12.02.2025
If you plan to buy a home in Greece, you've probably done some planning on how to finance your new home. Depending on your home country, one common option might be a mortgage. In Greece, getting a mortgage as a non-resident is not an easy endeavour, but it’s good to be informed about how the process works.
We will present the general process of getting a mortgage in Greece, but the process of each bank may differ and may change from year to year. In general in Greece, mortgage rates vary from 3.0% to 6.5%, depending on the bank (as of Jan 2026), and mortgage terms will be slightly different based on the bank you visit.
You do not need to be a Greek resident to apply for a mortgage, but most Greek banks apply different, stricter rules for people living abroad. For some (not all) Greek banks, you will need be a Greek taxpayer, meaning you must have your tax residency in Greece in order to be eligible for a loan.
You must be under a certain age (usually 70-75) years old at the time your loan ends. This age limit will differ depending on the bank as well.Your family's income must be sufficient compared to the amount you want to borrow and the monthly amount. You will also need a Greek tax number (AFM) and Greek bank account.
To get a mortgage in Greece, with most banks you will need:
- A copy of your ID or passport
- A Greek Tax Number
- A letter of employment or proof of income. This includes copies of paychecks for employees, or a proof of business for freelancers.
- Tax returns from the last years from the country where you filed taxes (usually going back 2-3 years, depending on the bank).
- A bill that shows your residential address
- Proof of a registered telephone number
The documents need to be translated and typically bear an Apostille stamp. Some banks will require additional documents, which will depend on your country of origin
No, you don’t need to be a Greek resident to apply for a mortgage.
Yes, you will need a Greek bank account and AFM (tax number) to get a mortgage in Greece. Getting a tax number is necessary when buying a property in Greece, so it doesn't need a separate process.
Property values have been slowly and steadily increasing since 2020. Today, a newly built villa in the southern part of Rethymnon in Crete, with a surface area of 80 sq. m., three bedrooms, two bathrooms, and a pool, is priced at 327,000 euros. A property with similar specifications in the same region was selling last year for 280,000 euros and was even lower in 2022, with a sale price of 265,000 euros. The 2024 price represents an increase of 23.3% compared to 2022 and 16.7% compared to last year. This means you can make a profit just one year after investing in a home in Greece.
Based on Elxis’ data, prices for holiday homes in Greece are expected to rise by an average annual rate of 8%-10% over the next few years.“Many of our clients believe, rightfully so, that the current period is probably the final chance they’ll have to acquire a unique holiday home in Greece at a very competitive price point. This will allow them to not only secure a solid annual net yield of at least 4% from rental income but also profit from a future resale of the house in a few years,” Mr Gavriilidis (Elxis CEO) notes.
Generally, for non-residents the maximum amount of the mortgage can’t be more than 50% of the taxation value of the property, depending on the bank. The amount of your mortgage is dependent on multiple factors.
First, the bank usually does a background check of your personal details - income, tax returns, financial history, and the value of your collateral on the loan, among other supporting documents.
Second, the bank does a "technical check" on documents related to the property, like title deeds, building permits, topographic maps, and more.
The total mortgage repayment period will depend on the length of time you choose to repay your loan. Usually, a longer term means a lower monthly payment, but the total interest is higher. In general, a shorter term has a higher monthly payment, but a lower total amount interest.
**The rates listed below are subject to change.
If you are not a Greek or Cypriot citizen, you may take out a mortgage loan for up to 50% of the value of the property:
- 3 years with fixed interest rate at 3.00%**
- 5 years with fixed interest rate at 3.60%**
- 7 years with fixed interest rate at 3.80%**
- 10 years with fixed interest rate at 4.30%**
- 15 years with fixed interest rate at 4.60%**
Please note that you need to have your tax residency in Greece in order to apply for a loan at National Bank of Greece. If you are a Greek tax resident, the same rates apply as for locals.You may take out a mortgage loan at a minimum of 10,000 Euros, for up to 55% of the property value:
- 3 years with fixed interest rate at 3.00%**
- 5 years with fixed interest rate at 3.50%**
- 10 years with fixed interest rate at 4.00%**
- 15 years with fixed interest rate at 4.30%**
- 20 years with fixed interest rate at 4.50%**
- 30 years with fixed interest rate at 4.60%**
You may take out a mortgage loan at a minimum of 20,000 Euros for:
- 5 years with fixed interest rate at 2.95%**
- 30 years with fixed interest rate at 5.10%**
To find your exact interest rate, you will need to arrange a meeting with a specialist in a Piraeus Bank branch. You do not need to have your tax residency in Greece in order to apply for a loan at Piraeus Bank.
To receive a quote from AlphaBank, you will need to make an application online and enter the price of the house as well as some details like its energy class. Then you get pre-approval to speak with a representative to find out what rates you qualify for.
Financing Alternatives for Your Home in Greece
You have a few other options if you choose not to get a mortgage in Greece. For example, you can:
- Pay with available funds (the most common option)
- Remortgage your current property in your homeland to buy a property in Greece
- Get a mortgage loan abroad
It can take up to 12 visits to the bank to complete a mortgage in Greece, without the proper guidance. Language barriers, bureaucratic processes, and differences in local procedures can leave you saying “it’s all Greek to me.”
Enjoy a simple, hassle-free process to get a loan in Greece, both to purchase, repair, or build a property in Greece here. Loan pre-approval can be obtained within a few days, if you have submitted all the documents required.
18.05.2026
You've dreamed for years about your home in Greece: where it will be, the taverna meals you will have, and the summer sun. Now comes one of the logistics of buying a home in Greece: what kind of ownership you want.
17.05.2026
If you’re searching for your dream home in Greece, you’ve probably already run into the question: should I buy an existing home in Greece, or a new, off-plan home? Many buyers are specifically looking for off-plan houses in Greece in the best locations in Greece to maximize their investment and lifestyle benefits, with off-plan apartments and villas also being popular choices among buyers. Off-plan property investment refers to purchasing real estate before construction is completed, allowing buyers to secure a unit at lower pre-construction prices and benefit from potential capital appreciation. Many investors choose to invest in off-plan properties in Greece for both lifestyle and financial benefits, such as flexible payment plans and the potential for rental income.
First things first, let’s define off-plan homes and discover the unique opportunities they offer in Greece. The Greek property market continues to attract international investors seeking geographic diversification, with a growing number of off-plan developments available. Recent data from market reports shows a steady increase in off-plan property purchases among overseas buyers, with data analysis highlighting this upward trend. Off-plan developments in Greece typically offer modern specifications and warranties, making them especially attractive to international investors looking for both quality and security in their property investments.
15.05.2026
Buying a house in Greece comes with many things people already expect: sunshine, sea views, olive trees, village squares, and terraces that seem specifically designed for “just one more coffee.” But the buying process itself may also include a few details that feel different if you are used to purchasing property elsewhere. The Greek real estate process has its own rhythm, local habits, and practical steps. Some are legal. Some are technical. Some are simply part of life in Greece.
Here are 10 things you may find a bit strange when buying a house in Greece.
13.05.2026
“I need to be a Greek citizen to buy a home in Greece, right?” “Don't I need a Greek bank account to buy a home in Greece?” “I signed a Private Purchase Agreement... does that mean I own the house now?” In this article, we present the most common misconceptions we hear from clients. Keep in mind, this is perfectly normal if you're buying a home in Greece for the first time!
12.05.2026
I want to buy a home in Greece, but I don’t know anything about the process. Who will I work with when buying a home in Greece? If I don’t speak Greek, will someone help me with the documents? Do I need a lawyer, a real estate agent, or an engineer? Which of these contacts do I need to have in Greece before I start the process of buying a home?
When buying property in Greece, you will typically work with a real estate agent, a buyer’s lawyer, who is a key participant in drawing up and signing the purchase deed in collaboration with the notary, and a notary. The notary office is the expert entity for notarial acts and legal services related to property transactions, including property conveyancing, document formalization, and legal consultancy, as well as notarial acts and legal services for documents intended for use abroad, addressing cross-border requirements such as translations and legalization. The office serves as the professional space where legal and notarial services are conducted, such as signing, verification, and consultations. Understanding all the costs involved, such as notary fees, transfer taxes, and legal fees, is crucial to avoid surprises and ensure a smooth transaction. These professionals are essential for both individuals and businesses looking to invest in Greek real estate.
Buyers, whether private individuals or commercial entities, often require guidance to navigate the Greek notary system, understand the legal framework, and ensure all necessary documents and legal requirements are met. Greece is a popular destination for international clients, including those seeking a golden visa through real estate investment. This is especially important for international clients who may not be familiar with the local language or the digital systems now supporting notarial acts in Greece. The contract for property transactions is always drafted in Greek, so a translator is required for non-Greek speakers. The process and role of notaries can differ from those in other countries, so expert guidance is highly recommended. Notaries in Greece also provide services related to wills, which are important for estate planning and succession.
11.05.2026
In recent years, buying a second home in Greece has become especially popular, driven by the steady growth of the real estate market and increased interest from investors. This growth is supported by Greece's economic recovery and government incentives, making it an attractive investment opportunity. The rise of home rental websites like Airbnb and VRBO has further fueled demand. Greece offers something for every lifestyle, with a diverse range of property types including modern apartments in vibrant city centers, luxury villas on the islands, and family-friendly homes in the mainland regions. As a popular tourist destination, Greece attracts both buyers and investors seeking lifestyle benefits, strong rental income potential, and long-term appreciation. The country's warm hospitality and high quality of life further enhance the experience of owning a second home here.
16.04.2026
In this comprehensive guide to buying a home in Greece, we will cover the entire process of buying a home in Greece, including where to buy a home in Greece, what types of homes you can buy in Greece, the documents needed, the legal process of buying a Greek home, and also frequently asked questions.
- Trustworthy: Elxis has over 30 years of experience buying, selling, and performing all legal procedures for the purchase and sale of properties in Greece. The information in this guide comes directly from our team of lawyers and real estate consultants, so you don’t need to think twice about the credibility of the information.
- Up to Date: Most similar guides you will find on the internet have old information about tax rates, documentation, and legal processes. This buyer’s guide is continually updated as the rules and regulations in Greece change, so you don’t have to wonder if anything is out of date by the time you start your home search.
- Optimized for English Speakers: Many similar guides are translated from Greek to English, and as a result, some of the meaning is lost in translation. This guide is written 100% by native English speakers and proofed by native Dutch and German speakers, so the information is clear and understandable, no matter where you’re reading from.
29.12.2025
You have bought your home in Greece and are wondering how to add utilities such as electricity, water and internet to your property? In this article we explain exactly how to add utilities to your home in Greece.
