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Step by Step Guide to Buying Property in Greece

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1. Find a property and agree on a price

Once you’ve found the property you want to purchase and agreed on a price, the next step is usually to leave a deposit with the seller. This deposit typically ranges from €5,000 up to 10% of the property price.
⚖️ Tip: Always sign a legally binding document confirming the deposit — and have a lawyer review it before signing to ensure your interests are protected.

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2. Start the due diligence process
If you live overseas, you can grant your lawyer a Power of Attorney (PoA) so they can sign documents on your behalf. This makes the process smooth and avoids unnecessary travel.

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3. Legal and notarial checks
In Greece, you need both a lawyer and a notary to complete a real estate transaction. All documents are in Greek, and the notary handles much of the administrative work.

  • Your lawyer checks the property’s title at the Land Registry to confirm it is available for sale.

  • The seller must provide key documentation, including engineering certificates, tax bills, and certificates from the municipality (e.g. electricity compliance).

  • The notary and lawyer complete their due diligence and draft a buyer–seller agreement. Once reviewed, both parties sign, and the transaction moves toward completion.

 

4. Pay the Transfer Tax
Before the final signing, the buyer must pay the property transfer tax.

 

5. Final Signing, Funding & Key Exchange
After the tax is paid, the transaction is ready to close. The final contract is signed before the Notary, and the contract is registered with both the Land Registry and the Ktimatologio (public property registry). At this stage, ownership officially transfers, and keys are exchanged.

 

Fees and Taxes in Greece
The total cost of fees and taxes is usually around 9–10% of the purchase price. A general breakdown is:

  • Real estate agent fees: ~2% of the purchase price

  • Notary fees: up to 2% of the purchase price

  • Lawyer fees: typically around 2% of the purchase price (in line with market practice for international buyers in Greece)

  • Property taxes: 0.1–1% of the assessed value (relatively low compared to much of Europe)

  • Transfer tax: typically 3.09% of the purchase price (as of January 2020)

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