Is investing in Greek real estate worth it? 10 buyer questions answered for 2026

Short answer: For most buyers, yes, if the property fits your goal and a lawyer checks the title first. Apartment prices rose 8.3% in 2025 and 5.5% year on year in Q2 2026 (Bank of Greece). Gross long-let yields on the Athens Riviera run 5.1–5.8% on BUY GREECE® network comparables, about 3–4% on area-average asking prices. Non-EU buyers face a 15% transfer tax announced from 1 July 2027 (not yet law).

Last reviewed October 2026. Market figures from the BUY GREECE® Greek Property Monitor, Q3 2026.

Can foreigners buy property in Greece?

Yes. EU citizens buy on the same terms as Greeks. Non-EU citizens, including Americans, Canadians, Australians and British buyers, can buy freehold almost everywhere. No residency is required to own.

The exception is the border areas under Law 1892/1990, where non-EU buyers need prior approval from a committee of the Decentralized Administration. The list includes:

• the Dodecanese, Evros, Thesprotia, Kastoria, Kilkis, Lesvos, Xanthi, Preveza, Rhodope, Samos, Florina and Chios;
• the islands of Thira (Santorini) and Skyros;
• some former provinces, such as Nevrokopi, Pogoni, Konitsa, Almopia, Edessa and Sintiki.

The Athens Riviera, the Peloponnese, Crete, Mykonos and Paros are not border areas. Confirm the current list with a lawyer.

What are the steps to buy property in Greece, and how long does it take?

1. Get a Greek tax number (AFM), remotely through myAADE with a video identity check, or through a tax representative under a power of attorney.
2. Open a Greek bank account to route the funds.
3. Your lawyer runs due diligence: title and liens at the Hellenic Cadastre, building permits, tax clearance, energy certificate and a technical survey.
4. Make an offer, then sign a private agreement and pay a deposit.
5. Sign the final deed before a notary, pay the balance and the transfer tax, and register at the Cadastre.

A clean resale typically takes four to eight weeks once documents are ready (BUY GREECE® data; there is no official benchmark). Land, or anything with a permit history, takes longer. The whole sequence can be done without flying, on a power of attorney signed at a Greek consulate. The full process is in our guide to buying property in Greece.

How much does it cost to buy a house in Greece on top of the price?

Notary, lawyer and registry ranges are indicative (Sotheby’s International Realty Greece, 2026). The commission is a BUY GREECE® estimate; there is no official scale.

Transfer tax is 3% plus a 3% municipal levy on the tax, charged on the higher of the price and the objective (tax) value. On a new build, the developer can suspend the 24% VAT to 31 December 2026, so the 3.09% applies instead (a 2027–2030 extension is announced, not yet law).

The government has also announced a 15% transfer tax (15.45% with the levy) for individual buyers who are not Greek or EU/EEA citizens, ethnic Greeks or long-term residents. It is expected from 1 July 2027 and is not yet law. We track it on the Greek property law tracker.

Where should you buy property in Greece?

It depends on what you want the property to do. Price bands below are BUY GREECE® network comparables (Greek Property Monitor, July 2026).

• Yield first: central Athens outside the short-let freeze districts, and the Ionian islands.
• Lifestyle and long-term value: the Athens Riviera, with Glyfada at €3,500–10,000+ per m², Voula €4,000–8,000 and Vouliagmeni €8,000–18,000+.
• Lowest coastal entry price: Kalamata, at €1,400–3,200 per m².
• A €400,000 Golden Visa: stay outside Attica, Thessaloniki, Mykonos, Santorini and every island with more than 3,100 residents, which includes all of Crete. That leaves the Peloponnese, the mainland and the smaller islands.

See our Greece Golden Visa guide for the tiers. The full ranking is in where should you buy property in Greece in 2026.

Is buying property in Greece a good investment?

Yes, with the usual caveats. The case for:

• National apartment prices rose 9.1% in 2024, 8.3% in 2025 and 5.5% year on year in Q2 2026 (Bank of Greece).
• Attica prices are up 71.1% from 2017 to 2025 (BUY GREECE® analysis).
• Tourism and relocation demand are deep, and land and permitting limit new supply.

The case against:

• Yields vary a lot by district and property quality.
• Short-let rules have tightened, and the Athens freeze is set to run to the end of 2027 (announced, not yet law).
• The Cadastre is cleaner than it was, but due diligence still matters.
• The euro moves against your home currency.

On the Athens Riviera, gross long-let yields run 5.1–5.8% on BUY GREECE® network comparables (about 3–4% on area-average asking prices). The Greek Property Monitor puts short lets at 6–10% gross where an AMA can be obtained, and the Ionian at up to 6.8% (indicative). Net returns are lower once costs, tax and vacancy are paid.

Our view in full: is property in Greece a good investment.

Can a foreigner get a mortgage in Greece?

Possible, but uncommon. Most foreign buyers pay cash, and many raise finance at home against existing assets. If you want to try a Greek bank, an AFM, a Greek account and clean income documents help. Budget months rather than weeks.

What are the taxes and running costs of owning property in Greece?

• ENFIA: the annual property tax, based on the property's value, size and location, declared on the E9 and E1 forms.
• Running costs: utilities, building charges and maintenance, which on islands is higher than buyers expect.
• Rental income tax (from tax year 2026, Law 5246/2025): 15% up to €12,000, 25% from €12,001–24,000, 35% from €24,001–36,000 and 45% above €36,000.
• Capital gains tax: on resale by individuals it is suspended to 31 December 2026. No extension had been enacted as of October 2026.

US owners also declare the rent at home and use the foreign tax credit. Detail in the capital gains guide.

Is it safe to buy property in Greece, and what are the main risks?

Yes, if the checks come before the deposit. The main risks:

• Title and permit problems. Solved by a lawyer doing the Cadastre and permit work first.
• Unpermitted extensions. Common on older stock. Legalisation is possible but must be priced in, and it sometimes blocks resale.
• Regulatory change. Short-let rules are the live example. Buy outside frozen districts if income matters.
• Thin markets. Remote islands can be hard to let and harder to sell. Access and services matter.
• Currency. The euro moves, and on a property-sized sum that is real money either way.

Can foreigners buy land or build a house in Greece?

Yes, within Greece's strict planning, seismic and land-use rules. Before you offer on land, check:

• buildability and the building coefficient;
• whether the plot is inside the town plan;
• forest and archaeological clearance.

If the purchase is for a Golden Visa, confirm with a lawyer how a plot is treated before you commit. Engage a civil engineer early. BUY GREECE® runs these checks as part of its six-check due diligence.

Is Airbnb legal in Greece, and should you rent short term or long term?

Short lets are legal where the property has an AMA registration number and meets the safety and insurance standards in force since 1 October 2025 (Law 5170/2025). The rules are in our Greece short-term rental law guide.

Short lets earn more gross (6–10% where an AMA can be obtained, Greek Property Monitor) and cost more to run: management fees, compliance and vacancy. Long lets earn less, about 3–5% gross for central Athens on BUY GREECE® network comparables, with less work.

No new AMAs are issued in Athens' 1st, 2nd and 3rd municipal communities (since 1 January 2025) or Thessaloniki's 1st community (since 1 July 2026). In those districts an AMA is cancelled on sale, so a buyer there should underwrite the property as a long let.

Worked numbers are in what rental yield can you expect from an Athens apartment, and the US-owner angle in can Americans run an Airbnb in Greece.

Is 2026 a good time to buy property in Greece?

For a long-term buyer, yes. Price growth has slowed to 5.5% year on year (Bank of Greece, Q2 2026), and the legal framework is cleaner than it was five years ago.

Two dates matter. The new-build VAT suspension is legislated to 31 December 2026. For non-EU individuals, the 15% transfer tax announced from 1 July 2027 has no transitional rules yet, so a preliminary contract may not lock in today's 3.09%.

How to start investing in Greek property

1. Run your budget through the Greek property ROI calculator to see the return after purchase costs.
2. Browse homes for sale in Greece that match what you want the property to do.
3. Brief BUY GREECE® on your investment, with your budget and goal, and we will tell you where it works.

About this guide

Published by BUY GREECE LLC, the US real estate company with offices in Chicago, Illinois and Glyfada, Athens. Reviewed by Kirill Samarits, Founder & CEO. Market figures follow the BUY GREECE® Greek Property Monitor, published quarterly and free to reuse under CC BY 4.0. Nothing on this page is legal, tax or investment advice. Corrections: contact BUY GREECE®.