What to Check Before Buying Property in Greece

Thinking about buying a home or an investment property in Greece?

Buying property is an important decision, whether you are looking for a home to live in or an investment opportunity. Before moving forward with a purchase, there are several key aspects worth examining carefully in order to avoid legal or financial issues later on.

Below are some of the most important points to consider before buying property in Greece.

1. Legal property check

One of the most important steps before purchasing a property is verifying the ownership titles.

This check is usually performed by a lawyer and includes:

• confirming that the seller is the legal owner

• checking for mortgages or liens

• checking for legal claims or debts attached to the property

• confirming that the property is properly registered in the Land Registry or Cadastre

A proper legal check helps protect the buyer from potential issues after the purchase.

2. Urban planning and technical inspection

Even if a property looks perfect at first glance, it should also be inspected from a technical perspective.

A qualified engineer can check:

• the building permit

• possible unauthorized constructions

• whether any irregularities have been legalized

• the energy performance certificate

• the building identity documentation

Urban planning issues are among the most common matters that can arise during property transactions in Greece.

3. Evaluating the real value of the property

The price of a property depends on many factors beyond just square meters.

Before purchasing, it is useful to examine:

• property prices in the surrounding area

• access to transport, schools and services

• the condition of the building

• demand in the local real estate market

• future development prospects in the area

A proper valuation helps buyers avoid overpaying for a property.

4. Understanding the total purchase costs

Besides the purchase price, there are additional costs that buyers should consider.

Typical expenses include:

• property transfer tax (approximately 3%)

• notary fees

• lawyer fees

• engineer inspection fees

• real estate agent commission

• land registry registration fees

In total, buying costs usually amount to around 7%–10% of the property value.

5. Preliminary agreement and deposit

In many cases, a preliminary agreement is signed before the final contract.

This agreement usually defines:

• the main terms of the transaction

• the timeline until the final contract

• the deposit paid by the buyer

Deposits typically range between 5% and 10% of the agreed price.

6. Tax and banking procedures

To purchase property in Greece, several administrative steps are required.

Buyers will usually need:

• a Greek tax identification number (AFM)

• payment of the transfer tax before the contract signing

• a bank account in Greece (in some cases)

• a bank transfer for the purchase payment

These steps are necessary for completing the transaction legally.

7. The final purchase contract

The property transfer is completed through a notary.

After signing the contract:

• the deed is registered in the Land Registry

• the buyer becomes the official owner of the property

At this point the property transaction is formally completed.

8. Additional considerations for investors

For buyers who are purchasing property as an investment, additional factors should also be evaluated.

These include:

• rental demand in the area

• potential for long-term or short-term rentals

• return on investment

• future resale value

Choosing the right property can significantly influence the long-term performance of an investment.

Why professional guidance matters

Buying property involves several steps and cooperation with professionals such as lawyers, engineers and notaries.

An experienced real estate advisor can help coordinate the process, identify potential issues early and guide buyers through each stage of the purchase.

The team at Resido can assist you throughout the process, whether you are searching for a home or exploring investment opportunities in Greece.

If you would like to learn more about available properties or discuss your plans, feel free to contact us by phone or via WhatsApp or Viber.