Buying Guide

Total transaction costs are high in Greece


How high are realtors’ and lawyers’ fees in Greece? What about other property purchase costs?



    Who Pays?
Transfer tax 8%- 10% buyer
Registration fees 0.475% (+ 23% VAT) buyer
Notary fees 0.65% - 1% (+ 23% VAT) buyer
Legal fees 0.40% - 1% (+ 23% VAT) buyer
Real Estate Agent Fee 1% - 2.5%
1% - 2.5%
Total costs paid by the buyer: 5.88% - 8.54%  
Total costs paid by the seller: 1.00% - 2.50%

How difficult is the property purchase process in Greece?

EU nationals can freely purchase property in Greece, while there are a few restrictions for non-EU nationals. Acquiring property near military bases, national borders – mainly for security reasons, especially those close to Turkey - and in some islands requires special permission from the Local Council. Such permission is not granted to non-EU nationals.


The importation of funds for real estate acquisition needs to be documented and requires the permission of the Bank of Greece. You will also need to secure a Tax Registry Number from the Internal Revenue Service. If you are a married couple planning to purchase property jointly, you should each obtain one.

The first step to purchasing property in Greece is to hire a real estate attorney. He will be responsible for performing due diligence and ensuring the protection of your interests in the transaction.

Once you have selected the property, make an offer to the seller. If it is accepted, your lawyer will draw up an initial purchase agreement. Both parties will sign and you must pay a 10% deposit to reserve the property. Title search follows. Your lawyer must check if there are any charges on the property, if the construction followed government planning regulations, and all taxes due have been paid by the seller. This can be accomplished at the Registry of Mortgages. When the results are to your satisfaction, proceed to settling the remaining balance and necessary government duties.

Closing usually takes four to six weeks. You must obtain copies of the title from the seller. It is your responsibility to hire a notary public to prepare the contract deed, ensure that it has been drawn up correctly, and oversee the finalization of the purchase. Both parties must sign the contract deed in the presence of the notary who will verify and register the transaction in public records. This requires you to present a valid passport, your Tax Registry Number, and a special permission to purchase (if necessary).

In addition to this, the seller will also need to submit a B’Tax certificate proving he has a clean record with the Hellenic Fiscus (tax office). When this has been done, the final step involves submitting copies of the deed and transfer certificate to the Registry of Mortgages to change property ownership to your name.

A National Land Registry is still in the process of completion.


Footnotes to Transaction Costs Table


The round trip transaction costs include all costs of buying and then re-selling a property – lawyers’ fees, notaries’ fees, registration fees, taxes, agents’ fees, etc.

Transfer Tax:
Transfer tax is levied at a flat rate of 3% for property transfers as of 01 January 2014.

Land Registry Fees:
The property transfer is registered in the Cadastre. Land registry fees include registrar’s rights, certificates, and stamp duty. Registrar’s rights are around 0.475% of the property value, plus 23% VAT.


Notary Fees:

Notary fees are around 0.65% to 1% of the property value, plus 23% VAT. The sale and purchase agreement must be notarized for it to be valid.

Notary fee
Property Value, € TAX RATE
Up to €120,000 1%
€120,000 - €380,000 0.70% on band over €120,000
€380,000 - €2 million 0.65% on band over €380,000

Legal Fees:

Legal fees are around 0.40% to 1% of the property value, plus 23% VAT. Buyer and seller share the costs. Employing the services of a lawyer is highly advisable to avoid the "who owns what" mischief rampant in Greece. The lawyer will make sure that the land title is clear.

The Greek law defines the minimum amounts of remuneration for any property transaction. There is no maximum limitation and these shall be agreed by mutual consent between the buyer and the lawyer.



Up to €44,020.55 1%
€44,020.55 - €1,467,351.43 0.50% on band over €44,020.55
€1,467,351.43 - €2,934,707.86 0.40% on band over €1,467,351.43


Real Estate Agent´s Commission:
Buyer and seller each pay 1% to 2.5% real estate agent’s fee. Sometimes an allowance is made for this when setting the sale price, so in effect the buyer pays.

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