Financing Property in Greece as a Non-Resident Buyer

The four main banks, Piraeus, National Bank of Greece, Alpha Bank and Eurobank, offer residential loans, and some are open to non-resident EU and non-EU buyers. In practice, applicants with income outside Greece need higher deposits and stronger documentation than local employees.

Every buyer must obtain an AFM (tax registration number) and open a Greek account. Non-EU citizens purchasing in some border areas need security clearance, so a lawyer must check whether the property is in a restricted zone.

Second-home loans are less common than loans for a first home.

Loans are usually variable and tied to Euribor plus a margin, with margins historically wider than in northern Europe. Fixed periods of three to five years are offered. Non-residents commonly get 50% to 70% LTV, with terms to 25 years.

Because of lending caution, many buyers purchase with cash and refinance later. Try different rates in our mortgage calculator.

Greek banks demand certified, apostilled documents.

Your lawyer and a civil engineer are as important as the bank.

1. Get an AFM number and open a bank account.
2. Hire a lawyer and run a title check at the land registry.
3. Sign a preliminary agreement and pay a deposit.
4. Apply for finance and order the bank valuation.
5. Sign the final contract before a notary.
6. Register the deed at the land registry or cadastre.

The Golden Visa has had tiered price thresholds, higher in popular areas, and rules have been tightened recently, so check the figure for the area you want. Finance is usually not allowed to count for the threshold unless the property is paid in full, so confirm that with a Greek lawyer.

See apartments, villas and land for the range.

Greek transaction costs are moderate.

Illegal extensions and unregistered buildings are widespread. Your engineer should confirm that the building permit matches what stands. Ask for tax clearance certificates from the seller, and for confirmation of no mortgage on the property.

Banks value Athens, Thessaloniki and well-known islands with more confidence than remote villages. Ferry access, water supply and seasonal rental demand all influence the loan. Properties in listed or archaeological zones can face building limits.

Because the banking system is conservative, many foreign purchasers pay cash and then explore refinancing through a Greek or home-country bank once the title is clear. A cash buyer also negotiates better, since sellers know a loan can fall through. If you do plan a loan, make the contract conditional on approval and keep the deposit modest until the bank commits.

Rental income earned in Greece is taxed at progressive rates, and short-term letting in some areas now requires registration and a licence. Annual ENFIA property tax depends on zone, age and size, and a supplementary tax may apply on larger holdings. A Greek accountant can set up your tax file and avoid late penalties, which are common among first-time foreign owners.

Property-based residence permits have changed thresholds and eligible zones in recent years. Some permits require that the property not be used for short-term rental. Because rules move, the sale agreement should state the price in a way that supports your application, and your lawyer should check the current minimum before you commit.

Expect two to four months from offer to keys, longer if inheritance or co-ownership is involved. Greek properties are often owned by several relatives, and every co-owner must sign or give power of attorney. Build that into your deposit terms, and ask for a penalty clause if the seller cannot deliver a clean title by the agreed date.

Compare prices on the market analysis and read the consultation guide. Lower budgets: cheap homes.