“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!
1. “I Νeed a Greek Βank Αccount to Βuy a Ηome in Greece”
You do not need a Greek bank account to buy a home in Greece. You can make all necessary payments relevant to the purchase or sale of a home from a bank account in your home country.
2. “I Need to be a European Citizen to Buy a Home in Greece”
You do not need to be a Greek or even a European citizen to buy a home in Greece. You can buy a home in Greece, no matter your home country.
Keep in mind that depending on your home country, the amount of time you can stay in Greece annually will change.
In certain regions considered as “border areas,” you may also need an additional permit if you are not an EU citizen. Read more about buying in border areas here.
If you are an EU resident, you can stay in Greece for as long as you wish. If you are a non-EU resident, you can stay in Greece for 90 days per six-month period.
3. “I Need to Speak Greek to Buy a Home in Greece”
Most of our clients don’t speak Greek. Unless you’re planning to go through the whole buying process yourself, you don’t need to speak Greek. By giving your Greek lawyer power of attorney, they can do every part of the process that requires Greek.
4. “Real Estate Agents in Greece Only Speak Greek”
It’s common for most real estate agents in Greece to speak English. Only certain real estate companies will speak languages other than Greek and English. At Elxis – At Home in Greece, you have access to native English, Dutch, and German speakers to answer all inquiries in your language.
You can find a full breakdown of the types of real estate offices in Greece here.
5. “Greece Doesn’t Have VAT Taxes”
You may have heard of a “VAT exemption” in Greece. This means that a builder or developer can apply for an exemption, not that VAT doesn’t exist in Greece.
Normally, building companies or professional builders in Greece need to charge 24% VAT when transferring newly built homes to their first owners.
Greek developers have the option to apply for a VAT exemption for their construction projects until the end of 2025. In that case, the buyers won’t have to pay 24% VAT for a house in such a project; instead, the buyer will pay 3.09% transfer tax. This is an initiative of the Greek government to make it easier to buy newly-built properties.
If you buy a plot with the intention of building a home, you will need to pay transfer tax (3.09%) on the purchase of the plot. When construction starts, the contractor will issue invoices (with VAT) for all construction stages. You can not get a VAT exemption for these invoices.
Good to know: all homes on our website include VAT, where applicable.
6. “Hiring a Lawyer is Not Necessary in Greece When Buying a Home”
A lawyer is one of the most important and useful resources you can have as a foreign buyer of real estate in Greece. The lawyer helps you navigate many parts of the home purchase, especially the legal jargon that leaves you saying, “it’s all Greek to me.
The lawyer assists you with the following:
Researching Land Titles
The lawyer checks the sequence of ownership titles and the existence of liens (mortgages, third-party claims etc.) to ensure that everything is legally in order (due diligence).
Special Permits
The lawyer can advise on any extra permits required in certain areas of Greece. For example, special permits may be required for foreigners buying in border areas. Other exceptions apply for forestry land, areas of military interest, and Natura 2000 conservation areas.
Reviewing and Negotiating Purchase Agreements
The lawyer can prepare the private purchase agreement, one of the first steps in buying a home in Greece. The lawyer can also advise or review the terms and conditions of the contract on your behalf to make sure that your best interests are safe.
Transferring Ownership of the Property
If you have signed a Power of Attorney, your lawyer can sign the final purchase deed on your behalf, which transfers ownership of the property into your name. Additionally, the lawyer can help register the deeds with the Land Registry and/or the Hellenic Cadastre.
Ultimately, thinking that property transfer processes are routine and always straightforward is a misconception. In reality, steps like land registry, verification of encumbrances, and cadastral updates can involve bureaucratic delays—especially in remote areas. Having a proactive local contact or legal advisor can save time and headaches.
7. “If I Found a House Myself, I Can’t Go to Elxis For the Legal Handling”
More than a third of our clients have found their dream house themselves and then asked us to supervise and handle the purchase. We will assist during the first discussions with the seller, making arrangements by means of a private agreement, cadastral survey, and notary deed.
8. “I Need to be in Greece to Buy a Property”
You don’t need to be in Greece to buy a home. If you sign a Power of Attorney (POA), your lawyer can represent you throughout the entire purchase process and take any necessary actions on your behalf, even when you’re not in Greece. For example, your lawyer will be able to obtain a Greek Tax Number and sign the final contract on your behalf.
9. “I Can Sign a Power of Attorney Online”
Unfortunately, it’s not possible to sign a Power of Attorney online. You can sign a POA either at the Greek Consulate in your home country or at a local public notary office in Greece. In some countries, like Belgium and The Netherlands, you can also sign a POA at a local notary.
10. “Any Lawyer in Greece Can Handle a Property Purchase”
When buying a home in Greece, you will need a lawyer specializing in the legal handling of real estate purchases and sales.
