Short answer: yes, for most buyers it is worth it, provided you buy the right asset in the right place and do the legal work properly. Greek property is cheaper than comparable Spain, Portugal or Italy, prices have risen every year since 2017, yields are real in the right districts, and the legal process is predictable when run by people who do it every week. Below are the ten questions we get asked most at BUY GREECE, answered the way we answer them on the phone. Updated August 2026; market figures from the BUY GREECE Greek Property Monitor, Q3 2026.

1. Can a foreigner buy property in Greece?

Yes. EU citizens buy on the same terms as Greeks. Non-EU citizens, including Americans, Canadians, Australians and British buyers, buy freely everywhere except a few designated border areas (parts of the north-eastern mainland and some islands near the Turkish coast) where a permit is needed. None of the markets BUY GREECE covers on the Athens Riviera, in the Peloponnese, on Crete or in the Cyclades sit in a restricted zone. No residency is required to own, and there is no limit on how many properties a foreigner can hold.

2. What is the process, and how long does it take?

1. Get a Greek tax number (AFM). One to three weeks, by power of attorney if you are abroad.
2. Open a Greek bank account to route the funds.
3. Due diligence by your lawyer: title and liens at the Hellenic Cadastre, building permits, tax clearance, energy certificate, technical survey.
4. Offer, then a private agreement with a deposit, typically 5–10%.
5. Final deed before a notary, pay the balance and transfer tax, register at the Cadastre.

Four to ten weeks is typical for a clean resale; longer for land or anything with permit history. The whole sequence can be done without flying, on a power of attorney signed at a Greek consulate.

3. What does it cost on top of the price?

After purchase, ENFIA (annual property tax) runs from a few hundred to a couple of thousand euros for a mid-range home.

4. Where in Greece is it worth buying?

It depends what you want the property to do. For a yield-first brief, central Athens outside the short-let freeze districts and the Ionian islands lead. For lifestyle plus long-term value, the Athens Riviera (Glyfada €3,500–€10,000/m², Voula €4,000–€8,000, Vouliagmeni €8,000–€18,000). For the lowest coastal entry price, Kalamata at €1,400–€3,200/m². For a €400,000 Golden Visa, stay outside Attica, Thessaloniki, Mykonos, Santorini and the larger islands: the Peloponnese, much of Crete and the smaller islands. The full ranking is in where should you buy property in Greece in 2026.

5. Is buying property in Greece a good investment?

Yes, with the usual caveats. The case for: Attica prices are up 71.1% since 2017 (Bank of Greece) and national prices rose 8.6% in 2024; Greek prices remain well below comparable Mediterranean markets; tourism and relocation demand are deep; supply is constrained by land and permitting. The case against: yields vary a lot by district and asset quality; short-term rental rules have tightened and will tighten again; the Cadastre is cleaner than it was but due diligence still matters; the euro moves against your home currency. BUY GREECE tracks gross yields of 5.1–5.8% on the Riviera, 6–10% for short lets where an AMA is obtainable, and up to 6.8% in the Ionian; 3–5% net after costs and tax is realistic. Our view in full: is property in Greece a good investment.

6. Can a foreigner get a mortgage in Greece?

Sometimes. Greek banks do lend to non-residents, but at lower loan-to-value (often 50–60%), higher rates and with heavy documentation; approval is slower for non-EU applicants. Most of our international clients pay in cash or raise finance at home against existing assets. If you want a Greek mortgage, having an AFM, a Greek account and clean income documentation helps, and you should budget months rather than weeks.

7. What are the taxes and running costs of owning?

ENFIA annually, declared via the E9 and E1 forms; utilities and building charges; maintenance, which on islands is higher than buyers expect. Rental income is taxed progressively: 15% to €12,000, 25% from €12,001–€24,000 (from 2026), 35% to €35,000, 45% above; US owners also declare it at home and use the foreign tax credit. Capital gains tax on resale by individuals is suspended to 31 December 2026. Detail in the capital gains guide.

8. What are the main risks, and how do you avoid them?

• Title and permit problems. Solved by a lawyer doing the Cadastre and permit work before you pay a deposit, not after.
• Unpermitted extensions. Common on older stock; legalisation is possible but must be priced in and 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; on a property-sized sum that is real money either way.

9. Can I renovate, extend or build?

Yes, within Greece's strict planning, seismic and land-use rules. On land, check buildability, the building coefficient, whether the plot is inside the town plan, and forest and archaeological clearance before you offer; land does not qualify for the Golden Visa on its own. Engage a civil engineer early; BUY GREECE runs these checks as part of the six-check due diligence.

10. Short-term or long-term rental?

Short lets earn more gross (6–10% where an AMA is obtainable) and cost more to run: management at 15–25%, compliance under Law 5170/2025, vacancy, and the district freeze in central Athens and Thessaloniki. Long lets earn less (3–5% gross) with less work and no regulatory exposure. An AMA registration is personal to the owner and does not transfer on sale, so a buyer in a frozen district should underwrite as a long let. Worked numbers in what rental yield can you expect from an Athens apartment; the rules in can Americans run an Airbnb in Greece.

Why now

Prices are still below the rest of the western Mediterranean, the legal framework is cleaner than it was five years ago, and the capital gains and new-build VAT suspensions both run to the end of 2026. The market has matured out of its speculative phase, which is a better time to buy well than the peak of one. Brief BUY GREECE with what you want the property to do, and we will tell you where it does it.

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.