Can foreigners buy property in Greece?

Yes. There is no nationality-based ban. Non-EU/EFTA buyers need Ministry of Defence approval only for property in designated border and military zones (Law 1892/1990), such as parts of Thrace and some Aegean islands. All buyers need a Greek tax number (AFM).

How much is property transfer tax in Greece?

3.09% of the higher of the price or the official objective value (3% plus a 3% municipal surcharge on the tax). New builds normally carry 24% VAT, but the developer may opt for the VAT suspension, extended to 31 December 2026, and charge transfer tax instead.

Greece's annual property tax, calculated on the property's official objective value and location. For a typical apartment it is usually a few hundred euros a year — roughly 0.15–0.6% of value.

Does Greece still have a property Golden Visa?

Yes. The minimum is €800,000 in Attica, Thessaloniki, Mykonos, Santorini and islands over 3,100 inhabitants, €400,000 elsewhere, and €250,000 for converting commercial buildings to homes or restoring listed buildings. Check current rules with an immigration lawyer.

How are foreign pensioners taxed in Greece?

New tax residents who were not Greek tax residents in 5 of the previous 6 years can elect a flat 7% tax on foreign-source income, including pensions, for up to 15 years (Article 5B of the Income Tax Code).

Buying Property in Greece: 2026 Guide

Greece topped International Living's 2026 Global Retirement Index, helped by a flat 7% tax on foreign pensions for new residents, a Golden Visa route through property and a cost of living well below northern Europe. Foreign buyers face no nationality restrictions: you need a Greek tax number (AFM), a Greek bank account and — for non-EU buyers in a few border zones — a Ministry of Defence permit.

Buying costs are moderate: 3.09% transfer tax, plus notary, lawyer and land-registry fees and usually a 2% agent commission plus VAT, for roughly 8% all-in. New builds normally carry 24% VAT, but developers may opt into a VAT suspension that runs to 31 December 2026 and charge the 3.09% transfer tax instead.

Market overview

Prices have climbed steadily since their 2017 low. The Bank of Greece reports apartment prices up 5.5% year on year in Q2 2026. The national average asking price is about €2,760/m² (Indomio, June 2026), ranging from roughly €1,450/m² in Thessaly to over €3,600/m² on the Aegean islands. In Athens, asking prices average about €4,170/m² in the southern suburbs, €3,500/m² in the north and €2,500/m² in the centre; Thessaloniki is around €2,670/m² (Q1 2026). Gross rental yields average about 4.4%.

Mortgages are among the cheapest in the euro area — the Bank of Greece put the average new mortgage rate at 3.23% in June 2026. Greek banks lend to non-residents, usually at 60–70% loan-to-value, and loans must be repaid by age 75. A 0.12% levy (Law 128/1975) is added to the interest rate on housing loans.

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Mortgage rates in Greece (October 2026)

Bank	Rate	Max LTV	Website

Piraeus and Eurobank figures are their lowest published fixed rates (Eurobank: 3-year fixed for non-residents). National Bank of Greece prices loans individually; its figure is benchmarked to the Bank of Greece average.

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True cost of buying & owning

Get your exact numbers with the Hidden Buying Costs and Annual Ownership Costs calculators. Thinking of retiring here? Read Where to Buy Your Retirement Home in 2026.

Step-by-step buying process

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Frequently asked questions

Sources

Bank of Greece (residential property price indices Q2 2026; mortgage rates) · Indomio (asking prices, June 2026) · Global Property Guide (Athens and Thessaloniki prices; rental yields) · AADE (transfer tax, ENFIA, rental-income tax) · Hellenic Cadastre · Piraeus Bank · Eurobank · International Living 2026 Retirement Index. Verified October 2026 — always confirm with a Greek lawyer before buying.

🇬🇷 Buying Property in Greece — Complete Guide 2026