Buyers' Guide
This section contains a summary of information pertaining to buying property in Greece.
Buyer's citizenship
Under EU legistlation citizens from EU member states are allowed to buy and own property in another member state. Therefore, EU citizens can buy any kind of property in Greece. Non EU citizens need to acquire prior authorisation by applying to the Ministry of External Affairs.Prior to the purchase
Once a property has been found, property buyers in Greece require a lawyer to act on their behalf so as to perform a legal search of the property's title and ownership. This search is performed at the local Land Registry (Registry of Mortgages), e.g. a State Authority where titles to property are kept, and will ensure that the property's status (property ownership, planning permission, payment of taxes, etc) complies with required legal procedures for the purchase. The lawyer will also be the buyer's representative at the Public Notary where the contract will be signed.
Prior to signing a contract under the Greek legislation buyers are required to pay the corresponding transfer tax. The tax is refundable in the event of contract cancellation. For this purpose property buyers need to acquire a Tax Registry Number (AFM) that can be obtained from the Inland Revenue Service.Purchase
When the required documentation is complete the contract can be signed. For a property to be officially purchased a contract must be signed at the Public Notary. Both parties sign the contract before the Notary, a state official that ensures that the required documentation is complete, that both parties understand the contract and then registers the transaction in the public records. Finally, the contract has to be registered in the local Land Registry. The above procedure can be performed by the buyer's lawyer.Private Agreement
The common practise when buying a property that will be built is to sign a Private Agreement with the property developer. The agreement will outline the terms of the sale and will be used for the official contract that will be signed at a later date. In the event that the agreement is breached the injured party is entitled to damages.Taxes
As mentioned prior to the purchase buyers need to pay a Transfer Tax prior to signing their contract. Property owners are subject to a very small Public Tax that is included in the electricity bill of the property that is payable every second month.