Legal Essentials for Expats Buying Luxury Homes in Greece

Purchasing a luxury home in Greece is a dream for many expats who are drawn to the country’s sunshine, seaside lifestyle, and high quality of life. However, the process of acquiring real estate — especially luxury property — comes with specific legal and tax requirements that buyers must understand to proceed with confidence and clarity.

Below is a practical guide to the key legal aspects international buyers should be aware of when purchasing high-end real estate in Greece.

Property Ownership Rights for Foreigners

EU citizens are free to buy property in Greece without restrictions. For non-EU citizens, there are no general prohibitions, except for a few border or military-sensitive areas where special permission is needed from the Ministry of National Defense. Most popular destinations — such as Athens, Crete, the Cyclades, and Rhodes — are not affected by these restrictions.

Tax Identification Number (AFM)

Obtaining a Greek Tax Identification Number (AFM) is the first and most essential step for any buyer. It is required for all official procedures, including the signing of contracts and tax filings. This can be arranged by a legal representative or accountant on your behalf.

Greek Bank Account

While not legally mandatory, opening a Greek bank account is highly recommended. It simplifies the transfer of funds, payment of property-related taxes, and ongoing financial management. It is also useful for documenting the legal source of funds used in the purchase.

Legal Due Diligence

Before committing to any purchase, your lawyer will perform a full legal check of the property: verifying title ownership, zoning regulations, property taxes, existing mortgages or liens, and records with the Land Registry or Cadastre. For luxury properties, this step is even more critical due to potential complexities such as shared ownership, beachfront access, or commercial use.

Sale Contract and Notary Public

The final contract is signed before a public notary. This document includes all terms of the transaction: agreed price, property specifications, payment methods, and legal declarations. Having a lawyer present is mandatory for transactions over €80,000 and strongly recommended in all cases.

Transfer Taxes and VAT

The transfer tax for resale properties is 3% of the purchase price or the assessed value (whichever is higher). Newly built properties sold by developers may be subject to 24% VAT instead of transfer tax. All taxes must be paid prior to the final contract signing.

Golden Visa Program for Non-EU Buyers

Non-EU citizens who invest at least €400,000 (or €800,000 depending on the area) can apply for a Greek residence permit known as the Golden Visa. This five-year renewable permit allows free movement across Schengen countries and does not require residency in Greece.

Ownership Taxes and Property Management

Owning property in Greece requires annual tax declarations (Form E9) and payment of ENFIA, the unified property tax. If the property is rented out or used for short-term rentals, additional tax obligations apply depending on the use and rental structure.

Conclusion

Buying a luxury home in Greece is an excellent lifestyle and investment opportunity for expats — but it must be done with legal and financial awareness. With the right professional guidance from lawyers, notaries, and tax advisors, the process can be smooth, secure, and rewarding.

Whether you’re envisioning a seaside villa in Crete or a modern penthouse in Athens, understanding the legal essentials is the first step to confidently starting your new chapter in Greece owning a luxurious Greek home.