Financing Options for Foreign Buyers in Greece: Mortgages, Loans, and Banks

Buying property in Greece as a foreign investor can be an exciting opportunity, but understanding the financial landscape is essential to ensure a smooth purchase. From mortgages and bank loans to regulatory requirements, navigating Greek property financing requires careful planning. This guide provides a clear overview of financing options for foreigners in Greece in 2026.

Greek Property Financing for Foreign Buyers

Foreign buyers have access to mortgages and loans through local banks, though conditions may differ compared to Greek residents. Key factors that influence financing include:

• Property type: New-build versus resale
• Loan-to-value (LTV) ratios: Typically ranging from 50–70% for non-residents
• Creditworthiness and documentation: Proof of income, tax returns, and bank statements

Most banks require a deposit upfront, usually between 30–50% of the property value, depending on the buyer’s profile and property type.

Mortgages for Foreigners in Greece

Many Greek banks offer mortgages to non-resident buyers, but terms may vary:

• Interest rates are competitive, often tied to the European Central Bank benchmark plus a margin
• Loan duration can range from 10 to 25 years, depending on age, income, and repayment capacity
• Some banks require additional collateral or guarantees, especially for high-value properties or off-plan purchases

New-build properties, particularly from reputable developers, may offer streamlined financing options, making it easier for international buyers to secure a mortgage.

Bank Requirements and Documentation

To qualify for a mortgage in Greece, foreign buyers typically need to provide:

1. Proof of identity and residence – passport and, in some cases, visa information
2. AFM (Greek tax number) – mandatory for all property transactions
3. Bank statements and proof of income – to demonstrate repayment capacity
4. Property documentation – including legal clearance, valuation, and title deeds

Having a Greek lawyer or financial advisor guide you through the process is highly recommended. They ensure all documentation meets bank and legal requirements, reducing delays or complications.

Loan Options: New-Build vs Resale

Financing can differ depending on whether the property is new-build or resale:

• New-build properties: Some banks collaborate with developers to provide favorable mortgages, sometimes including staged payments aligned with construction milestones.
• Resale properties: Mortgages are generally based on independent property valuation, with repayment terms adjusted according to property age and location.

Understanding these distinctions is critical for financial planning and optimizing the investment.

Planning for Costs and Interest

When budgeting for a property in Greece, buyers should consider:

• Mortgage interest rates and possible fluctuations
• Additional fees such as valuation fees, bank processing fees, and insurance
• Down payment requirements and currency conversion if paying from abroad

Proper planning ensures buyers have a clear view of total investment costs and expected monthly obligations.

Strategic Takeaways for Foreign Buyers

Foreign investors looking to buy property in Greece should approach financing proactively:

• Engage early with banks and understand eligibility criteria
• Compare mortgage offers from multiple lenders to secure the best terms
• Work with a lawyer and financial advisor to streamline approvals
• Factor in both initial costs and long-term repayment obligations

With careful preparation, obtaining a mortgage as a foreign buyer can be straightforward, enabling investment in some of Greece’s most desirable properties—from Crete and Chania to emerging islands like Astypalaia and Koufonisia.

AVAX Development supports international buyers with trusted financing guidance, offering modern holiday homes and off-plan properties with transparent mortgage and payment options for foreign investors.