Buying Property in Greece
How Much Does It Cost to Buy Property in Greece in 2026?
Taxes, Fees & Closing Costs Explained
The advertised price of a property in Greece is not the total amount a buyer should expect to invest. This guide sets out the acquisition costs that sit above the asking price, which of them are fixed by law, which vary with the transaction, and how to calculate the capital you should realistically budget before making an offer.
A €250,000 property does not require only €250,000 of available capital.
The advertised price is not the total investment.
Property transfer tax, notarial fees, registration costs, legal and technical due diligence, brokerage fees and, in some cases, translation, banking or financing expenses all need to be considered before deciding whether a property fits your budget.
For international buyers in particular, understanding the total acquisition cost is essential.
A property may appear attractive based on its asking price or projected rental yield, but the investment picture can change once all acquisition and setup costs are included.
In this guide, we explain the main costs of buying property in Greece in 2026, which costs are fixed by law, which vary according to the transaction, and how to calculate the amount of capital you should realistically budget before making an offer.
If you are at an earlier stage of the process, start with our complete guide for foreign buyers.
The Short Answer: How Much Should You Budget Above the Purchase Price?
There is no single percentage that applies to every property transaction in Greece.
For planning purposes, however, an international buyer purchasing a typical residential property should generally expect several percentage points of additional acquisition costs above the agreed purchase price.
For many transactions, a realistic initial planning allowance may fall somewhere around 6%–10% of the property price, before renovation, furnishing or financing costs.
The percentage can be lower in a relatively simple transaction without buyer-side brokerage or extensive professional work, or exceed 10% where brokerage commissions, complex legal or technical due diligence, translations, powers of attorney, financing or other services are involved.
This is why we do not recommend using one fixed percentage when evaluating an investment.
At Golden Property, we prefer to calculate:
Total Capital Required
That is the figure against which an investment should ultimately be evaluated. You can run this calculation for your own budget in the acquisition budget calculator at the end of this article.
Property Transfer Tax in Greece
For most property purchases subject to Greek Real Estate Transfer Tax, the buyer pays a main transfer tax of 3% of the taxable property value.
An additional municipal levy equal to 3% of the main transfer tax is imposed, bringing the effective burden to approximately 3.09%. The buyer is responsible for paying this tax before completion of the transfer.
For example, assuming a taxable value of €250,000:
€250,000 × 3.09% = approximately €7,725
On €500,000:
€500,000 × 3.09% = approximately €15,450
The taxable value used for the transaction must be confirmed for the individual property and should not simply be assumed to equal the online asking price.
Is there a first-home exemption?
Greek legislation provides a transfer-tax exemption for qualifying purchases of a primary residence.
However, the exemption is subject to several conditions relating to the buyer, existing property ownership, family circumstances and residency status.
For example, AADE currently states exemption limits of up to €200,000 for an unmarried qualifying buyer and €250,000 for a married qualifying buyer, with additional allowances in certain family circumstances.
Importantly for foreign purchasers, not every non-resident automatically qualifies. The legislation defines specific categories of eligible buyers and generally requires permanent residence in Greece or an intention to settle in Greece within two years.
International buyers should therefore confirm eligibility before including a first-home exemption in their financial calculations.
What About VAT on New-Build Properties?
This is particularly relevant for buyers considering newly constructed developments.
Historically, certain new-build property sales could be subject to 24% VAT instead of property transfer tax.
However, Greece's suspension of VAT on qualifying new-build property transactions has been extended until 31 December 2026.
Where the applicable suspension has been elected by the developer, property transfer tax applies instead of VAT.
This can make a substantial difference to acquisition costs.
However, buyers should never assume that a specific new-build property automatically falls under the suspension.
Before making an offer, confirm with the developer, notary and tax adviser:
- whether VAT would ordinarily apply;
- whether the developer has opted into the suspension;
- which tax will apply to the specific unit;
- and what taxable value will be used.
For larger transactions, this should be confirmed before the investment model is finalised.
Notary Fees
A Greek property transfer must be completed through a notarial deed, making the notary one of the essential professionals involved in the transaction.
Notarial remuneration is calculated using a sliding scale based on the transaction value rather than one universal flat percentage.
The statutory scale begins at approximately 0.80% for the portion of value up to €120,000, with progressively lower marginal percentages for higher-value portions. VAT at the standard Greek rate is also charged on the professional fee, together with certain additional costs relating to copies, pages and documentation.
As a practical planning estimate, notarial costs for many residential transactions are often around approximately 0.8%–1.2% of the property value including VAT and related charges, although the effective percentage tends to vary with the property's value and the complexity of the deed.
For serious budgeting, request a written estimate from the notary once the property and transaction value are known.
Lawyer and Legal Due Diligence Costs
The presence of a lawyer at the final signing of a Greek property deed is no longer legally mandatory.
That does not mean that purchasing without independent legal due diligence is advisable.
For an international buyer, the lawyer typically examines matters such as:
- ownership and title history;
- mortgages and other encumbrances;
- claims or seizures affecting the property;
- rights of third parties;
- cadastral registrations;
- contractual documentation;
- and potential legal issues that may affect the acquisition.
Legal fees in Greece are generally agreed between the lawyer and the client and depend on the scope and complexity of the transaction.
For preliminary budgeting, buyers sometimes use approximately 0.5%–1.5% of the transaction value plus VAT, but this should only be treated as an indicative market range.
A lawyer may instead quote a fixed amount.
More complex transactions — for example involving multiple sellers, inheritance history, corporate ownership, unusual titles or unresolved cadastral matters — can require significantly more work.
This is not an area where we recommend choosing purely by price.
Saving €1,000 on legal due diligence while committing €300,000, €500,000 or €1 million to an unfamiliar property market rarely represents intelligent risk management.
Engineer and Technical Due Diligence
Legal ownership is only one part of the picture.
Before acquiring property in Greece, particularly an older property, the buyer should also understand its technical and planning status.
An independent engineer may review issues including:
- whether the existing layout corresponds with approved plans;
- potential unauthorised constructions or modifications;
- building permits;
- technical documentation;
- structural or visible defects;
- renovation requirements;
- land or plot information where relevant;
- and whether the buyer's intended future use is technically feasible.
Technical inspection costs vary considerably depending on the property.
A straightforward apartment inspection may cost several hundred euros, while villas, plots, commercial properties, development projects and technically complex assets can require considerably more extensive work.
There is therefore no responsible universal percentage.
At Golden Property, we consider this a property-specific due-diligence cost, not simply an administrative expense.
For an investor, the engineer's findings can also directly affect the negotiation.
If a property requires €40,000 rather than €15,000 of work, that difference changes the economic value of the acquisition.
Hellenic Cadastre and Property Registration Costs
Signing the deed is not the final administrative step.
The acquisition must also be properly registered with the competent property registration system / Hellenic Cadastre.
Registration involves fixed and proportional fees depending on the transaction and registered right.
The Hellenic Cadastre itself confirms that its charges can include both fixed fees and proportional fees calculated by reference to the transaction value.
As a planning assumption, buyers will often see approximately 0.5%–0.8% of the property value allocated for registration-related costs, but the exact amount should be calculated for the individual deed.
Greek property transfers are also becoming increasingly digital. The Digital Property Transfer File allows qualifying transactions to be processed electronically with the notary, while cadastral submissions are now predominantly handled digitally.
Real Estate Agency Commission
Real estate brokerage fees are not a government tax.
They are commercial fees agreed between the client and the real estate agency.
In Greece, a buyer may have an obligation to pay brokerage commission depending on the brokerage agreement and how the transaction was introduced or represented.
A commonly encountered market structure is around 2% of the purchase price plus 24% VAT, although commissions can be higher, lower, fixed or structured differently depending on the property and the service provided.
Therefore, do not automatically add 2% to every property calculation.
Instead ask:
Does this specific acquisition involve a buyer brokerage fee, and what has been agreed in writing?
If the agreed buyer fee is 2% plus VAT, the cost would be:
| Purchase Price | 2% Brokerage | VAT 24% | Total |
|---|---|---|---|
| €250,000 | €5,000 | €1,200 | €6,200 |
| €500,000 | €10,000 | €2,400 | €12,400 |
| €1,000,000 | €20,000 | €4,800 | €24,800 |
This is one reason acquisition costs can vary significantly between two otherwise similar purchases.
AFM, Accountant and Administrative Costs
A foreign buyer needs a Greek Tax Identification Number — AFM — in order to complete the tax procedures connected with a property acquisition.
AADE confirms that a Greek tax number is required when purchasing property in Greece.
Obtaining the AFM itself is not a major acquisition cost.
However, international buyers may choose to engage an accountant, lawyer or other representative to assist with:
- AFM registration;
- myAADE access;
- tax representation where appropriate;
- E9 property registration;
- annual tax obligations;
- rental-income reporting;
- or setting up the correct ownership structure.
These professional fees vary considerably according to the buyer's circumstances.
For investors planning to generate rental income immediately after acquisition, we recommend discussing the post-purchase tax structure before completing the purchase, not several months afterwards.
Translation, Power of Attorney and Apostille Costs
Foreign buyers may also incur additional administrative costs that Greek resident purchasers do not always face.
These may include:
- certified translations;
- interpreters;
- notarised powers of attorney;
- apostille or document legalisation;
- certified copies;
- courier costs;
- and consular documentation.
If the buyer does not speak Greek and attends the notarial signing personally, interpretation may also be required because the Greek purchase deed is executed in Greek.
For a straightforward transaction these costs may be relatively modest.
For a buyer purchasing entirely from abroad through a Power of Attorney, or where multiple foreign documents must be legalised and translated, the cost can become more significant.
Banking and Currency-Exchange Costs
This is frequently overlooked by international buyers.
If your funds are held in pounds sterling, US dollars, Swiss francs or another non-euro currency, the exchange rate and transfer method can affect the real purchase cost.
On a €500,000 transaction, even a 1% difference in currency-conversion cost equals €5,000.
Buyers should therefore compare:
- bank transfer charges;
- exchange-rate spreads;
- international transfer fees;
- source-of-funds requirements;
- and the timing of currency conversion.
The payment trail must also be organised correctly for the property transaction.
This should be discussed early with the relevant bank, lawyer and notary rather than immediately before signing.
Mortgage and Financing Costs
If you are financing the acquisition through a mortgage, the cash purchase costs above are not the full picture.
Depending on the bank and financing structure, additional costs may include:
- property valuation;
- banking arrangement fees;
- legal review;
- mortgage registration;
- insurance;
- and additional notarial or registration expenses.
Mortgage costs should therefore be calculated separately from the basic property-acquisition budget.
Foreign buyers should also confirm financing availability before making their purchase strategy dependent on a Greek mortgage.
Renovation and Furnishing: The Cost That Changes the Investment
Technically, renovation is not a closing cost.
Financially, however, it can be one of the most important acquisition costs.
Consider two properties:
Property A
Purchase price: €250,000
Renovation required: €60,000
€310,000
Capital required before furnishing and setup
Property B
Purchase price: €285,000
Renovation required: €15,000
€300,000
Capital required before furnishing and setup
Property A initially appears €35,000 cheaper.
Once required works are considered, Property B may actually require less capital and be available for occupancy or rental considerably sooner.
The same applies to furniture and equipment.
An investment property intended for furnished mid-term or short-term rental may need:
- furniture;
- appliances;
- lighting;
- air conditioning;
- mattresses and linen;
- kitchen equipment;
- internet installation;
- photography;
- and operational setup.
This is why we never assess an investment property solely on purchase price.
Worked Example
Example: What Does a €250,000 Property Really Cost?
Consider an international buyer purchasing a €250,000 resale apartment.
For illustration only, assume:
| Cost | Example |
|---|---|
| Purchase Price | €250,000 |
| Transfer Tax at approx. 3.09% | €7,725 |
| Estimated Notary Cost | ~€2,400 |
| Estimated Registration Costs | ~€1,250 |
| Legal Due Diligence – assumed 1% + VAT | ~€3,100 |
| Buyer Brokerage – assumed 2% + VAT | €6,200 |
| Technical Inspection | ~€800 |
| Translation / Administration | ~€500 |
| Indicative Total | ~€271,975 |
The same property, two transaction structures. Buyer-side brokerage alone moves the acquisition cost from roughly 6.3% to close to 9% of the purchase price.
In this example, the buyer requires approximately €22,000 above the purchase price, or close to 9% additional capital.
But notice what happens if there is no buyer-side brokerage fee.
The acquisition costs fall to approximately €15,800 — around 6.3% of the purchase price.
This is exactly why saying “Buying costs in Greece are always 10%” is too simplistic.
The correct number depends on the transaction.
Example: Buying a €500,000 Property
Using broadly similar assumptions:
| Cost | Example |
|---|---|
| Purchase Price | €500,000 |
| Transfer Tax at approx. 3.09% | €15,450 |
| Estimated Notary Cost | ~€4,400–€4,800 |
| Estimated Registration | ~€2,500–€3,000 |
| Legal Fee – assumed 1% + VAT | ~€6,200 |
| Buyer Brokerage – assumed 2% + VAT | €12,400 |
| Technical Inspection | ~€1,200 |
| Translation / Administration | ~€800 |
| Indicative Total Capital | ≈€543,000–€544,000 |
Again, this is an illustration rather than a quotation.
Every professional fee should be confirmed before the buyer commits.
What Costs Continue After You Buy?
The financial analysis should not stop at completion.
Property owners in Greece can also face ongoing costs including:
ENFIA
Greece imposes an annual property ownership tax known as ENFIA. Foreign residents who own property in Greece are subject to the Greek property-reporting framework in the same way as Greek residents. AADE also notes that E9 property details may now be created automatically where the transfer-tax declaration has been processed digitally through myPROPERTY. The exact ENFIA amount depends on the characteristics and tax value of the property.
Building Common Charges
Apartment owners may pay monthly common expenses covering services such as building cleaning, lift maintenance, common electricity, heating, building management and repairs.
Insurance
Insurance is another expense that should be considered, particularly for investment properties and higher-value residences.
Maintenance
Even newly renovated property requires ongoing maintenance. Investors should include an annual maintenance reserve when forecasting net returns.
Property Management
Owners living abroad may also require professional property management, particularly when the property is being rented. This cost should be included in the investment model from the beginning. Rental operations for our clients are handled through Golden BnB.
Gross Yield vs Real Return
Acquisition costs matter because they directly affect investment returns.
Suppose a property costs €250,000 and generates €15,000 of gross annual rent.
Same rent, same property — a different denominator. And that is still gross.
Based on purchase price
€15,000 / €250,000
6.00%
Advertised gross yield
Based on total capital invested
€15,000 / €290,000
5.17%
After acquisition, renovation and setup
And that is still gross, before operating expenses, management, maintenance, tax and vacancy.
This is why Golden Property evaluates investments using total capital invested, rather than simply dividing advertised rent by advertised purchase price.
A superficially attractive yield can change considerably once the entire transaction is modelled properly.
Which Purchase Costs Are Negotiable?
It helps to divide costs into three categories.
Statutory Costs
Generally not negotiable
- property transfer tax;
- applicable VAT;
- statutory registration charges;
- government fees.
Professional Costs
Agree before work begins
- lawyer;
- engineer;
- accountant;
- brokerage;
- translator;
- additional advisory services.
Property Costs
Depend entirely on the asset
- renovation;
- furniture;
- repairs;
- equipment;
- utility setup;
- insurance.
The most useful question is therefore not “What percentage are buying costs in Greece?”
What are the complete costs of acquiring and preparing this particular property for my intended use?
How to Avoid Underestimating Your Budget
Before making an offer, we recommend preparing a simple acquisition budget containing:
- Agreed purchase price
- Applicable transfer tax or VAT treatment
- Notarial fees
- Legal fees
- Technical inspection
- Registration costs
- Brokerage commission, if applicable
- Translation and administrative costs
- Financing or foreign-exchange costs
- Immediate repairs or renovation
- Furniture and setup
- Contingency reserve
Only after these items are included can you see whether the property truly fits the budget. The calculator below builds exactly this list for your own figures.
Acquisition Budget Calculator
Calculate the Real Cost of Your Own Purchase
Enter the price of the property you are considering. The calculator applies the same structure used throughout this article and returns the total capital required, not the listing price. Every assumption is editable — change any percentage to match the quotes you have actually received.
The property
Statutory costs
Professional costs
Works and setup
Optional — rental analysis
—
Gross yield on purchase price
Real gross yield on total capital invested
This calculator is a planning tool, not a quotation. Transfer tax is applied to the value you enter, which may differ from the taxable value confirmed for the individual property. Legal and brokerage percentages are calculated with VAT added; notary and registration are entered as all-in percentages. Exemptions, VAT treatment on new-builds, financing and currency-exchange costs are not modelled. Confirm every figure with the notary, lawyer, engineer and tax adviser involved in your transaction.
The Golden Property Approach
At Golden Property, we do not consider the asking price to be the investment cost.
When assisting an international buyer, our objective is to evaluate the property within the context of the entire acquisition.
That can include:
- property sourcing;
- market comparison;
- commercial evaluation;
- negotiation support;
- coordination with lawyers, engineers and notaries;
- renovation and setup considerations;
- rental strategy;
- expected income;
- operating costs;
- and potential exit strategy.
For an investor, the question is not simply whether a property can be purchased.
It is whether the property makes sense after all the numbers are included.
Investment Brief
Planning to Buy Property in Greece?
Before deciding how much property you can afford, calculate the real acquisition budget — not simply the listing price.
If you are considering purchasing property in Greece, send us:
- your available budget;
- preferred location;
- type of property;
- intended use;
- and investment objective.
Golden Property can help you identify, evaluate and acquire suitable properties in Greece while coordinating the commercial and professional elements of the transaction.
Frequently Asked Questions
How much tax do you pay when buying property in Greece?
For transactions subject to property transfer tax, the current main tax rate is 3%, plus a municipal levy equal to 3% of the main tax, resulting in an effective burden of approximately 3.09%.
Do foreigners pay more tax when buying property in Greece?
The standard property transfer tax is not generally increased simply because the buyer is foreign. However, eligibility for exemptions and the administrative process can differ depending on residency and legal status.
Do I have to pay 24% VAT on a new property in Greece in 2026?
Not necessarily. The Greek government has extended the suspension of VAT on qualifying new-build property transactions until 31 December 2026, where the relevant developer has elected the suspension. The tax treatment of the specific property must therefore be confirmed before purchase.
How much are notary fees in Greece?
Notarial fees are based on a statutory sliding scale and vary according to transaction value and documentation. For budgeting purposes, the overall notarial cost often represents roughly around 1% of the property value, but the notary should provide the exact calculation for the transaction.
Is a lawyer mandatory when buying property in Greece?
A lawyer's presence at the final deed is no longer legally mandatory, but independent legal due diligence is strongly recommended, particularly for foreign buyers.
How much money should I have available for a €250,000 property?
Do not assume that €250,000 is sufficient simply because that is the asking price.
Depending on brokerage, professional fees and the condition of the property, the acquisition may require roughly €265,000–€275,000 or more before renovation and furnishing.
The exact calculation should always be prepared for the individual property.
The information in this article is general and reflects rules and market practices reviewed for 2026. Professional fees vary by provider and transaction. This article does not constitute legal, tax, immigration or investment advice. Buyers should obtain property-specific advice from the appropriate qualified professionals before entering into a transaction.