Although buying in Greece is fairly simple for a foreigner, there are a few things you should beware of.



Letting / Holiday Rentals

If you are planning to use your property as a holiday let, you may need a permit from the Department of Tourism.

In addition, there are restrictions on letting in some areas of the islands - check before you buy if this is important to you.



The Taxman

You will need a Greek tax code (known as AFM) to buy a property in Greece. These are easy to get - simply go along to the local tax office with your passport and birth certificate and it will be issued to you while you wait.

A bank account is also required - however you pay for the property, the funds will need to be placed into your Greek bank account before they are passed to the seller. This is to prevent money laundering and tax avoidance.

It used to be a requirement of anyone owning property in Greece (even if they didn't live or work there) that they had to file a tax return each year.

In 2006, this requirement was modified so that you only have to file a tax return if you have bought or sold "immovable property" during that year.

Permits

If you are buying a property near a national border, you may need to apply for a "Blue Card" from your local Greek police station.

These are only required in border areas and usually take a couple of weeks to be issued.

Otherwise no permit is required to buy property in Greece.

Glossary of Key Greek Terms


AFM - Greek tax code required to buy a property in Greece

Blue Card - a permit required if you are buying property near a national border in Greece

Immovable property - term used by the Greek authorities to describe property such as houses and flats

Notary Public - a government-employed lawyer who is responsible for conducting property sales in a given region

Read On

Read On

Buying Overseas Property and Foreign Mortgages