Whether it is a whitewashed cottage overlooking the Aegean, an olive grove in the Peloponnese or a sleek apartment in historic Athens, buying a piece of Greece is one of life’s most rewarding pursuits. Yet navigating real estate transactions in a foreign country can feel like interpreting ancient script if you don’t know what to expect.
Fortunately, Greece’s property acquisition framework has modernized significantly in recent years. Armed with the right local experts and a clear roadmap, turning your Greek dream into a reality is remarkably straightforward.
Here is your essential, step-by-step conveyancing guide to buying property in the sun-drenched land of the gods.
1. Assemble your local dream team
Before making any financial commitments or falling in love with a sea view, your very first step is to appoint your professional legal and technical representatives (and they have to be trusted, very trusted).
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Independent Lawyer (Dikigoros): Your primary advocate. A Greek real estate lawyer handles legal due diligence, title searches and contract reviews. Crucial tip: Always choose an independent lawyer who does not represent the seller or real estate agency. I really cannot express how important this is. The lawyer needs to preserve your interest and check the desired property thoroughly before you purchase it.
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Civil Engineer (Michanikos): Unique to the Greek property market, an independent civil engineer must physically inspect the structure, verify floor plans against municipal permits and confirm there are no illegal building modifications (avthaireta).
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Notary Public (Symvolaiografos): Unlike in some common-law countries, a notary in Greece acts as an impartial state officer who drafts, certifies, and archives the official contract on behalf of the government.
Pro-Tip: If you cannot travel back and forth during the process, grant your legal team a Power of Attorney (Plirexousio) signed in the presence of a Greek notary or at your local Greek consulate. This allows them to handle administrative tasks, tax filings and signing deeds on your behalf.
2. Obtain an AFM and open a Greek bank account
To complete any financial transaction involving real estate in Greece, you need two administrative keys:
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Tax Identification Number (AFM – Arithmós Forologikoú Mitróou): This mandatory tax number is issued free of charge by the Greek Tax Authority (Eforia). Your lawyer/accountant can easily apply for this on your behalf.
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Greek bank account: While not strictly required for every buyer, having a local bank account makes paying transfer taxes, notary fees, and recurring utility bills vastly easier. It also establishes a clear paper trail for “source of funds” verification.
3. Conduct legal & technical due diligence
Once you’ve found the property and agreed on a purchase price, your legal and technical team steps into action. Never skip or rush this stage!
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The title search: Your lawyer will cross-reference property records at the local Land Registry (Ypothykofylakeio) and the National Cadastre (Ktimatologio). They ensure the seller holds undisputed title, that there are no hidden mortgages or liens and that all historical inheritance taxes have been settled.
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Technical compliance: Your civil engineer checks the official building permits and issues a mandatory As-Built Certificate (Vevaiosi Michanikou) along with an Energy Performance Certificate (PEA) provided by the seller.
4. Sign the preliminary contract & pay a deposit
Once preliminary checks come back clear, you will sign a preliminary agreement (Prosymfono).
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The deposit: Typically 10% of the purchase price, this secures the property and officially takes it off the market.
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Terms: The contract outlines the agreed timeline, conditions precedent, payment structure and terms regarding deposit forfeiture if either party pulls out without legal cause.
5. Pay the transfer tax
In Greece, the Property Transfer Tax (FMA) must be declared and paid prior to signing the final sales contract.
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Tax rate: The standard statutory property transfer tax is approximately 3.09% (a 3% base tax plus a small municipal surcharge) calculated on either the agreed purchase price or the property’s government-assessed “objective value” (antikimeniki axia), whichever is higher.
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Your notary calculates the exact amount and submits the declaration electronically via the Taxisnet portal.
6. Sign the final contract (Oristiko Symvolaío)
The big moment! Once all necessary clearance certificates, such as tax clearance (ENFIA) and municipal debt certificates, are in hand, all parties gather at the notary’s office (or are represented via Power of Attorney).
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The notary reads the contract aloud in Greek (with an official translator present if you do not speak Greek).
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Both parties sign the deed.
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The remaining purchase balance is transferred via official bank channels.
7. Title registration: making it official
Signing the contract isn’t the final step, as ownership officially transfers only upon registration!
Your lawyer or notary will register the signed deed with the Land Registry / National Cadastre (Ktimatologio). Once registered, a certificate of registration is issued, and you are formally recorded as the proud new title holder. Afterwards, your accountant will log the property into your Greek online tax account (E9 form).
Budgeting guide: closing costs at a glance
When structuring your financial budget, plan to set aside roughly 8% to 10% on top of the purchase price to cover closing fees and conveyance costs:
| Cost Category | Estimated Rate | Details |
| Property Transfer Tax (FMA) | ~3.09% | Statutory state tax paid prior to final contract. |
| Legal Counsel Fees | 1% – 2% (+ VAT) | Covers title searches, due diligence, and contract execution. |
| Notary Public Fees | 1% – 1.5% (+ VAT) | Scaled based on contract value for certifying deeds. |
| Land Registry / Cadastre | 0.5% – 0.8% | Official state registration fee. |
| Real Estate Brokerage | ~2% (+ VAT) | Standard agent commission fee. |
| Civil Engineer | Variable (fixed fee) | Covers structural survey and permit check. |
Welcome home to Greece!
While buying property abroad requires patience and meticulous administrative care, the reward is worth it: stepping onto your very own balcony, feeling the warm Mediterranean breeze and looking out over timeless Greek landscapes. It is beyond measure.
Frequently asked questions
Can foreigners buy property in Greece?
Yes. The process has modernised significantly and is straightforward with the right local team: an independent lawyer, a civil engineer and a notary. If you cannot travel back and forth, you can grant your legal team a power of attorney signed before a Greek notary or at a Greek consulate so they can handle filings and sign on your behalf.
Do I need an AFM and a Greek bank account to buy property?
You need an AFM, the Greek tax number, which is issued free of charge and can be obtained by your lawyer or accountant. A Greek bank account is not strictly required for every buyer, but it makes paying transfer tax, notary fees and utilities much easier and creates a clear paper trail for source-of-funds checks.
How much is property transfer tax in Greece?
The standard property transfer tax (FMA) is about 3.09 percent, a 3 percent base tax plus a small municipal surcharge, calculated on the purchase price or the government-assessed objective value, whichever is higher. It must be declared and paid before the final contract is signed.
What are the total closing costs when buying property in Greece?
Budget roughly 8 to 10 percent on top of the purchase price: about 3.09 percent transfer tax, 1 to 2 percent plus VAT for legal fees, 1 to 1.5 percent plus VAT for the notary, 0.5 to 0.8 percent for land registry or cadastre registration, around 2 percent plus VAT for a real estate agent, and a fixed fee for the civil engineer.
When does ownership officially transfer?
Only when the signed deed is registered with the Land Registry or National Cadastre (Ktimatologio). Signing the final contract at the notary is not the last step; after registration a certificate is issued and your accountant logs the property in your Greek online tax account via the E9 form.
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