Buy a House in Greece
Buy a House in Greece: A Complete Guide for Foreign Buyers
Are you looking to buy a house in Greece as a foreigner? Greece is one of the most attractive destinations for real estate investment, offering stunning landscapes, rich history, and a high quality of life. However, purchasing property in Greece as a foreigner involves navigating legal procedures, taxation, and real estate regulations. This guide will walk you through everything you need to know about the property purchase process in Greece, ensuring a safe and smooth transaction.
At Economou & Economou law office in Athens, the leading real estate lawyers in Greece, we specialize in assisting international buyers with seamless property transactions. Whether you’re purchasing a vacation home, an investment property, or relocating permanently, our expert legal team ensures your purchase is legally secure and hassle-free.
Why Buy a House in Greece?
Greece is one of the most sought-after destinations for property investment. Here’s why:
• Affordable Real Estate: Compared to other European countries, Greece offers competitive property prices.
• Golden Visa Program: Investing in real estate worth €250,000 or more grants you residency in Greece.
• Mediterranean Lifestyle: Enjoy the beautiful beaches, warm climate, and relaxed lifestyle.
• High Rental Yields: Properties in tourist hotspots like Athens, Mykonos, and Santorini offer excellent rental returns.
If you’re considering buying property in Greece as a foreigner, working with expert real estate lawyers in Greece ensures a legally sound purchase.
The Legal Process of Buying Property in Greece
1. Find the Right Property
The first step to buying a house in Greece as a foreigner is choosing the perfect location. Whether you prefer a seaside villa, a city apartment, or a countryside home, Greece has plenty of options.
2. Hire a Real Estate Lawyer
Greek property laws can be complex, making it essential to work with a specialized real estate lawyer in Greece. At Economou & Economou, we conduct due diligence, verify property titles, and ensure all legal requirements are met.
3. Obtain a Tax Identification Number (AFM)
All foreign buyers must obtain an AFM (Tax Identification Number) from the Greek tax office. Your lawyer can assist in this process.
4. Open a Greek Bank Account
A local bank account is required for property purchases in Greece. This helps with transactions and ensures compliance with financial regulations.
5. Conduct a Title Search and Legal Due Diligence
Before proceeding with the purchase, your real estate lawyer in Greece will conduct a full title search at the Land Registry to confirm ownership and check for any outstanding debts.
6. Sign a Preliminary Agreement
A preliminary contract secures the property and sets the terms of the final sale. Your lawyer will ensure this contract is legally binding and protects your interests.
7. Final Purchase Contract and Payment
The final purchase contract is signed before a Greek notary. After completing payment and registering the property in the Land Registry, you officially become the owner.
Costs and Taxes When Buying a House in Greece
1. Property Transfer Tax
The buyer pays a property transfer tax of 3.09%.
2. Notary and Legal Fees
• Notary Fees: 1-2% of the purchase price.
• Legal Fees: Typically 1-2%, depending on the complexity of the transaction.
3. Real Estate Agent Fees
If you use an agent, their commission is usually around 2%.
Working with Economou & Economou law office in Athens, the best real estate law firm in Greece, ensures full transparency in all costs and legal matters.
Golden Visa: Residency by Real Estate Investment
If you buy a house in Greece as a foreigner worth at least €250,000, you can apply for a Golden Visa, granting you and your family residency. This is one of the most attractive residency-by-investment programs in Europe.
Common Challenges in Greek Real Estate Transactions
1. Bureaucratic Delays
Greek bureaucracy can be slow. Having an experienced real estate lawyer in Greece ensures the process moves smoothly.
2. Title and Ownership Issues
Some properties have unclear ownership histories. A thorough title search by a qualified lawyer is crucial.
3. Zoning and Building Regulations
Before buying land or a house, check local zoning laws and building regulations.
At Economou & Economou, we handle these challenges effectively, ensuring you have a legally secure investment.
Why Choose Economou & Economou for Your Property Purchase in Greece?
If you’re looking for the best real estate lawyers in Greece, Economou & Economou is your top choice. We specialize in property purchases in Greece, offering:
• Full Legal Support: From title checks to contract signing, we handle everything.
• Bureaucratic Assistance: We help with tax numbers, banking, and residency permits.
• Expertise in Foreign Investments: We work with international buyers to make their Greek property purchase seamless.
When you buy a house in Greece as a foreigner, working with a trusted legal team ensures peace of mind.
Conclusion
Buying property in Greece is a fantastic opportunity, whether for investment, residency, or lifestyle. However, the process involves legal complexities that require professional guidance.
If you’re planning to buy a house in Greece as a foreigner, let Economou & Economou law office guide you every step of the way. With our expertise, your property purchase in Greece will be smooth, secure, and legally sound.
Contact Us Today!
Contact Details:
📧 Email: econlaw@live.com
📞 Phone: (+30) 2103603824
🌐 or fill out our Contact Form
For expert legal assistance with your real estate transaction in Greece, contact the best real estate lawyers in Greece of Economou & Economou law office in Athens, the best real estate law firm in Greece according to Lawzana
Economou & Economou law office: Protecting Your Rights, Securing Your Future.
