Frequently Asked Questions

Can foreigners legally buy property in Greece?

Yes, foreigners can legally buy property in Greece. There are no restrictions on foreigners buying property in Greece.

Do I need a special structure like a trust or corporation to buy property in Greece?

No, you do not need a special structure like a trust or corporation to buy property in Greece. Individuals can buy property in their own name.

Do I own the property outright as a foreigner in Greece?

Yes, as a foreigner, when you buy a property in Greece, you own it outright. You have the same property rights as Greek citizens.

What are the closing costs and taxes when buying property in Greece?

The closing costs and taxes when buying property in Greece include transfer tax, notary fees, and registration fees. The transfer tax is usually around 3.09% of the property value. Notary fees are approximately 1% of the property value and registration fees are around 0.5% to 1% of the property value.

Do I need to hire a lawyer when buying property in Greece?

Yes, it is highly recommended to hire a lawyer when buying property in Greece. A lawyer can ensure the property is free of any debts or liens and can guide you through the legal process.

Can I get a mortgage in Greece as a foreigner?

Yes, foreigners can get a mortgage in Greece. However, the process may be more complicated and require more documentation than for Greek citizens.

Are there annual property taxes in Greece?

Yes, there are annual property taxes in Greece. The amount varies depending on the value and location of the property.

Can I rent out my property in Greece for income?

Yes, you can rent out your property in Greece for income. However, rental income is subject to income tax, and you must declare it on your annual tax return.

Is the buying process safe and transparent in Greece?

Yes, the property buying process in Greece is generally considered safe and transparent. However, it is recommended to hire a lawyer to guide you through the process and ensure all legal requirements are met.

Do I get residency or visa benefits by buying property in Greece?

Yes, Greece offers a Golden Visa program. When you buy property worth at least €250,000, you and your family can get a five-year residency visa. This visa can be renewed every five years as long as you maintain the property.