Investment property: Greece

Updated 6 October 2026

A foreigner can buy a flat, house or plot in Greece without a special permit; restrictions apply only in border areas and on some islands, where non-EU nationals need approval.

The deal requires a Greek tax number and a Greek bank account: payment is non-cash. A notary certifies the contract, and title is registered in the land cadastre. Dollar amounts use the European Central Bank rate of 5 October 2026, $1.12 per euro.

Property and investor residence

Since 1 September 2024, under Law 5100/2024, the property residence thresholds are:

• €800,000, about $896,400, in Attica including Athens, Thessaloniki, Mykonos, Santorini and islands with more than 3,100 inhabitants;
• €400,000, about $448,200, elsewhere;
• €250,000, about $280,100, only in special cases: converting a commercial building to housing or restoring a listed building.

The investment must be in one property of at least 120 m², and such property may not be let short-term to tourists. Conditions and family are on our Greece investor residence page.

Taxes and costs on purchase

• Property transfer tax: 3.09% of the price or cadastral value, whichever is higher, on resales. On a €400,000 flat that is €12,360, about $13,850.
• New builds may be subject to 24% VAT instead of transfer tax; it has been temporarily suspended, so the regime is checked at the deal date.
• Notary, lawyer and cadastre registration are paid separately.

Owner's taxes

• The annual unified property tax depends on the size, location and features of the property.
• Rental income is taxed on a scale: 15% up to €12,000 a year, 35% from €12,001 to €35,000 and 45% above.
• Tax residency arises after 183 days in the country in a year.

How the purchase works

1. Tax number and a Greek bank account.
2. Shortlisting and a lawyer's check: cadastre title, debts, compliance of buildings with permits.
3. Certificates that the seller has no tax debts and, from an engineer, that the buildings are lawful.
4. Notarial contract, tax payment, transfer of funds through a bank.
5. Cadastre registration and, if needed, the residence application.

Risks

• Unlawful extensions or buildings not matching permits: they must be legalised before the deal.
• A residence property under 120 m² or split into several: the investment will not count.
• Letting a residence property to tourists is prohibited.

Can a Russian citizen buy property in Greece

Yes. No separate permit is needed except in border areas and on some islands, where deals by non-EU citizens are cleared with the authorities in advance. A purchase requires a Greek tax number and an account at a Greek bank; payment is non-cash only, and the notary checks where the money came from.

Payment is the hardest part. EU sanctions rules prohibit banks from accepting deposits above 100,000 euros, about $113,000, from Russian citizens without an EU residence permit. So the payment route is planned before the deposit, not on the day of the deal. Investor residence terms and thresholds by area are on the page Greece residence by investment.

From 1 July 2027 the government promises a 15% purchase tax plus a local levy for non-EU citizens without long-term resident status, instead of today's 3.09%. The law has not been passed; see Greece's 15% tax for foreigners.

Apartment prices by city

According to the Bank of Greece, new apartments rose 6.2% over the year and older ones 5.0%, with prices growing fastest not in the capital but in the provinces. In Attica, including Athens, the average price of actual deals exceeds $3,400 per square metre, and a 70 m² apartment costs about $240,000. In the prestigious southern suburbs of Athens a square metre costs several times more, while on the outskirts and in small towns it is below average. Districts are reviewed in buying an apartment in Greece.

Owner taxes: rent and sale

• Annual unified property tax. The amount depends on the area, location and features of the flat; residents and non-residents both pay it.
• Rent. Income is taxed on a scale: 15% up to 12,000 euros a year, about $14,000, 35% up to 35,000 euros, about $40,000, and 45% above. A non-resident pays in Greece on the same scale.
• Tourist lets. In 2025-2026 new short-term rental registrations are not accepted in three central districts of Athens, and a home bought for residence may not be let to tourists at all.
• Sale. The 15% tax on gains from property sales by individuals is suspended until 31 December 2026, so a private seller does not pay it in 2026.

In 2023 Russia suspended the main articles of its double tax treaty with Greece, so tax on rent is paid in Greece and the credit in Russia does not work in full. A Russian tax resident declares the income and notifies the tax office of the Greek bank account. More on the page taxes in Greece.

How to buy property in Greece remotely

A Greek deal can be done without travelling. The buyer issues a power of attorney at a Greek consulate or before a notary in the country of residence with an apostille and a translation into Greek, and the representative obtains the tax number, orders the engineer's certificate on the legality of the buildings and signs the deed before a notary. After the deal the title is registered in the land cadastre.

In person you usually come once, to open a Greek bank account. For investor residence a later visit is needed to give biometrics. Money for a property bought for residence is paid through a bank, and the notary records the payment documents in the deed. From deposit to registration usually takes one to two months.

What we do

We obtain the tax number and account, shortlist a property for your budget and goal, check title and building legality, support the notarial deal and registration with locally licensed partners, and prepare the investor residence application.

What we do

• Property shortlist for your investment goal
• Legal due diligence on the property
• End-to-end transaction support
• Ownership structuring (company, trust)
• Property management and letting

See also

Company formation · Business account · Personal account · All country programs

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