Buying Property in Greece as a Foreign Investor: What Actually Matters

Every foreign buyer we work with asks a version of the same question early on: is buying property in Greece actually straightforward for a non-resident? The honest answer is yes, structurally — Greek law places few restrictions on foreign ownership — but the process has a specific sequence that catches first-time buyers off guard if nobody walks them through it in advance.

Get a Greek tax number before anything else

You cannot complete a property purchase in Greece without a Greek tax registration number, known as an AFM. Non-residents can obtain one through a Greek tax office or, more commonly, through a lawyer or accountant acting on their behalf with power of attorney. This typically takes a few days and should be started before you've chosen a specific unit, not after.

You will also need a Greek bank account, or at minimum the ability to transfer funds through a Greek-compliant channel, since deposits and the balance of the purchase price are paid in euros through traceable, documented transfers — a requirement tied to Greece's anti-money-laundering framework.

The reservation agreement is not the purchase contract

On a new-build project, buyers typically sign a reservation agreement first. This secures the unit and locks the price while your lawyer completes due diligence — confirming clean title, checking for liens or encumbrances, and verifying the developer's permits. The reservation deposit is usually 10–15% of the purchase price. This is not yet the binding purchase contract.

The binding step is the notarial deed, signed in front of a Greek notary, after which the transfer is registered with the Hellenic Cadastre. Only at that point is ownership legally yours. Anyone telling you a reservation deposit alone guarantees ownership is skipping a step.

“The reservation secures the unit and the price. Ownership isn't transferred until the notarial deed is signed and registered.”

Independent legal representation is not optional

Greek convention — and good practice everywhere — is for the buyer to retain their own lawyer, separate from the developer's or seller's legal team. Your lawyer reviews the title, the building permits, the draft contract, and represents you at the notarial signing. Costs are modest relative to the transaction: typically 1–2% of the purchase price for legal fees, alongside notary fees and a property transfer tax that varies by circumstance.

Where the Golden Visa fits in

If the property qualifies toward Greece's Golden Visa investment threshold, the residency application is a parallel, separate legal process handled after the purchase — it does not happen automatically. Buyers pursuing residency should retain immigration counsel in addition to their property lawyer, since eligibility rules are specific to property type, location and value, and are periodically revised by the Greek government.

None of this needs to be intimidating. It needs to be sequenced correctly, with the right professionals engaged at the right time — which is precisely the coordination role HolidayHome's advisory team plays for buyers on every project we market.