The Greek purchase process is orderly, but it carries legal defects specific to this market that a foreign buyer will not spot without help.
Three defects to check for
- Unpermitted building work — extensions, enclosed balconies, converted basements. These are common, and they can make a property unusable for a residence file even if the price is right
- Outstanding taxes or charges attached to the property
- Unclear title through inheritance — properties passed down without formal partition among heirs
Defect three is worth understanding: an inherited property may have several co-owners who must all consent, and tracing them can take a long time or stall a sale entirely.
The seven-step process
- Obtain a tax registration number — required before almost anything else
- Open a local bank account and prepare source-of-funds evidence
- Independent legal due diligence — title, encumbrances, planning compliance
- Engineer's certificate confirming no unpermitted works
- Preliminary agreement and deposit
- Notarial deed and registration at the land registry
- File the residence application with proof of ownership
Step four is specific to this market and should never be skipped: the engineer's declaration on planning compliance is what protects you against the first defect above.
Costs beyond the price
- Transfer tax or VAT depending on whether the property is new
- Notary and land registry fees
- Legal fees and engineer's fees
- Agency commission
- Annual property tax and, in apartment blocks, communal charges
New and older properties fall under different tax treatments, so ask a lawyer to price both totals before comparing two properties rather than comparing headline prices.
Choosing where to buy
- Threshold band for that location
- Year-round demand — a property near schools or offices lets all year; a purely holiday area does not
- Short-term letting rules — city rules and building bylaws can differ, and bylaws can forbid what city rules permit
- Building condition and heating — older stock is cheap to buy and expensive to run
The rule that protects buyers
Instruct your own lawyer, chosen independently, before viewing rather than after choosing. It is the only meaningful protection on the buyer's side, and it costs a fraction of the risk it removes.
Frequently asked questions
Which defect is most common?
Unpermitted building work, which can make a property unusable for a residence application.
Why does an engineer's certificate matter?
It confirms planning compliance and is the main protection against unpermitted works.
What complicates inherited properties?
Multiple co-owners who must all consent, which can stall or block a sale.
How should two properties be compared?
By total cost including the applicable tax treatment, not by headline price — new and older properties are taxed differently.
Need a tailored roadmap?
Viking Global Group walks with you from paperwork to settlement. Call +849.219.219.88 or email [email protected] for a free consultation.
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- Investment & Residency
Frequently Asked Questions
Can foreigners buy property in Greece?
Foreign-ownership rules are stated above.
Does buying grant residency?
The property-residency link is explained above.
Information is for reference and may change under the latest official policy. Please contact us for current regulations.
