There is a great interest in buying real estate in Greece. For years, Serbian citizens have been among the most numerous foreign property owners in Northern Greece. In the text below, we will answer all your important questions regarding the purchase of an apartment or house in Greece.

Can foreign citizens buy property in Greece?

Citizens of Serbia, as well as citizens of any other country, can become property owners in Greece under the same conditions as Greeks and citizens of the European Union.

Where to find real estate listings?

If you wish to buy property in Greece, it is recommended to first visit some of the most well-known Greek websites such as Spitogatos, Tospitimou, Akinita Hellas, Spiti24. On these websites, you will find a wide selection of properties, as well as information on current square meter prices. Local real estate agencies and property owners also post listings on these websites, so you may come across the same property listed by different agencies, which may vary slightly in price.

The agency we recommend, PB Homes, can conduct the search for you once you explain the type of property you are looking for.

Another option is to search for a local agency while in Greece and inquire about property listings and view properties in person. According to the experience of our guests who have purchased property, this method is the most efficient and fastest. You may also come across signs posted next to the property, allowing you to contact the owner directly.

If you wish to read about the best location to buy property in Greece, you can find more information in this article about buying property in Nikiti and why it is a good decision.

What is the procedure for buying property?

After selecting the property you wish to purchase, make sure to verify that all property documents are in order. This part is usually handled by the agency or lawyer, and the legality of the property is verified in the land registry. You will only need your passport and a tax number obtained from the tax office in Greece (AFM), which will be facilitated by the lawyer or agency representing you.

Is a preliminary agreement and deposit required?

A preliminary agreement is not required, but based on the experience of our interviewees, it is advisable to provide a deposit to the seller. The amount of the deposit varies and is based on the agreement and the price of the property being purchased. When giving a deposit, it is recommended to create a receipt in the presence of witnesses, which can be provided by the agency through which you are purchasing or by the lawyer.

How can payment be made?

After signing the contract, the payment is made according to the agreement with the seller. Based on the experiences of our interviewees, payment can be made through a bank transfer or in cash.

Is proof of the origin of funds required when paying in cash?

Proof of the origin of funds is not required in this case, but it is necessary to declare the funds you are bringing into Greece at the border crossing if you have an amount greater than €10,000 per person in a single vehicle.

What are the costs for the buyer of real estate in Greece?

In addition to the agreed purchase price, there are additional costs that the buyer incurs when purchasing real estate:

  • Property transfer tax - 3% (based on the cadastral value of the property).
  • Mortgage transfer - After both parties sign the contract before a notary, it goes to the Land Registry, where a fee of 0.475% of the agreed price + 24% VAT is charged.
  • Notary fees - approximately 3% (depending on the region and the notary) of the cadastral value of the property.
  • Lawyer fees - starting from €500 for property values up to €50,000. For higher values, it is 1%.
  • Real estate agent fees - depending on the agency, but can be a fixed rate ranging from €1,500 for property values up to €50,000 to 3% of the property price for amounts over €50,000. We advise you to negotiate all these amounts with the agency before purchasing property.

You can read more about the procedure for buying real estate in Greece here.

What is the property tax in Greece?

One of the most common questions is about property tax. Many wonder if the tax is higher for foreigners and how much it is. Property tax in Greece is the same for both its citizens and foreigners. The tax amount depends on the square footage of the property, the year of construction, and other factors such as the presence of an elevator. The tax is around €3.5 per square meter.

PEOPLE’S EXPERIENCES WITH BUYING PROPERTY IN GREECE

We discussed the topic of buying real estate with our collaborators, who own apartments in Greece. They shared their experiences by answering our questions.
Nataša owns two apartments in Nea Iraklia, a town at the very beginning of Halkidiki.
Branislava owns two apartments, in Nea Flogita and Paralia.
Iva owns a maisonette in Skala Potamia on Thassos.
Olivera owns a studio at Olympic Beach.
Divinka owns an apartment in Kriopigi on the first peninsula of Halkidiki.

How large is your apartment and how much did it cost?
Nataša: I own two apartments. The first is 40 m² and cost €17,000 (purchased in 2013), the second was purchased two years ago (2021), 45 m², and cost €50,000. They are in the same building.
Iva: We bought a maisonette of 89 m² and paid €119,000 (in 2022).
Branislava: The first is 61 m² and cost €75,000 fully furnished. The second is 32 m² and cost €50,000, new and unfurnished. Both were purchased in 2022, in February and May.
Olivera: I bought a studio of 27 m² in September 2022 for €45,000.
Divinka: Our apartment is 39 m² and cost €44,000, plus expenses. Altogether around €50,000.

How did you look for the right property? On which websites, and did you also search on site?
Nataša: A friend recommended an agency to us, and we were lucky to find what we were looking for quickly. Later, we helped our friends, and sometimes we saw a listing on the property itself and contacted the owners. We bought the other apartment from a neighbor, a Greek, who didn’t want to list it before asking if we wanted it.
Iva: We searched online and through real estate agencies on Thassos.
Branislava: Exclusively through real estate websites advertising agencies I trusted.
Olivera: A friend already had a property and I roughly knew the conditions.
Divinka: We followed the listings on www.spitogstos.gr, but in the end, we found the apartment through a local agency on site.

How long did it take to find the property you purchased?
Nataša: The first one, almost 10 years ago, we found the next day. When you know what you want and tell the agent clearly, you don’t waste time. The second we bought from the neighbor without searching.
Iva: We monitored listings for a few months and noted what suited us best in terms of price and quality, and when we came to Thassos to view, we quickly decided what we liked most.
Branislava: About 2 months of intensive search via websites.
Olivera: Very short. When I had the money, a friend told me that in the building where she had bought, there was one for sale.
Divinka: In two days we found an apartment we liked on site with the help of a local agency.

What were your purchase requirements? Was distance from the sea important? How far were you looking? Was the age of the property important? Which locations did you consider and why?
Nataša: It was important for us to be in a quiet place, have a sea view, and not be close to the beach because we don’t like noise. Of course, the age of the building near the sea is important, but the quality of construction is more important. We also wanted something closer to the border/Thessaloniki, so the place is lively all year because winter by the sea is also beautiful.
Iva: It had to be within our budget, not more than 500m from the sea, and with the possibility to rent it out, while we could also stay there. The age of the property was not decisive. We looked at Skala Rachoni and places on Golden Beach for the sandy beach and less crowd.
Branislava: My budget was a guideline, balancing distance to the beach, size, and location. Priority was Halkidiki, but the part from Thessaloniki toward Halkidiki was more affordable, which was decisive.
Olivera: Important factors were distance from the sea, whether it was flat or not, and the condition of the apartment and building.
Divinka: It was important that the apartment was not on the ground floor or basement. Distance from the sea wasn’t crucial, nor was the age of the property. The key was not to have major renovation costs. All locations on Kassandra were considered, but tranquility in Kriopigi prevailed.

Did you plan to buy for yourself or for renting? Did you consider a larger area?
Nataša: We did not plan to rent, only for our family’s needs. Functionality was key, 40–45 m² is sufficient for us.
Iva: We wanted a property we could rent, but also stay in ourselves. Luckily, we found a larger maisonette that we can modify to have two parts – one for renting, one for us.
Branislava: The apartment was primarily for family use, but we decided to rent to cover costs and generate some income. So we rent in July and August, off-season we stay ourselves.
Olivera: Bought purely for myself; important that money from selling my house in Serbia went to a property by the sea. The apartment turned out ideal for renting during peak summer months, which I personally avoid.
Divinka: We first looked for a property suitable for us, then for renting. Size wasn’t a priority, only that the bedroom was separate from the kitchen.

In your experience, which part of Greece has the best property offers?
Nataša: Likely due to demand, the best offers are in Halkidiki, then the Olympus region, mainly in northern Greece. Proximity and our tradition to vacation in the Northern Aegean make it most interesting for us.
Iva: We wanted Thassos only. When we searched, the largest offerings were in Limenaria and Skala Kalirachi, but those places didn’t interest us. The best for purchase, in my opinion, is the part of Thassos we were interested in: Golden Beach, Skala Rahoni, and Pahis – high demand and good for renting.
Branislava: Best regions are Thessaloniki, Halkidiki, and Olympus areas – highly sought for rentals. Prices vary greatly. Popular resorts Hanioti, Pefkochori, and Polihrono have unrealistically high prices; Nikiti and Sarti almost no listings. Thessaloniki region: Nea Flogita and Nea Kallikratia – high demand and reasonable purchase prices. Nei Pori and Paralia in Olympus region are in demand; large apartment supply affects rental prices. Nea Flogita surprised me with beautiful sea color, wide beaches, and 24 beach bars. High demand for rentals, low supply as Greeks mainly keep their apartments. Paralia also surprised me – it’s a nice tourist town with varied offerings and a sandy beach, main issue: crowds. Property and rental prices are lower due to supply, not less attractive.
Olivera: I bought via recommendation, so I wasn’t familiar with the best areas.
Divinka: Best offer is in Kassandra. For investment, Sithonia is better for beaches, but properties are significantly more expensive than in Kassandra.

Was there a large selection of properties?
Nataša: Until a few years ago, there was a large selection and low prices. Now supply is smaller, demand higher, and prices rise daily. Our first purchase was “risky”; we didn’t even know if everything would be properly registered.
Iva: Yes, selection was large.
Branislava: Yes, quite a large supply in Greece.
Olivera: At that moment yes, but I chose Olympic Beach.
Divinka: No, it wasn’t.

Can you buy smaller apartments, studios, or only maisonettes and houses?
Nataša: Smaller studios are rare, mostly older buildings needing renovation. One- or two-bedroom apartments exist; maisonettes are rarer and usually new and expensive. Houses vary from small older ones to large new ones.
Iva: On Thassos, few smaller studios/apartments compared to Nea Kallikratia. Smaller units were mostly new or under construction, expensive. Mostly offered were houses and maisonettes, even entire buildings.
Branislava: Smaller units are available, such as studios.
Olivera: I bought a 27 m² studio.
Divinka: Of course, they can.

What was the price range?
Nataša: About 10 years ago, around €500/m², sometimes less.
Iva: Price range was very broad.
Branislava: From €50,000 up to hundreds of thousands.
Olivera: €35,000–70,000.
Divinka: €45,000 to several million.

Were there small separate houses for sale?
Nataša: Yes, they exist, rarely near the sea.
Iva: Yes, but very few, mostly far from the beach.
Branislava: Many available, mostly further from the beach.
Olivera: I didn’t look for houses, only apartments.
Divinka: There were some, but we weren’t interested.

Are there local real estate agencies and did you contact them?
Nataša: Of course. Earlier few, now many. I recommend buying via an agency.
Iva: A few agencies existed, but their offers weren’t suitable.
Branislava: Contacted exclusively local agencies and bought through them.
Olivera: There are agencies, I took a different route.
Divinka: Yes, contacted three different agencies.

What paperwork was needed and was the process complicated?
Nataša: Not complicated. With a passport copy, a lawyer opens an AFM, checks the property, and represents you before the notary. Needed: proof of money transfer to Greece (from customs). Transfer tax (3%) must be paid before contract signing.
Iva: Not very complicated, but a good lawyer is important.
Branislava: Only passport and tax ID (AFM); agency handled everything else. Not complicated at all.
Olivera: Needed valid passport.
Divinka: Lawyer and agent prepare paperwork; you only need a passport.

How long did the whole process take?
Nataša: About a month. Lawyer checks property at the registry, then tax calculated, notary meeting, contract signed, next day registration at cadastre.
Iva: Preliminary agreement signed the same day we found the property. Final contract took ~3 months. 10% deposit left with agency until final signing. Lawyer verified documents. Paid tax, signed final contract.
Branislava: About 1.5 months, agency lawyer verification, deposit, final payment, notarization with translator.
Olivera: One week. First, obtain tax ID, then notary. Need someone who speaks Serbian. My notary was a Serbian woman married to a Greek.
Divinka: 3 months paperwork preparation, we only came for the notary signing.

Did you have to come from your country and why?
Nataša: Must sign contract in person at notary and collect keys.
Iva: Twice – once to search, once to sign contract.
Branislava: Only twice – to choose property and deposit, then final contract.
Olivera: Yes, first week for notarization, second after few months (paid in two installments).
Divinka: Only after choosing property, then signing contract.

Does the lawyer need to know your language?
Nataša: A translator is needed; almoust all lowers speak English..
Iva: Not mandatory, but makes communication easier.
Branislava: Someone from agency should know Serbian to facilitate process and lawyer explanations.
Olivera: Yes.
Divinka: If not, a translator is needed.

How did you find a notary?
Nataša: Lawyer schedules notary, with your consent.
Iva: Found via recommendation.
Olivera: Through agency.
Divinka: Lawyer handles everything.

Was a local agency needed to complete the process?
Nataša: If you contact the seller directly, only a lawyer is needed.
Iva: If through agency, process goes via them; direct deal with owner, agency not needed.
Olivera: Yes.
Divinka: Agent was authorized; we signed final contract through them.

How is payment handled? One-time, installments, bank transfer or cash?
Nataša: Usually full payment at contract signing, bank transfer or cash. No delayed payment typically.
Iva: Paid directly to owner’s account, no installments or cash. Depends on owner.
Olivera: Depends on agreement with owner; I paid in two installments, via bank.
Divinka: Paid in full, via bank account.

What were transfer and other costs?
Nataša: Transfer tax 3%, lawyer €1,000+, notary 3% or €1,000–2,000.
Iva: All costs totaled ~8% of property price.
Branislava: For €75,000 property, costs ~€4,000 (~5.3%).
Olivera: Around €5,000.
Divinka: Around 10% of property price.

Do you think you will recover money from renting and how long?
Nataša: Not thinking this way; renting is a steady income; apartment remains yours.
Iva: People say ~10 years, but main goal was to stay summer months; extra income is bonus.
Branislava: Not expecting to recover much; we use apartment ourselves.
Olivera: About 10 years.
Divinka: Yes, ~10 years.

How much does electricity cost? How much does water cost? Are there any other expenses?
Nataša: Electricity costs more than it does at home, but the base consumption is roughly around 10 euros per month, similar to what we pay at home. The water bill includes a municipal tax (garbage collection, street lighting maintenance, etc.) which is fixed at 130 euros per year, plus the consumption (1m³ = 0.3 euros).
Iva: We bought the property a few months ago, so we haven’t received our first bills yet.
Branislava: Electricity is the largest expense, and during the summer period it amounts to around 1,500 euros. I haven’t seen the water bill yet. I pay about 25 euros per month for internet.
Olivera: Besides electricity, which has become somewhat more expensive, I’m not exactly sure… for my small studio it isn’t costly. I also pay for building maintenance, pool maintenance, cable TV and internet annually, an accountant, and taxes.
Divinka: On the website of the company that supplies us with electricity, I created an account, so I can enter the meter readings myself and receive the bill the next day. Payment is also simple online with our bank card. The price of electricity is higher than at home, so it is a slightly larger expense among the costs. Water is paid once a year, and in our case, the bill for last year was about 100 euros. The tax for last year was around 86 euros, and the accountant’s fee was 50 euros.

How do you pay bills?
Nataša: Most online by card; water annually in Greece.
Iva: First bills not yet arrived.
Branislava: Through accountant, sometimes in person.
Olivera: Accountant handles.
Divinka: Online except water, paid at municipal office.

Satisfied with local agency, lawyer, notary?
Nataša: Completely satisfied.
Iva: Agency okay, but agent slow; lawyer helped speed up process; notary via recommendation, satisfied.
Branislava: Very satisfied.
Olivera: Yes.
Divinka: Yes, satisfied.

Satisfied with entire process?
Nataša: Never regretted.
Iva: Very happy and satisfied.
Branislava: Very satisfied.
Olivera: Yes.
Divinka: Extremely satisfied, best decision ever.

Do you feel at home in Greece?
Nataša: Sometimes feel more at home in Greece than Serbia.
Iva: Greece is my first home, Serbia second.
Branislava: Feels like a second home.
Olivera: Yes, one reason for purchase; Greece is EU, friendly to Serbs.
Divinka: It’s my second home.

Any problems in purchase process?
Nataša: No problems, initially unknown process was slightly intimidating, but sea view makes you forget everything.
Iva: Nothing unsolvable.
Branislava: None.
Olivera: No.
Divinka: No, all went smoothly.

Any advice for future buyers?
Nataša: Hard to advise, but if you want property in Greece, go for it. Better to have your own lawyer protecting your interests, not agency or seller. Cheapest lawyer can be expensive in the end.
Iva: Choose agency and lawyer wisely for smooth process.
Branislava: Trust reputable agencies; they are fast and efficient.
Olivera: Use agent, pay via bank, always be aware in a foreign EU country.
Divinka: Choose suitable property first; lawyer is important; our lawyer Maria and her husband guided us throughout, answered all questions.

How did you furnish the apartments? Did you buy furniture locally or bring from Serbia?
Nataša: Close to Thessaloniki, bought furniture from IKEA; now many buy from Bulgarian companies, same class as Forma Ideale.
Divinka: Ordered from Bulgaria via https://videnov.gr/, very satisfied. Free delivery, assembly extra; we assembled. Furniture arrived in three days. Cost €844 for sofa, bedroom, mattress, TV stand.
Iva: Planning to furnish the apartment.
Branislava: Flogita apartment fully furnished, bought additional for children; Paralia new apartment furnished by agency’s furniture salon.
Olivera: Apartment purchased already furnished.

Do you rent your property and contact info?
Nataša: Yes, contact 069/440 1500.
Iva: Planning, but not yet renting.
Branislava: Yes, contact 063/879 5408.
Olivera: Planning to start soon.
Divinka: Yes, contact 060/353 2262
Facebook: https://www.facebook.com/Apartman-Mare-Grčka-Kasandra-105121655341526/
Instagram: https://instagram.com/apartman_mare_kassandra_greece

Explore the complete process of buying property in Greece through our detailed guides:
Buying Property in Greece – a clear, step-by-step introduction to the entire process, including taxes, costs and ownership obligations.
Buying an Apartment or House by the Sea in Greece – Real Experiences – real buyer stories, practical examples and advice based on first-hand experience.
Buying Property in Greece: Key Professionals – Lawyer, Notary and Engineer - - find out what roles each expert plays in the process of buying real estate in Greece and why they are necessary.
10 Biggest Mistakes Foreigners Make When Buying Property in Greece - - important for you to know!
Work Permits and Property Purchase in Greece – an overview of residence and work permit options and how they connect to property ownership.
Where Is the Best Place to Buy Property in Greece? – an analysis of the most popular regions, with recommendations based on budget and intended use.
Buying Real Estate Near Thessaloniki - Tips and Recommendations - a practical guide to the most attractive areas around Thessaloniki
Greek Golden Visa – a complete guide to the investment requirements, application process and benefits of the Golden Visa program.
Working from Greece: A Guide for Digital Nomads – a detailed overview of residence and visa options for digital nomads who want to live and work in Greece.

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