How Retirees Can Buy Property in Greece – Complete Guide

Many people dream of moving to Greece after retirement because of a land rich with history, hospitality, and Mediterranean charm. From vibrant cities to laid-back villages to picturesque islands, Greece offers an idyllic lifestyle that continues to attract retirees from across the globe.

Many expats prefer to buy their own property to move to Greece and live in peace and tranquility. Greece continues to attract retirees worldwide thanks to the top retirement benefits it offers, from climate to cost of living. However, one pressing question remains for many who are considering this dream: Can you buy property in Greece as a retiree? 

The short answer is yes, and we’ll show you how.

Can Foreigners Buy Property in Greece?

Yes, foreigners, including retirees, can buy property in Greece, and there are no broad restrictions for most nationalities. Citizens of EU countries face no limitations whatsoever. If you're a non-EU national, there might be specific considerations when purchasing near borders or islands, but these are manageable with legal support.

Understanding the property laws for foreigners is crucial. While Greece welcomes international buyers, following the proper legal procedures or seeking help from Relocation services for retirees is important to ensure a smooth and secure transaction.

Step-by-Step Guide to Buy a Retirement Home in Greece 

Any foreigner can purchase property in Greece as there are no major restrictions. However, navigating the legal system on your own can be complex. It’s strongly advised to work with a legal expert to ensure a smooth and secure transaction. Here’s a simplified outline of the process to purchase your dream retirement home in Greece.

1. Required Documents

To purchase a property in Greece you will be required to present the following documents: 

• A valid passport or EU ID card

• AFM (Tax Identification Number) - that can also be issued before your relocation to Greece

  • The process can be done online or at the local tax office

  • You’ll be able to obtain login credentials for the “TAXIS” system, which are needed to complete the transaction electronically

2. Start with Careful Research

Begin by deciding the type of property that fits your needs. Whether it’s an apartment, villa, country house, or commercial space, knowing your preference is the first step.

Use both online listings (for example on Spitogatos) and local publications like newspapers to gather property details. Subscribing to real estate websites in Greece can also help you stay updated. A local real estate agent can offer added support and save you valuable time.

Not sure about where to start looking? Read our article about 15 top destinations to retire in Greece.

3. Schedule a Property Visit

There’s no substitute for visiting the property in person. Once you’ve shortlisted options, plan a trip to Greece to see them firsthand.

Take time to walk through the home, assess the condition, and check the surroundings. Is the neighbourhood safe? Are the amenities nearby? A local guide can be helpful and make the process smoother.

4. Make an Offer

After viewing all potential properties, narrow it down to the one that fits your lifestyle, expectations. If needed, plan a second visit for extra peace of mind.

Agreeing on a price is a key step: remember that not all sellers base only on market pricing, and sentimental value has a big role in Greece. On the other hand, it may be possible to find some very good deals for inherited properties that are no longer in use. Set your value and be ready to negotiate.

Your offer is accepted? Congratulations! But many important steps lay ahead. At this stage, it becomes key to hire external help to review carefully the property before making any further steps, first and foremost a lawyer.

5. Reserve the Property

Paying an initial deposit is common, but not mandatory. The reason for it is that it may take some months to fully execute the legal and technical due diligence (see below).

That said, an important reminder is due:

Never make a payment without a pre-agreement checked by your lawyer and duly notarised. This has no legal validity and it will be very challenging to recover your funds.

6. Run Due Diligence

Hiring a lawyer is key for the legal due diligence, including title searches, checking for outstanding mortgages or liens. It is also required for the transaction itself. They will also make you aware of important considerations regarding which rights you have on the property. For example, if it is designated Alpha by the Greek government (historic), it may be very challenging to get planning permissions to make any changes to its structure and aesthetics.

An engineer will be able to run a more practical due diligence, cross checking for aspects related to building regulations and urban planning. Many properties in Greece have been built irregularly, which may restrict their use, resale or lease, or even create some future liabilities.

7. Pay the Outstanding Taxes

Once the searches are completed, you will be asked to pay a transfer tax (FMA), equivalent to 3.09% of the property value. Please note that this is not necessarily equal to the price you are paying, and it depends on size, location and other technical aspects.

8. Finalize the Contract

At this stage, it is time to sign the official contract.

You will need to hire a public notary, who will prepare the final deed, and you’ll sign the agreement in their presence. Once signed, it is registered with the local land registry, and the Notary will notify the tax authorities.

At this stage, any settlement will take place. Make sure you have the liquidity ready, and plan ahead in case of large international transactions and currency conversions.

What Are the Costs and Taxes When Buying a Home in Greece?

Here are some expenses you’ll encounter when buying property.

• Property Transfer Tax: 3.09%

• Notary Fees: Around 0.65-1% + VAT

• Lawyer Fees: Usually 1% + VAT

• Real Estate Agent Commission: Typically 2% to 4% for luxury agents

You’ll also pay an annual ENFIA property tax, based on the size, location, and value of the property.

Pro Tip: After purchasing your dream home, understanding how to settle down in Greece post-retirement is key to a smooth transition into local life.

Final Thoughts

Buying your own property can be smart if you’re looking to move to Greece after retirement. The country offers not just an affordable lifestyle, but also a profound sense of peace and belonging. The process is straightforward if you follow legal guidance, and the investment may even lead to a European residence permit through the Golden Visa.

Whether you're retiring from the U.S., the U.K., Canada, or elsewhere, Greece provides an ideal mix of value, beauty, and opportunity. With a retirement home in Greece, you are investing in a better way of life with perfect real estate.

Thinking about making Greece your next home? Get in touch and let's discuss how we can make your dream a reality.