Why Greece?

Greece offers a mix of lifestyle and investment appeal with:

• Mediterranean climate and scenic coastlines

• Historic cities, vibrant islands, and cultural depth

• Golden Visa program (with revised terms)

• Affordable prices compared to Western Europe

• Strong tourism and Airbnb markets

Can Foreigners Buy Property in Greece?

Yes—foreigners can legally purchase property in Greece, with no citizenship or residency requirement. However:

• Non-EU citizens may face some restrictions in border or island zones (e.g., near Turkey or military areas), requiring Ministry of Defense clearance.

• EU citizens face no restrictions at all.

Foreign individuals and companies can both buy, lease, or develop property.

Golden Visa 2025 Update

As of 2025, Greece’s Golden Visa program allows residency for property investors with:

• €250,000 minimum investment (applies only in select regions)

• €500,000 threshold in high-demand zones:

  • Athens (Central, North, South)

  • Thessaloniki

  • Santorini and Mykonos

Key benefits:

• 5-year renewable residency

• No stay requirement

• Includes spouse, children under 21, and parents

• Path to EU permanent residency or citizenship (after 7+ years of residency and language test)

Legal Process of Buying Property

1. Get a Greek Tax Number (AFM)

2. Open a local bank account

3. Hire a local lawyer (for due diligence and contract review)

4. Sign preliminary agreement & pay deposit (10%)

5. Conduct property check: Legal title, planning permissions, debts

6. Final contract signed at a notary’s office

Taxes & Fees

• Transfer tax: 3% of property value

• Notary fees: 1%–1.5%

• Lawyer fees: 1%–2%

• Agent commission: 2%–3% (usually paid by buyer)

• Annual property tax (ENFIA): Based on size and location, usually low for smaller homes

Mortgage Availability for Foreigners

Greek banks offer limited financing for non-residents. Cash buyers dominate the market.

If a mortgage is offered:

• Up to 50% LTV

• Interest rates ~5%–6% (2025 average)

• Proof of income and international credit record required

Is Greece Right for You?

✅ Best for:

• Retirees seeking affordable EU lifestyle

• Families and digital nomads (esp. in Athens and Thessaloniki)

• Investors targeting Airbnb income in tourist hotspots

• Citizenship/residency seekers via the Golden Visa

❌ Less ideal for:

• Buyers wanting rapid capital growth (appreciation is steady but slow)

• Those needing fast resale or liquidity

• Investors unfamiliar with local bureaucracy (can be complex without guidance)

Top Places to Buy in Greece (2025)

Athens

• Urban capital with cultural charm and affordable neighborhoods

• High rental demand (both long-term and short-term)

• Areas to watch: Koukaki, Pangrati, Kolonaki, Exarchia, Glyfada (luxury)

Thessaloniki

• Northern cultural and business hub

• Strong student and rental markets

• Best for mid-budget buyers and city investors

Crete

• Largest island with both city life (Heraklion, Chania) and beach towns

• Attracts retirees, families, and second-home seekers

Santorini & Mykonos

• High-end short-term rental zones

• Limited supply, high prices—best for luxury investors

Peloponnese & Halkidiki

• Affordable rural and coastal properties

• Great for long-term stays and lower entry budgets

Rental Yield & ROI Overview

Note: Airbnb licenses are required and can be limited in some zones.

Trends in 2025

• Golden Visa regions shifting demand to less saturated areas

• Increased interest in off-grid and eco-properties

• Infrastructure upgrades improving access to smaller towns

• Digital nomad influx boosting demand in mainland cities

Common Mistakes to Avoid

• Overpaying in tourist areas without doing rental demand research

• Skipping legal due diligence on title, zoning, or renovation legality

• Ignoring Golden Visa zoning thresholds

• Not budgeting for taxes and translation/legal fees

• Delays in permit issuance for Airbnb or renovations

Conclusion

Greece remains one of Europe’s most accessible real estate markets for foreign buyers. With clear rules, moderate pricing, and visa options, it appeals to a broad audience—from lifestyle seekers to global investors.

The key is to buy smartly in the right location, understand the new Golden Visa thresholds, and work with experienced local professionals.

Greece offers a timeless combination: sea, history, food—and now, secure investment.