€2 million
Apartment in a prestigious area of Athens or its suburb
Property Investment in Greece as a Foreigner
Greece does not restrict property deals. Therefore, foreigners can freely buy, lease, and sell residential and commercial real estate.
Statistics confirm the liquidity of investments: residential real estate prices grow by an average of 1.2% every quarter. Seven years ago, an apartment of 100 m² cost an average of €150,000, and today it is sold for €250,000.
€2,600
Average price per 1 m²
€250,000+
Real estate investment for residency
5—11%
Associated costs, of the property value
How the residential property price index is growing in Greece
Cost of a 3-bedroom apartment in Greece
€500,000
Apartment with a sea view, 2 km to the beach
€300,000
Modern apartment on Crete with sea view
Real estate in Greece
168 m²
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Greece residency or citizenship by real estate investment
Investors can get residence permits by real estate investment if they participate in the state Greece Golden Visa program. The program condition is to buy a property worth at least €250,000, depending on the type and the region.
The residence permit is valid for 5 years. Living in Greece to maintain a residence permit is not necessary. However, the investor can qualify for citizenship after 7 years of permanent living in Greece.
An applicant for Greece citizenship must spend at least 183 days a year in the country for seven years, confirm integration into society, have no criminal records or deportations, and pass language history and culture exams.
Minimum real estate investment in Greece
€250,000+
For real estate under renovation or conversion into residential properties
€800,000+
For new properties in Attica, Thessaloniki, Mykonos, Santorini, and islands with 3,100+ people
€400,000+
For new properties in other regions
For new properties, the area must be at least 120 m².
The investor can become the owner or register real estate to an EU-based company if the investor owns 100% of its shares.
Real estate can be leased for long-term only. For violating the restriction, the residence permit will be cancelled with an administrative fine of €50,000.
Taxes and associated costs
Purchase taxes
In Greece, there are different taxes when buying a new or resale property. In addition to taxes, registration and notary fees are paid.
New buildings. Until the end of 2024, buyers of new buildings pay a property transfer tax of 3.09% of the transaction amount instead of 24% of VAT. Temporary cancellation of VAT on new buildings is a government measure to support the construction market.
Resale housing. Buyers of resale housing pay a transfer tax of 3.09% of the cadastral value or the transaction amount, whichever is bigger. The rate includes the municipal tax on the purchase of the real estate.
Additionally, the buyer pays registration and notary fees. Associated costs range 5 to 11% of the contract value.
When buying an apartment worth €250,000, the investor will spend €277,500, including additional costs.
Ownership taxes
Property owners pay an annual ENFIA single tax. The tax consists of a base part and an additional part. The base part is calculated at €0.01—13 per 1 m².
An additional municipal tax is levied at 0.025—0.035% of the property value.
Property rentals are subject to income tax on a progressive scale of 15 to 45%.
Monthly maintenance
Utilities. Water, electricity, and gas are paid by metres. Only large cities like Athens and Thessaloniki have a central gas supply. As a rule, there is no central heating in houses. They heat housing with diesel, gas, and electric heaters or air conditioners.
The building maintenance fees for an elevator, cleaning, repairs, and security depend on the management company and the building equipment.
Internet, TV, and telephone connection cost €25—50, depending on the tariff and locality.
Sale taxes
Property sellers pay a capital gains tax of 15% on the difference between the sale and purchase prices. Income from the sale of real estate is not taxed.
If the owner sells the property through an agency, then the commission is usually included in the price and paid by the buyer.
Countries to buy a property and get residency or citizenship
We offer proven properties that comply with the conditions of government programs for investors. You can buy real estate and obtain a residence permit or citizenship.
Country and status
Investments
Status
Time required
€375,000+
Permanent residency
6+ months
Show 29 properties
€375,000+Permanent residency6+ months
AED 750,000+
Residence permit
2+ months
Show 158 properties
AED 750,000+Residence permit2+ months
Not limited
Residence permit
4+ months
Show 38 properties
Not limitedResidence permit4+ months
Not limited
Residency after D Visas
6+ months
Show 72 properties
Not limitedResidency after D Visas6+ months
40+ guides with European countries
Find out how much it costs to buy and rent real estate in each country, what the market dynamics are and what taxes you need to pay when buying and selling.
Property Investment in Liechtenstein as a ForeignerThe sale of real estate to foreigners is restricted in Liechtenstein: to purchase, you need to obtain a residence permit, live in the...
€4,175
Average price per 1 m²
Property Investment in Ireland as a ForeignerIn Ireland, foreigners can buy, sell and rent out properties without restrictions. Statistics confirm the liquidity of investments:...
€4,400
Average price per 1 m²
1,7%
Average price growth per quarter
Property Investment in Finland as a ForeignerForeigners can freely buy and sell real estate in Finland. To purchase a land plot with a house, one needs permission from the Ministry...
€5,300
Average price per 1 m²
0,6%
Average price growth per quarter
Material prepared by Igor Buglo, Head of the Maltese office, MBA
Updated: