Can foreigners buy homes in Greece?

What is the process of buying a house in Greece?

To buy property in Greece, you’ll need to apply for a unique tax registry number known as an AFM. Get a notary. The notary makes or breaks the property sale in Greece, handling the completion of the acquisition contract. So, make sure all your documents are in order so you can breeze through this process.

Can you buy a house in Greece?

EU nationals can freely purchase property in Greece, while there are a few restrictions for non-EU nationals. … 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.

Is it safe to buy property in Greece?

More than 80 per cent of the Greeks own their homes. They were never deprived from their properties, unlike most of the other Balkan peoples during the communist era. Greek constitution, courts and authorities fully respect property rights – which makes Greece a very safe place to invest in property.

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Which is the cheapest Greek island to buy property?

Here are the 11 cheapest Greek islands for sale right now

  • Nafsika Island — €6.9 million (£4.9 million, $7.6 million).
  • St. …
  • Northern Aegean Island — €35 million (£25.9 million, $38.6 million). …
  • Dulichium Island — €40 million (£28.4 million, $44.1 million). …
  • Omfori Island — €50 million (£36 million, $55 million). …

How much does a house in Greece cost?

In 2016 a 100-square meter apartment in a Greek city cost 92,200 euros on average, or 922 euros/sq. m., while outside urban areas the average price of a house of the same size stood at 67,000 euros (670 euros/sq. m.).

Is living in Greece expensive?

Cost of Living

Greece is super-affordable, especially when compared to North America and much of the rest of Europe. Prices for daily essentials (food, transport, etc.) are at least 20% cheaper than in the U.S., and costs to rent an apartment can be as much as 70% less.

Can I become a Greek citizen?

Yes, you can become a Greek citizen by making an investment in Greece and obtaining the Golden Visa. However, unlike residency, you cannot apply for Greek citizenship without actually living there and paying taxes. You must live in Greece for at least seven years before being eligible to apply for citizenship.

How much are property taxes in Greece?

When you purchase a property in Greece, you pay a transfer tax, which is FMA. The tax rate is 3.09% of the taxable property value. There’s a system of “Objective Value”. It calculates how much a property should be worth depending on its size, location, and technical specification.

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What is the best Greek island to live on?

Whether you seek natural beauty, ancient ruins, or vibrant city living, Crete is one of your best choices for year-round living. With a population of over 630,000, the island is fully functional 12 months a year.

How long can you live in Greece without a visa?

You are allowed to travel to Greece and to all other members of the Schengen Area for up to 90 days for tourist or business purposes without a visa, as long as your U.S. passport is valid for at least 3 months after your planned return to the United States!

Is property a good investment in Greece?

As an option where investors often choose to put their accumulated funds into, real estate sector is a great opportunity when the market is bullish. Already showing signs of recovery in recent years, the Greek property market is now more desirable than ever with the new tax bill that pauses VAT.

Is Greece a good place to retire to?

Greece offers everything you could want from a retirement in Europe. There’s great food, culture, history and sunny weather. Most importantly, it’s affordable. You could live happily on a budget of $1,800 or less per month.