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What are the Steps to Buy a Home in Greece?

Purchase Tips

19.09.2024

You're imagining your dream home in Greece: sunset views over the Mediterranean, Greek coffees on the balcony, dinners on the terrace. Then your mind returns to reality, and you wonder about the logistics of buying a house in Greece. What documents do I need to sign, and when? Do I need to negotiate my own price? Once I find a house, how do I know it's legal? In this article, we break down the process step by step.

1. Search for Properties in Greece

Your first step is to identify the home you want to buy. This depends on your long-term goals, your budget, the region where you want to live, and whether you plan to use the home yourself or mainly for rentals. You can choose from new off-plan homes, existing homes, apartments, villas, village homes, seaside homes, mountain homes, and more. There is a lot of choice, so take time to think through your long-term goals. If you would like help brainstorming, you can contact us for a non-committal consultation.

2. Go on a Viewing Trip

Nothing beats viewing a property yourself. After you have shortlisted some favourites, visit them in person to get a better sense of the surroundings, condition, and amenities. This helps you judge the commute to various places and whether the amenities you want are nearby. It is not a requirement to see the property in person before buying, and a virtual viewing is one popular alternative. Even so, we recommend seeing it first where possible, because how you feel on the property matters, especially if you plan to spend a lot of time there.

3. Agree on a Price

This stage can feel daunting for first-time buyers. Negotiation is part of the process, so try not to take it personally. Sellers usually start high, and buyers open below what they are really willing to pay. It helps to ask the seller some thoughtful questions: how many buyers are looking at the property, and what are their goals?


Real estate agents are good allies here, as they understand the market and can realistically assess a property's value. After a few rounds of counteroffers, you will usually reach a price that suits both sides.

4. Legal Due Diligence

You need a Greek lawyer for this step. Just a reminder: our office has an in-house legal department with 10 lawyers specialised in property law. The lawyer checks the ownership titles and carries out a thorough survey at the local Land Registry to confirm the property is in order and can be sold. Any encumbrances, such as mortgages or third-party claims, are researched at this point.

5. Sign a Private Purchase Agreement

Once you have agreed the price, you are ready to sign a private purchase agreement (PPA). A PPA sets out the terms under which the buyer and seller agree to transfer the property. It looks slightly different for every purchase. Once signed, it places both parties under contract and the house is taken off the market. The PPA is usually drafted by the buyer's and seller's lawyers, and both parties can then make amendments if they wish to adjust the terms. On signing, the buyer pays a deposit to reserve the property, typically between 5% and 10% of the purchase price.

6. Sign a Power of Attorney

The power of attorney (POA) is a key step in buying a house in Greece. With a POA, your lawyer can represent you throughout the purchase and act on your behalf, even when you are not in Greece. For example, your lawyer can obtain your Greek tax number and sign the final contract for you. You can sign a POA either at the Greek consulate in your home country or at a notary office in Greece.

7. Get a Greek Tax Number

To buy a property in Greece, you need a local tax number, the AFM. This gives you access to the Greek TAXIS system online, where you report and pay property taxes. The procedure is simple. A tax number is issued free of charge by the tax authorities on presentation of a valid identity document and a completed application form. If you have given us a power of attorney, we can apply for the tax number on your behalf. Note that a Greek bank account is not a requirement for buying a home in Greece.

8. Both Parties Sign the Final Papers

The seller must submit a series of documents for the notary to prepare the final purchase deed. These include energy certificates, topographical diagrams, tax clearances, and municipal certificates, among others. Once the documents are assembled, the notary prepares a property transfer tax declaration and submits it to the tax office. Once the buyer pays the transfer tax, the final deed can be signed. At the signing, you need to be there in person or send a legal representative whom you must have authorised by a power of attorney. After signing, the notary gives a copy of the deed to the buyer's lawyer, who files it with the Land Registry or the Hellenic Cadastre, depending on where the property is. From the moment the deed is entered in those public registers, you are formally the legal owner.

9. Complete the Payment

In most cases, the buyer pays on the day of signing. When the transaction is between two banks in the same country (Greek to Greek, or Dutch to Dutch, for example), the money usually reaches the seller the same day. If the banks are in different countries (Dutch to Greek, for example), the purchase deed usually includes a clause allowing the buyer to pay within 10 working days of signing. In the unlikely event the buyer does not pay within 10 days, the seller is entitled, provided the clause is in the notary deed, to take back ownership and keep the deposit. Once the purchase sum reaches the seller's account, a discharge deed is signed. The exact terms and timing vary with the situation and any extra agreements between the parties. Finally, after the signing, the property is registered on the buyer's E-9 tax form.

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