Buying Property in Greece as a Foreigner

The Greek lifestyle revolves around culture, cuisine, landscape, family and big social gatherings. Greece's intriguing history isn't just in the stories but shows in every corner of the country making it one of the most attractive places to investors. Despite the economic crisis in 2009, the real estate market is gradually developing again yet the prices are still some of the lowest in Europe. This makes the country's property market both resilient and affordable.

Best Locations to Buy Property in Greece

Situated on the Ionian Sea, Corfu harbours UNESCO heritage areas and attractive tourist spots. It’s one of the best locations to buy property in Greece, especially for UK expats.

Zakynthos is an Ionian island having sandy beaches, world-famous resorts and party hotspots. If you’re about that nightlife scene, Zakynthos is the place for you.

Crete is the largest Greek island consisting of beaches and villages, also known for its safety and amazing climate that makes it a popular spot for UK buyers.

Rhodes is a popular location to buy a holiday home, also offering a mix of traditional and modern lifestyle.

Athens, the capital of Greece, is perfect for the city life enjoyers. Besides having great connections, with frequent direct flights to the UK, Athens is also popular among foreigners willing to buy property in Greece due to the high-yielding short-term rental income.

What are the types of Property available for sale in Greece?

Greece offers all kinds of properties for sale from modern apartments and luxury villas to townhouses and plots of land. Apartments come with breathtaking views, however, villas are more sought-after by buyers even though they’re relatively more expensive. When buying property in Greece, it is important to consider your budget and what among the types of property might serve you better than going for the most popular ones.

How to Buy Property in Greece as a Foreigner?

Buying property in Greece can be simple, provided you decide on a well-built property with the help of a competent real estate agent after which, a skillful lawyer can deal with the paperwork, who makes sure to keep you in the loop regarding legal matters and helps you make important decisions. The transaction must be approved at the notary and the property should be registered in the local Land Registry which brings us to additional fees like the notary fee, stamp duty, and the registration fee. As long as you have trustworthy professionals helping you along the way, you can easily buy property in Greece as a foreigner.

Who Qualifies for Buying Property in Greece?

Anyone can purchase property in Greece, but EU residents go through the transaction process more smoothly. Non-EU individuals have to submit proof of their connections to Greece, their income, tax returns, inheritance, dividends, a letter of employment, and their intent for the real estate. Their application is then evaluated by the Ministry of Defence after which the buying procedure can officially start.

Buy Property in Greece and Get Residency

You can buy property in Greece and get residency through its Golden Visa scheme by making a minimum investment of €250,000 in any Greece property. You and your family can legally live and work in Greece or choose to rent out your purchased property, have visa-free access to Schengen countries and can apply for citizenship after seven years.

Greece Property Market

After a major crash in 2009, the property market in Greece suffered greatly, with the global pandemic adding on to it. However, property market has since recovered and seen impressive growth in 2019, with house prices rising slowly at a rate of 3-4%. Property market is also aided by Greece’s steadily increasing tourism which will push real estate prices to higher levels.

Greece Property Investment

Since real estate in Greece is currently cheaper than the rest of Europe and significant growth is visible, now is the perfect time for overseas buyers to avail any property investment opportunities in Greece by contacting us. Moreover, tourism in Greece keeps increasing which means more holiday homes will be rented out in the future, making new property investment opportunities available.

If an overseas buyer’s native country is under a tax treaty with Greece, they aren’t required to pay double taxes. Greece also offers an affordable lifestyle with a well connected local transportation system and the country itself is also very easy to travel to.

Greece Property Prices

Property prices in Greece are fairly affordable on islands such as Rhodes, Corfu, and Crete.

In Rhodes, you’ll find a property in the center starting from €2,978 per meter square, and €2,478 per meter square away from the center.

In Corfu, The price per meter square is €1,925 in the center, and €1,437 outside the center.

The price per square meter starts from €1,150 in Crete.

Athens, being the capital city, has property prices that are more on the expensive side. The average cost per meter square of property ranges from €3,500 to €5,000

Get in touch with us for more information on purchasing a propeerty in Greece as a foreigner