Your guide to buying property in Greece

Buying property in Greece is not just a dream, it's a real possibility and not as complicated as you might think. Here's how to navigate the property market and find your dream home in this Mediterranean paradise.

Property prices and investment locations

Greece is a fascinating destination for tourists and property buyers alike. Besides its long coastlines, wonderful climate and world-famous cuisine, its real estate market also offers great opportunities. Despite the geopolitical and economic challenges of recent years, property prices have been rising steadily. In 2023, national house prices rose by 13.4%, with a 15% increase in Thessaloniki and 13.7% in Athens. Patra is the cheapest location, with an average price of €1,203/m², while the average price in Athens is €3,329/m² and in Thessaloniki €2,253/m². Prices for luxury properties and beachfront developments can reach up to EUR 3,000/m².



The best locations for investment include Athens, Thessaloniki and the tourist islands of Mykonos, Santorini and Rhodes, where short-term rentals promise high returns. It is important to note that the housing stock is low, with only 287 apartments per 1,000 inhabitants, which limits supply and pushes up prices.

Legislation and administrative procedures

During the holidays and summer season, the most popular places are crowded, but with the help of an experienced real estate adviser you can avoid the tourist areas and find quiet hidden gems. The administrative steps for buying property include opening a Greek bank account, applying for a tax number and hiring a lawyer to check the title deeds. Once the sale is complete, the keys to the house will soon be in your hands!

Fees related to the purchase of real estate

When buying a property in Greece, there are a number of additional costs on top of the purchase price. One of the most significant is the property purchase tax, which is 3% of the value of the property. This amount is payable when the property is transferred. There is also a transfer tax of 0.5% of the value of the property. Lawyers' fees are also a significant item; in Greece, when buying a property, it is compulsory to have a lawyer to help you with the legal due diligence and the preparation of the contracts. Lawyers' fees are usually between 0.5% and 2% of the value of the property. In addition, estate agent fees are also a significant cost, usually 2-3% of the purchase price of the property. If you need a loan to buy a property, you will also have to take into account bank charges and the cost of borrowing. Banks generally require a deposit of 20-30% of the value of the property, and the fees associated with borrowing can vary.

Advantages of Golden Visa

The Golden Visa programme remains popular: for property purchases over €250,000, you can get a five-year residence permit to live or work in Greece with your family, but you can also rent out your property.

Why is the Greek property market attractive?

The property market in Greece is dynamic, but the favourable prices and high yields make it an attractive investment, especially in areas driven by tourism. Whatever property you're looking for, the Greek market has something to offer, whether it's a historic apartment in Athens, a modern apartment in Thessaloniki or a beachfront villa on a beautiful island.