Buying property in Greece is relatively straight forward. For EU citizens there are no restrictions, while non-EU citizens may not buy properties close to military bases or in some islands.

The steps for non-citizens to buy property in Greece are the following:

• Obtain permission from the Bank of Greece in order to import funds for real estate acquisition.
• Secure a Tax Registry Number from the Internal Revenue Service. Married couples should both obtain these.
• You MUST hire a real estate attorney who will be responsible for performing due diligence and ensuring the protection of your interests in the transaction.
• Find the property you are interested in and make an offer to the seller.
• Once accepted your lawyer will draw up an initial purchase agreement. All parties including your spouse, will sign. Expect to pay a 10% deposit to reserve the property.

• Your lawyer must now check if there are any charges on the property, if all constructions followed government planning regulations, and if all taxes due have been paid by the seller. If any problems arise, you may have to negotiate for the settlement of these first, or for inclusion in your buying agreement.
• As soon as everything is in order the process may proceed to settling the remaining balance and necessary government duties.
• You and your lawyer must now obtain copies of the title from the seller.
• Your lawyer may have to obtain the services of a notary public to prepare the contract deed and oversee the finalization of the purchase.
• The seller now needs to submit a B’Tax certificate proving he has a clean record with the Hellenic Fiscus (tax office).
• All parties must sign the contract deed in the presence of the notary who will verify and register the transaction in public records. This requires you to present a valid passport, your Tax Registry Number, and any special permission necessary to purchase.
• The final step requires submitting copies of the deed and transfer certificate to the Registry of Mortgages to change property ownership to your name.

What can you expect to pay?

First note that buyer and seller share the costs:

• Transfer tax:
  • For areas not covered by fire protection: 7% for the first €15,000 and 9% for amount over €15,000
  • For areas covered by fire protection: 9% for the first €15,000 and 11% for amount over €15,000
• Municipal tax: 3% of transfer tax.
• VAT: 19% VAT - ONLY If property is constructed on or after 01 January 2006, instead of transfer tax.
• Land Registry fees: €15 for cadastral extract plus 0.475% of property value for registrar's rights.
• Legal fees: usually a sliding scale depending on the total price, never more than 1% of the purchase price, split between buyer and seller.
• Notary fees: 1.2% of property value
• Agent's commission: 1% to 2.5% agent's commission. Note that the seller may also have to pay a similar amount.