Currently, Greece property prices are relatively low compared to those in some other European countries, which makes Greece very attractive for capital investment. Moreover, Greek living standards are much higher than, in Bulgaria or in Montenegro, while the crime rate is extremely low. Main benefits of buying a property and residing in Greece are safety and serenity, rich history and ancient monuments, warm Mediterranean climate and locals speak fluent English.
Foreign investors can apply for the Greece Residence Permit (Greece Golden Visa), which allows Greece permanent residence, in a European country. To be eligible for High Net Worth Immigration to Greece, Investors just need to buy a property valued at 250,000 Euros, and they can include their family members and dependents in the application. Therefore, buying property in Greece is a fast and efficient method of obtaining the Greece Residence Permit for High Net Worth Individuals from non-EU countries.
Outlined below are Greece Regions popular with foreign property buyers:
The Attica region comprises diverse landscape, with mountains, beautiful beaches, and historical monuments. Athens is the main city of the peninsula, and the whole country and is the capital of Greece. Today this metropolis is the heart of economic and cultural life in the country. Millions of travelers and tourists from all over the world visit Athens every year to see numerous cultural and historical monuments, the most popular of which is Acropolis. The Attica region includes the following cities:
- Eastern and Western Attica
Northern Greece (Western, Northern and Eastern Macedonia)
The Northern Greece region is famous for Mount Olympus, and Thessaloniki, the second largest city of Greece. Thessaloniki is famous for its sea-port which ranks the second (by its freight turnover) after Athens and plays a vital role in Greek economy. The city is also known for its rich historical heritage and its modern cultural life. The Northern Greece region includes the following cities:
- Halkidiki Peninsula
- Kavala and Thassos Island
- Pieria (Litochoro, Katerini)
Central Greece and Thessaly
The Central Greece and Thessaly region has a varied climate – dry and mountainous inland and mild on the coast. The contours of its landscape, too, are very diverse: thickly wooded green slopes, hills with pines, oaks, poplars and fast-moving streams separated by flat lands, plateaus and lakes. Delphi is among Greece’s most visited cities for its archaeological site, ancient footpaths and vistas of the Corinthian Gulf. Similarly, Meteora is very popular for archaeological sites and rocky towers. The Central Greece and Thessaly region includes the following cities:
- Delphi and Parnas mountain region
- Euboea Island
- Magnisia, Kardiza, Larissa
- Meteora Monasteries
The Peloponnese region is the region with the richest history in Greece – many of the legendary towns and heroes from Greek mythology are all related to places on this peninsula. Geographically, the region is very diverse, including high mountains, rivers, lakes, fertile valleys and long sandy beaches. Argolis is known as the historical site of Mycenae, Larissa Castle, and Epidaurus, with its Grand Theater. The Peloponnese region includes the following cities:
- Arcadia and Argolida
- Laconia and Messenia
Crete Island region
Crete is in the southern part of the Aegean Sea, the largest island in Greece, and the fifth largest island in the Mediterranean Sea. Here, you can admire the remnants of ancient civilizations, explore glorious beaches, impressive mountains, fertile valleys and steep gorges. The region of Chania, on the western side of the island, is dominated by the impressive White Mountains, and its famous National Park. The Crete Island region includes the following cities:
Ionic Islands region
The Ionian Islands are situated in the western coastline of Central Greece, an island cluster comprising twelve small and large islands whose total surface area comes to 2,200 square kilometers. Zakynthos, Ithaca, Corfu (Kerkyra), Kefalonia, Lefkada, and Paxi are the six, large Ionian Islands. The Islands are popular with tourists who enjoy the excellent hotel accommodation, restaurants, diving centers, sea sports, cultural events, and historic monuments and museums. The Ionian Islands region includes the following cities:
- Corfu (Kerkira)
- Lefkada, Zakinthos
Aegean Islands region
The Aegean Islands include the islands of Crete, Rhodes, Samos and Santorini, have historically been the main wine-producing region in Greece. The Aegean Sea covers an area of more than 83,000 square miles. Santorini is the most famous wine-producing island, renowned for its dry, minerally white wines made from Assyrtico. In addition, the Aegean Islands are known for steep terraces, wedged into the mountainside, known as pezoules. The Aegean Islands region includes the following cities:
- Cyclades: Andros, Paros, Milos, Santorini, Mykonos
- Dodecanese: Rhodes
Steps To Buy Property in Greece
Non-Greece citizen Buyers must comply with the following procedures:
1. Drawing of a Power of Attorney – Completed by a Greek Notary, in the presence of an accredited translator (compulsory). This Power of Attorney authorizes the lawyer whose name is stated in this document to act on the foreigner’s behalf and draw up and execute the property purchase Agreement.
2. Registration as Taxpayer and opening of Bank account in Greece – The authorized lawyer, acting in the name and on behalf of his principal (buyer), registers him as a tax payer in Greece and opens a bank account in a state bank (in the buyer’s name).
3. State Property Registry checks – The Greek Lawyer thoroughly checks the state Property registry for the property history and for other details (such as existing or previous mortgages, encumbrances or other charges, existing and previous contracts and agreements concerning the property). After the lawyer completes the property checkup, he draws a report, signs and certifies it and delivers it to the prospective buyer.
4. Title Transition Tax statement – The Greek Lawyer draws a Title Transition Tax statement and submits it to the local tax body.
5. Principal Property Purchase agreement – Both parties (Buyer and Seller) sign the Principal Property Purchase agreement, in the presence of a Notary and an accredited translator. After the agreement is signed, the lawyer registers it in the State Property Registry which is the final, and compulsory stage of the property purchase transaction.
6. Buyer Receives All Documentation – After the Principal agreement is signed, the Buyer receives all the documentation, which are duly notarized and translated into their native language, along with the Construction Permission, Power Consumption Certificate, Property layout plan and its topographical plan.
Documents Required for Greece Property Purchase
Since 2011, the property purchase procedure in Greece has been simplified, and is now very fast and efficient. It can take only 10 working days until you receive full title of certain Greek properties.
Registration of Real Estate – Documents required:
- Valid international Passport
- Valid Tourist or Business visa that allows entry to Greece
Opening a Bank Account in Greece – Documents required:
- Valid Tourist or Business visa that allows entry to Greece
- Document confirming permanent residence (Passport of the country of residence)
- Letter of employment confirmation (official document confirming the main professional activity of a potential buyer)
- Copy of the recent tax return
Greece Residence Permit
For information about the Greece Residency by Investment – Residence Permit (Greece Golden Visa) to become a Greece Permanent Resident (High Net Worth Immigration to Greece), eligibility criteria, and how our Immigration Consultants can assist you, click on the following VisaConnect website page: