detailed article, which we link to throughout the text.

Can a foreigner, and a Russian citizen, buy a home in Greece

The short answer is yes. Greek law places no restrictions on foreigners owning residential property. A citizen of any country - the EU, the US, Turkey, the CIS states - can buy an apartment or a house, register it in their own name or in the name of their company, own it indefinitely, and sell, gift or bequeath it. No visa or residence permit is required for the purchase itself: the transaction can even be completed remotely, by power of attorney.

A separate word on Russian buyers, since this is the most common question. Property in Greece is available to Russians, and the sanctions do not impose a direct ban on an individual buying a home for personal use. But there are two practical points that cannot be ignored:

• Entry. For short trips a Russian citizen needs a Schengen visa - issued more strictly since 2022, with multiple-entry visas restricted. For long-term residence, a national D visa or a residence permit is obtained.
• Source-of-funds compliance. Greek banks and notaries carefully check the origin of the money. You need to show transparently where the funds come from: the sale of assets, salary, dividends, inheritance - with documents and, where necessary, translations and apostilles. This is not an obstacle but a normal procedure to be prepared for in advance.

We handle transactions for Russian buyers strictly legally, without circumventing sanctions: we help gather the source-of-funds evidence in advance so the bank does not block the payment and the notary can complete the transaction smoothly. A detailed breakdown of all the nuances is in the article on property in Greece for Russian buyers.

How to buy property in Greece: the process step by step

Buying property in Greece is a formalised procedure involving a notary, and therein lies its strength: every step protects the buyer. Let us walk through the whole path from the first look at a property to the entry in the register.

• Obtaining the AFM (tax number). Without a Greek AFM tax number the transaction is impossible - it is required both to open a bank account and to sign the deed. It is issued by the tax office, usually by power of attorney through a lawyer, at the start of the process.
• Opening a bank account in Greece. Payment passes through it and the legality of the funds is recorded. At this stage the bank requests documents on the source of the money.
• Property due diligence. The lawyer checks the cleanliness of the title, the absence of debts and encumbrances, the legality of the buildings and the Cadastre extracts (Hellenic Cadastre). This is the key stage - it is here that problematic properties are weeded out.
• Preliminary contract and deposit. The parties fix the price and terms, and the buyer pays a deposit (usually 10%). The property is taken off the market.
• The notarial transaction. The main deed: the notary draws up and certifies the sale and purchase contract, verifies payment of the tax and the signatures of the parties. The transaction becomes legally binding.
• Registration in the Cadastre/register. Ownership transfers in full only once the deed is entered in the Land Registry or the Cadastre. The notary files the documents electronically, including the property's Electronic Building Identity.

In terms of timing, a realistic benchmark is 8-12 weeks from an accepted offer to the final contract. Haste is harmful here: it is better to spend the time on due diligence than to deal with encumbrances later.

Purchase stages, timelines and costs: a table

To see the whole picture in money and time, we bring the process together in a single table. The figures for associated costs are indicative; the final amount depends on the price of the property and the region. Overall, all costs on top of the property price (tax, notary, registration, lawyer, agent) come to 7-10% of the price.

This table is the financial framework of the transaction. Before buying, it makes sense to build a budget with a margin for these 7-10%, so they don't come as a surprise at the notary stage.

Transaction conditions: AFM, bank account, notary and border zones

Let us bring together the conditions without which the transaction cannot go ahead. This is the minimum checked for any foreign buyer.

• AFM tax number - mandatory. A buyer who arrives at signing without a valid AFM cannot complete the transaction. It is obtained at the start of the process.
• A bank account and transparent funds - payment is made by bank transfer and the origin of the money is documented. For citizens of countries subject to enhanced compliance (including Russia), this point is central.
• Notary and lawyer - the notary certifies the transaction, the lawyer protects the buyer's interests during due diligence. In Greece these are separate roles, and having your own lawyer is highly advisable.
• Border zones. In a number of border and island territories (close to borders or strategically sensitive), a foreigner from a non-EU country must obtain permission from a special committee (the decentralized administration). This is not a ban but an additional procedure: an application is submitted setting out the purpose of the purchase, and the review takes time. A lawyer checks in advance whether the property falls within such a zone.

When the purchase is made with an investor residence permit in mind, the requirements of the Golden Visa programme are added to these conditions - covered in the following sections. If you plan not merely to own but to stay in Greece long-term, it makes sense to structure the transaction around the visa threshold from the start.

Taxes at purchase: 3.09% transfer tax and VAT on new-builds

One of the most common questions is how much tax is paid at purchase. Let us go through it in order, because there is an important nuance with new-builds.

• Property transfer tax - 3.09%. The base rate is 3% plus a municipal surcharge of 0.09%, giving 3.09% of the assessed (objective) value of the property. It is paid by the buyer before the notarial deed. This is the main transaction tax on the resale market.
• VAT on new-builds is 24%, but suspended. For new properties (with a building permit issued after 2006), 24% VAT formally applies instead of the transfer tax. However, VAT on new-build property in Greece has been suspended - and this suspension has been extended until the end of 2026. In practice this means that when buying a new-build while the suspension is in force, the buyer pays only 3.09%, not 24%. If, however, the property is delivered after the suspension expires and it has not been extended, full VAT may apply - this point must always be confirmed for the specific property.

The difference is enormous: 3.09% versus 24% is a different order of money. So when choosing a new-build, always confirm the tax regime of the specific property with the developer and the lawyer. A full breakdown of all the rates is in the article on property taxes in Greece.

Ownership taxes: ENFIA and running costs

Once they have bought property, the owner pays an annual tax - ENFIA (the unified property tax). This is the central recurring payment for all owners, citizens and foreigners alike.

How ENFIA works:

• Calculation basis - the size, location (zone value), age, floor and other characteristics of the property. For buildings the rate is roughly 2 to 16+ euros per square metre; for land it is markedly lower.
• Municipal levy - a local tax is added to ENFIA, usually included in the electricity bills.
• Reliefs 2026-2027. The state is easing the burden on housing in small settlements: ENFIA on a primary home in villages with a population under 1,500 is reduced by 50% in 2026, and from 2027 it is abolished altogether for such homes.

In addition to ENFIA, the owner bears the usual running costs: utilities, maintenance of the house or complex (if there is a management company), and insurance. For rented properties, income tax on rental income is added. All these figures are worth calculating in advance, so you understand the real cost of ownership and not just the purchase price.

Buying property and residency: the bridge to the Golden Visa

Here is the key link that draws many people to Greece. Buying property above a certain threshold grants the Golden Visa - a residence permit by investment for 5 years, renewable, for the whole family (spouse, children, parents of both spouses). It is a legal way to stay in Greece long-term without being tied to employment or study.

The 2026 property investment thresholds have three levels:

• 250,000 euros - only for special cases: converting a commercial property into residential or restoring an architectural landmark. The lowest entry point, but with restrictions on the type of property.
• 400,000 euros - the standard threshold for most regions of Greece.
• 800,000 euros - premium zones: Attica (including Athens and the Athenian Riviera), Thessaloniki, Mykonos, Santorini and islands with a population over 3,100.

Key conditions of the programme: the investment must be in a single property of at least 120 m2 (the one-transaction/one-property rule has applied since 2024). Short-term rental of such a property (Airbnb) is prohibited on pain of revocation of the residence permit and a fine. Almost no minimum presence in the country is required to maintain the status - convenient for those not ready to relocate right away.

If your goal is not only to own a home but also to obtain a European residence permit, it makes sense to plan the purchase around the relevant threshold from the outset. A full breakdown of the programme, the options (besides property there is capital, shares, government bonds and a deposit) and the path to permanent residence and citizenship is in the guide Greece Golden Visa.

From residence permit to permanent residence and citizenship: where the purchase leads

Buying property with a Golden Visa is not the end but the beginning of the journey to European status. It helps to see the whole ladder from the outset, even if for now you are thinking only about an apartment.

• Investor residence permit (Golden Visa) - the first level: a residence permit for 5 years, renewable as long as the investment is maintained. It grants the right to live in Greece, move freely within Schengen and bring the family.
• Permanent residence. After five years of legal residence you can apply for EU long-term resident status - but this requires genuinely living in the country, not merely holding a residence permit.
• Citizenship. Naturalisation in Greece is possible after roughly 7 years of legal residence, with a Greek language exam and a test on history and culture (Panhellenic), and requires genuine presence in the country. A Greek passport is full EU citizenship, and dual citizenship is permitted.

The key fork is that the Golden Visa requires almost no physical presence in the country and suits those who want a European base without relocating. Permanent residence and citizenship, on the other hand, require genuine residency. That is why the strategy should be chosen at the outset: if the goal is an EU passport, the purchase and relocation are planned differently than when buying for investment and freedom of movement. For a detailed look at investor status, see the guide Greece Golden Visa.

Common mistakes foreigners make when buying a home in Greece

Over the years of practice, a list of typical mistakes that cost buyers dearly builds up. Let us list the main ones so you can avoid them.

• Buying without a lawyer, only through the seller's agent. The agent represents the seller's interests. Your own independent lawyer for the title check is not a luxury but protection against encumbrances and illegal buildings.
• Ignoring the legality of the buildings. Unregistered extensions and unauthorised construction are common in Greece. Buying such a property means future fines and problems reselling. A Cadastre check is essential.
• Underestimating the associated costs. The 7-10% on top of the price (tax, notary, registration, lawyer) often comes as an unpleasant surprise. The budget must be calculated with these included.
• Confusing new-builds and VAT. Without confirming the tax regime of a new-build, you can end up facing 24% VAT instead of 3.09%. Always check the suspension status for the specific property.
• Buying for the Golden Visa without checking the threshold. Buying for 400,000 in a premium zone where the threshold is 800,000 means not getting the residence permit. The region and the threshold are checked before the transaction.
• Weak source-of-funds preparation. For any buyer, being unable to prove the origin of the money leads to the payment being blocked. The documents are prepared in advance.

Most of these mistakes are eliminated at the planning stage. The earlier the transaction strategy is built, the fewer the risks and overpayments.

An expert's view: what to look at before the deal

When a client comes to me thinking about buying a house in Greece, the first conversation is almost never about the property itself - it's about the goal and about the money. The goal defines the strategy: if someone simply wants a holiday home, we look at liquidity and the cost of ownership; if they want to stay in Europe, we immediately structure the purchase around the Golden Visa threshold, so a single acquisition solves two objectives at once. And the money is a matter of compliance: a Greek bank and notary are required to see a transparent source of funds, and for buyers from Russia this is the most sensitive part. I always ask clients to prepare the supporting evidence in advance - asset sale agreements, statements, proof of income - so that the payment doesn't get held up. And the third thing I always insist on is an independent legal review of the title and the legality of the buildings. In Greece you come across properties with unregistered extensions or breaches of the coastal zone, and an attractive price on such a house is a future headache. A smooth transaction starts not with viewing villas, but with checking the paperwork.

Property prices in Greece 2026: by region and city

The spread of prices in Greece is huge - from the relatively affordable mainland to the premium islands, where a square metre costs as much as in the centre of a Western European capital. Below are benchmarks based on market portals for early-to-mid 2026 (these are asking prices, i.e. what sellers request; the actual sale is often slightly lower).

• Central Athens - roughly 2,900-4,000 euros/m2. Southern districts of Athens are more expensive (over 4,000 euros/m2), the northern ones around 3,300 euros/m2. Growth of 6-7% over the year.
• The Athenian Riviera - premium coastline, 4,250-12,000 euros/m2 depending on the sea line and the project.
• Thessaloniki - one of the most dynamic markets, around 2,300-3,000 euros/m2, and ~2,600 euros/m2 in the city itself, with annual growth of nearly 9-10%.
• Crete - an affordable and popular island, roughly ~2,100 euros/m2 on average across the island, higher in the tourist resort areas.
• Premium islands - Mykonos 7,500-12,000 euros/m2, Santorini 4,500-7,500 euros/m2. This is the market of luxury villas and view properties.

Besides these, Rhodes, Corfu and Halkidiki are popular - resort destinations with strong demand for homes by the sea. Prices depend heavily on proximity to the water, the condition of the property (new-build or resale) and the infrastructure. A detailed breakdown by city and trend is in the article property prices in Greece 2026, and for an in-depth look at the capital, see the review property in Athens.

Property in Greece by the sea: what to consider

Most foreigners come to Greece specifically for a house or apartment by the sea - and this is the most emotional, and therefore the riskiest, segment. It is easy here to overpay or to buy a property with problems. A few practical pointers.

• The seafront line is more expensive and more tightly regulated. The coastal zone in Greece has a special status: there is a strip belonging to the state where construction is prohibited or restricted. A lawyer always checks whether a building encroaches on the shoreline (aigialos).
• Islands versus the mainland. On the islands prices, seasonality and logistics are higher (building materials, repairs and management cost more), but so is the summer rental potential. The mainland coast (Halkidiki, the Peloponnese) is often more practical for permanent living.
• New-build or resale. New-builds with a view sold directly by the developer more often qualify for the Golden Visa without issue and come with a warranty; resale property by the sea may be cheaper but requires a thorough check of the legality of the buildings and extensions.
• Renting out. If you plan to recoup the cost of the house through short-term rental, note that for Golden Visa properties short-term letting (Airbnb-type) is prohibited on pain of revocation of the residence permit. For an ordinary purchase without a visa there is no such ban, but you should know the rental rules and taxes in advance.

A house by the sea is a wonderful goal, but this is exactly where the cost of a mistake is highest. The more thorough the check of the title and the coastal zone, the more secure the ownership.

Conclusion: property in Greece as a considered decision

In 2026, Greece is one of the most balanced property markets in Europe for a foreign buyer. It combines rising but not yet overheated prices, a transparent transaction through a notary and the Cadastre, moderate taxes (3.09% at purchase, manageable ENFIA during ownership) and a clear bridge to European residency through the Golden Visa. Foreigners, including Russians, buy freely - subject to the border zones and mandatory source-of-funds compliance.

To keep the purchase smooth, keep three pillars in mind: the goal (for yourself or for a residence permit - this determines the threshold and the region), the money (a transparent and documented source) and the checks (an independent lawyer, a clean title, legal buildings). If you get these three things right at the outset, the transaction runs smoothly and the investment works for you for years.

Before buying, it is useful to check the current rules and forms on the official Greek government services portal - gov.gr, while the specific figures on price, taxes and residence-permit thresholds are in our dedicated articles on prices and property taxes in Greece.